Market review in 2020: which cryptocurrency gains outperform bitcoin?

Disclaimer: This article is intended to convey more market information and does not constitute any investment advice. The article only represents the author’s point of view, not the official position of Mars finance and economics. Editor: remember to pay attention Oh source: bitpushnews original title: review of the encryption market in 2020: looking at the world’s situation, the unique scenery here, author Mary Liu is coming to the end of 2020, which is bound to be a year that people all over the world can’t forget. At the beginning of the year, the outbreak of the new crown epidemic broke out, and rapidly ravaged the world. The first domino fell, followed by a series of chain effects emerged: the great blockade, economic shutdown, global supply chain rupture, the impact of traditional capital market If the year 2020 makes countless people feel disappointed or even desperate, then a man named Nakamoto Cong opened a door of hope to break through the old paradigm – bitcoin more than a decade ago. The lucky ones entering this door still feel warm in the howling capital market this year. Bitui will take you back to the encryption market in 2020. (Note: data in this paper as of December 21, 2020) top ten cryptocurrencies in market value 1. Bitcoin (BTC), as the cryptocurrency with the highest market value, will increase by more than 220% in 2020. From more than 7000 US dollars at the beginning of the year, we adjusted to the end of July, and finally stood at US $10000. In the second half of the year, bitcoin began to make efforts. In 2020, its tail gave investors the largest surprise, breaking through $20000, ushering in a record high. And it’s going up a lot, to $25000. BTC price trend chart in 2020, photo source: bitcoin price rose to the $10000 mark in early February. Around March, affected by the deterioration of the new coronavirus, crude oil and U.S. stocks plummeted. Global investors’ expectations of the economy and the market have reached a very pessimistic level, and the encryption market has also been affected. From March 12 to 13, bitcoin fell precipitously, falling below the $7000, 6000 and 5000 levels one after another. Market confidence collapsed, and the argument that bitcoin is a “safe haven asset” has been questioned again. After the crash, with the introduction of loose monetary policies in various countries and people’s optimism about halving, bitcoin gradually returned to its blood. On May 8, the price of bitcoin broke through $10000, the highest since February 24, 2020. However, by May 10, the price of bitcoin fell sharply again, once falling to $8200. On May 12, Beijing time, bitcoin was halved for the third time. The 630000 blocks were excavated, and the block reward was halved from 12.5 to 6.25. However, the market did not usher in the surge as expected. In the following month, bitcoin prices were tepid and could not break through $10000. Photo source: skew July 26, bitcoin briefly stretched to more than $10000. On August 11, MicroStrategy (NASDAQ: mstr), the world’s largest business consulting service, announced that it had purchased 21454 bitcoins for us $250 million and made bitcoin its main reserve asset. In the subsequent period, bitcoin prices officially stabilized at more than $10000. In the fourth quarter, bitcoin’s performance was brilliant. PayPal, a payment giant, announced the launch of an encrypted trading service on October 21, us time. On November 4, bitcoin broke through $14000, reaching a maximum of $14040.01, a new high since January 2018. On November 12 and November 17, prices exceeded $16000 and $17000 respectively. On November 24, bitcoin prices broke through the $19000 mark for the first time since 2017. On December 16, bitcoin prices rose sharply, breaking through $20000 at one stroke and continuing to reach new highs. At the time of publication, bitcoin was floating above $24000. This year has been a fruitful year for bitcoin investors. More and more traditional financial institutions have joined the “Zhenxiang” scene of Wall Street giants. In addition to the simple “profit seeking” factor, bitcoin’s impact on the world’s decentralized and borderless payment is bound to become more and more profound. 