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Cryptocurrency Market Cap Reaches New High of $600 Billion




The total cryptocurrency market capitalization made history as it went above $600 billion for the very first time.

Data from indicates that the capitalization went as high as $603.3 billion, going over $600 billion around 11:30 UTC.

After dropping below that an hour later, it went above that level twice in the next four hours.

As of press time, the collective market capitalization has dropped back slightly, coming in at roughly $598.7 billion.

The figure still represents more than double the market cap of $232 billion seen a month ago.

Among the top-five cryptocurrencies, bitcoin cash saw the most significant gains.

The cryptocurrency is up roughly 22% in the past 24 hours, trading at $2,250 as of press time.

More market data shows that the afternoon trading session between 12:00 UTC and 16:00 UTC saw bitcoin cash rise by 16%.

During that period, cryptocurrencies VeChain and Hshare improved the most, climbing by 31.88% and 28.15%, respectively.

The top-50 cryptocurrencies that saw declines during during that period include siacoin, which fell by 10.12%, and startup Power Ledger’s PWR token, which dropped 8.64%.

The price of bitcoin has fallen more than 3% since the start of the day’s trading, and at press time was trading at $18,437.19.

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