This year saw a lot of boom in the crypto market. Globally, $30 billion was invested in digital tokens, and their total market capitalization reached $3 trillion. In India too, crypto assets dominated this year. According to several reports, 15 million retail investors in the country have invested $6.6 billion in cryptocurrencies. Of these, 90 percent of retail investors joined cryptocurrencies in the same year.
The cryptocurrency craze is increasing all over the world including India. The reason for this is that cryptocurrencies like bitcoin have given huge returns to the investors. Bitcoin, the world’s largest, oldest and most popular cryptocurrency, has returned nearly 70 percent this year. It was priced around $29,000 at the beginning of the year, which is now over $50,000. By early November, it had passed $68,000.
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51,000 percent return
Ethereum, the world’s second largest cryptocurrency, has returned 448 percent this year. At the beginning of the year, the price was $730, which has now reached over $4,000. Correspondingly 1462 percent in BNB, 650 percent in ADA, 222 percent in DOT, 9965 percent in SOL, 250 percent in ALGO, 14849 percent in LUNA, 3251 percent in AVAX and 12800 percent.
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But according to Mudrex data, GALA outperformed everyone in terms of returns this year. Its price has risen 51,000 percent this year. Similarly, Axie Infinity (AXS) has given 19,000 per cent. return. Sandkassen (SAND) has given its investors a 15,000 percent return this year. Experts say that this year Mim Coins, Central Bank Digital Currency and Non-Fungible Tokens (NFT) remained on trend.