Home / Altcoin News / Cryptocurrency Market Cap Reaches Record $161 bln, Investments Flow

Cryptocurrency Market Cap Reaches Record $161 bln, Investments Flow

The cryptocurrency market cap has passed $160 bln for the first
time, as trading platforms post new records.

Data from Coinmarketcap and Coin Dance show market activity and growth
spiralling in the week ending Aug. 26.

The growth to almost $162 bln caps an extraordinary month for
cryptocurrency, which began in August below $90 bln.

Global Charts

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.

Localbitcoins posted its
second-highest weekly figure of $44.4 mln for the seven days to
Saturday, while fellow platform Paxful established a new all-time high of $8.7
mln.

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.

 

Source : https://cointelegraph.com/news/cryptocurrency-market-cap-reaches-record-161-bln-investments-flow

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