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2021: Year of the Cryptocurrency

This is a syndicated repost courtesy of Statista | Infographics. To view original, click here. Reposted with permission.

Dogecoin may have been grabbing the headlines over the past few weeks, but it’s not just been an astonishing year of growth for what started out as a meme – 2021 is fast turning into the year of the cryptocurrency.

As this infographic shows, when comparing the 7-day average price with CoinDesk data from the end of 2020 to the most recent period in 2021, there has so far been very strong growth in value for a number of the higher profile cryptocurrencies. There have of course been fluctuations between January and May, some quite wild, but the overall trend for these coins, and plenty of others too, has been firmly upwards.

Despite having the lowest value of all currencies featured here, those aforementioned headlines have certainly been justified by astonishing growth of 7,555 percent up to May 4. Maker, currently valued at around $6,000 compared to Dogecoin’s 55 cents, has seen a price increase of 760 percent having hovered below the $600 mark up to the end of last year.

It’s a similar story for the other currencies here, including the most valuable crypto in the world, Bitcoin. Its explosion in value in 2021 can find its roots in October 2020, therefore the growth we see in this focus on 2021 is only really the tip of the iceberg. When counting from the first 7 days of October, Bitcoin has since grown by 426 percent.

This chart shows the change in price of selected cryptocurrencies in 2021.

selected cryptocurrency price growth

Wall Street Examiner Disclosure: Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. No endorsement of such content is either expressed or implied by posting the content. All items published here are matters of information and opinion, and are neither intended as, nor should you construe it as, individual investment advice. Do your own due diligence when considering the offerings of information providers, or considering any investment.

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