August Review of Cryptocurrency: Ethereum, Bitcoin Cash and Neo dump over 30%



Ethereum, Bitcoin Cash, Neo and Nem were destroyed while VeChain, Dogecoin and Nano survived the red month.

August will probably go down as the worst month in cryptography for 2018. There have been a few survivors of the great rout that has dumped many altcoin prices to the lowest levels for over a year. As a result of July's gains, things went quickly to the south and bears hit the markets to a minimum of less than $ 200 billion. In the first two weeks of the month the markets lost 30% to collapse to $ 189 billion before recovering to $ 226 billion by the end of the month, realizing the total loss of 16%.

  august markets

Bitcoin fell by 8% for the entire month of August from around $ 7,600 to $ 6,980 by the end of the month. Its lowest point was 14 th when it fell to $ 5.855. The good news for BTC was that its dominant position in the market increased by 5% from 48% to 53.2% of the month, indicating that the altcoins have once again taken the weight of the beating.

August Crypto Winners

Tether could be considered one of the few winners in August since he climbed the card of market capitalization up to 8 th spot that overtook Cardano and Iota. Both overcoins lost so much market capitalization that $ 2.7 billion USDT shifted the rankings. In June, Tether was in 12 th placed below Tron and Neo that decreased even more this month.

VeChain was the only pioneer in the top twenty to make a profit in August, around 6% to finish the month at $ 0.016. The exchange of tokens for the VET and related airdrops would have influenced the prices of this altcoin. Also a delay in the usual static Dogecoin saw a 6% increase in August and Nano had a revolt with a huge jump of 76% to finish the month at just over $ 3.

August Crypto Losers

Ethereum it was completely mistreated during the red August, losing 33% from $ 420 to $ 280. It is the lowest level for ETH since the markets were largely bullish last year. The big drop was attributed to the failure of the ICO projects that downloaded Ether into the markets and a general slip in all the other ERC20 tokens. Ethereum was still rocking around this depressed level at the end of August while Bitcoin had already recovered.

The XRP managed to spend a little better than 23% from $ 0.43 to $ 0.33 during the month. Its lowest level this year was 14 when it fell to $ 0.26, returning to pre-bull run prices last year. Bitcoin Cash plummeted nearly 30% in August when it lost $ 220 from $ 760 to $ 538. More than 2018 lows were recorded when BCH dropped to $ 480 on August 14th.

Crypto number five, EOS, lost about 18% last month closing at $ 6. It showed a better recovery from the middle of the month compared to its brethren higher up in the market rankings. Stellar, which had a pound sterling of over 50% in July, lost most of its gains in August when it dropped 22% from $ 0.27 to $ 0.22. Litecoin has also suffered without any news outside the LTC field for some time. LTC lost 23% in the month, closing it to just over $ 60.

Cardano was one of the worst performing altcoin for several months and in August he painted a similar picture while ADA lost 28% to end of the month at $ 0.10. Completing the top ten is Iota, which also lost 22% from $ 0.93 to $ 0.72.

Monero was more resilient than most other altcoins who lost only 3% or closed at close to $ 120 in August. Higher losses were seen in the first twenty rises with Tron down 27%, Dash that fell 17% to just over $ 180, Neo lost 33% to end the month under $ 20, and Ethereum Classic did not benefit from the 19% Coinbase quote from $ 16 to $ 13. [19659007TheoutlookwasequallygloomyforBinanceCoindown18%Nemcrashing37%Tezosdown28%andZcashcompletingthetoptwentywitha25%droptofinishthemonthat$150Anumberofaltcoinspreviouslyrankedhigherbymarketcapitalizationhavedonesobadlythattheyhavecompletelyabandonedthefirsttwenty;theseincludeOmiseGOLiskOntology0xQtumandIcon

Crypto markets reached their lowest levels in 2018 last month, but the overall decline of 16% was lower than in March when they downloaded more than 40%. This could be a sign that the selloff has slowed significantly and we may be close to the bottom. In summary, the only survivors in August were VeChain, Dogecoin and Nano while Ethereum, Bitcoin Cash and Neo were hit.

  All figures from Coinmarketcap.com 

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