Sunday, January 29

Cryptocurrencies 2021: winners and losers

Ethereum it has had a good performance, managing to surpass the mark of US $ 4,000, a line that it maintains with enough certainty. Its update produced weeks ago excites the market and there are those who believe that the time will come when it will surpass Bitcoin.

Beyond Bitcoin and Ethereum, like the main two, there are other cryptocurrencies that shine in the market. Others, meanwhile, were fading.

Among the cryptocurrencies that earned the most in 2021 are Solana (SOL), USDC Y Avalanche (AVAX), which entered the top 10 of cryptocurrencies in terms of market capitalization. At the beginning of years they were on that list Litecoin (LTC), Chainlink (LINK) y Bitcoin Cash (BCH), who have abandoned it at the end of the year.

Dogecoin skyrocketed this year, mostly fueled by Elon Musk’s surreptitious posts on social media. On New Years Day, the DOGE token was priced at just $ 0.004 and was ignored by most cryptocurrency traders. DOGE made its first small stretch in February after the first of what would be several climbs driven by Elon.

The price of DOGE really skyrocketed in April and May, when it rose more than 1,100% to hit an all-time high of $ 0.731 on May 8, pushing it up the charts to fourth place.

Musk extolled DOGE’s virtues as a payment network in June, sparking another round of FOMO for memecoin.

DOGE has been trending down from that epic May high, against both Bitcoin and the US Dollar. However, all the media coverage it has garnered, in addition to the listings on major trading platforms, have still given the joke-inspired coin a Shiba Inu a monumental gain of 3800% so far this year. In terms of Bitcoin, DOGE has gained 2,100% on the year, going from 168 satoshis to 3,696 satoshis in mid-December.

The native token of the enterprise blockchain Solana has also had a year of great earnings. In early 2021, SOL was priced at just $ 1.52, closing the year at around $ 200. This is an epic gain of close to 10,000% in less than a year.

The SOL token hit an all-time high of $ 260 in early November, but has receded as markets began to correct at the end of the year. The huge move has caused SOL to rank fifth on the market capitalization charts, having reached fourth place. Against BTC, SOL has gained 6,473% on the year.

Large investments and increased adoption following rising Ethereum transaction costs fueled the Solana network, which has also been hailed as an “Ethereum killer.” In June, Solana Labs raised $ 314 million through a private token sale led by Andreessen Horowitz and Polychain Capital.

The native token of the DeFi payment network, Terra, was also briefly in the top ten of cryptocurrencies. LUNA It started the year trading at around $ 0.65 and was largely an unknown token to average retail traders.

The price rose in March and May, but didn’t really take off until August, when a huge rally took LUNA to an all-time high of $ 77.73 on December 5. Compared to the beginning of the year, it rose 8,500%.

The rapid expansion of partners in the Terra ecosystem has been largely responsible for the bullish price action.

Some other tokens are also worth mentioning for their impressive earnings this year, such as AVAX, from Avalanche, which has risen 2,330% in the year, MATIC, from Polygon, which has risen more than 12,000%, and Binance Coin (BNB), which is up 1,271% this year.

Losing cryptocurrencies in 2021

The project Internet Computer Dfinity appeared on the scene this year after 5 years of largely secretive development. It promised an Internet revolution that would replace the billion-dollar Internet and computer industry by allowing developers to install their code directly on a “public Internet” without having to rely on third-party hosting companies.

Speculators, in their quest for the next big investment in the cryptocurrency space, pounced on ICP tokens when they hit major exchanges in mid-May, sending the price skyrocketing to an all-time high of $ 700 on May 10.

Since then, the price of ICP has practically plunged to a record low of $ 24.29 on December 4, a painful 96% drop from its peak just 7 months earlier.

Eos (EOS), the once darling of cryptocurrencies, who many believed would wipe out Ethereum, has actually done very little in terms of price movements this year, while those around her have risen.

EOS had already left the top ten of the market capitalization by January 1 and continued to decline positions throughout the year. EOS prices have only gained a small 15% throughout the year, when others were in three and four figures, so we would consider it a loser if we look at the bigger picture.

CurrencyA privacy-focused cryptocurrency, it has also fallen sharply on the market charts this year, as several of the major exchanges delisted digital assets that offer anonymity.

XMR prices have rallied just 17% this year and haven’t gotten anywhere near their January 2018 all-time high of $ 524. Currently trading at around $ 183, the token has plunged 66% from that high, causing it to drop to 49th on the market capitalization charts. Monero has lost 30% to Bitcoin since the beginning of the year.

To put these gains and losses in perspective, Bitcoin is up 67.5% so far this year, while Ethereum has gained 440%.