There is a lot more to cryptocurrency than just Bitcoin and Ethereum. Thousands of alternative markets try to captivate an audience. Of the top altcoins ranked by overall market cap, the following projects performed well below expectations in 2019.
The year 2018 has been incredibly brutal for all cryptocurrencies. When Bitcoin dropped to roughly $3,000, the alternative markets – or altcoins – simply could not stop the bleeding either. It has resulted in very low prices across the board. Most of the markets still try to recover from this onslaught, yet not all of them succeed in this regard.
#1 Stellar (-66%)
The “worst-performing” altcoin in 2019 so far comes in the form of Stellar, or XLM. It has lost over 66% in value over the past year, indicating this market is still trying to catch is breath in 2019. Some recent market developments have allowed the currency to regain some lost value, yet putting a sustainable stint together remains elusive.
#2 NEM (-55%)
It is very intriguing to see how some of the top performing assets in 2017 continue to struggle following the 2018 “crypto winter”. NEM, or New Economy Movement, is one of the more apparent examples in this regard. Despite solid price progress throughout 2017, most of those gains have been wiped out in 2018 and 2019. To this date, the currency is still down by over 55% compared to early November 2018. Not a sight to behold for long-term holders and speculators, but there isn’t much one can do about the current state of events.
#3 Dash (-52%)
Masternode cryptocurrencies often tend to appreciate in value as time progresses. This is primarily due to their circulating supply being locked up in the nodes powering the network. Dash hit a peak value of over $1,200 in 2017, yet it has suffered significantly ever since. Even in 2019, there hasn’t been too much headway for this particular altcoin. Dash is still down by over 52% compared to November last year, with little improvement in sight.
#4 Bitcoin Cash (-50%)
The highly-touted “better version of Bitcoin” is struggling to live up to people’s expectations. Not just due to overall development but primarily in the price department. As the forked version of Bitcoin has lost another 50% of its value in the past twelve months, there is not much to be excited about just yet. This situation can still turn around with relative ease, but for now, the outlook is rather bleak.
#5 IOTA (-44%)
A cryptocurrency and blockchain project focusing on the Internet of Things should, in theory, be of great interest. Such were the expectations among cryptocurrency speculators regarding IOTA. The past twelve months have shown overall interest in this currency has calmed down significantly. A net 44% loss in value over the course of a year shows there are rough times ahead for most altcoin markets, including IOTA.