Last year’s most successful investments in the crypto market are strangely lagging behind the year’s top-performing altcoins thus far.
Is this a sign of things to come, or are oversold assets simply correcting more powerfully than assets that have had less overall drawdown?
Bitcoin and Exchange Tokens Lag Behind Altcoins in 2020
2019 was the year of the exchange token, led primarily by the native cryptocurrency token of the leading crypto exchange by trading volume, Binance.
Binance Coin has among the most utility in the crypto market, offering holders of the asset discounts on trading fees, access to voting privileges, and the ability to buy into new altcoin projects via initial exchange offerings.
Related Reading | Exchange-Related Tokens Dominate Crypto ROI Last Year
IEO coins like Matic, BitTorrent Token, and others, went on to be some of the most hyped altcoins of 2019.
IEOs, however, have since been demonized, being called “unregulated crypto-casino fundraising mutations” by a former SEC chief, causing them to lose much of the luster they had throughout 2019.
The success of Binance Coin has prompted other crypto platforms to launch native utility tokens of their own.
The year closed out with Bitfinex’s UNUS SED LEO and Huobi’s token leading the charge as some of the top-performing altcoins of the year last year.
But this year, exchange tokens have been underperforming collectively.
Bitcoin was also a top performer during 2019, rising in dominance substantially and cannibalizing the altcoins space in its wake.
In 2019, a year in which Bitcoin outperformed the majority of alts, exchange tokens were a bright spot, with most returning gains vs. $BTC.
In 2020, a year that (so far), has numerous alts outperforming bitcoin, exchange tokens have underperformed (ex. $BNB). pic.twitter.com/VmMhW8FL5r
— Ceteris Paribus (@ceterispar1bus) January 31, 2020
Crypto Comeback: Why Alts Are Overperforming the Rest of the Market
Come 2020, though, despite Bitcoin rising as much as 30% since the start of the year, it has been underperforming other assets like Ethereum, Litecoin, EOS, and many others in the top ten cryptocurrencies by market cap.
Bitcoin and exchange tokens may have crushed altcoins in 2019, but in 2020, it appears that the altcoin market is prepared to make up for lost ground, and will leave Bitcoin and exchange tokens in their dust.
The increased performance is likely due to just how oversold and illiquid altcoin markets are currently after two full years of a bear market and drawdown.
Altcoins have fallen by as much as 99% in value, so very little buy power can send altcoin prices flying.
Still, many alts remain relatively stagnant, including XRP and Stellar. XRP has underperformed the rest of the crypto market top 10, and Stellar’s performance surely hasn’t lived up to the altcoin’s namesake.
Related Reading | Ravencoin, HoloChain, and Binance IEO Altcoins Expected To Skyrocket Next Bull Run
The early rise in altcoins could lead to a full-blown alt season where altcoins vastly outperform Bitcoin for a period of time, resulting in massive rallies not only in USD value but BTC value as well.
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At the current price of $7,800 (according to BitMEX) BTC is up 44% so far this month, which would be the coin’s best performing month since it increased by 64% in November 2017. As we analyzed yesterday, altcoins have historically outperformed BTC following a surge in its price; they essentially lag behind its gains.
The last couple of hours and days by extension, have seen Bitcoin record massive gains. As we reported, Bitcoin on Thursday got above $6,100, a position it has remained below for nearly 6 months.
Major darknet markets come and go in eras, so it seems, and the current one may be ending. Two of the biggest digital black markets seem to be disappearing, both at the same time.
In a recent episode of Unchained Podcast, Charlie Lee, the creator of one of the market’s leading altcoins, Litecoin, discussed his vision behind Litecoin and where it was heading in the future.
Bitcoin has seen its price set a new 2019 high again this month as it approaches the $5,600 mark on most cryptocurrency exchanges. This latest rally has also seen Bitcoin’s trading volume and market dominance increase over the past 24 hours.
The past several weeks have been overwhelmingly positive for the crypto markets, with Bitcoin finding its footing in the lower-$5,000 region and many altcoins putting a significant amount of distance between their current prices and their 2018 lows.
