Another day, another record-setting bitcoin price. Bitcoin broached the $3,400 level for the first time in history and has $3,500 in its sights. Ethereum, meanwhile, is gradually approaching $300, empowering the cryptocurrency market cap to cross $120 billion and set a new record of its own.

(Chart from CoinMarketCap.)

In short, it’s a great time to be a hodler.

Cryptocurrency Market Cap Tops $120 Billion

The cryptocurrency market cap began August below $90 billion but has experienced a full-blown eruption in the days that have followed. On August 2, the crypto market cap broke through $100 billion following the UAHF that created bitcoin cash. By August 5, it had passed another checkpoint – $110 billion. Two days later, it climbed past $117 billion to set a new all-time record.

The Cryptocurrency Market Cap Has Crossed $120 Billion to Set a New Record (CoinMarketCap)

Today – on August 8 – the crypto market cap set yet another high-water mark, vaulting over $120 billion for the first time. At its height, the total value of all cryptocurrencies reached $121.8 billion, although it has since dipped to $121.3 billion.

Source: cryptocoinsnews.com