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The Great Crypto Shuffle: How 2017’s Top 100 Coins Fared In The Rollercoaster Market


The Great Crypto Shuffle: How 2017’s Top 100 Coins Fared In The Rollercoaster Market
The Great Crypto Shuffle: How 2017’s Top 100 Coins Fared In The Rollercoaster Market

A recent analysis by an analyst has painted a clearer picture of just how volatile the crypto market has been, especially for those who took their chances on lesser-known altcoins a few years back.

The analyst studied the top 100 cryptocurrencies as they stood in December 2017 and found that the fortunes of these digital assets varied significantly over the past six years.

From Prominent To Obscure: The Rise And Fall Of 2017’s Crypto Stars

Six years in the financial world is relatively short, but it can seem like an eternity for the fast-paced crypto market.  An X (formerly known as Twitter) user named davanai shared his analysis of the top 100 cryptos in 2017, revealing some startling figures.

Out of the top 10 cryptos, New Economic Movement (XEM) is the only one that has dropped out of the top 100 list. On the other hand, previous giants like Monero and Dash are teetering on the brink of exiting the elite group.

Amid these declines, the twin towers of the crypto world, Bitcoin (BTC) and Ethereum (ETH), have held their positions at 1st and 2nd spot, respectively. XRP, among the most discussed cryptos in the 2017 bull run, has slipped only slightly to the 5th position.

Bitcoin (BTC) price chart on TradingView amid crypto analysis

Cardano (ADA), too, while losing two spots, remains in the top ten. However, not all stories are of resilience. Populous Coin (PPT), once the 19th largest crypto, is now a shadow of its former self, trading at 99.97% below its all-time high.

Distinguishing The Winners From The Losers

Interestingly, the analyst classified 27 of the top 100 cryptocurrencies as “scams”. While this doesn’t directly confirm any deceit, these digital currencies have nearly vanished in terms of market presence and activity.

Out of the top 100, just 21 achieved record highs during the initial three months of 2021, while 68 remain below their highest valuations from 2017 or “almost a scam,” according to the analyst.

On the brighter side, three altcoins have climbed up in their rankings since 2017. Binance Coin (BNB), Chainlink (LINK), and Dogecoin (DOGE) have defied the broader trend, proving that it’s not all doom and gloom in the altcoin world.

The findings provide a cautionary tale for crypto investors. As the analyst pointed out, purchasing the top 100 cryptos would likely result in losses over time. As traditionally understood, diversification may not apply in the high-stakes world of crypto investing.

Featured image from Unsplash, Chart from TradingView

Read the article at NewsBTC

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The Great Crypto Shuffle: How 2017’s Top 100 Coins Fared In The Rollercoaster Market


The Great Crypto Shuffle: How 2017’s Top 100 Coins Fared In The Rollercoaster Market
The Great Crypto Shuffle: How 2017’s Top 100 Coins Fared In The Rollercoaster Market

A recent analysis by an analyst has painted a clearer picture of just how volatile the crypto market has been, especially for those who took their chances on lesser-known altcoins a few years back.

The analyst studied the top 100 cryptocurrencies as they stood in December 2017 and found that the fortunes of these digital assets varied significantly over the past six years.

From Prominent To Obscure: The Rise And Fall Of 2017’s Crypto Stars

Six years in the financial world is relatively short, but it can seem like an eternity for the fast-paced crypto market.  An X (formerly known as Twitter) user named davanai shared his analysis of the top 100 cryptos in 2017, revealing some startling figures.

Out of the top 10 cryptos, New Economic Movement (XEM) is the only one that has dropped out of the top 100 list. On the other hand, previous giants like Monero and Dash are teetering on the brink of exiting the elite group.

Amid these declines, the twin towers of the crypto world, Bitcoin (BTC) and Ethereum (ETH), have held their positions at 1st and 2nd spot, respectively. XRP, among the most discussed cryptos in the 2017 bull run, has slipped only slightly to the 5th position.

Bitcoin (BTC) price chart on TradingView amid crypto analysis

Cardano (ADA), too, while losing two spots, remains in the top ten. However, not all stories are of resilience. Populous Coin (PPT), once the 19th largest crypto, is now a shadow of its former self, trading at 99.97% below its all-time high.

Distinguishing The Winners From The Losers

Interestingly, the analyst classified 27 of the top 100 cryptocurrencies as “scams”. While this doesn’t directly confirm any deceit, these digital currencies have nearly vanished in terms of market presence and activity.

Out of the top 100, just 21 achieved record highs during the initial three months of 2021, while 68 remain below their highest valuations from 2017 or “almost a scam,” according to the analyst.

On the brighter side, three altcoins have climbed up in their rankings since 2017. Binance Coin (BNB), Chainlink (LINK), and Dogecoin (DOGE) have defied the broader trend, proving that it’s not all doom and gloom in the altcoin world.

The findings provide a cautionary tale for crypto investors. As the analyst pointed out, purchasing the top 100 cryptos would likely result in losses over time. As traditionally understood, diversification may not apply in the high-stakes world of crypto investing.

Featured image from Unsplash, Chart from TradingView

Read the article at NewsBTC

Read More

Here are the Stars of the Day: While Bitcoin is Trying to Recover, Whales Bought the Most from These Altcoins in the Last 24 Hours!

Here are the Stars of the Day: While Bitcoin is Trying to Recover, Whales Bought the Most from These Altcoins in the Last 24 Hours!

While Bitcoin was recovering, according to Nansen data, whales bought altcoins named ...
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Over $256,000,000 in Chainlink (LINK) Abruptly Sent to Crypto Exchanges in Just 24 Hours, Says Analyst

Over $256,000,000 in Chainlink (LINK) Abruptly Sent to Crypto Exchanges in Just 24 Hours, Says Analyst

Over a quarter billion dollars worth of Chainlink (LINK), the leading blockchain orac...
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