The previous year, 2017, was a year that changed the crypto market in its core. For instance, 2017 was a year of ICOs. ICO short of “Initial Coin Offering” is a process where a cryptcurrency is released into the public for the first time where, the team behind the coin/token, makes a form of a fundraising for their future work. Many interesting concepts and coins like Cardano (ADA), which is, at the time of writing this article, is currently the fifth cryptocurrency when it comes to the size of its market cap. But more importantly, 2017 was a year where almost all crypto currencies including both “popular ones” like Bitcoin (BTC) or Ethereum (ETH) and some less known like Monero (XMR) surged drastically. For example, the price of Bitcoin has increase from roughly $1000 at the start of the year reaching up to $20,000 at one point, while in January consolidating at the price of $15,000!
Furthermore, Ethereum had a growth of roughly 10,000% whereas its price “jumped” from $10 to almost $1000. Also, another hero of the game, is Ripple’s token, XRP, where at the start of 2017, you could get almost 160 XRP coins for a price of $1 where now you would have to approximately $3.5 just for one XRP coin. In addition, the year was a period of fanatics and hysteria, giving a boost to coins’ and tokens’ price with their (un)realistic predictions… For instance, John McAfee (creator of the popular antivirus program, McAfee), made the most expensive bet…
All in all, generally speaking, the year was an interesting period and even better for cryptocurrency investors. Also, this year was good because it gave birth/popularized to many interesting concepts like Smart contracts or fee-free payment channels! In our next article we will try to give our predictions for the ongoing year.
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