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6 Cryptocurrencies Still Benefiting From Gains Year Over Year

The year 2018 is not a great one for Bitcoin or the altcoins by any stretch of the imagination. It is a valuable lesson for those chasing quick profits, though, as the easy money seems to be gone in this day and age. long-term investments are taking center stage. Despite the bearish pressure, the following currencies are still up by quite a margin compared to 365 days ago.

#6 Bitcoin

Bitcoin traders suffer from a very short-term memory when it comes to price movements. There is a lot of focus on how the Bitcoin price lost a momentum compared to its recent all-time high. When looking back just a bit further, the Bitcoin price is still up by over 40% compared to 365 days ago. Although a new all-time high seems unlikely this year, anything is possible in this volatile industry.

#5 Walton

The native currency of the WaltconChain project has been rather interesting to keep an eye on over the past year. Compared to its all-time high, the currency is not looking too stable. Zooming out to 365 days ago, the currency is still up by nearly 200%. A very respectable figure, and one that shows cryptocurrencies are far from dead despite what most people focus on right now.

#4 Dogecoin

The past few weeks have triggered a massive price surge for Dogecoin, of all currencies. Compared to 365 days ago, the popular altcoin is up over 210%, further confirming to all cryptocurrencies are not suffering the bearish pressure in similar fashion. In fact, Dogecoin is in the green when looking at the weekly, monthly, quarterly, and yearly market changes, which is very interesting.

#3 Bytom

Although most people have no idea Bytom is even in the top 30 ranked by market cap, Bytom is quietly making a name for itself in this regard. It is up by over 220% over the past year, although it remains to be seen how long this trend will remain in place. For the time being, it seems Byton is doing just fine, but altcoins markets continue to suffer at the hand of the current pressure.

#2 EOS

One of the cryptocurrencies getting a lot of flack lately is EOS. Even though this project is maturing thanks to the launch of its main net, there are still a lot of doubters among the cryptocurrency trading community. So far, EOS bucks the downtrend, as it remains up by over 430% over the past 365 days. A very positive trend, but not sufficient to claim the top spot as of right now.

#1 Stellar Lumens

Another digital asset met with a lot of skepticism and dismay is Stellar’s XLM. The Stellar Lumen asset is very different from traditional cryptocurrencies, but it is also gaining a lot of market momentum. Compared to 365 days ago, the value of Stellar Lumens is up by more than 920%. That figure will undoubtedly change in the coming weeks, but it is still rather positive regardless.

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ING, Citigroup, Shell And ConsenSys Partner to Create Ethereum-Based Platforms

In spite of a multi-month tumultuous market, institutions continue to clamor for the implementation of innovative systems and solutions that are based on blockchain technologies. 15 Firms Enter A ConsenSys-backed Blockchain Initiative On Wednesday morning, a media embargo on one of the most notable blockchain-related developments of this year was finally dropped. As per a short, but sweet four-page document, entitled “Industry Players and Banks Join Forces to Launch Blockchain Platform to Transform Commodities Trade Finance,” 15 of the “world’s largest institutions,” along with blockchain startup ConsenSys, have joined hands to make a collaborative foray into the enterprise-level blockchain platform space via a new firm called komgo SA. Although many questioned the document’s validity at first, due to a seemingly “dubious website” linked to this venture, Bloomberg, Reuters, and ConsenSys itself have since corroborated this unexpected, yet welcomed development. [email protected] is working with Citi, ING, Shell & more on an #Ethereum #blockchain platform for financing commodities trading. Blockchain is viewed as a solution to trade & settlement inefficiencies and to improving transparency and reducing the risk of fraud https://t.co/sv8KZC7MNX — ConsenSys (@ConsenSys) September 19, 2018 komgo SA, which has already been backed by leading banks, trading companies, and energy firms, intends to digitize the global trade ecosystem via a blockchain-based “open platform.” To facilitate this ambitious move, komgo has been incorporated in Geneva, Switzerland, which has become a leading cryptocurrency and blockchain hub. It is important to note that the 15 firms that have contributed to this startup are: ABN AMRO, BNP Paribas, Citigroup, Crédit Agricole Group, Gunvor, ING, Koch Supply & Trading, Macquarie, Mercuria, MUFG Bank, Natixis, Rabobank, Shell, SGS and Societe Generale, which are all well-respected firms in their own right. Although this lineup of firms is undoubtedly stacked to the brim, as aforementioned, komgo has tapped ConsenSys for its blockchain expertise and its unique insights into leading startups in this industry. Expressing his excitement, Joseph Lubin, a well-known cryptocurrency proponent and the co-founder of Ethereum and ConsenSys, wrote: “We are now entering a new era of simple and inclusive access to blockchain technology to advance stronger, more collaborative, business relationships previously out of reach. We are thrilled to see leading commodity trade finance banks and commodity houses come together to create komgo SA, which will radically simplify and accelerate trustworthiness, auditability, and accessibility to trade financing across the industry.” Many are hopeful that a collaboration between ConsenSys, coupled with the aforementioned startup, will parent ground-breaking new innovations within the next few months and years. As alluded to in the document that broke this news, komgo has already eyed greatness, aiming to launch two products before this year’s end. The first will “standardize and facilitate” KYC processes without the utilization of a centralized database or system, while the second will purportedly be “digital letters of credit,” which will allow legacy platforms to submit digitized trade data to komgo and its bank partners. This news follows PWC Blockchain head Grainne Mcnamara’s comments regarding enterprise-level solutions, in which she noted that firms are finding it difficult to roll out such systems in a manner that is “at-scale” and is cheaper than traditional systems. But if komgo SA proves to be a success, as many hope, her fears about the barriers that blockchain solutions will need to cross will be respectfully cast aside. Featured Image From Shutterstock The post ING, Citigroup, Shell And ConsenSys Partner to Create Ethereum-Based Platforms appeared first on NewsBTC.

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