While Bitcoin and most altcoins have been pumping over the past few weeks, XRP lagged behind in price gains. Ripple and XRP still have a strong community of enthusiasts and holders, but some are starting to wonder why the price isn’t moving.
Crypto markets remain in reasonable shape; Tezos still running, BNB and Dash close behind, EOS cooling off. Market Wrap There have been marginal declines for the majority of cryptocurrencies over the past 24 hours but crypto markets remain at their highest levels for the month with total capitalization still above $140 billion and looking to.
During the last few weeks, Altcoins have been performing very positively in the cryptocurrency market. There were several digital assets that performed better than Bitcoin (BTC) and that are helping the whole crypto market to leave the bear trend.
After last week’s price action, the crypto market quieted down. Bitcoin entered a lull, while altcoins followed close behind. Yet, the wheels of the crypto train have continued to spin. Twitter CEO Jack Dorsey revealed that his fintech upstart would eventually integrate Bitcoin’s Lightning Network, JP Morgan launched its own digital asset on a private.
Cryptocurrency derivatives marketplace, Delta Exchange has launched the World’s first stablecoin-settled futures on bitcoin and leading altcoins. With the days of one way up moves in cryptocurrency prices behind us, the global crypto trading action is moving to futures exchanges.
What’s Was Behind Friday’s Crypto Boom? Your eyes aren’t kidding themselves. On Friday, the Bitcoin price truly did boom, with BTC moving higher than $3,700 for the first time in seemingly forever, seemingly on the back of zero catalysts.
Punxatawny Crypto – The Winter Is Not Over For Bitcoin, Altcoins – Clients Are Warned By Fundstrat For a number of investors and crypto enthusiasts out there, the winter is behind the cryptocurrency market, at least this is what they'd like to believe.
Darknet markets are going as strong as ever, if Chainalysis data is to be believed. In its latest Crypto Crime Report, published earlier this week, blockchain analytics firm Chainalysis reports that darknet market activity has nearly doubled throughout 2018.
Bitcoin price fell 3 percent to lose support at $3500 January 28, abruptly ending a week in which volatility hit its lowest levels in over two months. Bitcoin Price Struggling Amid Low Volatility Data from Coinmarketcap showed the knock-on effect of Bitcoin (BTC) aiming downwards Monday, with altcoins in the top twenty cryptocurrencies by market cap repeating the losses.
According to a study by LongHash, in the cryptocurrency world, Bitcoin activity blows away the field. In fact, the next four coins behind BTC in market cap have less active addresses combined. LongHash says there is more to look at than just market capitalization to determine how much crypto is spreading.
Latest Cardano News Last year, ADA prices did sink, printing new lows but then the team behind Cardano were unfazed and on a development overdrive, crashing milestones. No doubt, The Cardano Foundation, Emurgo and IOHK are working overtime and not just rehashing stuff.
Litecoin has been in existence since 2011. The market was swept with new altcoins (shitcoins?) in the last two years which saw Litecoin drop behind in media coverage and buyer’s attention. Once second largest cryptocurrency, Litecoin got pushed down by new projects one by one to its current 7th position in the rankings of crypto […]
The post What will be a success for Litecoin (LTC) in 2019? Probably just staying alive. appeared first on CaptainAltcoin.
In the last 24 hours, Bitcoin Cash was able to make up gains of 25 percent. The situation is similar throughout the crypto market. The Ripple price (XRP), Ethereum, IOTA and almost all Altcoins can also profit from the upswing.
Bitcoin Stabilizes Under $4,300 After a monumental rebound early this week, which sent Bitcoin (BTC) above $4,300 after weeks of dismal selling pressure, while altcoins followed close behind, the cryptocurrency market at large has found a sense of stability.
When an overwhelming number of cryptocurrency investors thought it couldn’t get any worse, it did. Bitcoin (BTC), after falling under $5,800 on November 14th, continued lower on Monday and Tuesday morning, moving under a multitude of supposed support levels at $5,000, $4,800, and, most recently, $4,400.
