Looking back on the cryptocurrency horse race – Axios

Cryptocurrency might change the world, but, until then, it's a horse race. Mainly, coins are fighting to get to third place.

Why it matters: Coins that get a lock in their position at the top are likely to have found what tech people call "product-market fit." That is, some set of people has found them decisively useful in some way.

Details: This chart looks backward from the top 10 cryptocurrencies by market cap today, and where they have stood in the CoinMarketCap rankings every summer going back to 2017.

Of note: Bitcoin has always led this chart. Ethereum is solid but if you go back a little farther, it traded places with xrp a few times.

Stablecoins jump out. Note the rapid ascents of tether, usd coin and binance usd.

Also, note the white space to the left. Empty rankings on the chart are where once buzzy but now mostly forgotten cryptocurrencies sat when they still looked interesting.

What we're watching: DOGE, crypto's comeback coin, keeps on hanging on in the rankings. Much wow!

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Looking back on the cryptocurrency horse race - Axios