Apple CEO Tim Cook recently revealed he has personally invested in cryptocurrency and that he thinks it is reasonable to own it as part of a diversified portfolio.

The cryptocurrency market is now worth over $3 trillion, according to CoinGecko.  On Monday, the major digital currency, including ether and bitcoin, rallied.

As demand for Ethereum, the most used blockchain network, has surged this year, other projects have emerged in an attempt to compete.

SYDNEY, Australia – As cryptocurrencies rode a wave of momentum, flows, positive news, and inflation fears, bitcoin soared near its all-time high on Monday while ether climbed to a new high.

Last week, the token soared as high as 75,000 percent before plummeting to a fraction of a penny.

Squid is now trading at $2.22, up nearly 2,400% in the previous 24 hours, with a market capitalization of more than $174 million.

Nigeria's central bank outlawed banks and financial organisations from dealing or operating in cryptocurrencies earlier this month, claiming that they presented a risk to the financial system.

Graham Jenkin, CEO of CoinList, is bullish on bitcoin, which hit a new all-time high of $66,000 on October 20 after the debut of a much-anticipated U.S. bitcoin futures ETF.

Since January, the number of Bitcoin ATMs has doubled, with over 80 countries now hosting teller machines that exchange cryptocurrencies with fiat currency.

After its founder Jack Ma bluntly criticised the Chinese banking system last year, Alibaba Group Holding saw a $344 billion drop in the world's largest wipeout.

As of 2021, there are about 6000 cryptocurrencies, and new ones are constantly appearing. It is gaining popularity all around the world.

Although cryptocurrency exchanges are growing in popularity, investing in this market has its own set of risks and difficulties.