Cryptocurrencies have quickly bounced back after the crypto price crash in May, with their valuations rising significantly above January levels.
According to data presented by Block Arabia, although all eyes were set on Bitcoin, Ethereum, and Tether over the last few months, as the world’s top three cryptos, other digital coins witnessed even ten to fifteen times bigger market cap growth. Here is the list of the cryptocurrencies with the most significant market cap growth since the beginning of 2021.
Dogecoin’s Market Cap Soared by 4,600% YTD, Uniswap and Binance Coin Follow with a 1,000% Jump
The CoinMarketCap data showed Dogecoin was the fastest growing digital coin in the crypto space this year. In January, the market cap of the original meme coin stood at around $0.6bn. A month later, after the Tesla CEO Elon Musk and rapper Snoop Dogg sent out a flurry of tweets about the coin, its popularity exploded, driving Dogecoin’s market cap to all-time highs.
Statistics show the combined value of all Dogecoins soared by a staggering 4,600% YTD reaching $28.2bn last week, which is fifteen times the growth rate of Ethereum or 88 times more than the growth of Bitcoin in this period.
Due to its price surge, the original meme coin ranked as the eighth-largest crypto coin by market cap and the fourth most-traded cryptocurrency in July.
Compared to the leading cryptocurrencies, Uniswap has a significantly lower price. However, the world’s tenth-largest digital coin follows Dogecoin when it comes to market cap growth. Statistics show Uniswap’s market cap surged by 1,028% YTD, rising from $1.4bn in January to $15.8bn last week.
Binance Coin witnessed the third-largest increase in the last eight months, with its market cap jumping by 992% to $59bn in this period.
Cardano and USD Coin Round the Top 5 List, Bitcoin Witnessed the Smallest YTD Growth
Statistics show that Cardano and USD Coin round the list of the top five cryptocurrencies with the biggest market cap growth this year.
In January, the combined value of all Cardano coins stood at $5.6bn. This figure jumped by an impressive 728% since then, reaching $46.4bn last week. The market cap of USD Coin, as the crypto with the fifth-largest growth YTD, soared by 626% in this period.
Ethereum‘s market cap stood at $348bn last week, a massive 310% increase YTD, ranking the world’s second-largest crypto in sixth place of this list. XRP, Tether, and Polkadot follow with 256%, 194%, and 149% YTD market cap growth, respectively.
The world’s most expensive cryptocurrency, Bitcoin, witnessed the smallest market cap growth among the top ten digital coins. Last week, the combined value of all Bitcoins stood at $539.6bn, a 51% increase since January. Also, statistics show the trading volume of the leading crypto coin almost halved in the last 30 days, falling from around $1.2trn in June to $642.7bn in July.