Cryptocurrency Bear Market Has Hurt These Top 5 Coins the Least in 2018
2018 has been one of the most difficult years for the cryptocurrency markets in recent history. Though many coins fare much better now than they did a few years ago, the market has seen some of the most significant crashes that it has witnessed since pre-2016. It all started with the Bitcoin crash from three months ago, when the currency fell to a recent low of around $6,000—and has been very slow to recover.
But the crypto markets are no longer dominated exclusively be the main cryptocurrencies. In fact, the creation of hundreds of new “altcoins” as a result of Initial Coin Offerings (ICOs) in 2016 and 2017 has resulted in thousands of new pairings and markets for the savvy investor to capitalize upon. These new markets, however, are still heavily tied to the progress of main currencies like Bitcoin and Ethereum. So when these markets took a hit last quarter, so too did the altcoin market descend into a spiral of depreciating values.
Despite the crazy gloom saturating this bear market, there still exist reasons to be largely optimistic. Institutional and even governmental interest in cryptocurrencies and blockchain technology has incentivized the development of new and exciting tech in a variety of sectors, facilitated in no small part by the grass-roots startup campaigns that created the demand in the first place.
Top Cryptocurrencies in 2018
A few cryptocurrencies have been able to survive the crash with little, or even no, damage to their reputation or price. During the cryptocurrency winter of 2018, here are the currencies that seem most likely to survive the storm.
When Ethereum’s community had a disagreement regarding how to respond to the controversial decision to not reverse the transactions resultant from the massive hacking of the DAO in 2015, they elected to do a fork. This means that Ethereum split into two separate blockchains, Ethereum and Ethereum Classic. While the former has consistently held its spot as the second most popular cryptocurrency, the latter had faltered significantly in the past year.
But 2018 has been good to Ethereum Classic. Its listing on Coinbase Pro inspired a rally, the currency reaching a price per unit of around USD $16.
EOS hosted the most profitable ICO in the history of the fundraising industry, winning over USD $4 billion in investor support. The company is referred to as “Ethereum killer,” because its network is projected to be more effective and popular than Ethereum.
The currency grew significantly in price in March, and continues to ascend the ladder of the most popular and valuable cryptocurrencies to own.
BAT (Basic Attention Token)
Basic Attention Token distinguishes itself from the other coins on this list because, unlike the others, BAT was not intended to be a token only used for trade and for profit. The Basic Attention Token is the lynchpin of the BAT ecosystem, which is a real-time advertising economy. The Basic Attention Token is distributed to the creators of content on popular platform in exchange for making effective and popular content.
The platform is incredibly popular. In 2018, it claims over three million current, active users, making it one of the most promising online advertising services and ecosystems on the blockchain.
Of all the coins on this list, Stellar might have the most die-hard and committed user-base. The Stellar network is a platform meant to provide financial services to people all over the world that do not have access to traditional banking services. To many within the cryptocurrency market, the ICO is known as a version of Ripple without the commercialization.
XLM sits at the seven-spot for the top ranked currencies in the cryptocurrency industry.
BNB (Binance Coin)
Binance Coin is the final currency on this list, and it’s likely to be the closest thing to a “sure bet” on the cryptocurrency markets. The Binance Coin is the native currency of Binance, an international centralized cryptocurrency exchange market. The currency is used commonly because of its implementation on the Binance website; using it gives users discounts on exchange fees and rates.
Binance Coin managed to see minimal losses during the worst of the crypto winter, and it continues to climb in price relative to participation in the Binance market.