A report released by the popular CoinGecko blog was the latest report which detailed what it found on Ethereum during the third quarter of this year.
What did they find?
Some of the details that were included showed some negative statistics for the second biggest cryptocurrency, Ethereum. Litecoin, XRP, Bitcoin Cash and Bitcoin have shown a positive year on year returns however, Ethereum didn’t seem to deliver as it has fallen by around 22 percent since the second quarter of the year which has left many investors rung out.
In the report, the finding show hat EOS was the highest ranking performer amongst the industries top digital currencies. This is following a 700% increase since the second quarter. Next on the plate is Ripple which up by 180 percent and then Bitcoin which has shown an increase of just over 50 percent. At the bottom of the list is actually Bitcoin Cash which has only experienced a 28 percent surge,
These figures aren’t exactly great but they ‘pale in comparison’ when looking at the data seen the the first quarter of the year. As said by Ethereum World News:
“During this time, Ethereum did exceptionally well and was up by approximately 684 percent. However, Ripple’s XRP and Litecoin were the currencies experiencing their highest levels of growth. Ripple experienced a push over 2,100 percent from Q4 of 2017 to Q1 of 2018, while Litecoin exploded by approximately 1,571 percent. Bitcoin was up by roughly 536 percent, despite the bearish trends its price would begin to endure later in the month.”
With Bitcoin Cash being the lowest performer at the time, it ultimately fell by just under ten percent during the period. Bitcoin Cash was the freshest face digital currency amongst the five that were mentioned. Nevertheless, it arrived through a hard fork in August of last year and was still seen like a first grader.
A drop in popularity
The aforementioned figures are most likely to account for all the hype which surrounds Bitcoin and the other digital currencies in the market during the late months of last year. As we all know, during this time Bitcoin nearly hit the $20,000 mark and while a few months later Ethereum would reach the $1,400 level this was still a big feat. This led to a popularity which would then see bearish movement and ultimately a refusal to let up and has remained with us during most of this year.
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