Tulips are flowering members of the lily family and are some of the most widely cultivated ornamental plants in the world. Their large, showy, cup-shaped blossoms have for centuries been associated with beauty and elegance. These plants were also at the heart of what is often considered to be the first speculative bubble in history, when in the mid-17th century, "Tulip-mania" gripped the Netherlands. It was a market frenzy that sent the prices of tulip bulbs skyrocketing to the point where they were used as a currency. Today, the Netherlands is still famous for its huge and stunningly colorful tulip fields. Skagit Valley in the state of Washington is another location famed for its tulip cultivation.