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LTC Price Predicted to Keep Rising After Sparking Crypto Spring — Five Positives from Litecoin
LTC Price Predicted to Keep Rising After Sparking Crypto Spring — Five Positives from Litecoin

Annual Market Cap Report: BTC and ETH in Decline, XRP Fighting Back

  • Alexander Goborov

    As this year’s fourth quarter is almost through, the annual market cap stats are in: while Bitcoin and Ethereum are in real trouble, Ripple is actually doing better

Annual Market Cap Report: BTC and ETH in Decline, XRP Fighting Back
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Contents

This year has been one big crypto drama unfolding before the eyes of those who have anything to do with the world of Blockchain. It started as the December 2017 Bitcoin bubble was coming to a pop, followed by a period of gradual recession, then stagnation, and finally a sharp dive towards the end of 2018, ironically, the scandalous finale being the exact opposite of the situation from twelve months ago.

But not everything is a gloomy as it might seem, for there are, it turns out, some winners here after all, and not just among devious traders, but, more interestingly, among the crypto coins themselves.

So, let us have a closer look at the latest market cap stats from this year, organized quarterly. This analysis was conducted independently and in the following way: daily market cap figures were collected, then manually turned into monthly averages, and finally into quarterly means. The three current leaders were examined: Bitcoin (BTC), Ripple (XRP), and Ethereum (ETH). Here is the end result:

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1st Quarter

The first quarter of 2018 started well for everyone. Bitcoin was at around 177.5 billion USD, Ethereum at over 66 billion USD, and Ripple at over 46.5 billion USD. The difference between BTC and the other two was vast; the difference between ETH and XRP was minimal.

2nd Quarter

In the second quarter, there was a decline for everyone. Bitcoin dropped to around 140 billion USD, Ethereum to around 60 billion USD, and Ripple to around 27 billion USD. Because BTC’s drop was not yet its biggest (21%) and ETH’s was the smallest of all three (9%), it was XRP that suffered the most: it dropped almost 42%, and the gap between ETH and XRP increased substantially from the first quarter.

3rd Quarter

The drop continued. Bitcoin fell to around 117 billion USD, Ethereum to around 34 billion USD, and Ripple to around 16 billion USD. BTC’s decrease of 16% was not as heavy as in the second quarter, while XRP’s rate of decline remained the same (around 41%). In this quarter, it was ETH that lost a great deal of vitality: its grip on the market decreased by almost 44%, which led to a less pronounced gap between ETH and XRP.

4th Quarter

This quarter is comprised of the months of October, November, and December. While the figures were obviously heavily influenced by the more recent events, these are, of course, quarterly aggregate averages which are meant to reflect an overall situation this year. As a result, the figures from Q4 differ from today’s averages of 71 billion USD (BTC), 15 billion USD (XRP), and 12 billion USD (ETH) by the very nature of this statistic.

So, in this final quarter of 2018, Bitcoin dropped to around 90 billion USD (23%), Ethereum fell to around 16 billion USD (a nosedive of 53%), and XRP actually rose to around 17 billion USD (6%). Ripple’s comeback was possible thanks in parts to XRP’s performance earlier in the fall, and in parts because of BTC’s violent plunge in November which gave XRP a sudden boost from investors and traders alike. Consequently, the gap between BTC and the other two market leaders became proportionally larger, and XRP overtook ETH as the second most valuable currency in the world.

Conclusion

The general trend has a very logical feel to it. At this point, there are two main scenarios: further down or back up. Whichever one prevails is unclear. What is clear, however, is this:

1) The values of major coins (both market cap and price) will in any case, sooner or later, see their former glory and probably even surpass previous records;

2) Unless Ethereum futures become a major game changer, Ripple may prove to be an unbeatable rival for Ethereum to claim back its position as the second most valuable cryptocoin;

3) Such new trading features as Bitcoin Exchange-Traded Funds, which are pending approval by SEC and now gaining in popularity, and security tokens may just alter the crypto landscape so drastically that all other predictions could become largely inadequate in the long run.

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LTC Price Predicted to Keep Rising After Sparking Crypto Spring — Five Positives from Litecoin

  • Jack Thomas

    🌱☀️Litecoin has been one of the best performing cryptocurrency assets in the first quarter of 2019, and there are a few reasons why it is boosting the crypto spring. From its impressive mainstream adoption, and with its speedy and cheap transactions, as well as added privacy and impending halvening, the price of LTC is set to do well

LTC Price Predicted to Keep Rising After Sparking Crypto Spring — Five Positives from Litecoin
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It would be wrong to call the cryptocurrency bear market over – the same low-performing market that has lasted well over a year now – however, there certainly is a change in the air. Bitcoin is over $4,000 and other altcoins have flexed their muscles, but none more so than Litecoin.

Litecoin, the fourth-biggest coin, which is currently trading at $60.52, has doubled its value in the first quarter of 2019, having started the year at $30.29. This coin, dubbed the silver to Bitcoin’s gold, has made some significant strides heading into the cryptocurrency spring.

The cryptocurrency spring, which is seeing prices in the market slowly come right and rally again, may have well been helped get off the ground thanks to Litecoin’s good performance through these first three months.

Many have dubbed this crypto spring as the beginning of altcoin season, and with that, there have been some big boosts from the top 20 altcoins that have aided in bringing positive sentiment to the market – none more so than Litecoin.

Reasons for the boom

Litecoin has always been in the shadow of Bitcoin, but it was created to be something different, much more of a cash system. It is this direction that is starting to be evident with Litecoin’s movement as the coin looks to forge ahead.

Reasons for the boom

One big boost for Litecoin has been its mainstream adoption that has picked up significantly with the goal of the coin’s team to get the cryptocurrency into payment systems. For example, Bob Moore Auto Group has signed on with Aliant Payment to accept Litecoin at their dealerships, starting with an Oklahoma City location. This means customers can buy a Subaru with LTC.

Additionally, Litecoin has always been about having fast transaction times as well as low fees in order for it to be usable as a digital cash, and the way things are going currently, it is hitting those attractive targets.

For instance, a November 2018 transaction worth $62 million only cost the sender $0.50 in fees on the Litecoin network. And with these low fees teamed up with the scaling layer of the Lightning Network, there is not much slowing Litecoin down.

Litecoin is also looking to boost user privacy as the team believes it is something that is missing from both LTC and Bitcoin. The Litecoin Foundation announced last month a collaboration with privacy coin Beam to potentially integrate the Mimblewimble protocol, which would add scale and privacy to the cryptocurrency.

Finally, the Litecoin halving is due soon, and historically, this kind of event has always been a catalyst for further growth and rallies in the cryptocurrency. The last one in August 2015 saw a serious downturn be broken, and even in the run up to this halvening, there looks to be a break in the downturn already.

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