X user tracked progress of largest digital assets of 2017 cryptocurrency frenzy
Pseudonymous cryptocurrency enthusiast who goes by @0xdavanai on X analyzed the performance of assets that were on the top 100 largest crypto list by market capitalization in December 2017. Based on his analysis, he demonstrated why diversification might not be a smart bet by default.
Within the former top 25 are also terrible stories of painful dropdowns. For instance, Populous Coin , which was ranked #19, is now changing hands 99.97%, below its ATH, already ranked in the two thousands in the ratings.Twenty-seven cryptocurrencies from the top 100 list were marked by the analyst as a"scam". At the same time, these cryptos are not necessarily parts of confirmed scam campaigns. All of them, however, lost all traction, showing zero signs of activity.
Also, only 21 cryptocurrencies - including the largest ones - managed to print new all-time highs in Q1, 2021, the analyst concluded. Sixty-eight cryptos are trading below their 2017 highs as of press time.Only three altcoins managed to improve their positions compared to their 2017 rating: Binance Coin , a core native cryptocurrency of Binance's ecosystem, Chainlink , a core token of pioneering decentralized oracles infrastructure, and Dogecoin , the first-ever memetic cryptocurrency.
As a result,"spray and pray" might not be the best"lazy" strategy for retail investors, especially for mid-cap altcoins: Even if you buy all of the top 100, you will mathematically lose in the long run, your profit will not cover your losses Don't listen to fables about diversification, because only 3 out of 100 tokens are profitable in the long run.by U.Today previously, in Q1, 2022, some altcoins from 2017-2018 suddenly jumped: holders of ZCash , Eos , Bitcoin Cash , Dash and Ethereum Classic managed to gain from their five-year-old bags.
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