CMC turns 10! On this occasion, let’s take a trip down memory lane and explore the significant moments that shaped the crypto landscape!
The original article and photo were taken from the source below:
The Story of Crypto & CoinMarketCap: How Far We've Come | CoinMarketCap
2008: Bitcoin’s Inception — A New Financial Frontier
- In 2008, Bitcoin emerged as a groundbreaking concept amidst economic turmoil.
- The registration of Bitcoin.org marked the start of this journey.
- Satoshi Nakamoto published the Bitcoin whitepaper on October 31, introducing the idea of a decentralized digital currency.
- 2008 marked the beginning of conversations and debates within the cryptography community about this innovative concept.
- Bitcoin had no monetary value in 2008 and was yet to be publicly released.
2009: Bitcoin’s Genesis — Mining, Software, and Real-World Transactions
- 2009 witnessed significant developments:
- The mining of the Genesis block.
- The release of the first open-source Bitcoin software.
- The first real-world Bitcoin transaction occurred.
- Bitcoin’s value began to take shape, initially traded at an exchange rate of 1,309.03 BTC for 1 USD.
2010: Bitcoin’s Early Milestones — Pizzas, Exchanges, and Market Cap
- Bitcoin achieved various milestones:
- The famous pizza transaction where 10,000 BTC were exchanged for two pizzas.
- The emergence of Mt. Gox as one of the first Bitcoin exchanges.
- A swift correction of the Bitcoin protocol bug incident.
- Bitcoin’s market cap surpassed the $1 million mark.
2011: New Cryptocurrencies, Parity with USD, and Bitcoin’s Evolution
- 2011 introduced new cryptocurrencies like Litecoin and Peercoin.
- Bitcoin achieved parity with the US dollar, signifying its growing significance as an alternative currency.
- Satoshi Nakamoto’s disappearance left Bitcoin in the hands of Gavin Andresen.
- WikiLeaks embraced Bitcoin donations, highlighting its potential for privacy and international support.
- The inaugural Bitcoin conference in New York City marked the growing importance of cryptocurrencies.
2012: Bit by Bit — Evolution, Expansion, and Scarcity
- In June 2012, Coinbase, a comprehensive cryptocurrency exchange and wallet service, made its debut, quickly gaining popularity as a reliable and user-friendly platform.
- On September 27, the Bitcoin Foundation was established to encourage Bitcoin’s use and development, playing a pivotal role in supporting education, policy advocacy, and technical updates.
- On October 16, BitPay announced it had surpassed 1,000 monthly Bitcoin transactions, signaling the growing acceptance of digital currencies in everyday business transactions.
- On November 28, the first Bitcoin halving occurred, reducing the mining reward from 50 BTC to 25 BTC, emphasizing Bitcoin’s deflationary nature and potential as a long-term store of value.
- On November 15, WordPress, a popular media outlet, started embracing Bitcoin payments, marking an important step in the acceptance of cryptocurrencies for mainstream commerce.
2013: Crypto’s Trifecta — Fed’s Embrace, Silk Road’s Demise, CoinMarketCap’s Rise
- On April 1, the U.S. Federal Reserve recognized cryptocurrencies, a landmark moment that signified the legitimization of digital currencies.
- In May, CoinMarketCap was founded, offering comprehensive data on cryptocurrencies, becoming an indispensable resource for crypto enthusiasts.
- On October 1, the arrest of Ross Ulbricht led to the shutdown of the infamous Silk Road marketplace, demonstrating the potential consequences of using Bitcoin for illicit activities.
- On October 29, the world’s first Bitcoin ATM was launched in Vancouver, Canada, bridging the gap between digital and traditional currency.
2014: Ethereum Emerges — A Year of Innovation, Adoption, and Challenges
- On February 28, Mt. Gox, the largest Bitcoin exchange, went bankrupt, rattling the cryptocurrency world and exposing vulnerabilities of centralized exchanges.
- On March 24, TeraExchange launched the first regulated Bitcoin futures exchange, paving the way for more sophisticated financial instruments tied to cryptocurrencies.
- On March 25, the IRS issued tax guidance for virtual currencies, bringing cryptocurrencies into the mainstream financial world.
