Once-Hot Cryptocurrencies: Where Are They Now?

As an industry, cryptocurrencies pierce at a breakneck pace. Technological innovations, new entrants into the field, and fast shifts in law have made the digital banking area a formidable one to keep up with in new years. Because investors mostly look to the trendiest coins and tokens for successor investment choices, there seems to be a consistent concentration on the latest and biggest names making headlines. However, only a handful of digital currencies have seen their long-term recognition endure the initial hubbub. So what happens to those digital currencies that were smart in the past but that investors have clearly lost about? Below, we explore some of the prior most-talked-about coins and tokens and see where they are now.

Nem

Nem was the fourth-largest altcoin by market cap in Jun 2017, but just one year after most people have lost about it. It reached up to a market cap of scarcely $15 billion at the peak. At that time, Jan of this year, the cost of each token rose to almost $2. However, as of this essay it has tumbled back down to a market cap of $2.2 billion, with the token valued at just over $0.25. Nonetheless, Nem stays in the tip 15 cryptocurrencies by market cap at this time.

Ethereum Classic

Ethereum classic, the split duplicate of ethereum that took the cryptocurrency universe by charge last year, has gifted a predestine identical to that of Nem. At the height, this cryptocurrency was in the No. 5 mark on the tip digital tokens in the world, with a market cap of over $4.5 billion. Now, with tokens offered for $15.52 each and at just a third of the value they were only months ago, ethereum classical has been relegated to the universe of intermediate cryptocurrencies. It is now the 18th-largest token by marketplace cap.

Dash

Once one of the most talked about digital currencies, Dash fell from seventh place down to 13th as of this writing. At the peak, this token ordered a market cap of more than $11.6 billion. Now the market cap is just $2.5 billion.

In each of the above cases, the cryptocurrencies in doubt live on. Indeed, each of these tokens still enjoys widespread trade and support. Are any of them expected to pass the largest cryptocurrencies to turn widespread once again, though? Only time will tell, but it appears doubtful for the time being.

Investing in cryptocurrencies and Initial Coin Offerings (“ICOs”) is rarely unsure and speculative, and this essay is not a recommendation by Investopedia or the author to invest in cryptocurrencies or ICOs. Since each individual’s conditions is unique, a competent veteran should always be consulted before creation any financial decisions. Investopedia creates no representations or warranties as to the correctness or timeliness of the information contained herein. As of the date this essay was written, the author owns bitcoin and ripple.

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