This year there were very few profitable Altcoins. Bitcoin has won the race clearly, and while some of the Altcoins perform better, many of them dropped always stands still solid of your annual maximum.
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The worst year for Altcoins?
A recent Longhash report has taken a look at the past performance of Altcoins this year, and has this rated anything other than positive. Some crypto-Assets have developed as compared to the USD or Tether well, but were beaten by Bitcoin.
Even with a decline of 25 percent from the peak in 2019, Bitcoin has the market capitalization still not lose. The dominance has increased throughout the year, steadily and currently stands at just 70 percent, which is still a two-year high.
The report takes a look at some of the oldest Altcoins, as well as some new ones. Both the 2018 as well as 2019 recorded Altcoins in comparison to BTC losses.
The volume is a great indicator of what Altcoins are still actively traded. In the last 24 hours, Bitcoin and Ethereum nearly half of the total traded crypto-volume, indicating a significant decline in demand in the Altcoin-market.
A similar measure, which we have reported yesterday, is the amount of the collected transaction fees. Also, at this point, Bitcoin and Ethereum have miles and miles ahead of the competition. The On-Chain activity for Bitcoin provides the majority of the other Altcoins in the shadows. Even Ethereum, had this week a good run, can’t keep up with the king of crypto-currencies.
Pump and Dump
New entrants in the Altcoin scene as EOS and Tron saw its first FOMO-driven Pumps and then fall back abruptly, as Bitcoin continued its upward movement in the year 2019 Fort.
Longhash related to Litecoin, because this crypto-currency has had a brilliant Start in 2019, but shortly after the first half of the year had to lose. Even the Binance-Coin suffered from its peak this year at 40 $ a loss of around 50 percent.
The two worst Altcoins of the year, XRP, and Zcash, they even lost against the Dollar and especially against Bitcoin strongly to soil to date. Many of the Altcoins are no longer hold, so that only a small portion of the projects will be survive in addition to Bitcoin.
Text evidence: bitcoinis, Martin Young