2018 has been a difficult year for digital currency investors as the market is down substantially from its all-time highs. Nonetheless, some cryptocurrencies have outperformed their peers and managed to generate a return on investment for their holders.
Here’s a list of the best performing digital currencies and tokens of 2018. (All data is from CoinCodex.com.)
Why Are Only So Few Digital Currencies and Tokens in the Green?
Bitcoin, and with it the rest of the digital asset market, had an incredible run in 2017, which peaked with an all-time high for bitcoin of over $20,000 in mid-December while most major altcoins hit their all-time highs a month later in mid-January. Since that aggressive rally, the market corrected throughout 2018.
Year-to-date, the price of bitcoin is down by over 50 percent and altcoins are down by 70 to 80 percent on average. Since the altcoin market follows bitcoin, it is to be expected that the majority of the market will be in the red if bitcoin does not perform.
While these figures may scare off investors who are just now exploring this new digital asset class, this market correction needs to be understood in perspective. In 2017, bitcoin generated an ROI of over 1,600 percent while leading altcoins, such as Litecoin, Dash, and Monero, rallied by several thousand percent.
Moreover, if you had bought bitcoin exactly a year ago, you would still be in the green by 20 percent.
Related Articles:
- Best Dividend-Paying Altcoins and Cryptocurrencies 2019
- Best Privacy Coins, Rated and Reviewed for 2018
- Best ERC20 Tokens, Rated and Reviewed for 2018
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