2018 will go down in history as a very bad year for the cryptocurrency industry, as most cryptocurrencies suffered a dip in price and the overall loss in value. The situation led to the loss of confidence in the market by investors and traders, with the overall market down by over 84%.
The Cryptocurrency Market in 2018
The market hit its peak in the first month of the year when it reached $812 billion, but the fortune of the market took a negative turn afterward, with market value closing around $125 billion at the end of the year after losing grounds by over 84% throughout the year.
Most of the major cryptocurrencies lost their grounds in the year under review, with both Bitcoin (BTC) and XRP dropping by over 75% in the year 2018.
While all other cryptocurrencies were in red throughout the year, Bitcoin SV (BSV) maintained a positive territory throughout 2018, which was largely due to its meager price.
Below is the list of major cryptocurrencies that have outperformed, relative to the rest of the market.
The top performers after BSV interestingly turned out to be cryptocurrency exchange tokens, Binance Coin (BNB) and Huobi Coin (HT). Analysts in August observed that BNB was the less-risky compared to the other cryptos at that time.
Some of the top cryptocurrencies in the year under review have had a strong focus on blockchain gaming applications. While Loom Network (LOOM) and decentralized (MANA) focused their energy on gaming, TRON (TRX) adopted an aggressive strategy to onboard game developers.
The Worst Cryptocurrencies in 2018
While some digital currencies experienced a good outing in 2018, some did not have it good. Cryptocurrency like SALT experienced quite a lot of setbacks during the year and can only hope for a good turn of events in 2019.
The biggest losers in 2018 are not the biggest shitcoins in the world, but rather, coins that were drastically overvalued during the peak period of the crypto market when it experienced a boom in the price and value.
With the birth of the new year, investors are advised to be on the lookout for profitable investments and not just jump on any available cryptocurrency, so they would not fall, a victim of a bad investment, as they did in 2018.