Altcoin Extinction: Which Assets Survived the Bear Market with the Least Losses

After the latest crash in altcoins, the scale of losses since all-time highs paints a dramatic picture, but a handful of assets stand out.

Altcoins have shown they are much more speculative and volatile compared to Bitcoin - but the latest crash was the most panic-inducing during the protracted bear market. However, a few distinct groups of altcoins have formed, based on losses since their all-time high.

Based on data by Onchainfx.com, losses can be categorized in three rough groups. The most dramatic one is where losses are above 90%, or even above 95%. This level of losses means an asset has lost around 80% once, and then another 80% from the already depressed price.

Such losses, especially for those that bought at the peak, can be a personal financial disaster. Unfortunately, some of the high-profile altcoins fall into this category. XRP, the digital asset of the Ripple project, is currently down 93% from the peak, despite the recovery this Wednesday. Cardano (ADA) is in the same boat, down 93% from its peak, to $0.09. MIOTA, at $0.46, is down 92% from its peak.

For almost all coins, purchases at the peak prices never stopped, based on expectations of a constant price rise.

There is another group of coins, losing between 80 and 90% of their value. EOS, despite the criticism, is down 80% from its peak. One of the factors that saved EOS was that its price was never pumped to the expected peaks of around $30 to $50, as predicted. Instead, EOS stalled at around $24, and currently trades at $4.59.

Other assets that lost between 80% and 90% of their value include Bitcoin Cash (BCH) with 88%, DogeCoin (87%), and token projects like OmiseGo (OMG). This is the most widespread category of losses.

The next batch of coins have fared a bit better, losing between 70% and 80% from the peak. Stellar Lumens (XLM) is in that category, with a loss of 77%. Decred (DCR) is down 70% from its peak, as its growth was stemmed around $100, never reaching the $300-$500 valuations predicted. Ethereum Classic (ETC) lost around 75%, supported by the expectations of a Coinbase listing.

The loss of Bitcoin (BTC) is 68% net since the peak at $19,600. BTC has gained around 58% since August last year.

Then, there are coins which seem to have avoided the category of irrational exuberance, and their slide is much lower. VeChain (VET) unraveled quickly, and sees increasing pessimism, but is still down just 48% from its peak. This may be either ascribed to resilience, or the fact that VET has a long way to go yet. Binance Coin (BNB) has slid by 56% net since the peak, supported by active trading.

Traders have noted that the bear market has affected altcoins to a greater degree.

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The biggest fear now is that for many altcoins, their performance may end with a “capitulation candle”, as the price drops on panic selling with no buying support.

In the world of crypto opinions vary as to the need for altcoins. The great enthusiasm for any and all projects lifted prices to extraordinary levels, and raised questions if those projects were valuable enough.

Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.