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Sunday, May 14, 2017

$25 Billion in 30 Days: Are Cryptocurrencies in a Bubble?

$25 Billion in 30 Days: Are Cryptocurrencies in a Bubble?

The combined market capitalization of all public cryptocurrencies has surged nearly 80% over the last month, as more than $20bn worth of new investment dollars has flooded the nascent market.

In roughly 30 days alone, the market cap for experimental blockchain-based cryptographic assets has ballooned from $27.8bn to $49.5bn, according to data from CoinMarketCap, with the strongest gains observed outside of the market's historical leader, bitcoin.

A closer look reveals the total market cap of so-called 'altcoins', cryptographic tokens that seek to serve alternative use cases to bitcoin, has surged to $23.5bn, up more than 600% from just over $3bn in early March.

Amid this sharp rally, some market observers have expressed concerns that the asset class may have entered a speculative bubble.

Full story at http://bit.ly/2pvL2HB

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