bitcoin

The cryptocurrency market has exploded this year. 

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 eight most bizarre altcoins from Coinmarketcap’s list. Here they are:

SEE ALSO: The cofounder of $1.3 billion startup Robinhood explains a ‘logical fallacy’ in investing

Sexcoin

SexCoin, according to its website, “is the first industry specific cryptocurrency targeting the Adult Entertainment Industry.” People can use it to purchase “adult products.”

Price: $.010023

Rank: 380

Volume (last 24 hours): $8,663

Marketcap: $1,245,924 (253 BTC)

Circulation: 124,311,414 SXC

Total Supply: No data

PotCoin

Potcoin was created to provide merchants and customers a platform on which they can buy and sell marijuana products. 

PotCoins are digital coins you can send via the internet, which allow cannabis enthusiasts to interact, transact, communicate and grow together,” according to the coin’s website

Price: $.118722

Rank: 132

Volume (last 24 hours): $676,796

Marketcap: $25,858,434 (5,353 BTC)

Circulation: 217,806,587 POT

Total Supply: No data

PutinCoin

PutinCoin was created with one main purpose in mind, according to its website, to pay “tribute” to the president and people of Russia. 

Price: $.039835

Rank: 226

Volume (last 24 hours): $59,045

Marketcap: $7,990,385 (1,654 BTC)

Circulation: 200,588,064 PUT

Total Supply: 2,000,000,000 PUT

See the rest of the story at Business Insider