The progress of crypto money market from 2008 to the present-day and a MCDM implication based on investor's coin choice

The rapid advancement of technology and science globally is leading to significant transformations across various fields. Rapid technological developments have altered traditional structures and initiated a shift towards digitalization. This digitalization has impacted numerous sectors and has had a substantial effect on investment instruments. Traditionally used money is beginning to be replaced by cryptocurrencies in the digitalization process. Cryptocurrency can be defined as a completely digital currency based on the principles of cryptography, which allows for the execution of exchange transactions and ensures security through encryption. Transactions of cryptocurrencies are carried out on a system called blockchain. Unlike traditional currencies, cryptocurrencies on these blockchains do not have a centralized structure. This allows cryptocurrencies to function without being under centralized control, similar to traditional currencies. In other words, cryptocurrencies can act as a medium of exchange like traditional money, but they operate independently of central banks. This study holds unique value by examining the historical journey of the concept of money, analyzing the processes leading to the current stage, and evaluating its necessity. Utilizing technical analysis tools, it interprets the success statistics and significance levels of investors by leveraging survey data from individuals who invest. Furthermore, the study presents a multi-criteria decision-making framework that provides preferences on the top 5 cryptocurrencies by weighting the indicators obtained from the survey based on their success rates.