2021 was undoubtedly a bull market with Bitcoin (BTC) which reached record highs several times this year. But not all cryptocurrencies work the same way. Apart from most winners, there were many losers when it came to prize wins.
Since the beginning of 2021, the total market value of cryptocurrencies has grown by 190% from less than $ 800 million to over $ 2.3 trillion. In early November, it reached a record high of more than $ 3 trillion.
Top 3 cryptocurrency companies in 2021
The top 10 cryptocurrencies looked slightly different in terms of market value on January 1, 2021, when they included Litecoin (LTC), Chainlink (LINK) and Bitcoin Cash (BCH). They withdrew and made room for Solana (SOL), USD Coin (USDC) and Avalanche (AVAX) by the end of the year.
Dogecoin (DOGE) is on the rise this year, primarily thanks to Elon Musk’s secret post on social media. On the first day of the new year, DOGE was only $ 0.004 and most cryptocurrency traders ignored it. DOGE made its first small leap in February, after the first of Elon’s series of subsequent pumps.
DOGE’s price actually rose in April and May when it rose more than 1100% on May 8 to a record high of $ 0.731, pushing it to fourth place on the cryptocurrency market value charts.
In June, Musk praised DOGE’s virtues as a payment network, which led to another round of meme coin FOMO.
DOGE has fallen from this massive jump since May against both bitcoin and the US dollar. But all the extra mainstream media it owns, in addition to its large trading platform listings, still provide a massive gain of 3800% this year, inspired by the Shiba Inu joke. In BTC, the DOGE interest rate has increased by 2100% compared to the same period last year, from 168 satoshis to 3696 satoshis in mid-December.
Dog / USD YTD – coingecko.com
Starting position by market value at 15.26 – Final position: 11
Solana’s blockchain token (SOL) also had a record year in terms of earnings. At the beginning of 2021, SOL was worth only $ 1.52, at the time of writing it was trading for just over $ 150. This is an incredible increase of more than 9800% in less than a year.
SOL reached a record high of $ 260 in early November, but withdrew as markets began to correct towards the end of the year. This massive move placed SOL at number five on the stock market value lists after the company reached the top of number four. Compared with BTC, SOL increased by 6,473% during the year.
Significant investments and wider adoption due to the sharp rise in the price of transactions with Ethereum gave impetus to the development of Solana, also known as the “Ethereum killer”. In June, Solana Labs raised $ 314 million through a private token sale led by Andreessen Horowitz and Polychain Capital.
SOL / USD to date – coingecko.com
Starting position: 112 – Ending position: 5
The decentralized financial payment network Terra-token briefly entered the top ten cryptocurrencies. Terra (LUNA) started trading for around $ 0.65 a year and was largely unknown to large retailers.
Prices rose in March and May, but did not really rise until August, when LUNA reached a record high of $ 77.73 due to heavy pumping on 5 December. 8515,% since the remuneration of year g until today. In Satoshi, LUNA is up 5,815% this year compared to BTC.
The rapid expansion of partners in the Terra ecosystem is largely responsible for the upward movement of the price.
LUNA / USD to date – coingecko.com
Starting position (CMC): 62 – End position (CMC): 10
Several other companies also deserve to point out impressive gains this year, including Avalanche’s AVAX, which grew 2.330% year-on-year, Polygons MATIC, which grew above 12,000%, and Binance Coin (BNB), which grew this year. with 1271%.
The 3 biggest losers in cryptocurrency in 2021
Internet Computer (ICP)
In the midst of the hype this year, after five years of largely secret development, the Dfinity Internet Computer Project has emerged. He promised an Internet revolution that would replace the outdated trillion-dollar Internet and IT industry by allowing developers to install their code directly on the “public Internet” without resorting to third-party hosting companies.
Speculators, frantically chasing the next big hit in the crypto space, loaded ICP tokens when they were listed on major stock exchanges in mid-May, causing prices to rise to a record high of $ 700 on May 10.