Cryptocurrency News & Discussion
r/CryptoCurrency
Bitcoin did a 2x since the lows in 2022 and Ethereum did a 2.4x. The total market cap did a 1.73x. Not only did we bounce hard since 2022, there's a lot of bullish narratives brewing. In short, as you know, there's a ton of institutional interest, as evidenced by new exchanges and ETF applications led by massive institutions.
Yet retail interest is so low that I would argue that retail is nowhere to be found. The bear market and all the media narratives scared most retail off.
(1) Searches for crypto are incredibly low
Searches for Bitcoin are very scarce:
Bitcoin searchesSearches for Ethereum are also very rare:
Ethereum searchesThese are search levels not seen since before our last major bull run (highlighted period):
https://preview.redd.it/5fy0rszdblbb1.png?width=1228&format=png&auto=webp&s=259136cc8261ceeedf6b484c62438c71cec5705cI analyzed the price of the top 50 coins of January 1st 2023 till now, excluding stablecoins, because they are stable (in theory). So how did the top 50 fare this year?
For reference, the total market cap has increased by 53%. So anything under 53% would mean that a cryptocurrency underperformed relative to the total market.
Overall, 21/50 cryptocurrencies are in the red, while 29/50 are in the green. Here's the overall results
https://preview.redd.it/oghmucqudkbb1.png?width=515&format=png&auto=webp&s=cdb2f327ba0f5a9e8752377ed800324d3e106eb5Best performers: Bitcoin Cash (+181% ), Solana (+120% ), Bitcoin (+84%), OKB (+57%) and Ethereum (+56%)
Worst performers: Apecoin (-51%), Huobi Token (-47%), Terra Classic (-45%), Toncoin (-42%), Trust Wallet Token (-41%) and Algorand (-40%).
Some other notes:
Most of the sub's (prior) favorite alts are among those that lost value: Polygon, Cosmos, Algorand, and Cronos.
Some of the sub's most hated alts are among those that gained a lot of value, like XRP and Solana.
Only a few cryptocurrencies performed better than the increase of the total market cap (+53%). This is obviously due to Bitcoin.
Bitcoin and Ethereum are amazing!
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