Despite The Monster Rally Of Q2, These 7 Top Altcoins Still Down Over 90% From ATH
So, the quarter 2nd of 2019 has come, scored new highs and gone. This has been the quarter that took Bitcoin above $10,000 level.
The leading cryptocurrency made new highs of 2019 and started the bull rally. This quarter also marked the end of crypto winter and moved into crypto spring.
This quarter has been that saw CME making new records in trading volume and open interest in Bitcoin futures. 24-hour volume on ten exchanges with real volume also registered a record $6 billion.
While some reached heights, others despite the greens are still heavily discounted.
Nothing Working for XRP Price for now
The first top altcoin is the third largest cryptocurrency that despite bagging a big partnership with MoneyGram is still 90% down from its all-time high at $3.84.
With just about 27 percent gains in the past 90 days, It's one of the worst performers of this quarter. The digital asset is currently trading at $0.39.
Nothing seems to be working for this cryptocurrency’s price but this factor might be why one could be bullish on XRP as many analysts are as the only way from here seems to be up.
The Bitcoin hard fork is not seen anywhere in the market currently, no news, no developments except for the “FUD” that it only has seven core developers left with no funds.
BCH is only doing one thing, that is following Bitcoin and that too poorly.
While BTC is down 47% from its ATH of $20,000, BCH is still 91% away from climbing to its previous peak of $4,329.
Highly Anticipated Shelley Testnet Came But Nothing for ADA
Cardano made a huge development by release a major milestone, Shelley testnet. On June 21st, the testnet went live that provides users and developers a way to experiment with staking.
However, this top altcoin is down the most by 94%. Currently, it is trading at $0.0835 and has to climb to $1.33 level to achieve a new ATH.
Tron, Stellar, & Zcash Just 1% Shy of a 90% Deal
Both TRX and XLM are down 89 percent from their all-time high at $0.30 and $0.938. At the time of writing, TRX has been trading at $0.0319 and XLM at $0.104.
Just like any quarter, this quarter has been a happening one as well for Tron. From Tron founder winning a charity lunch with Warren Buffett, achieving new highs in dapps, transactions, and block height to introducing Sun network, Tron saw a lot of development which is ignored by the price.
Stellar is the worst performer of the quarter second that registered negative returns not only in this quarter but also in 2019.
Down by 89 percent as well, Zcash has its reward halving coming next year but is currently trading at $99.
Recently, the Electric Coin Company the firm behind Zcash shared its intention to build a new scalable blockchain. Zcash developers want the cryptocurrency to service 10 billion people in the coming three decades for which it is considering whether or not to implement sharding.
IOTA is “Going to be everything”
Down 93% from its peak at $5.69, MIOTA is currently at $0.392 and one of the worst performers of this quarter.
All this has been despite the cryptocurrency acquiring partnerships with the likes of Jaguar Land Rover.
Just recently, in an interview, founder Dominik Schiener shared his vision for the cryptocurrency,
“IOT is going to be everything. Everything will be connected. Everything will be smart, and everything will need to be able to transact with each other.”
Altcoins usually follow Bitcoin’s lead and at a much faster pace but this time the crypto king didn’t give them any chance to come out and shine. With the crypto community waiting for the altcoin season, it needs to be seen, which one of these will reach closest to their ATH.