Cryptocurrency sector now valued at record $160 bn

Sep 01, 2017, 6:16 AM EDT
(Source: Zach Copley/flickr)
(Source: Zach Copley/flickr)

The global cryptocurrency market, for the first time ever, swelled to a whopping $160 billion in valuation in 2017, as it rides high on the success of Bitcoin, Ethereum and Bitcoin cash.

This remains an extremely favorable time for cryptocurrency markets as countries like U.S. and Estonia are mulling new laws to promote the usage of virtual cash in mainstream, writes Futurism.

Cryptocurrency market, valued at $10 billion at the beginning of the year, has grown 1,500 percent in just eight months, notes Coin Desk. Bitcoin, the hottest cryptocurrency hovering at about $4,400-range, could easily touch $20,000 mark in next three years.