The Aggregate Cryptocurrency Market Cap Is Up 810% Year to Date
Digital currencies such as bitcoin and ethereum have blown traditional investments out of the water since the year began. Bitcoin, which is the largest cryptocurrency by market cap, is up 373% year to date through Aug. 30, while ethereum, the second largest digital currency by market cap, has surged an almost unimaginable 4,737% year to date. For comparison, it's taken the S&P 500 more than four decades to return what ethereum has in a matter of eight months.
But the real story is just how much money has been poured into cryptocurrencies over the past eight months. Since the year began, the aggregate market cap of all cryptocurrencies has jumped from $17.7 billion to a record $161 billion as of Aug. 29 -- that's an 810% climb. Bitcoin, the kingpin of the group, and its recently spun-off bitcoin cash, are pretty much responsible for around half of those market-cap gains.
Image source: Getty Images.
Source: Fool.com
