20 Dec 2021
Crypto Surges in 2021 with an Added Market Value of $1.5 Trillion
The Index Today
The year 2021 has been prosperous for cryptocurrencies with an inflow of USD 1.5 trillion in market value.
Bitcoin’s declining dominance over the crypto market is indicative of growing investor interest in digital currencies as fueled by its major volatility. However, Bitcoin experienced an upsurge by 60% along with Ether, Binance Coin, Dogecoin, and Shiba Inu. Regardless, with the rising prominence of Ether and other tokens, Bitcoin’s market shares have fallen from 70% to below 40% this year.
The Bloomberg Galaxy Crypto Index experienced an upswing amounting to 160% this year, surpassing the progress made by conventional assets like global stocks (13%) and commodities (23%). This is yet another sign of shifting investment and financial practices in the pandemic-fueled present.