- In July, Ethereum raised over 25,000 BTC in its ICO, establishing itself as a major player in the blockchain ecosystem.
- On December 11, Microsoft began accepting Bitcoin payments, marking a significant milestone in cryptocurrency recognition by a major tech company.
2015: The Exchange Evolution
- On April 8, ShapeShift was launched, offering a crypto-to-crypto instant exchange, revolutionizing how users exchanged digital assets.
- On June 3, BitLicense was introduced in New York, regulating cryptocurrency businesses and setting a benchmark for other jurisdictions.
- On July 30, Ethereum, the first programmable blockchain, was launched, enabling decentralized applications (dApps) and smart contracts on a global scale.
- On October 8, Gemini, a US-based cryptocurrency exchange co-founded by the Winklevoss twins, gained prominence for its focus on security and compliance.
- On October 27, Nasdaq unveiled Linq, a blockchain-backed trading platform, showcasing early use cases of decentralized ledgers in traditional finance markets.
2016: The Wild Ride of Crypto Hacks, Innovations, and Privacy Pioneers
- On April 30, The DAO launched, becoming one of the largest crowdfunding initiatives in history, marking the rise of decentralized fund management.
- In May, CoinMarketCap launched its first public API, providing developers with access to real-time market data and key metrics.
- On June 17, Bitmain launched the Antminer S9, a highly efficient Bitcoin mining machine.
- On July 20, Ethereum underwent a hard fork, resulting in the creation of Ethereum Classic.
- On August 2, Bitfinex was hacked, resulting in the theft of 120,000 BTC.
- On October 28, Zcash, a privacy-based cryptocurrency, was launched, aiming to enhance user privacy.
2017: Crypto Explodes — ICO Boom, Forks, and Wall Street’s Embrace
- On March 10, the SEC rejected several Bitcoin ETF proposals, delaying institutional investment in the cryptocurrency space.
- On August 1, the Bitcoin Cash hard fork occurred due to scaling debates, creating a separate blockchain for faster and cheaper transactions.
- The ICO boom in 2017 drove significant cryptocurrency adoption, raising billions through initial coin offerings (ICOs) and fueling mainstream interest.
- In December, CME Group and Cboe Global Markets launched Bitcoin futures, offering institutional investors regulated exposure to cryptocurrency markets.
- On December 17, the market capitalization of all cryptocurrencies combined reached $800 billion, with Bitcoin and Ethereum leading the surge.
2018: Sticks and Stones Break Bones — But Not Crypto’s
- On January 30, Facebook banned cryptocurrency ads to protect users from misleading financial products and services.
- Throughout 2018, the cryptocurrency market experienced a significant downturn, with BTC dropping from $20,000 to below $4,000.
- On March 15, the Lightning Network went live, enabling faster and cheaper Bitcoin transactions.
- In April, EOS.IO launched its mainnet to compete with Ethereum in the smart contract and dApp market.
- In May, CoinMarketCap launched its first iOS app.
- In June and July, Binance became the largest cryptocurrency exchange by trading volume.
- In August, CoinMarketCap launched its professional API.
- By December, CoinMarketCap ended the year with 3.6 billion page views, solidifying its position as a go-to platform for cryptocurrency market data and insights.
2019: Banks, Giants, and Nations Embrace Crypto
- On February 14, JPMorgan Chase announced the JPM Coin, its own digital currency.
- In April, CoinMarketCap launched its first Android app.
- In May, CoinMarketCap formed the DATA Alliance to promote data transparency and accountability in the crypto space.
- On June 18, Facebook announced the Libra project (now Diem), a permissioned digital currency.
- On June 26, CoinMarketCap acquired Hashtag Capital.
- On September 23, Bakkt was launched, offering Bitcoin futures trading and custodial services.
- In October, the U.S. Internal Revenue Service (IRS) updated its cryptocurrency tax guidelines.
- In November, China announced plans to launch a digital version of its national currency, the yuan.
- In November, CoinMarketCap introduced the Liquidity Metric.
- By the end of the year, CoinMarketCap concluded with 13.2 billion page views, further establishing itself as the preferred source for comprehensive cryptocurrency market knowledge and research.
2020: The DeFi Explosion and Mainstream Acceptance
- In April, Binance acquired CoinMarketCap.
