이 기사 공유하기

Ripple's XRP Worst Hit By January Market Decline

Large-cap cryptocurrencies may have had a stellar 2017, but 2018 hasn't been so kind – with several being worst hit.

작성자 Omkar Godbole
업데이트됨 2021년 9월 13일 오전 7:31 게시됨 2018년 2월 3일 오후 12:40 AI 번역
stocks

Large-cap cryptocurrencies may have had a stellar 2017, but 2018 hasn't been so kind.

Among crypto assets with over $1 billion in invested value, Ripple's XRP cryptocurrency may have been the biggest disappointment to newer investors, declining sharply amid heightened scrutiny after a period in which it became an industry darling for new investors.

STORY CONTINUES BELOW
다른 이야기를 놓치지 마세요.오늘 Crypto Daybook Americas 뉴스레터를 구독하세요. 모든 뉴스레터 보기

Still, XRP was far from alone in its sizable declines.

Bitcoin forks saw a similar sell-off, with , which forked from the network in August, and bitcoin gold, which quickly followed, falling sharply amid a broad market decline.

XRP

ripple-10

Entering January, it's safe to say investors were high on XRP.

광고

A key product for one of the most well-known industry startups, the digital asset won no shortage of favor from investors enamored by its goal of disrupting an oligopolistic global payments industry.

And the company provided fresh reasons for the interest. By the time XRP had become the world's second-largest cryptocurrency, three of the top five money transfer companies worldwide were said to be in the process of implementing XRP in their payment flow systems.

However, as the month progressed, the optimism failed to keep XRP bid.

A rumored listing on Coinbase never happened, and this, coupled with a broader market weakness weighed heavily over XRP. As of now, XRP is changing hands at $0.89 – a figure that's down almost 80 percent from its record high.

Bitcoin cash

bch-2

, a fork of the cryptocurrency bitcoin, soared in the fourth quarter of 2017, as investors took note of the faster transaction speed and low fees.

Not only that, its surprise listing on Coinbase's GDAX exchange in December boosted its appeal, while cryptocurrency exchange CoinEx implemented bitcoin cash as its default currency in January.

광고

Still, it wasn't all green for BCH, as it dropped 41.29 percent last month, possibly due to fears of stricter regulations in South Korea and China, the latter region being one from which it draws the majority of its support.

As of writing, BCH is trading at $1,169, down around 72 percent from its all-time high.

Bitcoin gold

bitcoin-gold-4

Created via a fork of bitcoin in mid-November, bitcoin gold (BTG) surged to record highs in 2017.

Still, despite the temporary highs, in its initial days, it was perhaps the most unloved of bitcoin's many forks. Back then, the investor community felt BTG was overvalued with few (or no) apparent use cases.

Entering January, it seems that sentiment won out, as BTG was one of the worst performers in January amid broad market sell-off.

As of writing, BTG is trading at $108, down 78 percent from lifetime high.

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Ripple, the company that oversees XRP development.

Charts via CoinMarketCap

Deflated ball image via Shutterstock

Больше для вас

Exchange Review - March 2025

Exchange Review March 2025

CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.

Что нужно знать:

Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.

  • Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
  • Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions. 
  • Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.

Больше для вас

This article is created to test tags being added to image overlays

Consensus 2025: Zak Folkman, Eric Trump

Dek: This article is created to test tags being added to image overlays

Что нужно знать:

  • Ethena's USDe becomes fifth stablecoin to surpass $10 billion market cap in just 609 days, while Tether's dominance continues to slip.