Evolution of Crypto Economy : Brief Analysis Of Coinmarket
Look at these stats mentioned in picture :
Don’t get surprised. Yeah, this snapshot was taken in April 2013. That time Bitcoin was worth $135 and there existed only 7 cryptocurrencies. Who would have thought that in near future, this market is going to become an economy soon.
January 2014 :
And within just a year, Bitcoin grew from $135 to $864 and there were 67 cryptocurrencies now in the market. This was the time people thought Bitcoin is worth investing and investors started to invest in Bitcoin on a big scale. And then the crash happened and Bitcoin was at $281 in January 2015.
Investors started to panic and a spree of panic sell happened which became the most regretting moment ever for investors. Those, who were not disturbed by this market crash believed in the technology and waited for the right time to come. By 2015, there were about 491 cryptocurrencies in the market. The market was building up and the signs of possible revolution could be seen by the increasing numbers of Cryptocoins in the market, even after Bitcoin crash.
January 2015 :
With total 551 coins in January 2016, coinmarket was slowly but steady making its way to become the next big thing. Bitcoin was priced $431 this time and instead of sudden jump, it was going slowly this time. Let’s have a look of market in January 2016.
January 2016 :
Now, in January 2017, Bitcoin was a trending term and it got a lot of attention from all over the world. This was the time when people started to investing into alternative coins (altcoins) too and ethereum was priced at $8 as a new player. In true means, this was the first step towards sky reaching heights of Coinmarket. So, in January the total market cap was at $17 Billion, with Bitcoin priced at $963.
January 2017 :
Then came the months of April-May-June and they changed the course of Crypto-economy. Why? See the graphs and stats closely.
March 2017 :
This was the time when there were some major companies considering and understanding the potential of Blockchain technology. Investors, technology enthusiasts, Big ventures could see the future of Blockchain and everybody wanted to become the early participant of Blockchain revolution. Research & Development started on a huge level. This was also the time when Ethereum was introduced and people were deploying smart contracts and were making dapps on Ethereum. This pulled the Ethereum growth on god level. Because stats of April were this :
April 2017 :
with 752 cryptocoins in market total market cap was $26 billion in April 2017. Now let’s see May 2017 :
with 766 cryptocoins total marketcap was at $46 billion and the best growth ever happened during May and June 2017 because in the starting of June 2017, Market cap reached the mark of $90 billion with Bitcoin priced at $2505.
June 2017 :
June 2017 was the checkpoint where cryptocurrency market grabbed attention from all over the world and an entire new economy was established. So, let’s go through the numbers again for year 2017 :
% growth in year 2017 (6 months) for following coins :
Bitcoin : 160%
Ethereum : 2800%
Ripple : 4733%
In January 2017, coinmarket capital was $17 billion and within 6 months it was at $90 billion which means 400% growth. I hope now you can see the perks of ‘hodling’.
ItsBlockchain assures you, if picked right coins to investment, you can also experience the thrill to watch your investment doubling within some months, or year. All this data and stats provided above are majorly for growth of coinmarket capital within 6 months. There is still 4 months are left for this year to end and we can only imagine what’s going to happen by the end of the year.
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Images and stats by coinmarketcap.com