If you were to look at the cryptocurrency industry from 2009 to 2012, then you wouldn’t feel confused about it. This is because from the year 2009 to 2012, there was only one blockchain that ran Bitcoin (BTC). Therefore, there wasn’t much to be looked into and things could be calculated with a simple human effort.
Compared to the first three years of the cryptocurrency industry, it now has more than 19,000 cryptocurrencies. The daily trading volume of the entire cryptocurrency industry currently revolves around $88,099,881,747. The overall valuation of the cryptocurrency industry is more than $1.27 trillion.
This is a clear demonstration of the enormity of the cryptocurrency industry and how many transactions are being processed through the system.
Major Blockchains and Their Dominance
Over time, many blockchains have been launched into the cryptocurrency sector. Each blockchain offers its own functionality and different kinds of utilities. The blockchains with the highest adoption rates are the ones with very fastest transaction speeds, highest transaction volumes per second, and lesser fees.
At present, the major blockchains within the cryptocurrency industry are Avalanche, Solana, BNB Chain, and Polkadot. Time to go through performances of all blockchains and see which blockchain offers higher gaining opportunities.
Avalanche’s current market valuation is worth $98.65 billion and it has dived 0.36% in a 24-hour window. The trading volume for Avalanche is currently up by 11.35%. The achieved average daily trading volume for the Avalanche ecosystem is worth $5,491,691,739. The cryptocurrencies with the highest demand on the Avalanche network include Avalanche (AVAX), Chainlink (LINK), SushiSwap (SUSHI), and Ref (REN) among many more.
Solana ecosystem’s overall market valuation is worth $103.44 billion. Its current average daily trading volume is worth $70,005,117,943. Solana’s overall market valuation has reached this level after experiencing a 0.31% dip and 6.59% surge respectively. If you are looking forward to investing through the Solana blockchain, you can go ahead with Solana (SOL), The Graph (GRT), and STEPN (GMT).
Binance Smart Chain currently exists as the largest blockchain with a total valuation of $568.58 billion. If you look at its daily trading volume, it will appear to be worth $117.65 billion. The valuation for Binance Smart Chain has reportedly dived by 1.37% and its trading volume has elevated by 12.27%. The three major cryptocurrencies on the network worth trading include Ether (ETH), Binance Coin (BNB), and Cardano (ADA).
Polkadot’s valuation is worth $18.71 billion after experiencing a 0.43% dip. Then the trading volume for the blockchain is worth $2.17 billion. The major cryptocurrencies it hosts include Polkadot (DOT), Kusama (KSM), and Compound (COMP).