Investing.com - The total value of all publicly traded cryptocurrencies climbed to an all-time high on Monday, as a monster rally erupted amid growing optimism over the future of digital currencies.
The value of all cryptocurrencies in circulation was at around $117 billion in early trade, just above its previous all-time high of $116.2 billion set on June 12.
Bitcoin, arguably the most popular cryptocurrency in the world, surged to a record high of $3,426, amid easing concern over the digital currency's future following last week's relatively uneventful 'hard fork' split.
The cryptocurrency has now more than tripled in value for the year, taking the total value of Bitcoin in circulation to about $55 billion.
Ethereum reached a market cap of roughly $25 billion, as prices rose nearly 3% to the $270-level.
Ripple, with a market cap of close to $7 billion rounds up the top three largest cryptocurrencies.
Meanwhile, the one-week old Bitcoin Cash rallied almost 30% to $256. The coin, which was created after Bitcoin split into two on August 1, has already amassed a market cap of $4.4 billion, ranking it as the fourth largest cryptocurrency.