Two Years Ago Today: How Was The Crypto Markets Back in 2016?
Two years might not seem a lot of time but in the cryptocurrency sector, it really does. Just like Binance CEO Changpeng Zhao said before, a year in the crypto market goes like 10 years in the normal life.
Today, we are going to show you how was the cryptocurrency markets back in two years ago. Before we start, we can say that all of the top three cryptocurrencies remains the same but the prices could look like comical back in 2016.
Back in 25th of September 2016, you can buy a Bitcoin for $602. Now, Bitcoin is almost 10 times expensive comparing the two years ago.
Ethereum, also traded around $13. Which is quite a thing especially considering it’s now $220. Just going back to 8 months ago, Ethereum was traded nearly around $1400 so this is almost 110 times expensive than it’s two years ago from today.
XRP, the native cryptocurrency in the Ripple ecosystem, has managed to gain almost 68 times to its value as the XRP traded $0.0073 back in 25th of September, 2016. Now, at the time of writing XRP currently trading around 0.5 dollar.
Litecoin and Monero are the other two coins who’s at the top 5 coins back in 2016 but they have fallen from their list and replaced by Bitcoin Cash and EOS. Litecoin traded around $3.8 at that time but now its traded around $53.
Monero also managed to give its investors 10 times return comparing the two years ago. The privacy orientated coin was traded around $10,5 but now, you need to pay $115 to buy one XMR.
The sixth coin of September 2016 was Ethereum Classic but the coin now out of that list. Still, ETC also managed to rise strongly as it’s traded for $1.25 two years ago but now one ETC equals roughly $11.
Also, another currency Steem has suffered a significant loss. The coin is now ranked 34th but it’s in the top 10 two years ago. Steem only managed to give 60 percent returns to its investors as the coin managed to jump to $1 from $0,6.
DASH and NEM also slid from the top 10 list. Dash currently sitting in the 11th place and trading for $184. Back in the day, DASH was traded around $11, so it is quite a huge gain for the DASH investors.
You need to pay $0.005 to buy one NEM back in the day but the currency now trading around $0,09 so that’s a healthy 17x return.
Now, the top 10 currencies in the sector according to Coin Market Cap are Bitcoin, Ethereum, XRP, Bitcoin Cash, EOS, Stellar, Litecoin, Tether, Cardano and Monero. We are eager to see how will markets shape up in the next two years.