Cryptocurrency Market Cap in 2018: An Insight into the Digital Currency Landscape

Introduction

The year 2018 was a pivotal year for the cryptocurrency market, with the market cap experiencing significant fluctuations. This article will provide an overview of the cryptocurrency market cap in 2018, discussing the major events that shaped the market, top cryptocurrencies by market capitalization, and the future outlook.

What is Cryptocurrency Market Cap?

Before delving into the 2018 cryptocurrency market cap, it's essential to understand what market cap means. Cryptocurrency market capitalization refers to the total value of a cryptocurrency, calculated by multiplying the number of coins or tokens in existence by their current price. It provides a measure of the size and liquidity of a cryptocurrency.

2018 Cryptocurrency Market Overview

In 2018, the cryptocurrency market experienced significant growth, with the total market cap reaching new highs. However, this growth was not without challenges. The market experienced several bear phases throughout the year, with prices dropping significantly at times. Despite these fluctuations, the overall trend remained positive, with many cryptocurrencies experiencing significant gains.

Major Events in 2018

Several major events occurred in 2018 that shaped the cryptocurrency market and its market cap. These included:

1. Cryptocurrency Exchanges Hacking: Several major cryptocurrency exchanges were hacked in 2018, resulting in significant losses and affecting the market cap.

2. Bitcoin Cash Hard Fork: The Bitcoin Cash hard fork resulted in two separate cryptocurrencies, leading to market uncertainty and volatility.

3. Regulatory Scrutiny: Regulatory authorities around the world began to scrutinize the cryptocurrency market, which caused some investors to lose confidence and affected the market cap.

Top Cryptocurrencies by Market Cap in 2018

In 2018, Bitcoin continued to dominate the cryptocurrency market, with its market cap accounting for a significant proportion of the total market cap. However, other cryptocurrencies such as Ethereum, Ripple, and Bitcoin Cash also made significant gains in terms of market capitalization.

Future Outlook

Looking ahead to the future, the cryptocurrency market is expected to continue growing and evolving. With new technologies such as blockchain and smart contracts becoming more widespread, there will be more use cases for cryptocurrencies. Additionally, as regulatory authorities begin to provide clarity on their stance on cryptocurrencies, investors may gain more confidence in the market, leading to further growth in market capitalization.

Conclusion

Overall, 2018 was a year of significant growth for the cryptocurrency market, despite the challenges faced. The market cap experienced significant fluctuations but managed to reach new highs. With the evolution of technology and regulatory clarity on the horizon, the future looks promising for the cryptocurrency market.