5 Top Altcoins Trading Closest to All-Time Highs
With many cryptocurrencies currently trading at an 80-90% discount from their January highs, it can be difficult to determine which will actually recover and which will disappear altogether.
While looking for the greatest discounts relative to previous and future value is undoubtedly a strong investment technique, the cryptocurrency market might make you look for the digital assets that have actually shown signs of strength through the onslaught of 2018 losses.
Here are 5 top altcoins that are currently trading closest to all-time highs:
Description: Metaverse, which launched in February 2017, is similar to Ethereum (ETH) and NEO (NEO) in that it is a smart contract platform, but with an early focus on user-friendly functionality. Digital assets can be simply created and exchanged directly on the Metaverse chain without extensive programming knowledge, and the project has a heavy focus on digital identity, which can be applied to a number business use cases.
All-Time High: $3.35
AltDex 100 Ranking: 48
Binance Coin (BNB) | $9.95 | $951 Million Market Cap
Description: Binance Coin offers investors a number of incentives, including reduced trading and withdrawal fees. Notably, every quarter, Binance uses 20% of its profits to buy back BNB and destroy them, until 50% of all the BNB (100MM) removed from circulation. This ultimately works to promote long-term value, similar to the effect seen after share buybacks in traditional markets. (more)
All-Time High: $24.91
AltDex 100 Ranking: 16
Description: 0x is an open protocol that facilitates low friction peer-to-peer exchange of ERC20 tokens on the Ethereum blockchain. The 0x Protocol is aiming to become a common infrastructure for decentralized applications (DApps), enabling them to access large public liquidity pools or even create their own. This system of available liquidity allows 0x to take the concept of a decentralized exchange a step further, as traditional DEXs are illiquid, slow, expensive, and inoperable with one another. 0x is currently up for listing on Coinbase. (more)
All-Time High: $2.47
AltDex 100 Ranking: 23
Ethereum Classic (ETC) | $13.28 | $1.38 Billion Market Cap
Description: Ethereum Classic serves as a decentralized platform that runs smart contracts exactly as they were designed without incurring any issues related to downtime, censorship, fraud or third-party interference. Similar to Ethereum, Ethereum Classic has undergone multiple additional forks since 2016, addressing various areas related to security and functionality. ETC was recently added across the various Coinbase trading products. (more)
All-Time High: $47.77
AltDex 100 Ranking: 12
Stellar Lumens (XLM) | $0.2255 | $4.23 Billion Market Cap
Description: Stellar is an open-source, distributed payments infrastructure that aims to connect people, payment systems, and banks with a focus on the developing world. In its current state, Stellar’s average transaction confirmation time is around three to five seconds. Additionally, Stellar’s protocol is able to conduct over 3,000 transactions per second, quickly making it a favorite platform for ICOs. Stellar is currently up for listing on Coinbase. (more)
All-Time High: $0.93
AltDex 100 Ranking: 6
Taken together, these five altcoins are the best performing of 2018. While this does not necessarily equate to additional strength moving forward, any investors looking to add to their portfolio might be inclined to consider projects that have weathered one of the worse crypto bear markets in history.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.