Let’s forget about folkloric and extemporaneous phenomena such as dogecoin, shiba inu and other memecoins. The entire cryptocurrency sector in 2021 has changed its face in the wake of the expansion of borders and new applications.
The valuations of the major currencies testify to this: if you think that bitcoin is the asset that has earned the most this year, you are very wrong. In fact, it was far surpassed by Binance Coin, which jumped to the third step among the most cap cryptocurrencies during the year. And not without reasons.
Let’s see the figures put together by Arcane Research, an analysis company dedicated to the crypto world. Bitcoin gained 73% – still doing better than the S & P500 (+ 28%) and gold (-7%) – but even better did ethereum, the second cryptocurrency that gained 455%, and above all Binance Coin, jumped. in third place thanks to a round jump of 1,344% with a total capitalization of 87 billion dollars.
The result is that bitcoin has definitely lost ground compared to altcoins, while the expansion of the crypto ecosystem pushes the alternative coins on the basis of uses linked above all to smart contracts and decentralized finance applications. “While bitcoin showed solidity in 2021, we have seen a steady flow of capital pour into altcoins,” say Arcane Research analysts.
The number one cryptocurrency remains cryptocurrency with a capitalization of 9 billion, but its weight within the total of digital currencies has dropped from 70% at the beginning of the year to 40% today, while ethereum has grown to 20% and Binance Coin to 9.5%, data that concretely indicate the change of pace that took place this year, with the evolution of the market based on concrete elements and the application of cryptocurrencies.