We know that the last 30 days have not been easy for any of the cryptocurrencies. But if we just look at the top 5, who is worse off?
At the time of writing this article, we have consulted the platform CoinMarketCap to check the Top 5 Rank. Focusing specifically on the appreciation in the last 30 days of each of the top 5 cryptocurrencies today, we reached a conclusion to point out who would have the most affected performance in the last 30 days.
But what is CoinMarketCap Rank?
According to its own glossary, this rank presented by the platform is a list of the “relative position” that each cryptocurrency occupies in the market. As a rule, the rating of a cryptocurrency is evaluated by its market capitalization (Market Cap). This market capitalization, or market cap, is measured through a calculation, multiplying the price of a cryptocurrency by its circulating supply, at a given time.
Knowing this, we can say that this Rank can change at any time and the Top 5 is a VERY disputed position. Some cryptocurrencies haven’t left the Top 5 for years, while others keep switching positions, at the bottom, looking for the top of the mountain, which is the position occupied by Bitcoin, reigning absolute.
But does being in the Top 5 mean more profit?
Absolutely not. Cryptocurrencies that occupy the top usually already have a stabilized market cap or are seeking stability. While coins that are below double in value, they triple in value in a matter of weeks. Rank ends up serving much more as a matter of notoriety, where those coins that are above gain market confidence. It is almost impossible for a coin that occupies a good position in the Rank to be a scam or to be liquidated overnight. The status of occupying a location at the top of the list indicates that the project has strong foundations, has already been tested, there are established investors and partners, etc.
And after all, who had the WORST performance?
That prize, if there was one, would go to Ethereum. The main smart contract network had the BIGGEST devaluation in the last 30 days. We can even consider that there was a mass liquidation. The factors that led ETH to such a high devaluation and liquidation cannot be pinpointed precisely. However, the emergence of other Blockchains offering faster transaction resolution and CONSIDERABLY lower fees must be considered. And they can point a red flag to the network that we don’t know if it will continue to be the leader, in relation to smart contracts. Until the full deployment of ETH2, everything is anyone’s guess.