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Cryptocurrency Market Cap Sets New Record At $600 Billion

The Market Cap is the total amount of dollars invested in cryptocurrency multiplied by the current price of the currency..

For the first time in the history of cryptocurrency, the total market capitalization rose above $600 billion.

Data from CoinMarketCap.com shows that the cryptocurrency capitalization skyrocketed as high as $603.3 billion, hitting and esceeding $600 billion at around 11:30 UTC. After taking a dip below that threshold about an hour later, it proceeded to climb above that level twice in the following hours.

As of press time, the total market capitalization pulled back slightly, coming in at about $598.7 billion – an impressive number that represents more than double the market cap of $232 billion seen just one month ago.

Among the top-five cryptocurrencies in the global, digital economy, bitcoin cash has seen the greatest gains. The cryptocurrency, which is a fork from the main bitcoin blockchain, is up roughly 22% in the past 24 hours.

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