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Crypto Market Surge to New All-Time High

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The cryptocurrency market soared to a new all-time high of $3.73 trillion on Tuesday, driven by Bitcoin's record-breaking price and gains in altcoins like Solana, Litecoin, and Monero. Traders anticipate a third consecutive rate cut by the Federal Open Market Committee, fueling bullish sentiment. The US sanctions on a North Korean crypto laundering network boosted demand for privacy-focused coins.

The cryptocurrency sector valuation grew by $12.5 billion as it advanced to a new all-time high of $3.73 trillion on Tuesday. While Bitcoin price hit a new all-time high of $108,135, Ethereum and Solana also scored considerable gains. Privacy-focused coins Monero and Litecoin also recorded major gains after the US authorities shut down a North Korean crypto laundering network.

As the US Federal Open Market Committee (FOMC) kicked off its last meeting of the year on Tuesday, bullish traders placed last minute bets in anticipation of a third consecutive rate cut decision. Crypto Market Capitalization, December 17 Amid the rapid capital inflows, the crypto sector grew 3.7%, adding nearly $130 billion to its global market capitalization on Tuesday. While Bitcoin (BTC) hit a new all-time high of $108,135, mega cap altcoins like Litecoin (LTC) and Solana (SOL) and Ripple (XRP) also scored considerable gains. Solana price surged 4% on Tuesday, propelled by the growing popularity of its latest memecoin fad, Fartcoin (FART), which crossed the $1 billion market cap on Tuesday. On Monday, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctioned seven corporate entities linked to providing financial and military support to the Democratic People's Republic of Korea (DPRK). The US authorities' sanctions on the North Korean hackers drove up demand for privacy-focused altcoins. While Litecoin price rose 7% to breach the $130 resistance, Monero also rose to 2% to hit the $218 mark. In the first week of December, global markets faced turbulence amid escalating geopolitical tensions in South Korea and Syri

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