bitcoin, remains the largest cryptocurrency with a market dominance of approximately 42% and a market cap of $1.1 trillion. However, it would not be wrong to say that in 2021, altcoins dominated the increase in value and popularity. BrokerChooser also published a report that supports this narrative. Altcoins have been a major driver of the burgeoning cryptocurrency market in 2021, according to the analysis released on Monday.
“While Bitcoin is undoubtedly still the king of cryptocurrencies, there are thousands of other coins and tokens that have experienced more popularity and price gains than Bitcoin in the last twelve months,” BrokerChooser, an international broker comparison site, said in a report.
Hosting broker reviews in 227 countries and territories, the company has published a report on the interest in cryptocurrencies via Google search data. It also compared prices in US dollars between September 2020 and September 2021 for the top 50 cryptocurrencies available.
According to the report shiba inu, was the cryptocurrency that experienced the most rise as its value increased by 2.4 million percent in this 12-month period. A recent rally placed the shiba inu 11th among the world’s most valuable cryptocurrencies. It is worth noting that after that, it lost some value and regressed to 12th place.
dogecoin On the other hand, it ranked second in the list of price increases with a growth of 9.567% this year. For dogecoin, the report states, “Especially after being frequently mentioned on social media by Elon Musk, he built his own community and made a huge debut.” expressions were used.
Behind Dogecoin is a 6.496% price increase. LUNA Traded as Terra. Developed by South Korean firm Terraform Labs, the token is used for management and staking in the decentralized financial payments network that powers a stablecoin basket for cross-border transactions. BrokerChooser says Terra’s price “exploded” in January when it raised $25 million in a funding round involving the likes of Galaxy Digital, Coinbase Ventures, Pantera Capital.
The Shiba Inu also led the way in number of searches, increasing from 70 to 1.5 million searches. Despite the coin’s “unbelievably low” price of 0.0000000003 in September 2020, searches started to increase, eventually reaching $0.0000072, attracting all the attention. BrokerChooser states in the report “[Eğer] “If you had deposited only $10 in the currency in September 2020, you would have had over $200,000 in just 12 months.”
Ranked in the top three in terms of popularity polygon searches increased by 100.456 to 90,500 and terra searches increased by 5,556% to 18,100. Polygon was also the fourth biggest gainer in terms of price, up 4,800% to $1.47. wither on the other hand, ranked fifth as it rose 2.458 percent to $111.03. Solana’s popularity has been fueled by claims that it will surpass ethereum in the world of smart contracts and the growth in play-to-earn games.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.