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Friday, May 19, 2017

Cryptocurrency Market Cap Tops $60 Billion to Hit All-Time High

Cryptocurrency Market Cap Tops $60 Billion to Hit All-Time High

The total market capitalization of all cryptocurrencies reached an all-time high today, passing $60bn as the innovative assets continued to draw robust inflows.

This figure reached $63.6bn at one point during the day's trading, according to online data service Coinmarketcap, a figured represented a weekly, monthly and quarterly increase of roughly 18%, 115% and 220%, respectively.

While analysts cited different variables as fueling these gains, one factor they noted was growing awareness of cryptocurrencies, one that is finding them emerge as a more diverse set of investments than observed previously.

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