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.
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.
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.
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.
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!