Where did the first cryptocurrencies on the market go?

Where did the first cryptocurrencies on the market go?

By Simplify Crypto | Simplify Crypto | 24 Sep 2020


The year was 2013 and Bitcoin was priced at $ 134.21 dollars.

At that time there was no flood of cryptocurrencies, there were no Tokens, stablecoins, DeFi protocols, and the global capitalization value of the cryptocurrency market was just over US $ 1.5 billion.

Bitcoin largely dominated the cryptocurrency market being seen from afar by Litecoin.

Following the CoinMarketCap listing, on April 28, 2013 (first historical market data) there were 5 more cryptocurrencies in the market capitalization ranking, and you probably never heard of them.

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In order of market capitalization are Peercoin, Namecoin, Terracoin, Devcoin and Novacoin, which together did not spend the $ 20 million dollars of global capital.

Since then things have changed and so much! Thousands of cryptocurrencies have appeared, and many more have died. Only the media have killed Bitcoin hundreds of times!

There was a ban, there were people arrested, there were people who proclaimed themselves Satoshi Nakamoto, there was a bull run, there was ICO, there was market depression, there was Hype, the term FOMO never made so much sense, and there were a lot more things that would fit in an encyclopedia. .

Something that changed, and quite a lot, was the ranking of the Top 10 major currencies in market valuation, and few that constituted this group managed to remain there.

Since the most remote date we know, in late April 2013, the leader Bitcoin has remained untouchable.

On the other hand, Litecoin, which occupied the second position at the time, saw new cryptocurrencies and Tokens appear, but did not care about that, and remained among the top five for several years.

With the expansion of cryptocurrency utility, Litecoin lost space to the non-mining XRP, to the Tokere creator Ethereum, to the stablecoin Tether, and to the Fork of Bitcoin (BitcoinCash).

And most recently it reached its lowest ranking ranking, tenth, behind newer protocols such as Link, Polkadot, Binance Coin, and Crypto.com.

But if Bitcoin is easy with its dominance of more than 54% of the current market, and Litecoin is saying goodbye to the top 10 in the market (and I believe it won't come back), the other 5 cryptocurrencies that made up the list are bitter I miss my childhood.

Shitcoins


Currently, Peercoin occupies the 592 position of the ranking. But if it is any consolation, today it is quoted at US $ 0.38 dollars, which is not so “far” from today's US $ 0.23.

Namecoin has worse stories to tell. Down by more than 50% of its 2013 value, cryptocurrency now occupies the boring 634 place in the Ranking.

It seems that the abyss has no end, leaving fifth place to rank 1014 of the Ranking should not have made the developers of the Terracoin project happy. The drop was more than 90% in value and practically buried the currency! What a funny joke!

In the direction of bland anecdotes, Devcoin “dev” has suffered a lot! Less than 1 year after setting the sixth place in the CoinMarketCap ranking, the cryptocurrency died, and now “dev” is in heaven.

Finally, Novacoin appears, and again the fall was great. At the time, Novacoin struggled with Litecoin to be the second most expensive cryptocurrency on the market.

However, with 96% devalued today, the protocol occupies only the 1360 position in the market capitalization ranking.

This historical survey only expresses what we are experiencing today, as there is a flood of protocols that have not evolved and that have practically no use.

Furthermore, the world of cryptocurrencies has evolved a lot and new protocols with different uses have shaken the ranking of cryptocurrencies.

Whether these cryptocurrencies will last in their posts or not will depend on a range of factors, and it is up to investors to study these projects and protocols in order not to see their money wane like the more than 1,600 cryptocurrencies that have already received their death certificate.

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Simplify Crypto
Simplify Crypto

Trying to help people to understand the crypto world from the basic concepts to the crypto projects purpose. My articles are publish in Publish0x and Hive

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