VANCOUVER, BC – With virtual currency advertisements being banned by many companies today, a Ripple (XRP), Cardano (ADA), and NEM (XEM) performance analysis was conducted to identify the biggest loser since the start of 2018.
The cryptocurrency industry is going through major setbacks with a number of coins plummeting in the first quarter of 2018. The future of cryptocurrency is now questioned, and while it cannot be answered yet, its current status can be spotted right on.
According to CoinMarketCap, only two coins managed to progress at the onset of the year – Binance Coin (BNB) and VeChain (VEN). BNB grew at approximately 41%, making it the coin with the highest growth by far.
The largest losers to date are NEM, Cardano, and Ripple with only a minimal difference separating them. Ripple lost at least 78.55% from the beginning of the year, while Cardano came pretty close with a percentage loss of 78.63%.
Ripple actually started to decline at the beginning of the year and has continued to do so. The CEO of Ripple (XRP) believes in working within regulations, and while it made a sound argument, investors didn’t buy it, leading to Ripple’s extreme regression.
A closer NEM (XEM) performance analysis shows that this cryptocurrency coin’s loss can be most likely attributed to the January Coincheck heist wherein NEM coins were stolen from various accounts. However, it was revealed that NEM was already acquiring losses even before the robbery occurred.
Cardano started off quite well at the beginning of the year as investors were looking for new and growing projects. The virtual currency traders’ fear of missing out on this new crypto breed led to a gain of about $1.27 in January before it declined at about the same date. Once investors saw that Cardano wasn’t progressing as expected, they began to panic and pulled out their investment.
Patience is indeed a virtue necessary when getting into the cryptocurrency industry. Losses occur, and percentage gains will not happen overnight. People have to understand that investing in crypto coins requires a long-term commitment.
To keep track of the top crypto losses for the first quarter of the year, look into the Ripple (XRP), Cardano (ADA), and NEM (XEM) performance analysis.