The price of bitcoin has remained relatively stable at the start of November, while gains from several leading cryptocurrencies have helped push the overall crypto market to a record high.
Ethereum (ether) hit a new all-time high on Wednesday morning, rising in price above $4,600 for the first time in its history amid a surge in use of its blockchain network.
Polkadot (DOT) also achieved a new peak above $53, shooting up more than 18 per cent over the last 24 hours, as did Solana (SOL).
Gains made by meme coins Dogecoin and Shiba Inu coin last week have been sustained, with both holding solid at the start of the month.
Some crypto analysts believe more records could be broken in the final two months of 2021, with one popular price prediction model putting BTC on track for six figures before Christmas.
We’ll have all the latest news, analysis and price forecasts in our live coverage of bitcoin and the rest of the market right here.
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Key points
Crypto price gains in 2021 calculated
11:00 , Anthony Cuthbertson
If you’re wondering how much you could have made if you’d invested in Solana at the beginning of the year, someone has already done the maths for you.
Solana’s 16,000 per cent price gains since the start of 2021 mean that $1,000 invested on 1 January would have turned into $162,000 today. This is more than double what you would have from the same investment in dogecoin, and more than 80-times greater than bitcoin’s returns.
Of the top 10 cryptocurrencies, however, there is one that has performed even better than Solana. A $1,000 investment 10 months ago would have almost turned you into a billionaire by now.
Solana price record follows remarkable year
10:04 , Anthony Cuthbertson
Solana’s latest price surge has seen it reach above $2.40 for the first time in its history. The all-time high for Solana follows an astonishing year for the altcoin, which started the year trading below $2.
Its creators claim its fortunes are directly related to the potential of Solana’s underlying technology, which they say includes “the fastest blockchain in the world”.
“Literally the goal of Solana is to carry transactions as fast as news travels around the world – so speed of light through fibre,” CEO Anatoly Yakovenko said during a developer conference in September. “Who we’re competing with is Nasdaq and the New York Stock Exchange.”
You can read more about Solana and its remarkable rise right here.
What is Solana? The crypto that is rising 200-times faster than bitcoin in 2021
Bitcoin price dips slightly as Solana overtakes Cardano
09:49 , Anthony Cuthbertson
Bitcoin has slipped in price slightly on Thursday morning, dropping 2.5 per cent to below $62,000.
The dip has been mirrored by several other leading cryptocurrencies, including Ethereum (ether), Cardano (ada) and dogecoin.
Bucking the trend is Solana, which rose by 2.5 per cent overnight to push its market cap above $70 billion. This means it now ranks above Cardano and the stablecoin Tether on CoinMarketCap’s price index.
Crypto market now worth more than world’s largest banks combined
Wednesday 3 November 2021 18:39 , Anthony Cuthbertson
The latest crypto market rally has pushed the overall value of all cryptocurrencies combined above the top dozen largest banks in the world.
Ethereum (ether) alone is worth more than JPMorgan Chase – the world’s most valuable bank by market cap – after its all-time high today, while bitcoin is worth more than double that.
As cryptocurrencies overtake the giants of traditional finance, some banks are taking steps to let their guard down a bit. Just today, Australia’s Commonwealth Bank announced that it would allow retail customers to buy, sell and store crypto through their mobile banking app.
You can see more charts and read the full story here.
Crypto market now worth more than top dozen largest banks combined
Ethereum and Solana surge, pushing crypto market to all-time high
Wednesday 3 November 2021 09:38 , Anthony Cuthbertson
The cryptocurrency market has hit a new record high this morning.
With a combined market cap above $2.75 trillion, it is now worth more than the top 10 largest banks combined.
Ethereum (ether) and Solana (SOL) hit individual all-time highs, after a price increase of 5 per cent and 12 per cent respectively over the last 24 hours. Bitcoin is still a few thousand dollars away from its personal best but is up more than 2 per cent since this time yesterday.
Here’s the full story:
Crypto market hits record high
Wednesday 3 November 2021 02:53 , Vishwam Sankaran
Bitcoin, ethereum and solana surge
Several cryptocurrencies including bitcoin and ethereum have grown over 3 per cent in the last 24 hours, taking the global crypto market to a value of about $2.73 trillion.
Bitcoin has risen in value by about 3.5 per cent in the last 24 hours.
Meanwhile ethereum hit an all time high value of over $4,600, and continues to be priced around the mark.
Solana has grown by over 10 per cent in the last 24 hours and Polkadot has surged by about 4 per cent during this period.
Meme coins dogecoin and shiba inu however have slipped in value in the last day with the latter dropping by over 4 per cent.
The global crypto market has grown in value by about 4 per cent in the last 24 hours.
El Salvador to build 20 schools with bitcoin profits
Tuesday 2 November 2021 17:54 , Anthony Cuthbertson
El Salvador President Nayib Bukele has announced that 40 new schools will be built in the country using the profits from its bitcoin investment.
“God willing, more works will come from the profits of a trust that was created and a Law that was created because we ignored the opposition,” President Bukele said.
The country has also started building the first public veterinary hospital, also funded by crypto profits. El Salvador currently holds more than 1,000 bitcoins – worth more than $60,000,000 at today’s prices.
You can read the full story here.
Bitcoin price rise allows El Salvador to build 20 schools with profits
November historically best month for bitcoin price gains
Tuesday 2 November 2021 14:53 , Anthony Cuthbertson
After a solid October, which saw bitcoin rise in price by 43 per cent, many investors are hoping for an even better November.
Historically, November has been the strongest month for bitcoin, with an average price gain of 53 per cent over the 30 days. If BTC rose by this amount over the next 28 days, it would be north of $90,000 by December.
Ethereum’s record price explained
Tuesday 2 November 2021 14:28 , Anthony Cuthbertson
We’ve heard from some crypto industry figures to hear their thoughts on Ethereum’s latest price record.
The general consensus is that ether’s price rally is being driven by a surge in decentralised app, NFT and gaming token usage, which was boosted by news last week that Facebook – now Meta – is pivoting its focus to the creation and development of a metaverse.
One expert predicts Ethereum could hit $10,000 in 2021 – more than double its current price.
You can read the full story here.
Ethereum price smashes record high amid metaverse buzz
Ethereum price hits new all-time high
Tuesday 2 November 2021 14:27 , Anthony Cuthbertson
Ethereum (ether) has just hit a new all-time high, reaching tantalising close to $4,500.
The latest record was accompanied by another all-time high from Polkadot (DOT), which has shot up nearly 20 per cent over the last 24 hours to break $50 for the first time in its history.
The price surges have pushed the overall crypto market above $2.7 trillion, which is also a record high – making it more valuable than Amazon and Meta (Facebook) combined. Ethereum alone is now worth more than Visa and Mastercard.
Bitcoin price in ‘calm before the bullish storm’
Tuesday 2 November 2021 14:25 , Anthony Cuthbertson
With the price of bitcoin holding steady at around $61,500, one industry figure has described it as “the calm before the bullish storm”.
Dan Held, director of growth marketing at the crypto exchange Kraken, told his Twitter followers: “Strap on your moon boots.”
It follows the same narrative pushed by several leading analysts, who are predicting a record-breaking end to 2021, with November typically being a strong month for bitcoin. If patterns from previous bull runs are followed, the BTC price could go parabolic before the end of the year, however any so-called black swan event could scupper investors’ hopes of fresh all-time highs.
