-78% of Capitalization: The State of the Crypto Market in 2018
Last year was incredibly challenging for the cryptocurrency market. The bears "knocked out" the bulls, and all the top cryptocurrencies lost from 70% to 90% and more their value, according to the CoinGecko's annual report.
The total capitalization of the cryptocurrency market in 2018 decreased by 78.8%.
All the top cryptocurrencies significantly lost in price. For example, BTC collapsed by 73% last year, the price of Ethereum plunged by 82%. The absolute champion in price fall is Bitcoin Cash. BCH depreciated by 93% last year. This was helped not only by the general state of the market but also by a feud among the developers of BCH, as a result of which the cryptocurrency split into two coins.
Despite the price fall, trading volumes on exchanges grew. According to CoinGecko, this was facilitated by the emergence of new exchanges. Also, some trading platforms actively offered trading without mining transactions fees, which “warmed” the volumes. As for the last quarter of 2018, the Korean Bithumb turned out to be the largest crypto exchange. On average, its daily trading volume stood at $1.4 billion.
Hackers were also incredibly active last year. The attackers managed to steal more than $867 million in 2018. This is 50% more than in all the years of cryptocurrencies existence combined.
Last year, the number of successfully ICOs more than doubled, and by the end of the year, it amounted to 943 projects. Together they managed to raise $16.5 billion. Although in 2017 the sum stood at $5.6 billion. But the yield of tokens was negative last year. On average, the token returns were -67%.
CoinGecko full report: