According to figures from Coinbase, the price of several other smaller cryptocurrencies have surged even more than bitcoin (XBT) lately. Zcash and EOS have gained nearly 35%. XRP has shot up about 40%. Ethereum has soared almost 50%. And Stellar Lumens has skyrocketed around 60%.
The stunning surge in cryptocurencies comes at a time when investors are worried about US-China trade tensions hurting the stock market. Bitcoin and its fellow digital currencies may, strangely enough, now be viewed as safe havens since they aren’t backed by governments.
Also helping? Big investment firms like Fidelity, TD Ameritrade and even the NYSE, are also getting more involved in crypto trading.