The cryptocurrency market has experienced exponential growth over the past few years, reaching a staggering $3 trillion valuation in 2021. Despite this, Bitcoin (BTC) remains the undisputed leader in market capitalization, user base, and popularity. Established in 2009, Bitcoin continues to dominate, with Ethereum (ETH) — the smart contract pioneer launched in 2015 — securing the second spot. Both cryptocurrencies achieved record highs in 2021: BTC at $69,000 and ETH at $4,880.
Interestingly, stablecoins like Tether (USDT) and USD Coin (USDC) claimed the third and fifth positions, respectively, in the top five rankings. Sandwiched between them was Binance Coin (BNB), the native token of the world’s largest crypto exchange, Binance. Removing stablecoins from the equation would place XRP and Cardano (ADA) in fourth and fifth.
However, today’s crypto rankings look vastly different from those during the 2017 bull run. While Bitcoin and Ethereum retained their dominance, former top contenders like Bitcoin Cash (BCH), Ripple (XRP), and Litecoin (LTC) have significantly declined in prominence.
The Leaders of the Last Bull Run
Bitcoin Cash (BCH)
Bitcoin Cash emerged in August 2017 as a fork of the Bitcoin blockchain, aiming to address scalability issues. It diverged from Bitcoin’s original vision, leading to a split in the community. Key features:
- 1:1 Distribution: BTC holders received an equal amount of BCH.
- Supply Cap: 21 million coins, with halving events every four years (next halving: 2024).
- Higher TPS: Supports 25,000 transactions per block.
Despite its initial hype, BCH has plummeted to 42nd in market cap ($2.33B), down from $42B in 2017.
👉 Explore Bitcoin Cash's journey
Litecoin (LTC)
Launched in 2011 as a "lighter" version of Bitcoin, LTC offers faster transactions and lower fees. Notable milestones:
- Halving Events: Rewards reduce by half every four years (next halving: 2023).
- ATH: $410 in May 2021, but currently trades 87% below its 2017 peak.
Ranked 23rd ($3.8B market cap), LTC struggles to regain its former glory.
Ripple (XRP)
XRP, the native token of the XRP Ledger, facilitates fast, low-cost payments. However, legal battles with the SEC have hampered its growth:
- SEC Lawsuit: Allegations of unregistered securities sales in 2020.
- Current Status: Ranked 6th ($6B market cap), down from $89B in 2017.
Where Are They Today?
While Bitcoin and Ethereum soared, BCH, XRP, and LTC faltered:
- BCH: Down 97% from its ATH ($3,785 in 2017).
- XRP: Down 87% from its peak ($3.40 in 2018).
- LTC: Despite a 2021 rally, it remains 54% below its 2017 high.
These assets face steep competition from emerging projects, making a return to their heyday unlikely without groundbreaking innovations.
FAQs
1. Why did Bitcoin Cash fork from Bitcoin?
BCH was created to increase block size and improve transaction speed, diverging from Bitcoin’s scaling approach.
2. Is Litecoin still a good investment?
While LTC has niche use cases, its growth potential lags behind newer, high-utility tokens.
3. What’s the future of XRP?
XRP’s fate hinges on its SEC case outcome. A favorable ruling could revive its adoption.
👉 Discover more about crypto trends
Disclaimer: This article is for informational purposes only and does not constitute financial advice.