The Year Of Alt Season: Altcoins Dominate Market In 2021
2021年12月31日 - 8:00AM
NEWSBTC
Bitcoin has had a favorable year in 2021 but the altcoins have
dominated the market. The advent of the alt seasons this year had
seen multiple altcoins rally towards new highs even when
market-mover bitcoin had remained stagnant at times. This move,
coupled with the growth and adoption that rocked the crypto space
this year, has proven that the altcoins dominated the market on a
large scale. Altcoins Rule 2021 So many new things came out of the
altcoin industry this year and have found success at the same time.
Basically, the year 2021 has been one long alt season when we look
at the performance of some of these assets. Related Reading
| The Year In Review: An Emotional Rollercoaster For Crypto
Investors A lot of this growth has been driven by decentralized
finance (DeFi), NFTs, and most recently, the metaverse gaining
popularity among investors. These have brought to the forefront
some interesting projects that have had their tokens rally because
of it. Most of the time, they followed the growth of bitcoin. While
at other times, these assets broke free and rallied on their own
accord. Altcoins market cap at $1.32 trillion | Source: Altcoins
Total Market Cap on TradingView.com This has led to bitcoin losing
a significant portion of its market dominance to altcoins. Starting
the year out at about 75% of total market dominance, it has now
fallen to 38% where altcoins have continuously eaten into the
pioneer cryptocurrency’s market share. Ethereum was, as always,
leading this charge as it took the largest chunk of the market
share. Memecoins also found favor in the market this year. Coins
like Dogecoin and Shiba Inu grew into the thousand and million
percentile, as well as “ETH killers” also making a play in the
market. Mid-Caps Take The Lead Altcoins always showed out in the
indexes with triple-digit gains for the year. Bitcoin which had a
tremendous run of it this year still recorded the lowest gains
being the only index that returned double-digit gains. All other
indexes, the small, mid, and large cap indexes enjoyed the majority
of the gains. Related Reading | Bullish Signal? Ethereum
Market Dominance Sitting Above 20% Bitcoin’s returns for the year
only came out to 73%. While this is still vastly ahead of top
investment vehicles like gold, the S&P, and NASDAQ, it still
performed poorly in comparison to the other indexes. Mid Cap Index
records highest returns of 2021 | Source: Arcane Research The Large
Cap Index saw the second-lowest returns with 179%, but even it saw
returns over 100% higher than that of bitcoin. The Small Cap Index
made a splash with returns reaching as high as 485% for the year.
Finally, the Mid Cap Index came out as the winner for 2021 marking
returns of 830%. This index consists mostly of Layer 1 tokens which
had seen some of the most gains for the year, outperforming even
ethereum despite its massive 485% returns for the year. Featured
image from Investment U, charts from Arcane Research and
TradingView.com
Dogecoin (COIN:DOGEUSD)
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