Cryptocurrencies' total market value edged up to another record high Wednesday, surpassing that of the U.S.' largest bank JPMorgan, CNBC reported.
The combined market capitalization of all digital currencies reached an all-time high of more than $370 billion at about 6:50 a.m. London time, according to Coinmarketcap data.
Their market value overtook that of JPMorgan, which is currently at $366.8 billion.
Bitcoin (EXANTE: Bitcoin) soared above $12,000 for the first time Wednesday, lifting the whole market.
Experts believe more institutional money will flow into Bitcoin as several derivatives exchanges prepare to introduce futures contracts for the digital currency.