A new Q2 report from CoinGecko reveals the double-digit devastation of the crypto bear market that has been in full swing since the start of 2018.
Cryptocurrencies sustained an average percentage drop of -77% with Monero (XMR) and Basic Attention Token (BAT) hitting that mark.
Bitcoin and Ethereum closed at -69% and -70% respectively on the second quarter.
Altcoins that performed above average
- OKB (OKB) -30%
- OmiseGO (OMB) -32%
- Huobi Token (HT) -35%
- Binance Coin (BNB) -41%
- Decred (DCR) -46%
- Ontology (ONT) -53%
- EOS (EOS) -66%
- Aeternity (AE) -68%
- Bytom (BTM) -69%
- Ethereum (ETH) – 70%
- VeChain (VEN) -70%
- Zilliqa (ZIL) -71%
- Maker (MKR) -72%
- 0x (ZRX) -74%
- Mixin (XIN) -74%
- RChain (RHOC) -75%
- Golem (GNT) -76%
CoinGecko: Price Action Since All-Time High
The CoinGecko report also shows that centralized exchanges dominate the space, handling more than 97% of trading activity. Binance, OKEx and Huobi top the list, despite the greatest number of trading pairs being listed on HitBTC. At 859, HitBTC has more than twice the number of trading pairs as Binance, the leading exchange. Meanwhile San Francisco-based Coinbase ranks 10th with only 12 trading pairs.
Top 20 Exchanges by Average Trading Volume
The report shows that EOS raised $4.2 billion in over a one-year period (ending on June 1, 2018), capturing 53% of all ICO funds combined. Despite a surge in ICOs in 2018, with a 36.6% increase in the total number of ICOs for second quarter, only 6.2% of the 339 ICOs were listed on exchanges.
While Bitcoin and Ethereum dominate on Twitter as the two largest digital assets, Tron, currently the 11th largest cryptocurrency by market cap, was the third most popular on the social media platform overall.