XRP, Bitcoin Cash, Cardano, Iota, Neo, VeChain falling hard, Tron survives while Maker and 0x recover well.
For the eighth month this year cryptocurrency markets have fallen. October has been no exception with a 9.4% decline in total market capitalization. This has resulted in the loss of over $20 billion from cryptocurrencies during the month. The Friday 12 monthly low to $197 billion was not as deep as September’s dip but very close. At the end of October markets were at just over $200 billion, down 75% from their January high. The downtrend is still very clear but the losses have grown smaller indicating that the bottom could be close.
Bitcoin lost ground in October, starting the month at just over $6,600 and ending it at $6,320. This 4.5% decline is not as bad as it seems since BTC has held above the $6k level for a year now, aside from a couple of quick bounces below it. It has come a long way in the past ten years and some stability is welcome.
October Crypto Winners
We’re calling Tron one of the crypto winners for October because TRX ended the month where it started at $0.222 making it the first altcoin in the chart not to have lost ground.
Maker also made it through the tumultuous month with a 21% climb from $495 to around $600 at the end of October. Bitcoin Gold survived with no losses beginning and ending the month at $26. 0x also made gains during the month ending it 17% higher at $0.767 from $0.654 at the beginning.
Decred was another survivor with no losses remaining at $39 at the end of the month. Aeternity down in 30th spot also ended a little higher with a 7% gain over the month.
October Crypto Losers
Ethereum has lost 15% during October, starting out at $232 and ending at $197. It is ETH’s lowest levels since July 2017 and no recovery looks to be coming just yet. Market capitalization is around the $20 billion mark with the world’s second largest cryptocurrency having lost
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