News

Solana Still the Fastest-Growing Crypto in 2021; Market Cap Surged by 1,000 Times YTD

November 10, 2021 (Investorideas.com Newswire) Over the past month and a half, the world’s leading cryptos have grown amazingly, with most of them reaching new record valuations. Although the latest surge of the global crypto market has been fuelled mainly by Bitcoin’s and Ethereum’s price rally, as the top two digital coins in the crypto space, some other cryptocurrencies witnessed much bigger growth.

According to data presented by StockApps.com, Solana still convincingly tops the list of the fastest-growing cryptos in 2021, with its market cap surging by nearly 1,000 times year-to-date.

Solana Witnessed 170 Times Bigger Growth Rate than Ethereum

In 2021 only, the number of new coins in the crypto space practically doubled, jumping from around 4,000 in January to almost 8,000 this month. However, the vast majority of them don’t have the functionality or depth of the big coins like Solana, considered a potential long-term competitor with Ethereum. And there is a reason for that.

Transactions on Solana’s blockchain are relatively cheap compared to Ethereum because its tech allows tens of thousands of transactions per second, much more than around 100 for ETH.

According to CoinMarketCap data, the combined value of all SOL coins in the crypto space amounted to $75 million in January. By the end of June, this figure surged to $8.8bn, despite the crypto price crash in May. The following months witnessed even more impressive increase, with Solana’s market cap skyrocketing to over $60bn in the first week of September. After a few hectic weeks and another crypto price crash, Solana’s market cap continued growing again and hit around $65bn by the end of October.

Statistics show this figure rose to $73.6, showing a staggering 98,000% increase YTD, which is 170 times the growth rate of Ethereum or 748 times more than the growth of Bitcoin in this period.

Dogecoin, Binance Coin and Cardano Follow Solana in Market Cap Growth

The CoinMarketCao data showed Dogecoin follows Solana when it comes to market cap increase in 2021. Since the beginning of the year, the combined value of all DOGE coins has surged by 5,334% to $36.3bn.

2021 has also been a fantastic year for Binance Coin, which became the world’s third-largest crypto by market cap. Statistics indicate the combined value of all BNB coins soared by 1,909% YTD to $108.7bn.

Besides these two cryptos, Cardano and USD Coin were the only digital coins witnessing a four-digit growth this year. Statistics show the combined value of all ADA coins jumped by an impressive 1,311% YTD to $77.9bn, ranking it as the fourth-largest crypto globally. USD Coin follows with $34.5bn in market cap and 1,119% YTD growth.

The full story can be read here: https://stockapps.com/blog/2021/11/10/solana-still-the-fastest-growing-crypto-in-2021-market-cap-surged-nearly-1000-times-ytd/

More Info:

Investorideas.com Newswire

This news is published on the Investorideas.com Newswire – a global digital news source for investors and business leaders

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com

Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

Follow Us on StockTwits

Buy a crypto guest post on Investorideas.com

What's your reaction?

Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *

More in:News