The cryptocurrency market has surpassed its previous all-time high of $116.2 billion set on June 12, setting a new record of all-time high by reaching over $116.9 billion. The overall value of the market was up by 30%, gained over the week, rising from below $90 billion on July 31, and striking up 80% higher from its recent low of $80 billion on July 16.
The market is seeing the current trend after the Bitcoin hard fork hit the markets on August 1, which created a new crypto currency ‘Bitcoin Cash’ without bringing any changes or problems to its existing larger Bitcoin network. The Bitcoin has stolen a lot of limelight during this time, though the digital currency has been able to attract new buyers or not remains unanswered.
The top two currencies, Bitcoin and Ether, continue to rule the market as only four other currencies could see double digit increase including Bitcoin Cash, NEM, IOTA and NEO.