Cryptocurrency prices today, Bitcoiin trading above USD 57,000 mark

Cryptocurrency prices have risen sharply on Monday, with Bitcoin trading above USD 57,000. The world's most valuable and widely used cryptocurrency Bitcoin was trading at USD 57,699, up more than 6 percent. Bitcoin's price recently hit a new high of over USD 69,000, and it's up more than 99 percent year-to-date (YTD). According to CoinGecko, the global crypto market cap has risen to USD2.72 trillion.

Ether, the second-largest cryptocurrency increased by more than 7 percent to USD 4,337. According to CoinDesk, the price of Dogecoin increased by over 3 percent to USD 0.20, while the price of Shiba Inu increased by over 4 percent to USD 0.000039. Other cryptocurrencies, such as Litecoin, XRP, Polkadot, Uniswap, Stellar, Cardano, and Solana, have also had rises in the recent 24 hours.

According to a report by CryptoCompare, investors shifted their holdings to Bitcoin alternatives as assets under management (AUM) of bitcoin-based crypto funds plummeted 9.5 percent to USD48.7 billion in November, the highest month-over-month drop since July. This resulted in a minor monthly drop in AUM of USD74.7 billion, or -5.5 percent, to USD70.0 billion for all crypto funds or digital asset management products.

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