India, Aug. 11 -- Cryptocurrencies including Bitcoin staged a strong rally early on Monday but stopped short of scaling fresh peaks. Bitcoin almost touched its all-time high before retreating to its current level of 3 percent below the peak. Bitcoin touched a 24-hour high of $122k while Ethereum touched a 24-hour high of $4.3k. Rate cut hopes as well as strong inflows to Bitcoin and Ethereum Spot ETF products in the U.S. boosted sentiment.
At current levels of market capitalization, Bitcoin is ranked 6th and Ethereum 24th in the global ranking of all assets as per market capitalization compiled by companiesmarketcap.com. Crypto market capitalization of around $4 trillion compares with Gold's market capitalization of $22.9 trillion and Silv...