Crypto crash: Top 10 coins nose-dive an average 24.64% in a day
finder analyzes the top 10 cryptocurrencies over their biggest decline in months
In 2017, cryptocurrency main players like Stellar Lumens (XLM), Ethereum (ETH), Ripple (XRP) and bitcoin (BTC) appeared to rocket upward in value, showing no signs of slowing down. Fast-forward to January 16, 2018 — the day cryptocurrency crashed, dramatically changing its value perspective in one day.
We’ve analyzed the top 10 cryptocurrencies by market cap, reviewing their movements over the past 5 years.
Value changes of the top 10 cryptocurrencies from January 15–16, 2018
| Cryptocurrency | Percentage change from January 15 to 16 | Price per coin as of January 16 |
|---|---|---|
| NEM (XEM) | -31.84% | $0.95 |
| IOTA (MIOTA) | -29.31% | $2.46 |
| Ripple (XRP) | -28.57% | $1.20 |
| Stellar (XLM) | -28.39% | $0.43 |
| Bitcoin Cash (BCH) | -26.45% | $1,766.35 |
| NEO (NEO) | -24.16% | $142.14 |
| Cardano (ADA) | -21.80% | $0.60883 |
| Litecoin (LTC) | -19.28% | $187.90 |
| Ethereum (ETH) | -19.22% | $1,043.66 |
| Bitcoin (BTC) | -17.37% | $11,418.70 |
| Average total change | -24.64% |
Source: finder.com, CoinMarketCap
Of the top 100 cryptocurrencies, only three entered the market on January 16, 2018, without a decrease in value. In just 24 hours, 10 coins leading the pack in market cap fell by an average 24.64%. Bitcoin‘s value dropped to $11,418.70 — a 17.37% decrease for the day and its lowest value since December 4, 2017. For BTC, this is the ninth-biggest plunge its seen in one day since 2013. Stellar Lumens closed out the day at $0.43, sinking its value by 28.39% — its second-hardest fall.
But NEM (XEM) and IOTA (MIOTA) took the biggest hits. Priced at $1.39 on January 15, NEM slid 31.84% to $0.95 the following day, resulting in the largest dip it’s seen since launching March 31, 2015. IOTA took its third-biggest nosedive in 24 hours since created on June 11, 2016, falling by 29.31% to a value of $2.46.
The virtual money market continues to prove its unpredictability, prone to turning on a dime. When considering a speculative investment like cryptocurrency, weigh the pros and cons before investing your real money. Research the market while remembering that past performance doesn’t necessarily reflect future movement.
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