• X
  • Listen in to our latest podcast!

    August 30, 2017

    The cryptocurrency market cap spirals to a record $161 billion

    cryptocurrency market cap august 30

    The total market cap of all cryptocurrencies has soared to a record $161 billion USD; up from $90 billion posted at the beginning of August.

    Off the back of a tumultuous end-July that saw Bitcoin fork and Ethereum deal with a flash crash, the total market cap of all cryptocurrencies has passed the $161 billion USD mark for the first time.

    Coinmarketcap shows heightened market activity from the week ending August 26th; marking a rise that has resulted in the total worth of all cryptocurrencies growing from some $90 billion USD  at the start of the month.

    Read: Is Bitcoin the future of currency, or just a commodity bubble?

    CoinTelegraph reports that ICO token popularity is attributable to the increase, which has seen Bitcoin’s dominance decline below the 50% mark to sit at just 45%. Bitcoin itself has remained sure and steady about the $4,000 USD dollar mark post-fork, while Bitcoin Cash presently sits at $555.73 at the time of writing.

    market cap cryptocurrencies august

    Ethereum has recovered to a strong $378.58, sitting above the price it held prior to a flash crash that pummeled its worth below the $250 USD mark earlier this year.

    Debate has arisen between preference for investment into gold or cryptocurrencies in recent weeks; CNBC reported earlier this month that the stock market has seen the largest withdrawal rate since 2004, which has resulted in investors abandoning precious metals. Chinese exchange BTCC elaborates that investment in gold dipped by $30 billion in the past 10 weeks, while investment in Bitcoin rose by some $71 billion.

    market cap cryptocurrencies august

    Read: Ethereum briefly eclipses Bitcoin in Google Search as rapid growth continues

    What are your thoughts? Are you looking into either begin to invest in cryptocurrencies, or invest more significantly in the weeks and months ahead? Be sure to let us know your thoughts in the comments below!

    Follow Bryan Smith on Twitter: @bryansmithSA

    Listen in to our latest podcast!