Last Updated on Tuesday, 23 February, 2021 at 12:50 pm by Andre Camilleri
The entire crypto market exploded last year, fuelled by digital coins’ impressive performance amid the COVID-10 crisis. However, crypto coins continued growing strongly in the first months of 2021 and hit new records for price and market capitalization.
According to data presented by Finaria.it, the global crypto market cap doubled in the last two months and hit $1.6trn in February.
Combined Value of all Cryptocurrencies Jumped by $600B in Three Weeks
In 2013, the global crypto market cap amounted to $10.6bn, revealed Statista and CoinMarketCap data. By the end of 2016, this figure rose to $17.7bn.
In 2017, the entire market exploded, with the combined value of all crypto coins surging by more than 3000% to $566.2bn. Statistics show this figure dipped to $128.8bn in 2018 and then recovered to $237.1bn in 2019.
However, last year witnessed the most impressive growth in the crypto market’s history, with digital coins performing as a store of value amid the COVID-19 crisis. The CoinMarketCap data show the combined market cap of all cryptocurrencies surged by 220% year-over-year to $762.9bn in 2020.
The global crypto market cap continued growing strongly in the first weeks of 2021 and hit almost $1 trillion in January. Statistics show this figure increased by more than $600bn in the next three weeks.
Ethereum Soared by 1400% in a Year, Bitcoin’s Market Cap Skyrocketed to $1 Trillion
Although the entire crypto market boomed in 2020, some digital coins performed much better than the others. Statistics show Ethereum witnessed the most impressive market cap growth last year, rising from $14.2bn in January to $68.8bn in December. However, the price of the world’s second-largest cryptocurrency exploded in 2021 and Ethereum`s market cap hit $216.4bn last week, a 1400% increase year-over-year.
The market cap of the world’s leading crypto coin, Bitcoin, skyrocketed to $1 trillion last week, a 600% increase in a year.
As the third-largest cryptocurrency by market cap, the combined value of all Tether coins surged by more than 700% in the last year. In January 2020, the market cap of the world’s most used stable coin amounted to $4.10bn. This figure jumped to $33.5 bn last week.
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