How the Crypto Market Has Changed in 10 Years?

    Since the birth of Bitcoin in 2009, the cryptocurrency market has gone through many turbulences, with both major advances and setbacks.

    After 10 years of functioning, the number of coins/tokens has rosed dramatically, up to 20,000 units, which is hundreds of times compared to a few hundred virtual currencies at the end of 2014.

    Part of the reason for this explosion is related to the simplicity of project design and development. Just with a few clicks, users can easily create a new digital asset.

    The Evolution of the Crypto Market (Source: Statista)

    While their number is increasing almost exponentially, their values ​​are in the opposite situation. With 24/7 volatility that often amounts to more than 100%, cryptocurrencies are still considered a high-risk investment.

    After the breakthrough later last year and ATH reached in November 2021 (about $3 trillion), the total market capitalization has now dropped by more than 50% and is only hovering above $1.3 trillion. However, this number is still twice as high as the value at the end of 2020.

    Bitcoin’s dominance has also been declining over time as this coin’s capitalization shrunk to 46.3%. The main reason comes from the rise of many other altcoins like Ethereum, so people have more options to invest in besides Bitcoin. 

    Today, Bitcoin market capitalization accounts for 40-50%, downs sharply from 80% in 2014.

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