The total value of all cryptocurrencies set a new all-time high today, rising above $126 billion for the first time in history, according to data from CoinMarketCap. <\/p>\n
The new benchmark was set at 8:00 UTC and comes just four days after the crypto asset class set aprevious recordabove $116 billion. <\/p>\n
At press time, the price increase appears to be driven by a new influx of capital into bitcoin, the markets oldest and perhaps best understood asset. Over the last seven days, the value of one bitcoin is up more than 20%, rising to over $3,500 from $2,854 last Friday. <\/p>\n
During that time, the total value of its coin supply also rose, climbing in value to $57 billion from $47 billion a week ago. <\/p>\n
Strong gains have also been seen in the top-10 cryptocurrencies by market cap. <\/p>\n
Neo (formerly Antshares), a well-publicized project out of China saw its market capitalization pass $1 billion for the first time. Over the past seven days, it has seen its market capitalization rise to $1.7 billion, up from $550 million, as its price per coin climbed to $34, up from roughly $10 seven days ago. <\/p>\n
Elsewhere, IOTA also rose to $1.7 billion, up from $1.1 billion, while ether, the native cryptocurrency on the ethereum blockchain, increased its total market cap to $28 billion, up from $21 billion aweek ago. <\/p>\n
But that's not to say all cryptocurrencies have seen such big movementsduring the period. <\/p>\n
Bitcoin cash, the cryptocurrency created in last week's bitcoin fork, added little new value to its market, inching up to $5.4 billion, from $5.1 billion a week ago. <\/p>\n
Hot air balloons image via Shutterstock <\/p>\n
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$126 Billion: The Cryptocurrency Market Just Set a New All-Time High - CoinDesk<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The total value of all cryptocurrencies set a new all-time high today, rising above $126 billion for the first time in history, according to data from CoinMarketCap. Continue reading