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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.
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.