Bidding Adieu to 2018, Here’s a Look Into Some of the Popular Altcoins For the Upcoming Year
2018 has been a very rough year for cryptocurrency enthusiasts, especially after the historic bull run of 2017. Bitcoin and all the other popular alt coins have faced a heavy bashing with their valuations collapsing by more than half since the start of 2018. Moreover, there have been several cases of frauds and hacks which made a dark spot on the crypto marketplace which has dampened down the interest of retail investors.
Currently, Bitcoin is trading sub $4000 levels with its market cap at just $66 billion. The overall cryptocurrency market cap has been cut down by more than 85% since its all-time high above $800 billion. Currently the overall crypto market cap is $120 billion at the press time, as per our data on WordCoinIndex. This shows that Bitcoin still continues to dominate over 50% of the crypto market.
Apart from Bitcoin, the performance of the altcoin space has been even more bad. The last year’s most celebrated altcoins like Ethereum, XRP, Litecoin, Bitcoin Cash have gone through a very bad phase.
However, not everything that has happened in the cryptocurrency market was disappointing. This year we saw some of the quality blockchain projects getting their due recognition. Although the price of these alt coins might have dropped considering the market slump, these projects have progressed when it comes to their technology development. These alt coins can prove to be a good investment opportunities in the upcoming year.
Stellar Lumens (XLM) is one such project which has witnessed an exponential growth in its project visibility throughout the year. With the relative index methodology that compares a altcoin that compares a alt coin with bitcoin’s relative performance, Stellar emerges as the best performing altcoin.
Ethereum competitor EOS has managed to hog a lot of limelight this year with many crypto project considering to shift their base on the EOS blockchain network following the ongoing scalability issues of the Ethereum network.
Privacy token Zcash (ZEC) is gaining enough popularity while making its privacy capabilities better. This token has also received much appreciation from major financial institutions like JPMorgan and Quorum platform. Zcash (ZEC) is slowly turning out to be a popular choice of investors and has shown the potential to rise higher quickly if the crypto market supports the bullish momentum.
IOTA (MIOTA) has shown a significant recovery during the mid-December short term rally in the crypto market. Over the last year, IOTA has strengthened its partnership with auto companies while also making inroads in the manufacturing sector through its partnership with Fujitsu. IOTA has also made a significant progress in its wallet infrastructure and continues to move towards full decentralization.
One who still continues to believe in the bright future of the crypto market, need to closely observe the performance of the above mentioned altcoins as they can provide multi bagger opportunities in the coming year.