With the month of September just started, it is interesting to analyze the evolution of Bitcoin, Ethereum, Dogecoin: this is how its price has changed in the last year. The cryptocurrency boom is no longer perceived as a passing fad and is part of the current financial landscape, so it is worth taking a look at the evolution of the main alternatives in the last 12 months.
Bitcoin is undoubtedly the most popular cryptocurrency and used in the world, and its investors have gone from seeing how it was valued at 8,770.90 euros in September 2020 to the current 39,000 euros. Its price shot up at the end of last year, even reaching a historical maximum of 53,166.70 euros last April, but that price has been adjusted until it reaches the current figure.
As can be seen in the graph, stability is not a trait that characterizes the bitcoin, whose price depends on the confidence of a large majority of retail investors. The actuality marks a lot the pattern of its quotation. Without going any further, in January, when the assault on the Capitol took place after Donald Trump lost the US elections, its price soared, while in May, the announcement that Elon Musk would not accept bitcoin as a means of payment and China’s restrictions on cryptocurrencies caused it to go down.
Ethereum It is the second most popular cryptocurrency, but it has one main difference with respect to Bitcoin, and that is that in this case there is no limit on the amount that can be issued. Its price has gone from 311.88 euros in September 2020 to close to 3,000 euros, an increase based on decentralized finance and the success of the incipient NFT market.
The most optimistic forecasts came to point to a possible sorpasso from Ethereum to Bitcoin as the dominant cryptocurrency, but for now it is a horizon that seems complicated. Its evolution has also had many ups and downs, an inseparable characteristic of any cryptocurrency.
Cardano is currently experiencing a golden moment, having increased its price in the last year from 0.08 euros in September 2020 to 2.20 euros today. Its main competitive advantage over other cryptocurrencies is its lower environmental impact, which makes it perceived as a more environmentally friendly option. At the moment, buyers are undeniably placing their trust in the cryptocurrency created by Charles Hoskinson.
With a current price of 1.12 euros per XRP, the Ripple cryptocurrency has also experienced a notable increase in its price, starting from the 0.24 euros that an XRP cost in September of last year. This cryptocurrency, unlike the rest, is centralized, which makes many specialists consider it a traditional currency.
Closely watched by the Securities and Exchange Commission (SEC), it experienced its moment of splendor in April, when the courts allowed Ripple to access SEC documents in a case involving accuses the company of having sold unregistered securities for $ 1.3 billion. The Signing of a former U.S. Treasurer to your Board of Directors It also seems to have contributed to its current good image.
Dogecoin is the cryptocurrency meme. Created in 2013, its value was residual at this point last year, but its popularity on Reddit caused its price to skyrocket above 7,800% between the months of April and May. Located around 20 euro cents, this cryptocurrency is one of the most volatile, as its main group of investors are beginning retailers.
Mark Cuban, one of America’s greatest fortunes, took a photo in Ellen of Dogecoin’s place in the world of cryptocurrencies: “Bitcoin is like a digital version of gold, Ethereum is a digital version of a currency, and then you have Dogecoin, which is just fun.”
In 2017, Bitcoin Cash became independent from Bitcoin with the aim of being a faster and more efficient means of payment than the latter. In the last year, Bitcoin Cash has increased in value by 196%, reaching the current 565 euros. Its success is based on a payment method that offers fewer complications to those who bet on it, despite having less media focus than Bitcoin or Ethereum.
Solarium is currently positioning itself as Ethereum’s great competitor having also entered the NFT market. Although traditional analysts warn of the risk that this market is overvalued, Solana has become an alternative that solves many of the problems that Ethereum presents as cryptocurrencies, increasing its price by 5,726.53% in the last 12 months, bordering on the barrier of the 200 euros.
Stellar’s growth in the last year has been 325%, from seven euro cents to the current 29. The announcement that the Ukrainian government had opted for Stellar As its partner in the development of a national cryptocurrency, it notably helped its boom, although it has also been dragged down by news that has negatively affected the rest of cryptocurrencies, such as Elon Musk’s ban on the use of Bitcoin as a means of payment in Tesla.
Finally, Binance Coin has seen a scandalous increase in its price of 1,602.73%, currently exceeding 350 euros. Its network was created as a copy of Ethereum, but it operates faster and manages to stabilize its value over time. This cryptocurrency is, without a doubt, one of the most successful cryptocurrencies in the last year.
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