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Over the past ten years, cryptocurrencies have confidently taken their place in the world of finance and changed it. Along the way, the leaders of the cryptocurrency world have changed, the once top coins have gone into oblivion, and new projects have taken their place at the top of the cryptocurrency Olympus. To date, the TOP-10 cryptocurrencies by capitalization look like this:
Against the backdrop of the recent rapid departure of the stable coin UST from the top ten, it would be informative to analyze similar stories from the past of the cryptocurrency world.
Below is a graph where you can clearly see how long this or that coin was in the TOP-10 cryptocurrencies.
The longest, for 7 years, the place in the top ten was occupied by Litecoin. Today, it is in 18th place with a capitalization of $ 4.8 billion. In 2021, its capitalization exceeded $ 21 billion. With the release of the update MimbleWimbleLitecoin may try to recover in the top ten cryptocoins.
Monero, Bitcoin Cash, Dash and Stellar also held out in the top ten cryptocurrencies for quite a long time. Now they occupy 24, 25, 27 and 72 places by capitalization, respectively.
You can look at a slice of the TOP-10 cryptocurrencies on January 1 of each year. Obviously, more than half of the once top coins have lost their positions to new projects.
TOP-10 cryptocurrencies in the past
The earliest information about cryptocurrencies is available at CoinMarketCap as of May 9, 2013.
In 2013, there were only 14 items on the list of digital coins: Bitcoin, Litecoin, PPCoin (later Peercoin), Namecoin, Feathercoin, TerraCon, DevCoin, Freicoin, Novacoin, CHNCoin, BBQCoin, MinCoin, BitBar and IxCoin. Many of these projects continue to exist, but only Bitcoin remained in the top ten.
All these early coins were issued on the basis of the Bitcoin blockchain, were experimental, their source code was open, and they were developed by blockchain enthusiasts. The capitalization of most of them was within $ 1 million.
Five out of ten coins on this list are currently trading more expensive than in 2013. Investments in them would bring a multiple growth to their owners. Two coins were below the levels of 2013, and three coins could not be found on CoinMarketCap, perhaps these projects have already been closed. Investments in the largest coins of that time turned out to be the best solution in terms of profitability.
If you look at the list of ten top coins of 2016, you can see familiar names. These are the popular Dogecoin (DOGE) coin meme with a market capitalization of $ 25 million at that time, the famous Ripple coin (XRP), which was estimated at $ 273 million, and the confidential Monero coin (XMR), which entered the market at that time.
The main breakthrough of that time was Ethereum, which immediately and firmly took second place and continues to hold it. In those days, Ethereum was trading at just over $8 and its market cap was $633 million.
In 2016, there were already 690 items in the list of coins. Of the largest 10 coins in the top 10, three cryptocurrencies remain.
In 2017, Coinmarketcap began to calculate the share of Bitcoin among other cryptocurrencies. Then its share was 85.3%. A year later, in 2018, the share of Bitcoin fell sharply to 39.8% amid the rapid interest of users in altcoins.
In 2019, the share of Bitcoin reached 51.8%, and the TOP-10 coins were updated again. Already 5 coins have fixed in the top ten.
in 2019, Binance Coin (BNB) and Tether (USDT) first appeared among the largest cryptocurrencies. The latter is associated with the rapid growth of the total market capitalization of all crypto projects.
Terra Coins – LUNA and UST
UST flew out of the TOP-10 coins and took 60th place in the overall ranking with a capitalization of $ 903 million. As you can see, this is not the worst result.
LUNA is in 212 seats with a capitalization of $ 1.2 billion, which is quite good, given the problems that have fallen on Terra.