Has the Crypto Market Bloomed since 2013?

Has the Crypto Market Bloomed since 2013?

The evening of 2013

Since the birth of Bitcoin in 2009, it has ruled over the markets. The spark of influence led by Bitcoin helped emerge numerous altcoins setting different values, worth, and trends, but all of them were determined by one and only Bitcoin.
For the first time on May 26th, 2013, there were 15 cryptocurrencies listed on the coinmarketcap.com website. On that day, the total market cap was worth $1,548,982,054 for all 15 combined.

2013 was declared the “Year of Bitcoin” by Forbes. It was the year Bitcoin captured the attention of wealthy investors, making the global headlines at $1,242 per coin only to overtake the price of gold at $1,240 per ounce.

As the value soars, continuous growth in value and being spoken about at online forums, seminars, and various discussion tables. The super-fast growth of bitcoin and different altcoins led to the contradictory view of crypto as a scam, but on the other hand, many thought of it as an attractive and productive project. The truth was that both the arguments very pretty convincing. However, due to the high instability of cryptocurrency markets, there have been changes in value opinion in past years and time to come.

Skip to 2022

As the data from January 2022 suggest, there are 16,598 cryptocurrencies in the market, with the total market cap of all cryptocurrencies being $1.922 trillion. Furthermore, the volume of all cryptocurrencies traded per 24 hours globally is $75 billion.

The coin market cap of Bitcoin is over $700 billion, more than double of Ethereum, its closest rival. Many cryptocurrencies are directly valued against the USD, such as Binance USD, USD Coin, and Tether’s top three coins out of the top twenty cryptocurrencies globally. According to recent research, approximately 8% of the US population are active crypto traders. Asia wins it by a tremendous margin compared to continents, as there are four times more crypto users than any continent. More than 95% of crypto enthusiasts and crypto holders are aware of Bitcoin.

How Many Cryptocurrencies Are There In 2022?

If we take in the data for January 2022, there are 16,598 cryptocurrencies in existence. However, people do not understand that not all cryptocurrencies are valuable or active. If all the “dead” cryptos are to be discarded, there will only remain around 9,631 active cryptocurrencies in the market. As the crypto market gets famous, there are more than 300 million cryptocurrency users around the globe. Cryptocurrencies are now accepted by 18,000 businesses and companies around the world.

As you are reading this article, many more ICOs have launched every week. The tens of thousands of cryptos can be categorized into three simple categories.

  • Bitcoin – the king of the crypto and the original cryptocurrency
  • Altcoin – Alternatives to Bitcoin (not the exact functions)
  • Tokens – Cryptocurrencies using pre-existing blockchains

Conclusion

Many new cryptos are launching every day, some in ICOs and some purely for business purposes. As a result, the market is seeing a no-stop growth, and either you can be against the flow or be a part of the flow and pave your way to a brighter and hopeful future to be continued…