- On May 11, Bitcoin underwent its third halving, reducing the mining reward to 6.25 BTC.
- In June, CoinMarketCap upgraded its Liquidity Score with a new methodology.
- On July 22, the OCC allowed U.S. banks to provide custody services for cryptocurrencies.
- In September, the DeFi boom accelerated, with Total Value Locked (TVL) surpassing $10 billion.
- In September, CoinMarketCap launched CMC Alexandria, its educational portal.
- On August 11, MicroStrategy invested in Bitcoin as a reserve asset.
- In October, PayPal announced support for cryptocurrency transactions.
- By the end of 2020, CoinMarketCap
2021: A Revolutionary Year — Bitcoin Becomes Legal Tender
- On February 8, Tesla bought $1.5 billion worth of Bitcoin, further legitimizing digital currency as an asset.
- On March 11, the first Bitcoin ETF was approved in North America (Canada), signaling growing institutional interest.
- On March 11, the NFT market boomed, with pieces like Beeple’s artwork selling for $69 million.
- In April, CoinMarketCap underwent a homepage revamp, introducing advanced filtering, an ICO calendar, and updated portfolio and watchlist features.
- On April 14, Bitcoin reached an all-time high of $68,789 USD.
- In June, CoinMarketCap launched Diamonds rewards loyalty program.
- On August 5, Ethereum underwent the London upgrade, introducing a new fee structure, EIP-1559.
- On September 7, El Salvador became the first country to adopt Bitcoin as legal tender.
- By the end of December, CoinMarketCap celebrated 13.2 billion page views, cementing its status as a premier source for cryptocurrency market data and research.
2022: NFTs Keep Shining and CBDCs and Protocol Upgrades Take the Stage
- The number of non-fungible tokens (NFTs) sold surpassed 1 million, continuing the NFT market’s meteoric rise.
- In April, CoinMarketCap’s YouTube channel gained 380,000 followers, becoming a prominent resource for cryptocurrency news and education.
- In May, Terra experienced a bank run and collapsed to practically zero, highlighting the volatility of algorithmic stablecoins.
- In May, CoinMarketCap organized “The Capital: Time to Ship” conference.
- In June, CoinMarketCap’s monthly page views exceeded 340 million, reflecting its widespread popularity.
- In August, CoinMarketCap introduced DexScan, a powerful DEX screener tool covering over 50 chains and more than 100 DEXs.
- On September 15, Ethereum 2.0, a major blockchain upgrade, was fully implemented.
- CoinMarketCap launched CMC Community in Q2, serving as a social hub for crypto discussions and connections.
- On October 25, Bloomberg Businessweek devoted an entire issue to crypto, emphasizing its growing significance in the financial world.
- In November, FTX faced a crash and exposed fraudulent business practices, marking a low point for cryptocurrencies in the 2022 bear market.
2023: Accelerating Adoption — Bitcoin Outpaces S&P
- Bitcoin outperformed 97% of all S&P 500 companies in 2023, solidifying its position as a top-performing asset.
- Nearly a million addresses held 1+ BTC, indicating increasing adoption.
- In March, BlackRock explored the “tokenization of stocks,” demonstrating institutional interest in digital assets.
- In March, Microsoft tested Edge browser Web3 wallet integration, further integrating cryptocurrencies into mainstream tech.
- In May, CoinMarketCap announced a reality TV show, “Killer Whales,” in partnership with HELLO Labs, to promote Web3 projects and NFTs.
- CoinMarketCap introduced the NFT detail page, allowing users to track NFT prices, fees, and historical data.
- BlackRock filed an application for a Bitcoin ETF, indicating continued institutional interest in the crypto market.
- Microsoft tested a Web3 wallet integration into its Edge browser.
- The SEC targeted major cryptocurrency exchanges for trading unregistered securities, impacting the crypto space significantly.
Conclusion
- The history of cryptocurrency is far from over, with new developments and challenges emerging daily. The journey has been marked by innovation, adoption, and growing acceptance by institutions and mainstream companies. The future of crypto remains dynamic and full of promise, making it an exciting space to watch and participate in. Here’s to many more years of crypto history!
The Story of Crypto & CoinMarketCap: How Far We’ve Come (Express Summary) was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.
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