2、 Ethereum (ETH), which ranks second in market value, has risen nearly 400% since 2020, surpassing bitcoin. At the time of writing, ETH prices are around $650, still below their all-time high of $1500 in 2018. Price trend of eth in 2020, source: comparison Comparison of the growth of Ethereum vs bitcoin in 2020, photo source: coincodex, affected by the liquidity mining and defi boom, started to focus its efforts after late July. On July 26, Ethereum broke through $300 after rising for seven consecutive days; less than a month later, it broke through $400 strongly, and even went up to $500, a new high since 2018; then Ethereum ushered in a price correction for more than two months, with a slight fluctuation between $350 and $400. On November 5, the Ethereum 2.0 development team announced that Ethereum 2.0 phase 0 will be launched on December 1, which represents an important step in the upgrading of Ethereum. The good news stimulated market confidence, Ethereum price once again exceeded $400. On November 20, the address balance of Ethereum 2.0 deposit contract reached 22.89% of the minimum requirement for launching Ethereum 2.0 Genesis block. Grayscale Ethereum trust (greyscale Ethereum trust) has become the first eth investment product publicly quoted in the United States and the second digital currency investment product reported to sec after bitcoin trust. This paves the way for institutions or retail investors to invest in Ethereum in the form of “reasonable compliance”. The Ethereum market is booming, and the price has risen to the key resistance level of $500, the highest level in two and a half years. Four days later, with the progress bar of Ethereum 2.0 deposit contract address balance approaching 80%, Ethereum broke through $600. At the beginning of December, Ethereum continued to consolidate between $550 and $600. Stimulated by the official launch of the beacon chain, Ethereum briefly went up $600 and then fell back rapidly. On December 16, with bitcoin breaking through its all-time high, Ethereum prices soared to more than $600. As the top two cryptocurrencies with the highest market value, in 2020, the price trend of bitcoin and Ethereum is very similar. One is stable and mature, the other is strong ecosystem. We hope to see more extensive adoption of both sides in the future. 3、 XRP XRP price trend chart in 2020, photo source: XRP, the third largest in market value, has increased by more than 190% this year. XRP’s performance in the first 11 months was flat, with prices floating around $0.3, mostly below $0.3, and trading activity was much lower than other currencies. However, on November 21, the Swiss dollar rose in a straight line, rising 40% in a single day, and then reached an annual high of $0.66 on November 24, and the trading volume also increased significantly. One of the reasons for this rally may be due to its partner flare network’s spark token airdrop program. Under the scheme, XRP holders are entitled to receive spark tokens at a ratio of 1:1. As a result, 45 billion of the $100 billion spark token will be airdropped to XRP holders. With the good airdrop, the heat subsided, XRP prices began to fall from the beginning of December. On December 16, XRP also rose from $0.45 to more than $0.5 due to the impact of pancake breaking a new high, and the current price is about $0.57. 4、 Tether (usdt) Usdt price trend chart in 2020, photo source: compared with usdt launched in 2015, issued by tether company, 1 usdt is anchored at $1. It is the largest stable currency based on market value and trading volume. At present, the market value of usdt has exceeded US $20 billion, more than five times that of US $4.2 billion at the beginning of 2020. Usdt was initially launched through Omni protocol of bitcoin, and has been released on Ethereum, EOS, Tron, algorand, liquid network and other projects. Tether’s transparency has been questioned in the cryptocurrency community, which also opens the door to alternative stable currencies such as usdc, Paxos standard token, true USD and Dai. Despite the controversy, these competitors have so far failed to pose a real challenge to tether. Especially this year, the uncertainty of global financial markets and the strong demand of emerging markets and derivatives markets in the world have led to the fact that usdt is still the largest stable currency so far in terms of market value and trading volume. 5、 LTC The price trend chart of letcoin in 2020, photo source: the current price of letcoin is about 117 US dollars, with an increase of about 178% in 2020. Its all-time high price was $373.02 in December 2017. LTC has a market value of nearly $7.6 billion, ranking fifth, surpassing BCH (US $6.480 billion) and link (US $5.289 billion). Letcoin is a point-to-point digital cryptocurrency founded by Li Qiwei based on bitcoin in 2011, with a total supply of 84 million. LTC and bitcoin have many common attributes, but they can achieve faster transactions. Bitcoin is compared to gold by coin circle people, while Wright coin stands for silver. The only halving in history occurred in 2019, when LTC awards fell from 25 LTC per block to 12.5 LTC per block. There was a make-up market at the end of this year. In addition, LTC is one of the encryption currencies currently supported by PayPal, which makes it easier for retail investors to invest and is also a driving force for the rise