The Growth Of Cryptocurrency Around The Globe
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What do you know about the top cryptocurrencies in the world today? What are the top cryptos on the market at the moment? How many great successes have there been? In this post, we’ll answer those questions and a few more besides.
If you’re like most people, you’ll already know something about Bitcoin. Who doesn’t? After all the hysteria at the end of 2017 and the barrage of media coverage ever since anyone who has kept an eye on the news should at least know the name.
But while Bitcoin is undoubtedly the most recognizable and popular currency with a market cap of over $111 billion, it’s not the only success story out there. In fact, considering the rapid growth of some of the alt-coins, it’s not even the biggest success story.
The Rise Of Alt-Coins
Take Zilliqa, for example. Its market cap of just under $300 million pales in comparison with Bitcoin. That is until you take into account that this coin was only released this year. That’s a phenomenal growth rate and makes you wonder if it won’t overtake BTC after it’s been in operation for a few years as well.
If you look at the list of the top 27 cryptos, neatly presented in the infographic below, you’ll see that Bitcoin has had a significant head start compared to the others. Ripple, for example, was released in 2013, a full four years after the initial release of BTC.
Some Basic Bitcoin Bytes
To be fair, we’re not comparing apples with apples here. While BTC was first released in 2009, it was a concept that took a long time to start gaining acceptance. For the first few years of its existence, it was a currency that was only used by computer geeks, criminals, and libertarians.
It wasn’t until 2013 that we started seeing more widespread acceptance of the concept in that the first altcoins started being launched and the value of the currency made a significant jump.
In 2014, Microsoft started accepting the currency to pay for items in its online store, and this was one of the first big companies to acknowledge that there might be value in it.
For general public though, it was only in 2017, eight years after the currency was initially released, that it became a household name globally. So, in all fairness to BTC, we do have to keep this in consideration. Would the other alt-coins have risen as sharply as they have if Bitcoin-mania didn’t grip the world?
Global Attention Was Focused By the Rise of BTC
It’s reasonable to say that the current attention the cryptoverse enjoys is a direct result of BTC’s meteoric growth. While the other cryptos have very different features and benefits, there would have always been the issue of igniting global consciousness.
And when it comes to the attention of the world, nothing quite works as well as the story of an underdog that not only made good but completely knocked it out of the park.