Layer by Layer Issue 11: Solana, Binance Smart Chain, Terra, and Cosmos

As we enter into the second week of Q4 2021, the cryptocurrency market is again on the cusp of reaching new all-time highs in terms of overall market capitalization. Total crypto market cap had reached a local high of about $2.47T at the beginning of September, just shy of the peak reached back in May, before sharply correcting to a local low of about $1.85T in mid-September.

As of this writing, the total crypto market cap stands at about $2.37T, again inching closer to new highs. Often, these new highs are an indication of new money entering the market, which now has more options than ever before for users looking to deploy their capital. Even a market that is still composed of Bitcoin and Ethereum to a large extent (BTC and ETH currently make up about 61% of the entire crypto market) can offer opportunities for new ecosystems to flourish.