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Looking back at the top cryptocurrency markets from past Christmas holidays

Alan Muli

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Cryptocurrency has grown dramatically in just a few years, with the number of crypto markets increasing from 59 in 2013 to over 2,000 today. Digital currency has been taking the financial sector by storm and Christmas holidays in the recent past also witnessed significant turnover in cryptocurrency.

10-fold increase in crypto-markets

While many point to 2017 as the year in which the cryptocurrency saw the most dramatic growth, 2014 saw the number of virtual currencies increase by nearly 1,000 percent. As of December 28th, 2014 there were 506 active markets, up from just 59 on Dec 22, 2013.

Despite the impressive growth in the number of active markets, the price performance of many of the leading cryptocurrencies was extremely bearish, with six of the top 10 cyryptocurrencies losing more than 80% in one year. Between December 22, 2013 and December 28, 2014 Bitcoin lost nearly 50%, falling from $619 to $316.

Five of the top 10 virtual currencies in 2013 retained their top 10 ranking the following year. Eight of the dominant markets from Christmas 2014 held their top 10 ranking in 2015. The number of active markets increased 11% from 506 to 562. PPC was the only top market in 2015 that posted a loss one year later, dropping from 7th to 38th position in market cap ranking after recording a 43% loss.

Six of the leading markets from late 2015 maintained their position in the top 10 as of Christmas 2016. The number of active markets increased by 15% from 562 to 644. In 2017 the cryptocurrency community received a bountiful Christmas. 9 of the top 10 markets posted four-figure or five-figure gains between December 25th , 2016 and December 24th, 2017. The number of active markets increased by roughly 100% from 644 to 1,334 at the end of 2017.

Despite all markets posting heavy losses for 2018, six crytocurrencies have retained their position among the top ten. Three of cryptoplatforms have consistently held their leading positions since 2013. The number of active markets has increased from 1,334 to 2,067 over the last 12 months.

It is expected that cryptocurrencies will continue to take the financial sector by storm in the coming years.

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