Last year, according to many forecasts, was supposed to be the “altcoin season”. Now some analysts point out that these expectations were not met, in 2021 the market was still ruled by bitcoin. But not everyone agrees with this opinion.
Bitcoin grew by 60% over the year, updating its historical maximum at an impressive level of $69K. However, some altcoins are up hundreds of percent or even thousands of percent.
The crypto community followed with enthusiasm the meme-coins Dogecoin (DOGE) and its “killer” Shiba Inu (SHIB). The first, thanks to the “pump” by Elon Musk, grew up by more than 7200%, from less than $0.01 to an all-time high of $0.7376 in May. But by the end of the year, DOGE had corrected to $0.173, that is, growth for the year was more than 1600%. How much the second has grown is generally difficult to say, because at the beginning of 2021 it cost almost nothing, and by the end of October, each SHIB was valued at a notable $0.00008.
Big changes have taken place in the TOP-20 cryptocurrencies. The Polygon (MATIC) sidechain built on the Proof-of-Stake consensus soared by more than 14,000% and updated its all-time high at the end of the year with a price of $2.9.
Terra (LUNA) platform for stablecoins has grown by almost 17,000% over the year. The all-time high of the token at the end of the year was more than $103.
Ethereum’s direct competitor Solana (SOL) added more than 15,000% in price. The growth could have been even greater if the SOL cryptocurrency kept the price of the all-time high (ATH) reached in November at $259.
In the shadow of these coins, other altcoins not from the first two dozen in terms of capitalization also grew rapidly. The Kadena (KDA), which improves the scalability of leading blockchains, has grown by over 10,000%. In November, the growth of KDA in relation to the beginning of the year, in general, amounted to more than 18,000%, the ATH with a price of $27.6 was renewed. KDA ranks 69th in the Coinmarketcap ranking.
Token XYO from the second hundred in terms of capitalization soared by almost 17,000%. It is a utility token for tracking supplies.
The Sandbox (SAND) Gaming Metaverse is moving up the rankings very quickly. The rising in momentum increased after Mark Zuckerberg announced in late October that it would rename his company to Meta Platforms, Inc. Obviously, the trend towards metaverses is long-term, and SAND will continue to grow rapidly. Over 2021, SAND grew by almost 17,500%. ATH was $8.4 at the market peak in November.
Ceek VR (CEEK), a decentralized virtual reality platform, showed record growth. The CEEK token has skyrocketed by 32550% over the year. At the peak of the market in November, the growth from the beginning of the year was even 65,000%. As for capitalization, CEEK is still rated somewhere in the middle of the second hundred. But fundamental factors speak in favor of this cryptocurrency, such as partnerships with leading IT companies, as well as the trend for the metaverse, in which virtual reality technology will be of use.