After a rough start in the second quarter of the year, caused by the crypto price crash and regulatory concerns in China, the global crypto market recovered significantly over the last two months. The world’s leading crypto coins quickly bounced back and continued growing rapidly, with some of them even reaching record valuations.
According to data presented by Mejores Apuestas, Solana, Dogecoin and Cardano were the fastest-growing cryptos this year, all witnessing a four-digit market cap increase.
Solana’s Market Cap Soared by 8,616%, Dogecoin and Cardano Follow with a 4,351% and 1,499% Jump
After the crypto price crash, all eyes were set on Bitcoin, Ethereum, and Tether as the world’s leading digital coins. Although all three cryptos have significantly recovered since then, raising their valuations high above January levels, other digital currencies have witnessed even ten to fifteen times bigger market cap increases.
The CoinMarketCap data showed Solana was the fastest growing digital coin in the crypto space this year. Between January and September, the market cap of the cryptocurrency soared by a staggering 8,616% and hit $52.3bn this week, which is nineteen times the growth rate of Ethereum or 106 times more than the growth of Bitcoin in this period. In the last month only, the price of the Ethereum competitor surged by a massive 377%, ranking it as the seventh-largest crypto coin by market cap.
Dogecoin follows Solana when it comes to market cap increase in 2021. Since the beginning of the year, the combined value of all Dogecoins surged by 4,351% and hit over $40bn.
Cardano ranked third with $90bn in market cap and a 1,499% growth in this period. Moreover, statistics show Cardano was the seventh most-traded crypto in August, with a monthly trading volume of $166.4bn.
Besides these three cryptos, Binance Coin was the only digital coin witnessing a four-digit growth this year. Statistics show the combined value of all Binance Coins jumped by an impressive 1,406% YTD to $83.6bn, ranking it as the fourth-largest crypto globally.
Ethereum’s Market Cap Jumped by 452% in Nine Months of 2021, Bitcoin Up by 81%
The CoinMarketCap data show that USD Coin rounds the list of the top five cryptocurrencies with the biggest market cap growth this year. In January, the combined value of all USD coins stood at $3.8bn. This figure jumped by an impressive 631% since then, reaching $27.8bn this week.
XRP’s market cap hit $63.9bn, a massive 502% increase YTD, ranking the digital coin in sixth place on this list. Ethereum, Polkadot, and Tether follow with a 452%, 334%, and 219% market cap growth, respectively.
The world’s most expensive cryptocurrency, Bitcoin, witnessed the smallest market cap growth among the top ten digital coins. On September 7th, the combined value of all Bitcoins hit $988.4bn, an 81% increase since the beginning of the year. However, statistics show the world’s leading crypto coin has seen a 47% jump in monthly trading volume, rising from $642.7bn in July to $946.5bn in August.
