Here’s what the crypto market capitalization in 2013 looked like using data from Coinmetrics.
It should be mentioned that a parameter that is often taken into account in the crypto world is certainly that of market capitalization, the value that is obtained by multiplying the price of the individual asset with that of the supply.
In the past, and until new cryptocurrencies were introduced constantly, the only capitalization curve at the time was that of Bitcoin (BTC), with no other crypto to make a comparison and observe the trend.
As can be seen from this chart, until March 2013 the capitalization of bitcoin was constant and with a positive trend: in that period the price of BTC was just over 100 dollars and the capitalization was under one billion dollars.
Everything changed with the entry into the market of Litecoin (LTC), a crypto created by Charlie Lee. On April 1st, 2013, LTC reached more than $24 million and a rising price.
Interestingly, towards the end of the year, both BTC and LTC were following the same pattern, which was also reflected in their price: in fact, for the first time, BTC reached $1,000 and a capitalization 10 times higher than in April of that year, while LTC reached $50, which allowed it to exceed the billion-dollar capitalization threshold.
At this point, in just one year, LTC had managed to impose itself and prove to be a valid alternative to the asset that had dominated this ranking for years, although this was never enough to overcome the power and spread of bitcoin.
Looking back to the present day, LTC is at position 7 on CoinMarketCap, with a price just under $50 and a capitalization of about $3 billion.