For most of the history of blockchain-based currencies and assets, the story has been all about Bitcoin. At a market capitalization of around $40 billion, it remains the most valuable cryptocurrency.
But with the rise of a new ‘chain on the — ahem — block, namely Ethereum, and new ways to fund the development of new crypto-platforms with ICOs, the narrative is shifting somewhat to the entire cryptographic asset class.
Today, let’s take a more in-depth look at some of the historical trends in the digital currency space, paying close attention to Ethereum and its role as the platform of choice for new cryptographic assets.
The number of new digital assets is on the rise
In roughly the past 12 months, the number of cryptocurrencies listed on CoinMarketCap.com, a main reference site for digital asset developers and speculators alike, has increased significantly.
Below is a chart compiled from the count of cryptocurrencies listed on historic snapshots of the site’s main table starting with the first snapshot on April 28, 2013 (featuring a whopping seven cryptocurrencies) and the most recent snapshot from June 4, 2017.