Bitcoin is falling, Altcoins are not left behind. As Bitcoin drops to $4,400, majority of Altcoins have lost their momentum, with more than twenty Altcoins falling by 10%. On a basic bear market, Altcoins may lose a maximum of 5 to 7%, but if traders needed more proof that a bloodbath has surfaced, it is […]
The post Bearish Crypto Market: Is This The Best Time To Buy? appeared first on ZyCrypto.
The bearish market may not be in total control of most cryptocurrencies as was the case a few days back when the bears hit Bitcoin down to the $5k region for the second time this year. Altcoins were not exempted from the scary event that has now led the Ethereum and XRP to trade places.
Crypto Market Stabilizes After Drop, Analysts Skeptical As reported by Ethereum World News previously, on Wednesday morning, the jaws of crypto investors worldwide hit the floor, as Bitcoin (BTC) tumbled under $5,800 for the first time in months.
First it was ZRX that surged in the anticipation of its listing on Coinbase, then it was BAT’s turn. Once BAT did its ritual pump and dump, buyers are parking their gains from these two altcoins into the next top candidates for Coinbase listing.
All of the major cryptocurrency markets continue to note impressive gains as more time progresses. Further down the rankings, most of the altcoins also remain firmly in the green, which is a very promising sight to behold.
The 2018 cryptocurrency market has been under the exclusive control of the bears — but behind the scenes, blockchain…
The post 5 Altcoins Under 5 Cents With High Potential appeared first on Invest In Blockchain.
Even though some altcoins are generating a bit of an uptrend, there is still a good chance the momentum will turn around. In the case of Komodo, the altcoin is making some interesting gains right now.
Chart for EOS/USD (1W) Cryptocurrency markets plunge deep in the red, dancing to the tune of Bitcoin (BTC). Eos (EOS) investors are not moved by this confusion. In fact, as the above weekly chart for EOS/USD shows, the price of Eos (EOS) has not corrected the same way as the rest of the market.
For well over a year, versions of Bitcoin Core — Bitcoin’s leading software implementation — contained a severe software bug. The bug was fixed with Bitcoin Core 0.
There is no doubt that peculiar altcoins exist. This article takes a look at some of these altcoins and the outrageous reasons behind their existence.
The post The Bizarre Side of Blockchain | Peculiar Altcoins appeared first on CoinCentral.
Marijuana is an ever-growing industry where even some authorities have backed away from it. Nevertheless, in combination with credit card businesses and banks denying to provide services to many companies, limits have been put in place which has given alternative systems a great chance to prove themselves.
With the trouble-making August behind us and the ninth month entering with a bullish sentiment with various coins, a fresh start seems to have taken the crypto-verse. Keeping in mind from last year, and the teasing of many respected individuals the upcoming months could be very well the time of altcoins.
The positive momentum continues to affect all cryptocurrencies, even though the reasoning behind it remains rather unclear. As long as Bitcoin remains in the green, altcoins continue to thrive. The IOTA price is noting some very solid gains over the past few hours.
Altcoins are making a comeback and none stands out like Stellar Lumens gains. CoinBase’s announcement and Tempo’s integration might be behind this but what is clear is that price action now favors buyers.
Since its invention, a recurring question for cryptocurrency holders has been how to best secure their digital assets. This question of security carries the greatest weight when one understands the stakes of holding unprotected cryptocurrency — vulnerability to hackers.
It’s been a turbulent time for the cryptocurrency markets, so now is a good time to reflect on how and why we got here in the first place. First, an op ed makes the ideological case for Bitcoin.
South Korean cryptocurrency exchange Coinrail reported a hack on its website during the early morning hours of June 10, 2018. The thieves allegedly made off with over $40 million worth of altcoins and assorted tokens.
The SEC warned investors that initial exchange offerings, while claiming to be different from initial coin offerings, may still violate federal securities law.
Tokens that emerged from Initial Exchange Offerings (IEOs) have demonstrated a poor performance this year, according to BitMEX research. Most IEOs Have Failed Despite Bitcoin Surge In May of this year, BitMEX published its first piece of research on IEOs, concluding that the market was doing much better than initial coin offerings (ICOs).
