The top 5 monthly performers have changed quite bit over the last 3 years, we analyzed 30-day returns for the current top 200 cryptocurrencies (by market capitalization) and analyzed some of the top performers
A notieable change since the 2017/2018 bubble is the decrease in the average traded volume. Looking over the past three years, we observed that both the top 200 cryptocurrencies (blue) and the top 5 (orange) have experienced roughly a 50% drop in average daily volume since last year. The chart also demonstrates that the popping of the bubble began the process of cleaning out crappy / fraudulent protocol (note, I said started, still a long way to go). The top 5 crypto’s percent of total trading volume crept back up since last year, indicating money was moving out of riskier assets due to increased investor attention to detail, regulatory pressure, and other industry factors.
While it is too soon to call a bottom to the issue of volume, the average figures seem to indicate some trading stability is returning . It is also the first time that the average trading volume increased relative to the last quarter. While this could also be associated with trading behavior exhibited towards the end of the year, exchanges are fighting tooth and nail to avoid looming interest rate hike implications and competing to be the best offering.
The table below shows the top 5 performers on a monthly basis for the same period:
Based on the chart above, the top 10 performers were as presented below. The top performer was defined as any monthly ranking in the top 5 chart above.
|Ticker||Top 5||Cryptocurrency Name||Mission|
|GRS||9||Groestlcoin||Instant & private transactions|
|RDD||8||Reddcoin||Easier to use for general public|
|PIVX||7||PIVX||Instant & private transactions|
|XVG||6||Verge||Instant & private transactions|
|UBQ||5||Ubiq||Payment + decentralized platform|
|DASH||4||Dash||Instant & private transactions|
|REP||4||Augur||Decentralized prediction market|
Notably, some of the top performers include coins focused on instant & private transactions. The top 10 performers include only 1 crypto was not focused on payments or broad platforms – Jack Peterson and Joey Krug‘s Augur. As utility token companies begin to deploy the insane amount of capital raised for their projects, we may see the successful projects begin to creep up on these charts. Given the recent boom-and-bust raised the eyebrows of institutional players, we can expect decent market trials and venture-esque projects to provide further insight on future winners and losers.
The often volatile nature of the industry may be quelled by current attention on fomenting stability. The market’s competition on establishing a stablecoin provides additional evidence that capital is getting smarter and key players are finding ways to take advantage of other emerging technologies (e.g., AI/ML, edge computing, virtual/augmented reality, etc.). The above charts illustrate investors may be consistently reward certain industry segments and protocol. However, as always, it is important to keep tabs on all of your names and keep a diversified portfolio – even historically successful names like Bytecoin may potentially be worth $0 at any time.