History of the Development Stages of the Crypto Market
The cryptocurrency market has gone through many ups and downs, from an experimental concept to an industry worth trillions of USD.
1. Initial phase (2009 – 2012):
#bitcoin was founded in 2009 by Satoshi Nakamoto, marking the beginning of the decentralized cryptocurrency era. At this time, the market was still in its infancy, mainly attracting technology developers and a small community. The value of Bitcoin was very low, but early platforms like the Mt. Gox exchange had already emerged.
2. Altcoin boom phase (2013 – 2016):
The initial success of Bitcoin spurred the emergence of a series of altcoins like Litecoin, Ripple, and Ethereum. Notably, Ethereum with smart contracts paved the way for blockchain applications in various fields, laying the foundation for the modern crypto ecosystem.
3. ICO and strong growth phase (2017 – 2020):
The year 2017 marked the ICO frenzy, when projects easily raised funds through tokens. Bitcoin peaked at nearly 20,000 USD before crashing sharply in 2018, leading to the 'crypto winter'. However, this was also the period when DeFi platforms emerged and preparations for practical blockchain applications began.
4. Maturity and expansion phase (2021 – present):
The explosion of NFTs, the Metaverse, along with DeFi has pushed the market to a trillion USD capitalization. Bitcoin peaked at over 69,000 USD in 2021. Despite its volatility, crypto is increasingly attracting the interest of major financial institutions, marking a shift from 'speculative asset' to 'institutional asset'.
