DataLight Brings New Insight on Crypto Market Cap with Visualization Depicting Top 10
DataLight, a firm dedicated to providing data on crypto projects in the form of market data, social media activity and blockchain data, has recently compiled a video that explores the market capitalization of cryptocurrencies since the beginning of their existence until present day.
For the longest time, the market capitalization was given importance to as it indicates to investors what the general population of all crypto investors are leaning towards when it comes to investments. Additionally, it gives some sense of what many believe are certainly going to strive over the long-run.
DataLight has tweeted the following, which was definitely a necessary insight on how far we’ve come since the existence of Bitcoin. Here’s what was shared:
Just 10 years ago first #Bitcoin transaction was sent and it’s astonishing to see industry growth and how many new assets have gained traction.
In this unique visualization by DataLight, you can track the top-10 crypto assets by market cap, from crypto’s early days until today. pic.twitter.com/JIYT3KagwD
— DataLight (@DataLightMe) April 17, 2019
Upon playing the video, one would notice that since 2013, Bitcoin [BTC] and Litecoin [LTC] have been dominating players amidst the several crypto projects that have entered, made a major impact and then became extinct. When Ripple [XRP] entered a little later in the year, LTC and XRP were fighting between the second and third positions.
Ethereum [ETH] then came into existence in 2015 and managed to secure the second position in 2016, pushing both LTC and XRP down a position. Interestingly, XRP did manage to take ETH over in 2017, as we may have all already noticed, but that was a brief milestone.
News outlet, NewsBTC also reported on this matter and noticed the entry and bangs created by projects such as Dogecoin, Omni, Nxt and Auroracoin, most of which have travelled down the list of top 100 cryptos to date (https://www.newsbtc.com/2019/04/17/visualized-bitcoin-ethereum-ripple-and-the-rest-of-crypto-battle-for-the-top-ten/).
The crypto sphere has definitely come a long way. Bitcoin’s market capitalization is 2013 was roughly $1,418,969,746, and now, it sits at roughly $70,897,804,441. However, it’s no surprise that there were instances in between these years that we’ve seen some drops in market capitalization.
Now that a complete look at the market capitalization has been provided, do you still think viewing it as a significant factor is ideal? Let us know what else we should be considering in the comments below.
Live Bitcoin (BTC) Price:
1 BTC/USD =$48,982.0303 change ~ 4.36%