Since its inception in 2009, bitcoin has dominated other cryptocurrencies. Over the years, his example has led to the emergence of numerous altcoins, whose trends, value and value were determined by the dynamics of the oldest and most famous cryptocurrency.
On May 26, 2013, there were only 15 cryptocurrencies on the CointMarketCap website. Their combined capitalization barely exceeded $ 1.5 billion.
Forbes magazine named 2013 the “Year of Bitcoin”. The cryptocurrency won the hearts of many investors that year, hit the headlines and outpaced gold in value, reaching $ 1,242 per coin.
This is what the top 10 cryptocurrencies looked like in 2013 – and where they are today.
On January 3, 2009, Satoshi Nakamoto received the first 50 bitcoins for generating a genesis block. In subsequent years, his brainchild has experienced many ups and downs and is still famous for its extreme volatility, high risk and resistance to interference from authorities and financial regulators.
In 2013, the total value of bitcoin was $ 1.477 billion, and it still remains the largest cryptocurrency with a capitalization of 662 billion.
An open source peer-to-peer cryptocurrency that allows instant payments to any country in the world. Litecoin was founded on October 7, 2011 by former Google employee Charlie Lee. Surprisingly, in just 24 hours after the start of trading, the value of the cryptocurrency doubled. In November 2013, its capitalization reached $ 1 billion. However, then another project, Ethereum, took second place on the list.
Currently, litecoin capitalization is $ 10 billion; it is in seventh position on the list of the largest cryptocurrencies.
Namecoin is another cryptocurrency based on the Proof-of-Work consensus algorithm. It is distinguished by the separate storage of data in the blockchain. Namecoin appeared on April 18, 2011 after a preliminary discussion on the Bitcointalk forum, which started in December 2010. In May 2013, the total value of Namecoin was $ 5.3 million.
The cryptocurrency is currently ranked 585th on the list with a capitalization of $ 11 million. Its third place in the ranking is now behind Tether with a capitalization of $ 24 billion.
Peercoin uses Proof-of-Work and Proof-of-Stake algorithms. In 2013, the cryptocurrency was in fourth place on the list of the largest. Peercoin was designed to be the most secure and secure digital currency. Its storage was rewarded with a reward of 1% per year, while Peercoin could also be mined using mining.
Today the fourth place in the ranking is occupied by Polkadot, and Peercoin has moved to the 591st line.
Novacoin introduced some unique block generation features supporting split target limits. The author of the cryptocurrency is a Balthazar, in 2013 its total value was $ 1.198 million. Today the project is virtually dead.
Now the fifth place in the ranking of cryptocurrencies is XRP.
Unlike Bitcoin, the Terracoin blockchain provided increased security and transaction speed back in 2012. In May 2013, the total value of the cryptocurrency was $ 0.919 million. In July of that year, it was hacked and Terracoin’s reputation was destroyed. The hackers managed to increase the hashing speed of the network and completely bring it under control.
Today Terracoin is ranked 1596 on CointMarketCap, and Cardano is the sixth largest cryptocurrency.
Devcoin was introduced in 2011. This project tried to create a close-knit community of developers, programmers, musicians, writers and filmmakers.
In 2013, its capitalization grew to $ 0.9 million along with its popularity. Then the project began to fade until it finally died. Litecoin currently ranks seventh on the list.
The Freicoin developers followed in the footsteps of Satoshi Nakamoto and created a cryptocurrency based on the Proof-of-Work algorithm. The project was distinguished by the original model of the mandatory redistribution of coins over the network.
In 2013, its capitalization was $ 0.669 million; today it occupies 1568th line with a capitalization of 427 thousand. The eighth position is now occupied by the fork of Bitcoin Cash.
Feathercoin was conceived as an improved version of Bitcoin based on Litecoin and using a similar decentralized blockchain. Four months after its launch, Feathercoin’s combined value reached $ 0.658 million.
Currently, the project is not doing very well, occupying the 852nd line with a capitalization of $ 4 million. Chainlink now takes its place on the list.
Like Feathercoin, CHNcoin is based on Litecoin. In May 2013, CHNcoin closed the list of the ten largest cryptocurrencies with a capitalization of $ 0.367 million. The project has long been dead. Today, the 10th place is occupied by the exchange token Binance Coin.