Ranking the 20 Most Valuable Cryptocurrencies Over Time
Many cryptocurrencies have followed Bitcoin, but none have been able to crack its dominance of the digital currency marketplace. The above interactive graphic, by CryptoReach, shows the top 20 cryptocurrencies ranked by market capitalization over the course of the past 2.5 years.
This ranking can teach us about the evolving market for cryptocurrencies and the direction it may take as more and more competing players emerge.
A Matter of Scale
The movement – or lack thereof – of market cap rankings as shown in the chart can be deceiving at first.
Keep in mind that the rankings, as listed, don’t take the scale of differences in market cap (or coin price) into account. The ever-increasing valuation of Bitcoin is a great example of this. With a market cap recently reaching $40 billion, it surpasses most other cryptocurrencies on the list by an order of magnitude despite only being separated from them by a few ranking points.
Cryptocurrencies Grow Across the Board
Just because a particular currency falls down the rankings doesn’t necessarily mean that its market cap is shrinking: it may simply not be keeping up with the growth of its peers. Dashcoin, for example, fell four ranking points between March and May of the past year despite nearly $200 million of growth in value.
This simply reflects a much broader overall trend: the extraordinary speed at which the cryptocurrency market as a whole is growing in value – that is, until the recent pullback in the last month.
Some mainstream analysts have characterized the rapidly rising valuations of cryptocurrencies in the past several months with words like “insane”, stoking fears of a bubble set to burst. So far that hasn’t happened yet, but it is true that the coin universe has had a significant pullback after powering through $100 billion in value in June 2017.
For anyone that follows the crypto market, they know that such volatility isn’t unusual. Bitcoin has often been either best or worst performing currency in back-to-back years through its short history.
But despite this aforementioned volatility in the market, the coin universe has evolved over time to include many other cryptocurrencies. With the market assigning strong valuations to many different coins, it confirms broad interest in the sector and blockchain as a whole, while helping alleviate some signs of a “bubble about to burst”.
Rise of the Disruptors
As we can see in the above graphics and the interactive chart, Bitcoin has dominated the list of highest-valued cryptocurrency players for close to three years. However, other currencies have recently entered the mainstream, preventing Bitcoin from owning the entire market.
The appearance of the more technologically advanced currency Ethereum on the market in mid-2015 appears to have challenged for Bitcoin’s share of the market, as well as ending the ongoing battle for the second-place ranking between Ripple and Litecoin. In the short span between December 2015 and February 2016 (when it overtook Ripple for the #2 rank,) Ethereum’s market cap grew nearly eight-fold.
Infographic: Generative AI Explained by AI
What exactly is generative AI and how does it work? This infographic, created using generative AI tools such as Midjourney and ChatGPT, explains it all.
Generative AI Explained by AI
After years of research, it appears that artificial intelligence (AI) is reaching a sort of tipping point, capturing the imaginations of everyone from students saving time on their essay writing to leaders at the world’s largest tech companies. Excitement is building around the possibilities that AI tools unlock, but what exactly these tools are capable of and how they work is still not widely understood.
We could write about this in detail, but given how advanced tools like ChatGPT have become, it only seems right to see what generative AI has to say about itself.
Everything in the infographic above – from illustrations and icons to the text descriptions—was created using generative AI tools such as Midjourney. Everything that follows in this article was generated using ChatGPT based on specific prompts.
Without further ado, generative AI as explained by generative AI.
Generative AI: An Introduction
Generative AI refers to a category of artificial intelligence (AI) algorithms that generate new outputs based on the data they have been trained on. Unlike traditional AI systems that are designed to recognize patterns and make predictions, generative AI creates new content in the form of images, text, audio, and more.
Generative AI uses a type of deep learning called generative adversarial networks (GANs) to create new content. A GAN consists of two neural networks: a generator that creates new data and a discriminator that evaluates the data. The generator and discriminator work together, with the generator improving its outputs based on the feedback it receives from the discriminator until it generates content that is indistinguishable from real data.
Generative AI has a wide range of applications, including:
- Images: Generative AI can create new images based on existing ones, such as creating a new portrait based on a person’s face or a new landscape based on existing scenery
- Text: Generative AI can be used to write news articles, poetry, and even scripts. It can also be used to translate text from one language to another
- Audio: Generative AI can generate new music tracks, sound effects, and even voice acting
People have concerns that generative AI and automation will lead to job displacement and unemployment, as machines become capable of performing tasks that were previously done by humans. They worry that the increasing use of AI will lead to a shrinking job market, particularly in industries such as manufacturing, customer service, and data entry.
Generative AI has the potential to disrupt several industries, including:
- Advertising: Generative AI can create new advertisements based on existing ones, making it easier for companies to reach new audiences
- Art and Design: Generative AI can help artists and designers create new works by generating new ideas and concepts
- Entertainment: Generative AI can create new video games, movies, and TV shows, making it easier for content creators to reach new audiences
Overall, while there are valid concerns about the impact of AI on the job market, there are also many potential benefits that could positively impact workers and the economy.
In the short term, generative AI tools can have positive impacts on the job market as well. For example, AI can automate repetitive and time-consuming tasks, and help humans make faster and more informed decisions by processing and analyzing large amounts of data. AI tools can free up time for humans to focus on more creative and value-adding work.
How This Article Was Created
This article was created using a language model AI trained by OpenAI. The AI was trained on a large dataset of text and was able to generate a new article based on the prompt given. In simple terms, the AI was fed information about what to write about and then generated the article based on that information.
In conclusion, generative AI is a powerful tool that has the potential to revolutionize several industries. With its ability to create new content based on existing data, generative AI has the potential to change the way we create and consume content in the future.
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