Altcoins Dominate Niche In 2021

As you altcoins know, Bitcoin has had a favorable year in 2021 but the may have dominated the field. In fact, The advent of the alt seasons this year had seen multiple altcoins rally towards recent highs even when market-mover bitcoin had remained stagnant at times. This move, coupled with the increase and adoption that rocked the crypto space this year, has proven that the altcoins dominated the industry on a large scale.

more than ever Altcoins Rule 2021

So many new things came out of the altcoin industry this year and have found achievement at the same time. Basically, the year 2021 has been one long alt season when we look at the efficiency of some of these assets.

Related Reading | The Year In Review: An Emotional Rollercoaster For Crypto Investors

Interestingly, These have brought to the forefront some interesting projects that have had their tokens rally because of it. A lot of this expansion as a matter of fact has been driven ( decentralized financebyDeFi), NFTs, and most recently, the metaverse gaining popularity among investors. Most of the time, they followed the growth of bitcoin. While, at other times these assets broke complimentary and rallied on their own accord.

Altcoins market cap at $1.32 trillion | Source: Altcoins Total Market Cap on TradingView.com

This has led to bitcoin losing a significant portion of its niche dominance to altcoins. Starting the year out at about 75% of total niche dominance, it has right away fallen to 38% where altcoins have continuously eaten into the pioneer cryptocurrency’s industry share. was, asEthereumalways, leading this charge as it took the largest chunk of the niche send.

Memecoins also year favor in the market this found. Coins like Dogecoin and Shiba Inu grew into the thousand and million percentile, as well as “ETH killers” also making a play in the field.

Mid-Caps Take The Lead

you may know, Altcoins always showed out in in modern times the indexesAswith triple-digit gains for the year. Actually, Bitcoin which had a tremendous run of it this year still recorded the lowest gains being the only index that returned double-digit gains. All other indexes, the small, mid, and large cap indexes enjoyed the majority of the gains.

Related Reading | Bullish Signal? Ethereum Market Dominance Sitting Above 20%

’, BitcoinActuallys returns for the year only came out to 73%. While this is still vastly ahead of top investment vehicles like gold, the S&P, and NASDAQ, it still performed poorly in comparison to the other indexes.

Mid Cap Index records highest returns of 2021 | Source: Arcane Research

The Large Cap Index saw the second-lowest returns with 179%, but even it saw returns over 100% higher than that of bitcoin. The Small Cap Index made a splash with returns reaching as high asthe485% for year.

Finally, the Mid Cap Index came out as the winner for 2021 marking returns of 830%. This index consists mostly of Layer 1 tokens which had seen some of the% most gains for the year, outperforming even ethereum despite its massive 485 returns for the year.

Featured image from Investment U, charts from Arcane Research and TradingView.com