Taking Stock: the Top 10 Cryptocurrencies One Year Into the Bear Market
February 14, 2019 by
This month, entered its longest bear market to date. The top 10 today look a lot different now, in several senses, than they did last February. It’s a good time to take stock one year into the downturn.
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Surprise, Surprise: BTC, ETH, XRP Still Holding Down the Top
Last Valentine’s Day, took a run from $8,599 USD to over $9,500 in a matter of hours. One year later, the genesis is hovering above $3,500 after finding support at that price in recent days.
The price is obviously far different now, but the fundamentals around the protocol are also changed. The Lightning Network’s has led to new rumblings that the blocksize should be .
and have swapped places a few times amid the downturn in the market cap rat race, but they’ve continued to round out the top three behind .
continues to churn along toward its scaling triumvirate of sharding, Casper, and Plasma, though its community is with how best to actualize the ’s major Serenity update. And as for XRP, its ecosystem has seen RippleNet reach 200 institutional , but the as competitors gain ground in the global settlements arena.
LTC, EOS, BCH Top Mid-Cap Cryptos
recently advanced in the top 10 upon talks the ’s developers would move to implement the privacy protocol MimbleWimble. , which raised more than $4 billion in its ICO, now has a market cap of $2.5 billion, though its dapp usage has grown courtesy of a .
The (BCH) price was gouged after the contentious SV fork last fall, but on the technical side, there’s an interesting swell in the community to embrace the . And Tether has managed to stay the cryptoeconomy’s top stablecoin even after last year, while (TRX) has weathered controversy and enjoyed a gambling dapp surge of its own.
Rounding out the present top 10 is and ’s . The ecosystem has seen some recent , while has seen and is arguably the most underrated of the top 10 .
Zooming out, the dominance rate is currently over 52 percent, with no flippenings in sight. And one year ago, the OG crypto’s market cap was $160 billion — nearly $40 billion above the entire cryptoeconomy’s $121 billion market cap today.
Where the dominance rate and the market cap will sit one year from now remains an open question going forward, though it wouldn’t be surprising to see , ETH, and XRP holding the top three again at this point in 2020.
What’s your take? What will the top 10 look like at this point next year? Let us know in the comments section below.
Images via CoinBillboard, Pixabay
Published at Thu, 14 Feb 2019 21:14:40 +0000