In this blog post, I want to look at the five best performing cryptocurrencies in 2018 – and emphasise why the crypto space holds so much potential for crypto managers.
Let’s get into it.
Recently, Bitcoin has entered the mainstream economy. Big names such as Bloomberg, Microsoft and Expedia are all now accepting BTC.
Bitcoin’s price has been somewhat shaky over the last few months, but considering its long run, its performance can’t be knocked. This month, despite concerns, it managed to surpass $7,300. However, it did drop below $6,000 for the first time since February in June.
Ethereum’s innovation opportunities have created a larger network, allowing Ethereum to become the second most valuable crypto in the world.
However, Ethereum has been bearish for several months now. Despite its recent damaging slump, it did benefit from the crypto boom.
In May, Ethereum even had gains over Bitcoin. It even went over the $800 price mark.
Litecoin is a peer-to-peer cryptocurrency that developed from the blockchain of Bitcoin. This is appealing to investors as it can appear like an ‘upgrade’ to Bitcoin.
On top of this, Litecoin attracts the interest of investors due to its resilience. It’s now been around for seven years, which is a long time in the crypto space.
In terms of its performance, it currently sits at number 7 on CoinMarketCap rankings for Market Capitalisation.
The most notable and exciting opportunity for Ripple this year is the fact that the network has been adopted by American Express and Santander. Its fast, cheap, reliable and less volatile international transactions have intrigued banks.
Ripple now sits as the third most valuable cryptocurrency in the world.
In Q1 of 2018, Ripple saw an increase of 83% in the sale of its tokens.
Its market volume share also grew from 5.3% to 6.9% after 18 new trading venues listed it.
Dash has created lots of buzz in the markets throughout 2018. Its capitalisation has already hit $3 billion and has been a favourite for investors.
Staying one step ahead in the world of altcoins and being aware of consumer demands has helped its technology gain tractions.
At the time of writing, Dash has performed better against the USD than many other cryptocurrencies.
Are you interested in establishing a cryptocurrency investment fund? Perhaps we should talk – feel free to email me to arrange a talk.