These Coins Were Positive While Bitcoin (BTC) Tanked 35%
Dec 21, 2018
- Cryptocurrencies began a harsh sell-off on November 14th, 2018 that sent prices spiraling for a month with Bitcoin (BTC) falling 49.1% to USD$3,236.76 as of December 15th's close. On Monday, December 17th, crypto prices reversed and began to rally, however, the price of BTC is still down 35.0% since November 14th as of yesterday’s closing price of USD$4,134.44.
- As can be seen in the charts below, only 4 cryptocurrencies that trade among the top 100 coins by market capitalization remained positive through the short-term market downturn:
- Waves (WAVES), the underlying token of the Waves Platform, has returned 143.6% since November 14th, appreciating from USD$1.72 to USD$4.19 as of yesterday’s close. Waves developers recently announced that the project reached its fundraising goal, driving the coin's price appreciation.
- Revain (R), which aims to offer a blockchain platform that hosts unbiased and genuine business reviews while using IoT and AI to prevent fake reviews, is up 9.28% since November 14th from USD$0.19182/token to USD$0.20963/token as of yesterday’s close.
- Two stablecoins have proven to be a consistent store of value since the sell-off began on November 14th:
- Tether (USDT), the world’s largest stablecoin, has appreciated 3.54% since November 14th, increasing from USD$0.98512/token to USD$1.02/token, above its US dollar-peg.
- Dai (DAI), another notable stablecoin, has proven to be just that since the cryptocurrency sell-off began on November 14th, remaining flat and trading at USD$1.02.