09 February 2022 | ZebPay Trade-Desk
It’s been a record year for the cryptocurrency market, which in brief surpassed $3 trillion in worth in November. Bitcoin, the biggest cryptocurrency by market value, and ether, the second-largest, hit uncomparable highs, whereas altcoins, like meme-inspired dogecoin, surged in popularity. Alternative digital assets, like non fungible tokens, or NFTs, are oversubscribed for variant greenbacks aboard art in major auction houses like Sotheby’s and Christie’s. In addition to art, NFTs representing in-game assets and digital land soared in value as well.
Blockchain-based applications, as well as decentralised finance, or DeFi, garnered interest from each retail and institutional investors, pushing the expansion of Web3, that is that the decentralised iteration of the web supported blockchain technology that powers NFTs and underpins cryptocurrencies.All of this helped push cryptocurrency into the thought in 2021.
In the charts below, we have compared the top 12 crypto assets, by looking their market dominance and market capitalization when pitted against each other:
- Bitcoin (BTC) is the market leader. The asset has a 56% market dominance among the top 12 coins, and has a market capitalization of $824bn. The asset has fallen by 4% YTD, after falling from the ATH of $68,789 in November last year.
- Ethereum (ETH) is the leading altcoin. The asset has a 25% market dominance among the top 12 coins, and has a market capitalization of $370bn. The asset has fallen by 17% YTD, after falling from the ATH of $4,891 in November last year.
- BNB, is the native coin of the top crypto exchange, Binance. The asset has a 5% market dominance among the top 12 coins, and has a market capitalization of $68bn. The asset has fallen by 20% YTD, after falling from the ATH of $691 in November last year.
- XRP has appreciated significantly over the past week, up 37%. The asset has a 3% market dominance among the top 12 coins, and has a market capitalization of $41bn. The asset has risen by 5% YTD. It’s ATH stands at $3.84, which it hit way back in January of 2018.
- ADA has seen an uptick, up 10% week on week. The asset has a 3% market dominance among the top 12 coins, and has a market capitalization of $41bn. The asset has fallen by 16% YTD. It’s ATH stands at $3.10, which it hit in the last quarter of 2021.
- SOL has taken a significant hit this year. The asset is down by over 55% from its ATH of $260. The asset has a market capitalization of $36bn, and a dominance of 2.5%, among the top 12 coins. The asset is known as the ‘Ethereum Killer’, thanks to its applicability, utility and transaction volume as well as speed.
- Terra Luna is another blockchain which has been quite in the news. The native utility token has a dominance of 1.5% and a market capitalization of $22 Billion. The asset has fallen by 32% since YTD after touching a height of $103 in december 2021.
- Avalanche is one of the top competitors of ethereum and has been the talk of the town in the last quarter of 2021. The asset has a dominance of 1.4% among the top 12 coins and has a market capitalization of $21 Billion. It has decreased by 24% since last december.
- Polkadot has picked up volume and fame last November during its parachain auction. The asset has a dominance of 1.4% among the top 12 coins and has a market capitalization of $21 Billion. The token has decreased by 19% YTD.
- The meme coin which rose to fame by a viral tik tok and with the support of Musk now hold a spot in the top coins. The asset has a dominance of 1.4% and has a market capitalization of $20 Billion which created an ATH last year May 2021 at $0.73.
- SHIBA has picked up the trend of meme coins and now occupies the spot at top 10 coins. The asset has a market dominance of 1.2% and has a market capitalization of $17 Billion. The asset has fallen by 8.99% YTD after touching $0.00008845 on 28th October last year.
- Polygon rebranded itself in 2021 and quickly rose to fame as an optimization of the Ethereum network. The asset has a market dominance of 1% among the top coins and has a market capitalization of $14 Billion. The asset has fallen by 23% YTD after touching $2.92 ATH in december 27th last year.
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Disclaimer: This report is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any investor. All investors should consider such factors in consultation with a professional advisor of their choosing when deciding if an investment is appropriate. The Company has prepared this report based on information available to it, including information derived from public sources that have not been independently verified. No representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness or reliability of the information, opinions or conclusions expressed herein. This report is preliminary and subject to change; the Company undertakes no obligation to update or revise the reports to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Trading & Investments in cryptocurrencies viz. Bitcoin, Bitcoin Cash, Ethereum etc.are very speculative and are subject to market risks. The analysis by the Author is for informational purposes only and should not be treated as investment advice.
