Here are 8 of the most bizarre cryptocurrencies on the market
Digital currencies, such as Bitcoin, are powered by distributed ledger technology and are not controlled by a centralized authority. Cryptocurrencies have been around for almost a decade but the rapid appreciation of bitcoin and other cryptocurrencies this year has peaked the interest of Wall Street and Main Street alike.
Bitcoin, for instance, recently surpassed $4,800. It's up over 700% since 2016 and ether, the token powering the ethereum blockchain, is up 3,300% during the same time period.
At the same time, the number of so-called altcoins, or alternative cryptocurrencies, has ballooned. Powered in part by the rise of initial coin offerings, a way for companies to raise money by creating their own cryptocurrency, the number of altcoins now stands well above 1,000 with a combined marketcap of over $170 billion, according to data from Coinmarketcap.com.
We've come up with a list of the nine most bizarre altcoins from Coinmarketcap's list. Here they are: