cryptocurrency Despite market Despite $1.5 Trillion Loss in 2022 Downturn:- Despite a $1.5 trillion loss in 2022, the cryptocurrency economy has grown by 80,466% from 2013. Downturn:- On May 9, 2013, which was nine years and nine months ago, coinmarketcap.com listed 14 cryptocurrencies, with bitcoin having a market cap of $1.24 billion and 11.13 million units in circulation. The same website reports that there are 22,709 crypto assets available right now. Also, the market valuation of the cryptocurrency industry has increased by 80,466% since 2013, which is a considerable rise.
The Crypto Economy’s Evolution: From 14 Coins to 22,709 Coins
From its peak in November 2021, the crypto economy has lost about $1.5 trillion, yet its market capitalization has nevertheless climbed by more than 80,466% since 2013.
There were 14 coins listed on coinmarketcap.com (CMC) in 2013, according to a snapshot of the website hosted by archive.org.
Among them were ixcoin, feathercoin, terracoin, devcoin, freicoin, novacoin, chncoin, bbqcoin, litecoin, peercoin, bitcoin, litecoin, and peercoin. On May 9, 2013, the total market value of these crypto assets was just over $1.32 billion.
cryptocurrency Despite market
Of course, many of these coins have since been forgotten, and many of the most popular cryptocurrencies today, like as ethereum, bnb coin, solana, cardano, tether, usd coin, and avalanche, were not around then.
The $1.06 trillion cryptocurrency market currently includes $137 billion in value from stablecoins, which did not exist back then.
BTC was trading for much less than it is today on May 9, 2013, when it was going for $111.87 per coin.
Cryptocurrency Despite Marke,
Compared to the 19.30 million BTC in circulation today, there were only 11.13 million BTC in existence back then.
Litecoin’s (LTC) market capitalization was the second-largest in 2013, and Bitcoin’s overall valuation was $1.24 billion. According to the CMC snapshot, LTC’s market value at the moment was about $59.05 million.
LTC’s market cap is at $6.79 billion, which is substantially higher. Even though Peercoin (PPC) is a long-forgotten coin, its market valuation is currently about $13.15 million. Peercoin’s (PPC) market capitalization was $5.23 million.
cryptocurrency Treding
Terracoin (TRC), among other coins, did not fare as well. The market capitalization of TRC was $1.14 million in May 2013 and is now $340,296. However, certain coins have fallen so far out of favor that CMC and other coin market cap aggregation websites no longer list them.
cryptocurrency Despite market Despite $1.5 Trillion Loss in 2022 Downturn
Only a few crypto exchanges existed in 2013, and some of them were, to put it mildly, dubious. In general, the infrastructure of the crypto economy was a shadow of what it is now nine years ago. Digital currency wallets were extremely scarce.
The year 2022 was challenging for the cryptocurrency industry, and several companies failed as a result of the downturn.
Despite the crashes and the hundreds of billions that drained from the market, it is a substantially larger forest compared to the small patch of trees it previously was in 2013.
There aren’t many industries that have grown by 80,466% in less than ten years, aside from the internet itself.
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