of LTC. 6、 Bitcoin cash (BCH) BCH price trend chart in 2020, photo source: BCH has increased by 61.86% since the beginning of the year. The current price is about 340 US dollars and the market value is about 6.4 billion US dollars. BCH’s all-time high price was $4358.92 on December 20, 2017. Due to the dispute over the scalability of bitcoin community compared with the bitcoin network, a community camp created BCH through the hard fork of bitcoin blockchain in August 2017. After that, BCH made a hard bifurcation every six months. The split in November of 18 became a waterfall of market decline. But this year’s bifurcation did not have a big impact on the BCH currency price. The year-end rise may be driven by the overall market situation. 7、 Chainlink (link) Link price trend chart in 2020, photo source: Bitui link has entered the list of the top ten encryption market value for the first time this year, and it is also the currency with the highest annual increase among the top ten cryptocurrencies. Link is up nearly 600% year-on-year, with a market value of nearly $5.2 billion. Chainlink is the first batch of decentralized Oracle projects. It is a distributed Oracle network, which aims to provide solutions to the “Oracle problem” faced by blockchain platforms based on smart contracts (such as Ethereum). When the predetermined conditions are met, the smart contract can execute code in a decentralized and untrusted manner. The project was ICO launched in 2017, raising US $32 million, and its main network was launched in June 2019. The link token runs on Ethereum through the erc-677 standard. This year’s upsurge in chainlink is closely related to the upsurge of defi. Decentralized Oracle has many use cases in smart contract to capture loan interest rate, token price, random number, exchange rate and so on. Through cooperation with many difi projects, link soared to a record high of $8 in July this year, and soared to $18.6 on August 18, becoming a “dark horse” in cryptocurrency in 2020. As the fever of defi gradually recedes, link price falls back to the range of $10 to $12 after September, and the current price is around $13. 8、 Cardano (ADA) The price trend of ADA in 2020, photo source: the price of ADA has increased by nearly 385% since the beginning of the year, and the current market value is more than $5.1 billion. Cardano is based on the proof of interest consensus mechanism to create a platform with advanced functionality and scalability for smart contracts and decentralized applications. ADA is the local token of Cardano blockchain, with a maximum supply of 45 billion. Iohk, Cardano foundation and emurgo are the main organizations in its ecosystem. This year’s rising momentum may come from the significant progress of the project. In early June, Cardano released the Shelley roadmap, which pushed ADA prices up nearly 50%. At the beginning of July, the team announced the deployment of Shelley, the new main network code. ADA became the eighth largest cryptocurrency by market value, replacing the previous BNB. The development team iohk also announced Shelley’s next phase Goguen in November, which also led to the further rise of ADA. As of December 21, the price of ADA token was about $0.16. 9、 Coin ancoin (BNB) BNB price trend chart in 2020, photo source: BNB has increased by about 157% year-on-year, and its current market value is about 5.1 billion US dollars. BNB is the platform currency of the currency security exchange and the “leader” in the platform currency. Its market value is more than four times that of the second platform currency okb. BNB’s strength this year is mainly concentrated after September. Good news such as the main Internet line of coin safety intelligent chain, coin an mining pool, and coin an mining have been frequent. There are several DFI projects on the coin safety intelligent chain. The first project “Hamburg” soared 300 times overnight after it was listed. In addition, the impact of the bull market in the whole market at the end of the year, BNB’s price trend has shown an upward trend. The current price is $35.35, very close to its record high of $39.45 in 2019. 