The cryptocurrency market saw unprecedented growth in 2017, culminating in a historic year-end snapshot. Below is the detailed ranking of digital assets by market capitalization as recorded on 31 December 2017.
Market Overview
The total cryptocurrency market cap reached $600+ billion by year-end 2017, with Bitcoin dominating nearly 40% of the total valuation. This period marked:
- The peak of the initial coin offering (ICO) boom
- Mainstream recognition of blockchain technology
- Record-breaking price rallies across major assets
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Top 20 Cryptocurrencies (31 Dec 2017)
| Rank | Name | Symbol | Market Cap (USD) | Price (USD) | Key Metrics |
|---|---|---|---|---|---|
| 1 | Bitcoin | BTC | $237.5B | $14,156 | 16.8M BTC circulating |
| 2 | XRP | XRP | $89.1B | $2.30 | 125% weekly growth |
| 3 | Ethereum | ETH | $73.2B | $757 | Smart contract leader |
| 4 | Bitcoin Cash | BCH | $42.8B | $2,533 | Bitcoin fork |
| 5 | Cardano | ADA | $18.7B | $0.72 | 91% weekly surge |
Notable Trends:
- XRP's 125% weekly gain outpaced all top assets
- Emerging platforms like Cardano and EOS entered top rankings
- Privacy coins (Monero, Dash) maintained strong positions
Market Segments Breakdown
1. Store-of-Value Coins
- Bitcoin's dominance at 39.6% of total market cap
- Litecoin and Bitcoin Gold as silver alternatives
2. Smart Contract Platforms
- Ethereum's DeFi ecosystem beginnings
- Competitors: NEO, Cardano, EOS gaining traction
3. Payment-Focused Tokens
- XRP's banking partnerships driving adoption
- Stellar Lumens (XLM) for cross-border transfers
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Historical Significance
This snapshot captures:
- The pre-2018 correction market peak
- Last rankings before major regulatory changes
- Early institutional interest in crypto assets
FAQ: 2017 Crypto Market
Q: Why did XRP surge so dramatically?
A: Partnership announcements with financial institutions and FOMO (fear of missing out) among retail investors drove XRP's price.
Q: How did Bitcoin Cash perform after its August 2017 fork?
A: BCH maintained top-5 status but saw volatility, ending the year at $2,533 after peaking near $4,000.
Q: What was Ethereum's primary use case in 2017?
A: Beyond its cryptocurrency (ETH), Ethereum became the primary platform for ICOs and early DeFi prototypes.
Q: Which top-20 projects no longer rank highly today?
A: Several 2017 leaders like BitConnect (later revealed as a Ponzi scheme) and NEM have significantly declined in market position.
Q: How did regulation impact this market phase?
A: Minimal regulation in 2017 allowed explosive growth but also enabled fraudulent projects to emerge.
Key Takeaways from 2017 Data
- Market cycles - The 2017 boom was followed by a 2018-2019 bear market
- Project longevity - Few top-20 assets maintained their positions long-term
- Technology evolution - Early smart contract platforms laid groundwork for today's DeFi ecosystem
Note: All market data reflects historical conditions and should not be considered investment advice.
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