2017: The Winners And Losers In The Crypto Marketcap
We began 2017 with a Bitcoin dominance of over 87%. That's enormous.
Let's look at the top 10 players, by market cap, in this exact day, one year ago:
| Token | Market cap (%) |
|---|---|
| Bitcoin | 87.32 |
| Ethereum | 3.92 |
| Ripple | 1.32 |
| Litecoin | 1.2 |
| Monero | 1.07 |
| Others | 4.50 |
I included only the players which experienced the highest ups and downs.
Now, let's look at the charts now:
| Token | Market cap (%) |
|---|---|
| Bitcoin | 37.94 |
| Ripple | 16.03 |
| Ethereum | 12.07 |
| Litecoin | 2.10 |
| Monero | 0.91 |
| Others | 18.58 |
In order to understand all this, you have to put it in perspective. Here's a helping chart, displaying total market cap during last year.
It started with $17 billion and it ended with $572 billion. Market cap grew more than 33 times during 2017.
Now, let's see the losers:
- Bitcoin lost half of its dominance. That's humungous.
- Monero lost about 0.10%. That's very. very little, compared with what happened around the entire spectrum. It shows unexpected resilience from Monero.
Now about the winners:
- Ripple grew 12 times.
- Ethrereum 3.2 times.
- Litecoin almost doubled, with a growth of 1.75 times.
- "Others" (Steem included) grew 4 times. More than Ethereum.
Personally, I think the biggest winner is the "Others" area. It shows an exceptional potential for alts during 2018.
I am rather cautious towards Ripple's growth and I'm expecting Ethereum to bounce back significantly once they move towards PoS (Casper).
Monero will probably continue to be the more stable currency and Litecoin will probably plateau.
But the most important consequence of Bitcoin losing its dominance will be the need for new fiat gateways, bypassing the good ol' BTC. The proliferation of more direct fiat to crypto gateways may propel cryptos to unprecedented levels of usage (which may positively impact their price). Just imagine: exchanging Steem directly for USD, or EUR, without using a proxy like Bitcoin or Ethereum.
2017 is basically over and it was an amazing year for cryptos.
Let's dive into 2018!
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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Fair enough, nice to see it in a nutshell. Litecoin plateau i don't know, predicting plateaus in crypto's is quite a dare, respect for that :-)
I'm not predicting, I said "it will probably plateau" :) But yes, I agree that plateauing in crypto is almost impossible.
Thanks for the post, good insight. In my opinion the game changed quite a bit back in November this year, as far as the general public getting in. I agree the "other" category is intriguing because the heaviest of the heavyweights are not going to be able come up with all the innovations in the blockchain phenomena to carry the group to the next level. I think the developments are going to be very fast and furious, and for the near future don't be shocked to see such volatility as we have seen the last six weeks. Which is good. Daytraders are not going to be able to help themselves when they see the daily swings in this.
Any time frame on when PoS for ethereum is happening?
Only the ETH team knows that, but my hunch is somewhere during the first half of the year.
Things change fast, gotta adapt yourself
Great summary as always. Looking forward to see what the next year brings 👍
In my opinion, the market is recognizing among the many coins that are the most efficient. Bitcoin is not among these coins
I personally do think Ripple performed really well. BTC no doubt remained at the Kings' place while ETH made me surprised too.
Through your graphical represtentation it made clear everything.
Indeed 2017 spebt beautifully while i am sure lot more to come in 2018 regarding Crypto World.
P.S: You remained very much active in 2017 and we appreciate your analysis you did time by time, Take a bow ♡
Loking really forward for your success in 2018 too, keep sharing such information with us @dragosroua
Stay Blessed, Happy New Year
"exchanging Steem directly for USD, or EUR, without using a proxy like Bitcoin or Ethereum" @ned i hope this is one of your resolutions for 2018 :D
Ethereum had the great stable growth that's more like it
I see steem in top ten after fiat pairing. 2018 will bring a lot of surprises. Happy new year man !
Happy new year! :)
It is crazy to look back on the year that was for cryptocurrency. I can't imagine what 2018 has in store for us. I like the idea of BTC somewhere between 30-40% dominance, gives alts a fighting chance. All the best in 2018