The combined market capitalization of Bitcoin, Ethereum, and XRP, hit USD 511.5bn in December 2020, a 235% year-on-year increase, according to Finaria.
Bitcoin saw a 224% increase in market capitalization since the beginning of the year. After a sharp fall to USD 88.96 billion in March 2020, the combined value of all Bitcoins circulating in the crypto space increased to USD 168 billion in June. During the second half of the year, this figure jumped 150% and hit USD 419 billion in December 2020.
However, CoinMarketcap data indicates that Ethereum has witnessed the most impressive growth among the top three cryptocurrencies this year. In January 2020, the market capitalization of the second-largest cryptocurrency globally was USD 14.2 billion. Statistics show that Ethereum’s market cap has increased 387% since early 2020 hitting USD 68.8 billion this week.
As the third leading cryptocurrency in the world, XRP saw a 152% rise in market cap, with the figure growing from USD 9.4 billion in December 2019 to USD 23.7 billion this week.