This year had been suitable for the cryptocurrency industry; in fact, this year, the market experienced some of the all-time highs for some. This year the cryptocurrency industry gained a lot of new investors, a lot of which had no idea what cryptocurrency was before.
There were also a lot of developments and projects this year in which we would still be looking forward to in the future. There can be a lot of factors why investors tend to trade their cryptocurrency investment; most of the time, it is because of the fluctuations and dips happening in the market.
Just remember, when you are doing trading, you must think about whether it would be healthy for your investment to do so. The best advice for this is to do research, listen to experts or even try to read the information on Bitcoin Evolution.
The very first cryptocurrency was to be launched in 2009 by the pseudonymous Satoshi Nakamoto. Bitcoin runs in a public ledger through the blockchain system and is distributed and verified by complex computing powers.
Bitcoin from then to now is still pivoting in the cryptocurrency market; its value actually skyrocketed, making it the house name for all the cryptocurrencies. Approximately five years ago, you could purchase a single Bitcoin for a price of $500, but as of now, a single Bitcoin’s price is almost $57,000, making the growth of 9122% and now has the biggest market capacity of $821 billion.
This is both cryptocurrency and a blockchain platform, which is actually fancied by developers. Ethereum offers a lot of features and potential to both its coin and its platform. They have these so-called smart contracts in which it is automatically generated once conditions are met.
Ethereum also has a wide range of projects with NFT’s which has a surprising amount of engagement these days. This cryptocurrency actually grew its value in just five years, before it had a price of just $11 and now has the price of almost $3,000. Ethereum now has a market capacity of over $353 billion and has a growth of 27,000% in its value.
All of the cryptocurrency uses blockchain on transactions, but with polka dots, it is actually making it a goal to integrate by making it a cryptocurrency that can be connected to different sorts of blockchain networks.
This can actually configure how cryptocurrencies work, which has actually resulted in impressive growth ever since it was launched in 2020. Its value actually grew a total of 872%, in which a single polka-dot had a value of $2.93 before and now $25.61. Polkadot now has a market capacity of over $28 billion.
This cryptocurrency originally started out as a joke in 2013; its developers actually launched Dogecoin to mock the current financial method that we have. Thanks to the businessman and billionaire Elon Musk, who also satirically engaged with some of his followers on his Twitter account about Dogecoin. Considering Elon’s image to the public, that interaction actually caused Dogecoin’s value to fluctuate.
Although Dogecoin is considered as a memecoin, it now has legit purpose and projects since Elon had been collaborating with the developers as well. Way back in 2017, a single Dogecoin only had a value of $0.0002, which now has a value of $0.20, which is actually a 101,800% increase. Dogecoin now has a market capacity of $26 billion.
Tether is developed to be a stablecoin, meaning it is backed or relates its value to the fiat currency like U.S. dollars, Euros, or Yen. Unlike the other cryptocurrency, its value is affected by many factors.
A lot of investors actually opt to have this in their cryptocurrency portfolio because they are aware that most of the cryptocurrency is highly volatile; hence this does not mean that stablecoins like Tether cannot experience volatility. Tether still has a value of $1 and has a market capacity of almost $67 billion.