Ethereum Classic

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a> 
 </figcaption> 
</figure> 
Pseudonymous cryptocurrency enthusiast who goes by @0xdavanai on X analyzed the performance of assets that were on the top 100 largest crypto list by market capitalization in December 2017. Based on his analysis, he demonstrated why diversification might not be a smart bet by default. 
<h2 id="only-21-cryptos-exceeded-their-2017-highs-in-2021-data">Only 21 cryptos exceeded their 2017 highs in 2021: Data</h2> 
In the last six years, one asset from CoinMarketCap's Top 10 - New Economic Movement (XEM) - left the first hundred on the ratings list, while two other former large caps (Monero and Dash) are very close to being outside of the top 100. Such calculations were made by X user @0xdavanai based on data on assets' prices registered at the time of the 2017 Bitcoin (BTC) all-time high. 
<blockquote> 
 I analyzed the TOP 100 CMC from ATH 201740 hours of analytics in 5 minutes🧵👀👇 <a href="https://t.co/7gWwmDFszo" rel="noopener noreferrer nofollow">pic.twitter.com/7gWwmDFszo</a>— davanai👻 (@0xdavanai) <a href="https://twitter.com/0xdavanai/status/1708858418361143509?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 2, 2023</a> 
</blockquote> 
Predictably, Bitcoin (BTC) and Ethereum (ETH) remained the #1 and #2 cryptocurrencies by market capitalization. XRP, one of the most overhyped cryptos of the 2017 run, only lost one position and is now ranked #5 on CMC's top list. Cardano's native token ADA performed similarly, as it only lost two positions and landed in eighth place. 
Within the former top 25 are also terrible stories of painful dropdowns. For instance, Populous Coin (PPT), which was ranked #19, is now changing hands 99.97%, below its ATH, already ranked in the two thousands in the ratings. 
Twenty-seven cryptocurrencies from the top 100 list were marked by the analyst as a "scam". At the same time, these cryptos are not necessarily parts of confirmed scam campaigns. All of them, however, lost all traction, showing zero signs of activity. 
Also, only 21 cryptocurrencies - including the largest ones - managed to print new all-time highs in Q1, 2021, the analyst concluded. Sixty-eight cryptos are trading below their 2017 highs as of press time. 
<h2 id="three-altcoins-from-2017-s-top-100-in-green-see-full-list">Three altcoins from 2017's top 100 in green: See full list</h2> 
Only three altcoins managed to improve their positions compared to their 2017 rating: Binance Coin (BNB), a core native cryptocurrency of Binance's ecosystem, Chainlink (LINK), a core token of pioneering decentralized oracles infrastructure, and Dogecoin (DOGE), the first-ever memetic cryptocurrency. 
As a result, "spray and pray" might not be the best "lazy" strategy for retail investors, especially for mid-cap altcoins: 
<blockquote> 
 Even if you buy all of the top 100, you will mathematically lose in the long run, your profit will not cover your losses (...) Don't listen to fables about diversification, because only 3 out of 100 tokens are profitable in the long run. 
</blockquote> 
As <a href="https://u.today/these-altcoins-from-2017-and-2018-are-back-from-the-dead-and-no-one-knows-why" rel="noopener noreferrer nofollow">covered</a> by U.Today previously, in Q1, 2022, some altcoins from 2017-2018 suddenly jumped: holders of ZCash (ZEC), Eos (EOS), Bitcoin Cash (BCH), Dash (DASH) and Ethereum Classic (ETC) managed to gain from their five-year-old bags.

Top 100 Cryptos of 2017: 27 Scams, 79 Will Never Update ATH, Analyst Says

목차

U_Today

2023년 10월 3일에 게재된 다른 기사

Validation Cloud Achieves SOC 2, Bringing Enterprise-Grade Infrastructure To Web3 (3 Oct)

Breaking News: Explosive Token Unlocks Coming This Week – How Will Prices React?

Machine learning algorithm sets SHIB price for October 31

FBS Unveils Best Day Trading Strategies for 2023

Report Sheds Light on Altcoin Movement Amid Bitcoin's Price Volatility

Zookal Unveils Cutting-Edge Exam Preparation Program

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!