The cryptocurrency market cap has passed $160 bln for the first
time, as trading platforms post new records.
The growth to almost $162 bln caps an extraordinary month for
cryptocurrency, which began in August below $90 bln.
ICO token popularity has contributed to the sudden
increase, with Bitcoin dominance falling below 50 percent once
again in the second half of the month to currently sit at just
below 45 percent.
At the same time, trade volumes for Bitcoin shot up last week
in line with steadily increasing prices.
Funds flowing into cryptocurrency versus traditional assets has
become an increasing talking point in recent weeks.
Mainstream investors have gone on record to state their
preference for crypto over gold or
commodities for the rest of 2017, while figures highlighted by
Chinese exchange BTCC today show the extent to which gold has
taken a back seat for shorters.
— BTCC (@YourBTCC) August 29, 2017