We thank God that 2017 was the year that cryptocurrency became more popular among many. This calls for review between and believe and facts on what really transpired in the cryptocurrency world. It may surprise you to know that Bitcoin is not in the top ten best performers of the year. Yeah, I guess you are surprised.
Okay, let’s briefly look at it once again. XRP as abbreviation which is popularly called Ripple skyrocketed to 36,000% which made it the world’s best performed digital asset. Ripple is cheeper and faster in transactions which made banks in Asia to be eager to adopt their operational platform into their cross-border payment. It made a very impressive path in the last three weeks of 2017. It gained 800% just from 7th to 31st December. Remember that it became the second largest cryptocurrency in the world. It favoured ICO platform and gave 9,000% gain to them.
XEM popularly called Nem which is the eight the largest cryptocurrency in the world made enormous gains and rose up to 30,000%
ARDR known as Ardor is at twenty-six position in the cryptocurrency world made its gain up to 17,000%
XLM Popularly called Stellar which is at the tenth position in the cryptocurrency world made it’s gain up to 14,400%
The father of cryptocurrency BTC growth is one thousand three hundred percent, however, it is important to note that it was twenty times over 1st January levels.
At the beginning of 2017 the total cryptocurrency market cap was $18 billion but by the end of last year. it became $610 billion with over one thousand four hundred cryptocurrencies. This represents a gain of about 3,300%. At the end of 2017, we had about 19 cryptocurrencies that made five million dollars or more as it's market cap and 33 cryptocurrencies having there own at one billion dollars.
The more companies brings out their coin the more altcoins we will have this year. The ICO was able to raise more than five billion dollars in last year especially between September and December, yet the Chines government placed a banned on them. South Korea placed some restrictions but the United States is carefully evaluating token sales before knowing the right decision to make. Well, in as much as it is not clear what will become of the market in the next twelve months, it is believed that some tokens will fail in other to give way to the higher superior tokens to rise to the top.
Thanks for reading this brief analysis, I appreciate.
Keep it up @jyzaza
Nice post @jyzaza for explaining this beyond my expectations
Thanks @christianolu
Yeah all true
And even the market cap moving from 50 billion to over 500billion
Nice write up@jyzaza
And what shock me most was the ripple movement this year
Thanks @mathematrix the market cap is often the determining factor for should growth
Nice post @jyzaza, it goes to show that cryptocurency has come a long a way.
but some came and took over the rest.
Exactly, life is all about planning well. Thanks @chiplus
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It depends on what you want and how you want it @farmingbot there are trading platforms where you can trade.
I don't understand your question @farmingbot but go to coinmarketcap.com check the biggest gainers and losers. Check their trends using the graph. You will have an idea how the market works. But remember not sure of your question.