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- 1 Bitcoin’s significant competitors in 2013 were Litecoin, Peercoin (PPC), Namecoin (NMC), Terracoin (TRC) and others.
- 2 Bitcoin price surged over 4000% in 2023 compared to its price in 2013.
- 3 Devcoin (DVC) was the only coin in the crypto market in 2013 with more circulating supply than Bitcoin.
The crypto market has passed the phase of the struggle, and the number of crypto project registrations has surged drastically. As per the available data of Coinmarketcap on April 28, 2013, there were 7 registered cryptocurrency tokens and coins in the market.
The ‘Historical Snapshot’ section of the coinmarketcap shows that Bitcoin was the leader at that time, trading around $134.21, and its market capitalization at that time was $1,488,566,971.96.At the time, Bitcoin’s top competitors included Litecoin (LTC) Peercoin (PPC), Namecoin (NMC), Terracoin (TRC), Devcoin (DVC) and Novacoin (NVC).
In the early days of cryptocurrencies, Bitcoin was the only cryptocurrency trading above $100. Litecoin (LTC) was the second most expensive coin in the market, followed by Novacoin (NVC) which was the third most expensive, trading above $4.20.
In 2013, Devcoin (DVC) was the only coin in the market with the highest circulating supply of 4,366,620,160 DVC. However, at the time of publication, Devcoin’s technical data was untraced, and it seems like the coin needed to be deregistered from the market.
The available data of Coinmarketcap shows that till September 01, 2023, there are over 1.8 Million registered crypto tokens in the market, and the entire market cap is around $1.09 Trillion.
The overall crypto market capitalization on April 28, 2013 was $1580539630.37. The crypto market has evolved rapidly in the past few years, and crypto adoption has also surged significantly.
How Bitcoin has Evolved Since 2013
Since its evolution, Bitcoin has proven its relevance in the financial market. In 2013, BTC was above $100 and at the time of publishing, it was trading above the $27k mark with the second highest volume in the crypto market excluding Tether (USDt).
The competition started among 7 cryptocurrencies in the early days of the crypto market. By the end of Q2 2023, most of these erstwhile top competitors have vanished while some of them are trading below half a penny, but some are still performing well, like Litecoin (LTE).
It is important to note that Bitcoin has also passed through the worst phase, but it maintained its relevance and sustained back from its lowest trading price of $65.53 in July 2013.
Disclaimer
The views and opinions stated by the author or anyone named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
