Ranking the Performance of the Largest Cryptocurrencies
In the stock market, there are currently several sectors that are doing better than others as usual. Markets like marijuana, internet businesses, robotic systems, cancer immunotherapies, and electric vehicles are all at the fore-front of the stock market as a whole. If you add up the gains from all of these industries, you still won’t even come close to the gains from cryptocurrencies since the start of 2017.
Since the date of August 26th, 2017, the market cap of all cryptocurrencies had skyrocketed by 810% going from $17.7 billion to over $161 billion. That number of $161 billion is without accounting for Bitcoins all-time high, being reached in the first weekend of September surpassing $5,000. Several cryptocurrencies have given returns that would take years for the S&P 500 to match, which explains there popularity.
The top ten cryptocurrencies have amassed large support groups and have reached very decent market caps in the recent times. Here’s a list of the 10 largest cryptocurrencies in order of their market caps year-to-date through September 2nd, 2017.
With the majority of cryptocurrencies making incredible gains during the year of 2017, it seems quite easy to make a large profit. Ethereum, has the second largest market cap and has seen its value go up by a staggering 4,300% this year alone. With a current market cap of $2.7 billion, it is one of the top-performers if not the top among digital cryptocurrencies.
Investing in cryptocurrencies may seem scary at first, but the potential for large gains is so high that many investors have gotten lucky. With hopes of high returns, investing in cryptocurrencies seems to be one of the most solid options right now.