- Many ups and downs in the crypto-verse are due to its volatile nature.
- Bullish investors win as the market capitalization of coins shoots through the roof to over $2 trillion.
- The world’s first cryptocurrency, Bitcoin, has surged and taken other coins to the moon.
- Long-term gains seal the deal for new investors to back the top three coins.
There have been winners and losers in cryptocurrencies over the past few years. Bitcoin has been the major coin in the market by market capitalization and popularity. The market cap of the crypto giant surpassed a record $1 trillion, taking the total market capitalization to over $2 trillion this year.
Due to the volatility, investors search for coins with value in the long run, which always leads them to Bitcoin. Some altcoins like Ethereum, Litecoin, and Ripple are among the top performers in recent years.
Biggest Gainers: 2017 and 2021
Bitcoin, Ethereum, and Ripple are our top three coins for comparison between 2017 and 2021. However, other coins like Litecoin and Binance Coin have been stellar in recent years.
Bitcoin has been on a steady increase, though with a few ups and downs. In 2017, Bitcoin started the first quarter of the year strongly, surpassing its December performance to reach $1,290. Later on that year, it hit $2,000, and for the first time, on September 1, Bitcoin hit $5,000, growing over 300% from the start of the year.
On December 17, Bitcoin traded at a record $19,700 before falling to about $13,800 to end the year. This year, the price of Bitcoin in the first quarter got as high as $64,000 as recent events and demands pushed the currency astronomically. Currently, Bitcoin trades at $55,800.
Ethereum is the largest altcoin made to rival Bitcoin. Its growth has been very consistent over the years. A key factor in the growth of Ethereum is its unique blockchain and network, which supports decentralized applications. In 2017, the coin grew $9,162, representing a return of 36,000%. It was a glorious year for the leading altcoin.
Ethereum started the year rising to $10 in January from $8 in 2016. By the second quarter in May, it was already trading at a staggering $216. With multiple highs and lows, it reached $400 by November and ended the year strongly with a price of $719.
2021 has also been a good year for Ethereum. With its blockchain accepting more new dApps, the price keeps soaring and has passed the $3,000 mark. Starting the year at $2,700, it has grown consistently and now trades at $3,500.
Ripple has been remarkable from its inception. Its makers had the intention to challenge Bitcoin to be the leading altcoin, but it lost that spot to Ethereum. However, in 2017, Ripple was the highest gainer, with a growth of over 35,000%. In December, it overtook Ethereum to reach second place in market capitalization. In 2021, Ripple started at $0.21, growing to $1.59 in May 2021.
On the Flipside
- Though these altcoins gained value, many others flopped and were termed “shit coins.“
- Coins with that tag experience a rapid rise in prices and lose all their value in a short period of time.
- Due to the volatility of the market, price predictions may mislead investors.
What To Expect?
With the rise of the dominant coins like Bitcoin, Ethereum, Litecoin, Ripple, and Binance Coin, the market capitalization keeps soaring. As more good news and developments keep happening for cryptocurrencies, the value of the major coins will increase, and upcoming coins like Elon Musk-backed Dogecoin will also share in the glory.
Ripple’s recent announcement about going public will boost its market capitalization, and Ethereum’s blockchain is constantly accommodating more solutions, with currently over 3,000. Thanks to developments like these, the future looks good for the top coins.