Bitcoin hits new record as crypto market cap exceeds $3tn

Sydney: Bitcoin and Ether made record peaks in the Asia session on Tuesday as enthusiasm for cryptocurrency adoption and fears about inflation leant support to the asset class.

Bitcoin rose as far as $67,700 and Ether, the second-biggest cryptocurrency by market value, hit $4,800. Both have more than doubled since June and added nearly 70 per cent against the dollar since the start of October.

The moves helped lift the total market capitalisation of cryptocurrencies above $3 trillion, according to crypto price and data aggregator CoinGecko.