October Crypto Market Review: Top 20 Cryptocurrencies Crushed

XRP, Bitcoin Money, Cardano, Iota, Neo, VeChain falling exhausting, Tron survives whereas Maker and 0x get well effectively.

For the eighth month this yr cryptocurrency markets have fallen. October has been no exception with a 9.four% decline in complete market capitalization. This has resulted within the lack of over $20 billion from cryptocurrencies in the course of the month. The Friday 12 month-to-month low to $197 billion was not as deep as September’s dip however very shut. On the finish of October markets have been at simply over $200 billion, down 75% from their January excessive. The downtrend continues to be very clear however the losses have grown smaller indicating that the underside might be shut.

Bitcoin misplaced floor in October, beginning the month at simply over $6,600 and ending it at $6,320. This four.5% decline is just not as unhealthy because it appears since BTC has held above the $6k degree for a yr now, except for a few fast bounces beneath it. It has come a good distance up to now ten years and a few stability is welcome.

October Crypto Winners

We’re calling Tron one of many crypto winners for October as a result of TRX ended the month the place it began at $zero.222 making it the primary altcoin within the chart to not have misplaced floor.

Maker additionally made it by the tumultuous month with a 21% climb from $495 to round $600 on the finish of October. Bitcoin Gold survived with no losses starting and ending the month at $26. 0x additionally made good points in the course of the month ending it 17% larger at $zero.767 from $zero.654 firstly.

Decred was one other survivor with no losses remaining at $39 on the finish of the month. Aeternity down in 30th spot additionally ended just a little larger with a 7% acquire over the month.

October Crypto Losers

Ethereum has misplaced 15% throughout October, beginning out at $232 and ending at $197. It’s ETH’s lowest ranges since July 2017 and no restoration seems to be coming simply but. Market capitalization is across the $20 billion mark with the world’s second largest cryptocurrency having misplaced nearly $four billion final month.

XRP has proven some promise in current weeks however that would not cease the general lack of 25% from Ripple’s native token. XRP ended the month at $zero.44 after beginning October very near $zero.60.

Bitcoin Money has additionally been bashed throughout October with a 21% decline from $534 to $422. And EOS, rounding out the highest 5, has not escaped the bears both. A 10% slide noticed EOS fall from $5.78 to $5.20 in the course of the month.

The normally secure Stellar additionally ended October in ache falling 15% from $zero.26 to $zero.22. Litecoin fared even worse with an 18% droop from $61 to simply beneath $50 on the finish of the month. Cardano has not made a acquire this yr and is without doubt one of the worse performing excessive cap altcoins. Final month was no exception as ADA shed one other 20% falling from $zero.085 to $zero.068.

Issues have been that unhealthy in October that even Tether made a loss, falling beneath its greenback peg to a low of $zero.958. Rounding out the highest ten is Monero falling from $116 to $104 leading to a lack of 10%.

Heading additional down the chart the losses have been bigger, Iota for a begin misplaced 20% in October. Sprint additionally bought bashed falling 18%, Binance Coin fell 6%, and Neo in 15th spot additionally misplaced 20%.

Losses have been larger for Ethereum Basic shedding 21%, Nem solely fell 6%, Tezos slid 12% as did Zcash and rounding out the highest twenty was VeChain getting trounced nearly 22% throughout October.

By the top of October issues have been within the doldrums for almost all of cryptocurrencies with losses throughout the board in various magnitude. The crypto winter continues to be in full impact and a restoration appears to be a good distance off with many pinning hopes on 2019.

To summarize the one survivors in October have been Tron, Maker, 0x and Bitcoin Gold. Getting smashed with over 20% losses have been XRP, Bitcoin Money, Cardano, Iota, Neo, Ethereum Basic and VeChain.

All figures from Coinmarketcap.com

Earlier months: February | March | April | Might | June | July | August | September

About Tom Greenly

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