2021 is sure to be a boom year for the crypto market, Bitcoin repeatedly setting new all-time highs (ATHs), but one of them has disappointed investors.
Since the beginning of 2021, the total crypto market capitalization has grown 190% from under $800 million, reached an ATH of over $3 trillion in early November, and is now over $2.3 trillion. at the present time.
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Top 3 most successful cryptocurrencies in 2021
The top 10 cryptocurrencies in terms of capitalization have had certain changes compared to January 1, 2021 because then there were Litecoin (LTC), Chainlink (LINK) and Bitcoin Cash (BCH). But things have changed, these altcoins have dropped out of the top 10 and given way to Solana (SOL), USDC and Avalanche (AVAX) for the time being.
Dogecoin
Dogecoin (DOGE) has seen phenomenal growth this year, largely driven by Elon Musk’s social media posts. Kicking off the new year with a price of $0.004, DOGE didn’t really catch the attention of traders.
DOGE had its first small push in February, followed by a series of shills by Elon Musk, the so-called Dogefather in the crypto space.
The DOGE price really exploded in April and May when it rallied more than 1,100% to an ATH of $0.731 on May 8, pushing it to fourth place in terms of capitalization.
Elon Musk touted the virtues of DOGE as a payments network in June, leading to another round of FOMO.
DOGE has been down from its epic pump since May. But all the extra mainstream media it has along with its list of major exchanges still gives it a 3,800% gain this year. In terms of BTC, DOGE is up 2,100% on the year, from 168 satoshis to 3,750 sats.
DOGE/USD price chart | Nguồn: Coingecko
DOGE currently ranks 12th on Coinecko.
Solana
The native token of the Solana blockchain has also had a pretty impressive year. At the beginning of 2021, SOL is priced at just $1.52 and trades at $150 today, after seeing a massive increase of more than 9,800% against the USD and 6,473% against BTC in less than a month. full one year.
SOL hit an ATH of $260 in early November, breaking into the top 4 cryptocurrencies, but fell sharply as the market began to correct in early December, dropping it to fifth place at the time of writing. in.
Massive investments and increased adoption amid soaring transaction costs on Ethereum have boosted momentum for Solana, which is also billed as an “Ethereum destroyer.” In June, Solana Labs raised $314 million through a private token sale led by Andreessen Horowitz and Polychain Capital.
SOL/USD price chart | Nguồn: Coingecko
From 112th place at the beginning of the year, SOL has made a huge leap and is now in 5th place.
Terra
The native token for the DeFi Terra payment network has also quickly entered the top 10 cryptocurrencies in a short time. LUNA kicked off the new year at around $0.65 and was barely known to mainstream retail traders.
LUNA prices started to increase in March and May, but they haven’t really exploded since August, continuously setting new ATHs and hitting $101.7 on Dec. 25. At the time of writing, LUNA is trading up 8,515 percent against USD and up 5.815% against BTC since the start of the year.
The rapid expansion of partners across the Terra ecosystem was a major factor in LUNA’s bullish price action.
LUNA/USD Price Chart | Nguồn: Coingecko
LUNA has climbed from 62nd place at the beginning of the year to its current 9th position.
Some other cryptocurrencies that are also worth mentioning for having posted impressive gains this year include Avalanche’s AVAX up 2,330%, Polygon’s MATIC up over 12,000%, and Binance Coin (BNB) up 1,271 percent this year. .
Top 3 most failed cryptocurrencies in 2021
Internet Computer
Amid a world of hype, Dfinity’s Internet Computer (ICP) project exploded onto the market after five years of secret development this year. It promises an Internet revolution that replaces the trillion dollar legacy Internet and IT industry by allowing developers to install their code directly on the “public Internet” without having to rely on third party hosting companies.
Speculators frantically looked for further successes in the crypto space when the ICP token was listed on major exchanges causing the price to skyrocket to an ATH of $700 on May 10.
Since then, the ICP price has mostly slid over time, sinking to an all-time low of $24.29 on Dec. 4, down 96% vs USD and 93% vs BTC from its peak. just 7 months ago.
ICP/USD Price Chart | Nguồn: Coingecko
The long slide pushed ICP from the current 8th position to 37th.
EOS
The one-time darling of the cryptocurrency that many touted would kill Ethereum has actually done very little in terms of price action this year, while the altcoins around it have surged.
EOS was kicked out of the top 10 by market cap on January 1, and it continued to drop throughout the year. EOS price has only increased slightly by 15% for the year, so it is also one of the losers compared to the entire market.
EOS is trading at $3.25 at press time, falling to the 50th spot. It is now down 86% from its ATH of $22.71 in April 2018 and has lost 22% against BTC during the year.
In early November, members of the EOS ecosystem expressed their dissatisfaction with the direction of the network.
EOS/USD Price Chart | Nguồn: Coingecko
In terms of capitalization: Position from the beginning of the year is 15, current position is 50.
Currency
Privacy-focused cryptocurrency Monero (XMR) has also plummeted on the charts in terms of capitalization this year as several major exchanges delist the security coin.
The XMR price is up just 17% this year and has no chance of being near its ATH of $524 in January 2018. Currently trading at around $183, XMR is down 66% against ATH, resulting in the dropped to 47th in the capitalization rankings and lost 30% against BTC since the start of the year.
XMR/USD Price Chart | Nguồn: Coingecko
From 16th place at the beginning of the year, XMR has now slipped to its current position of 47.
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