Cryptocurrency market rose 80,466% in 10 years
CriptoFácil – The cryptocurrency market has been one of the most revolutionary and disruptive areas of financial technology in the last decade, changing the way investments are made and how financial transactions are carried out.
Since 2013, the total cryptocurrency market cap has increased by an incredible 80,466%, according to a recent report by Coinmarketcap.
While the market has seen some significant downturns over the years, including the $1.5 trillion drop in 2022, it is still notable for its rapid expansion and diversification.
Most crypto assets are based on blockchain, a technology that allows the creation of decentralized and secure networks, which are not controlled by any government or financial institution.
One of the most well-known crypto assets is , which was created in 2009 and is still the largest cryptocurrency by market cap. However, since then, many other cryptocurrencies have emerged, each with their own features and purposes.
A screenshot taken from Coinmarketcap hosted on archive.org shows that, in 2013, there were 14 cryptocurrencies listed on the site. This included Bitcoin, , Peercoin, Namecoin, Feathercoin, Terracoin, Devcoin, Freicoin, Novacoin, Chncoin, Bbqcoin, Mincoin, Bitbar and Ixcoin. Together, the value of these crypto assets was just over $1.32 billion.
Ethereum game changer
, launched in 2015, was a game changer for the cryptocurrency market, enabling the smart contract ecosystem. These contracts allow crypto assets to be used for a variety of purposes including payments, decentralized financial services and more.
Other cryptocurrencies such as Litecoin, and , have also gained prominence in the market, each with its own unique features. The cryptocurrency market attracts a growing number of investors and traders, with more and more companies starting to accept cryptocurrencies as a payment method.
Despite occasional market dips, the growing adoption of cryptocurrencies and continued innovation in blockchain technology suggest that the market has a bright future. As technology continues to evolve and cryptocurrency applications continue to grow, it is likely that we will see more growth and changes in the market in the coming years.
By CriptoFacil