After a series of articles on the capitalization of the crypto market over the years, we have now arrived at 2017, the year that set price records for most cryptocurrencies and Bitcoin (BTC), which in that period became worth more than $20,000 per BTC.
2017 was also the year of the fork that resulted in Bitcoin Cash (BCH), making it an historic year to remember.
Let’s take as reference the data coming from Coinmetrics to analyze the crypto market capitalization in 2017.
As shown in the various graphs and by following the trends of the cryptocurrencies, in January 2017 the situation remained very stable compared to the end of 2016, whereas there was an increase in prices starting at the end of March and continuing unabated until the middle of the year, where the parabolic curve of the prices of all cryptocurrencies can be clearly seen.
Those who have been in the industry for a few years either do not know or do not remember that in 2017, and precisely in mid-May, Bitcoin (BTC) actually dropped to second place, surpassed by Ripple (XRP).
The tensions in 2017 were not lacking and in early August the fork of Bitcoin took place that led to the birth of Bitcoin Cash (BCH) which placed itself, in a single night, in position 4 of the ranking by market capitalization, with a starting price of about $555.
Towards the end of October of the same year there was another bitcoin fork, Bitcoin Gold (BTG) which started at a price of $275.
In December, as is known, there was the epic event that brought many cryptocurrencies to reach their All Time High.
This was the crypto market capitalization ranking at the end of 2017:
- Bitcoin (BTC) in first place with $233 billion;
- Ripple (XRP) trails the first position with its $198 billion;
- Third place for Ethereum (ETH) with $71 billion;
- Bitcoin Cash (BCH) in fourth place with $40 billion;
- Stellar (XLM) in fifth place with $36 billion;
- Sixth place for Litecoin (LTC) with $12 billion;
- XEM defends itself well in seventh position with $9 billion;
- Eighth position for Dash with $8 billion;
- Monero (XMR) is confirmed in the top 10 with $5 billion;
- Tenth position instead for Bitcoin Gold (BTG) with 4 billion dollars.