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

Samuel Edyme

1 year ago

3 mins read

ETH/BTC Signals the Next Altcoin Explosion

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.

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.

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.

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

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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.