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Breaking News: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?
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Breaking News: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?

The Great Crypto Shuffle: How 2017’s Top 100 Coins Fared In The Rollercoaster Market

Samuel Edyme
Samuel Edyme
1 year ago
3 mins read
ETH/BTC Signals the Next Altcoin Explosion

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A recent analysis by an analyst has painted a clearer picture of just how volatile the crypto market has been, especially for those who took their chances on lesser-known altcoins a few years back.

The analyst studied the top 100 cryptocurrencies as they stood in December 2017 and found that the fortunes of these digital assets varied significantly over the past six years.

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From Prominent To Obscure: The Rise And Fall Of 2017’s Crypto Stars

Six years in the financial world is relatively short, but it can seem like an eternity for the fast-paced crypto market.  An X (formerly known as Twitter) user named davanai shared his analysis of the top 100 cryptos in 2017, revealing some startling figures.

Out of the top 10 cryptos, New Economic Movement (XEM) is the only one that has dropped out of the top 100 list. On the other hand, previous giants like Monero and Dash are teetering on the brink of exiting the elite group.

Amid these declines, the twin towers of the crypto world, Bitcoin (BTC) and Ethereum (ETH), have held their positions at 1st and 2nd spot, respectively. XRP, among the most discussed cryptos in the 2017 bull run, has slipped only slightly to the 5th position.

Bitcoin (BTC) price chart on TradingView amid crypto analysis
Bitcoin (BTC) price is moving sideways on the 4-hour chart. Source: BTC/USDT on TradingView.com

Cardano (ADA), too, while losing two spots, remains in the top ten. However, not all stories are of resilience. Populous Coin (PPT), once the 19th largest crypto, is now a shadow of its former self, trading at 99.97% below its all-time high.

Distinguishing The Winners From The Losers

Interestingly, the analyst classified 27 of the top 100 cryptocurrencies as “scams”. While this doesn’t directly confirm any deceit, these digital currencies have nearly vanished in terms of market presence and activity.

Out of the top 100, just 21 achieved record highs during the initial three months of 2021, while 68 remain below their highest valuations from 2017 or “almost a scam,” according to the analyst.

Research statistics:

🟢 5 of 20 are worth more than ATH 2021
⚫ 27 of 100 SCAM project
🔴 68 of 100 are below ATH 2017 or almost a scam

🟢 21 of 100 updated ATH in 2021
🔴 79 of 100 will never update ATH

— davanai👻 (@0xdavanai) October 2, 2023

On the brighter side, three altcoins have climbed up in their rankings since 2017. Binance Coin (BNB), Chainlink (LINK), and Dogecoin (DOGE) have defied the broader trend, proving that it’s not all doom and gloom in the altcoin world.

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Ethereum’s Price Vs. Bitcoin: Can Upcoming ETH Futures-Based ETFs Turn The Tables?

1 year ago

The findings provide a cautionary tale for crypto investors. As the analyst pointed out, purchasing the top 100 cryptos would likely result in losses over time. As traditionally understood, diversification may not apply in the high-stakes world of crypto investing.

• You should buy altcoins with a clear understanding of the situation, and not relying on luck

• Don’t listen to fables about diversification, because only 3 out of 100 tokens are profitable in the long run

• Cryptocurrency profitability is about mindset and strategy

— davanai👻 (@0xdavanai) October 2, 2023

Featured image from Unsplash, Chart from TradingView

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Samuel Edyme
Samuel Edyme

Samuel Edyme

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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