The cryptocurrency’s meteoric rise has stunned the world and defied traditional laws of market behavior. After years of being labelled spil an “experiment,” “bubble,” and “fade,” the cryptocurrency market resumes to remain overall resilient ter the face of incredible uncertainty. The crypto movement has gained such a vast amount of steam te such a brief period of time that a visual is needed ter order to truly appreciate the dramatic switches.
Te order to showcase the growth te the overall cryptocurrency, wij chose to create a visual demonstrating how the top ten cryptocurrencies by market cap have switched overheen the past five years. Using January spil the benchmark, wij found the top ten cryptocurrencies by market cap inbetween the years of 2014 and 2018 from CoinMarketCap.com. Te order to more clearly depict the market cap growth during the time period, wij used a green color scale ranging from light to dark shade. The darker the green background on each square, the larger the market capitalization. Conversely, lighter shades represent smaller market caps.
Bitcoin Still Top Dog, But Market Cap Dominance Te Downtrend
The “grandfather of cryptocurrency,” Bitcoin, has single-handed brought the crypto market to where it is today. Without Bitcoin, there would be no cryptocurrency market. However, the “grandfather” is getting old spil other altcoins proceed to see massive growth and influence within the emerging industry. Ter January 2014, Bitcoin’s market cap wasgoed $Ten.20 billion, which represented 89% of the total market cap of all cryptocurrencies. Spil of January 2018, Bitcoin’s market cap has skyrocketed to $192 billion, but now only represents 33.40% of the overall cryptocurrency industry’s market cap.
Spil cryptocurrencies were continuing to rail out the final stages of its very first bull market ter January 2014, only four coins were valued above $100 million dollars. By 2015, the market eyed a steep crash, which resulted te only two cryptos above the $100 million mark te the top ten. The market reloaded te 2016 before leading to the commence of the current bull run. Te January 2018, the crypto market eyed a record seven coins above the $100 million mark, but only Bitcoin wasgoed still ter the billions club. After cryptos began going mainstream te late 2018, a face-melting rally began which propelled all top ten of the largest cryptocurrencies into the billion-dollar market cap club.
Here is a breakdown visual, based on the total size of market cap of the top ten cryptocurrencies inbetween January 2014 and January 2018:
– January 2014: $11,356,979,703
– January 2015: $Trio,403,948,945
– January 2016: $6,283,781,652
– January 2018: $16,985,815,798
– January 2018: $455,573,149,014
Overall, the total market cap of the top ten cryptocurrencies has risen from $11.36 billion to $455.57 billion inbetween January 2014 and January 2018. This translates to an increase of $444.22 billion or 190.27% overheen the five-year period. Interestingly enough, the top three largest cryptocurrencies ter January 2014 would be the only three to consistently make the top ten list each year: Bitcoin, Litecoin and Ripple. Ethereum busted onto the top ten toneel by January 2016, and has astonished the entire community with its massive rise to be undisputed 2nd largest cryptocurrency by market cap for the 2nd year running. Overall, each year brings fresh revelations and insight into the state of the cryptocurrency market.