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How top 15 cryptocurrency prices changed for long-term investors in 2021 – The Financial Express


The Financial Express

Top 15 Cryptocurrency Prices in 2021: Almost all top crypto assets brought big returns to investors in 2021. Despite extreme volatility in crypto markets throughout the year, long term investors (hodlers) have made significant gains this year.
Bitcoin, which is also often referred to as the digital equivalent of gold, continued to remain the top crypto asset by market capitalisation. Even as there were several occasions during the year, when Bitcoin price witnessed sharp falls, it looks set to end the year on a high as compared to its price at the start of the year.
According to data available at the time of writing this report on CoinmarketCap, the price of Bitcoin on 1st January 2021 was $29,131. Its price today is $49,104. This shows an investor’s wealth would have grown by 68.56% if s/he had remained invested in Bitcoin since the start of the year.
Prices of several other coins jumped astronomically, literally.
The price of Binance Coin, which is listed as the third-largest crypto asset on CoinmarketCap, increased 1292% from just $38 on 1st of January 2021 to $543 on 16th December 2021.
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During the same period, the price of the Indian crypto-asset Polygon (MATIC) jumped 13263.3% from $0.01781 to $2.38.
The price of Avalanche coin (AVAX), which is ranked 10th on CoinmarketCap, jumped 2825% from $3.66 to $107 from 1st of January 2021 to 16th December 2021. (See below chart for other top 15 coins)
Several Indian exchanges also reported a massive jump in trading volumes this year. Leading crypto exchange WazirX reported a record trading volume of over $43 Billion in 2021, a 1735% growth from 2020. The exchange also clocked a significant surge in user signups and crossed a user base of 10 Million.
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Bitcoin (BTC), Tether (USDT), Shiba Inu (SHIB), Dogecoin (DOGE), WazirX Token (WRX), and Matic (MATIC) were the most-traded crypto on the WazirX exchange this year.
True that prices of several crypto assets witnessed massive jumps in 2021. But the trend may not remain the same next year. Experts are of the view that prices may stabilise next year with increasing maturity in crypto markets.
Meanwhile, the Government of India is also planning to soon introduce a Bill to regulate crypto assets and exchanges operating in the country. It is expected that crypto laws would help remove several uncertainties for investors.
(Cryptocurrencies are unregularised assets in India. Investing in them could be risky. Please consult your financial advisor before investing in cryptocurrencies.)
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He is currently Editor at Inferse.com. He is a political columnist for the Finger Lakes Times, Eiram.org, and is the co-founder of InFocus.co. His passions include politics, golf, the media, and gadgets.