10、 Polkadot (DOT) Dot price trend in 2020, photo source: coincodex Polkadot: dot, up about 45% year-on-year, with a market value of about $4.7 billion. Boca is a blockchain platform. Through parallel chain and unique cross chain mechanism, Boca can connect different types of blockchains (whether licensed or unlicensed) to achieve interoperability and scalability. At present, Boca has developed hundreds of projects ecologically, including chainx, polkaswap, ACALA, etc. On September 1, dot reached an all-time high of $6.86, and Boca’s market value surpassed chainlink to become the fifth largest cryptocurrency. Subsequently, the dot market heat weakened, and the price dropped sharply to about $4. In November, Boca announced that it would officially launch a parallel chain slot auction in the next few months, driving its price back to around $5. Among the top 50 cryptocurrencies in 2020, 14 cryptocurrencies outperform bitcoin in terms of market value. Among them, two popular difi tokens, yfi and SNx, are on the list this year. Yfi ranked third with an increase of 1624%. Other tokens are KSM, cel, theta, ZIL, xem, waves, link, OMG, ETH, ADA, XLM, XmR. Among them, link, Eth and ADA, which are the top ten in market value, have been analyzed above and will not be repeated later. Top 50 cryptocurrencies with an increase over bitcoin in market value: coincodex 1, DFI token 1, yfi: 1668.62% Yfi (year. Finance), the governance token of defi revenue aggregator year. Finance, allows users to automatically optimize the revenue they get in various defi protocols. Yfi is known as the “king of currency” in 2020, and its price exceeded that of bitcoin more than a month ago, breaking through 43000 US dollars at one time. Its founder, Andre cronje (AC), became famous in the first World War. AC created 30000 yfi tokens to transfer control of the project from developers to the user community. Users can get a certain amount of yfi by depositing tokens in the revenue pool designated by year. The circulation of yfi is halved every certain period. At the end of July, 30000 yfis were issued. 2、 SNX:527.00% SNx (synthetix network), formerly known as havven, a stable currency project. After the change of name, SNx token is mainly used as mortgage token to support various synthetic assets, including legal tender, precious metal or other cryptocurrency. Users don’t really need to own these assets, they just need to track the prices of the assets, which are traded on synthetix. Exchange. 2、 Other tokens 1, KSM: 4339.44% Kusama is an experimental blockchain platform of Boca. Built using the substrate framework, which allows users to deploy specialized blockchains, users can test their projects before adding them to Boca, known as Boca’s “canary.”. 2、CEL:1896.03% Cel is the token of the decentralized lending network Celsius network, which enables users to earn cryptocurrency interest and borrow quickly without any cost. 3、THETA:953.73% Theta, formerly sliver.tv, is a VR E-sports entertainment live broadcasting platform established in 2015. After financing in June 2017, theta launched the decentralized video transmission network theta project, which is based on blockchain and uses cryptocurrency to reward various network participants. Theta token is used to power the, and the network works like youtube and twitter. 4、ZIL:950.24% ZIL is the ecological token of zilliqa public chain project. Zilliqa is a high-throughput public blockchain platform designed to expand and combine with fragmentation technology, which allows users to develop smart contracts and dapps directly on their platform. Zilliqa project uses a novel consensus protocol, which increases the transaction rate with the expansion of the network. As more and more mining nodes join the network, the number of transactions processed per second is also more. 5、XEM:800.64% Xem is the platform token of NEM. It is written in Java and provides an adaptive API interface that can be used with any programming language. NEM is designed for businesses to provide a simplified way to maintain a secure transaction ledger. It is called the first “smart asset blockchain”. 6、WAVES:615.89% Waves is a blockchain platform launched by Russian physicist Sasha Ivanov in 2016. The purpose of the platform is to facilitate the trading of various digital assets and real-world goods. With waves tokens, anyone can create their own custom tokens and trade them on the waves platform. 7、OMG:412.28% OMG is the network token of OMG network (formerly omisego). OMG network is the second layer expansion scheme of Ethereum, which aims to make financial inclusiveness and interoperability possible. In early December, genesis block ventures (GBV) announced its acquisition of OMG. 8、XLM:284.34% XLM is the native token of stellar blockchain. XLM can be used for point-to-point transactions. In stellar blockchain, as a defense mechanism against spam invalid transactions, XLM is also designed to be used as a transitional currency to facilitate cross-border transfer between different currencies. 9、XMR:224.79% XmR (Monroe coin) is a kind of private currency, focusing on privacy, decentralization and scalability. The project is completely open source, based on POW mechanism, maintained by volunteers. The strong privacy technology of Monroe coin, such as ring signature and invisible address, can cover up the transaction party and specific amount in any given Monroe coin transaction. Photo source: Bitui, coincodex

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