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.
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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