- Tezos is the best performing asset for 2019.
- Ethereum and XRP post negative YTD.
- Bitcoin’s growth rate tripled.
Tezos News Today – the crypto industry has had an uneven year. 2019 started flat as digital assets were recovering from the extended bear season. There were fears that the effect of the bear run would be long-lasting. As time passed and the year progressed, experts and traders began to nurse hopes of another bull run. They were wrong in the end.
The bear season had a lasting effect on altcoins. It didn’t take plenty of time for the digital currency community to accept that we would not see a bull-run or altcoin season this year. Instead, 2019 has been another period where the bulk of cryptos shed their value. Per one research published by Arcane Research, among the top ten digital currencies by market cap, only about five reported positive returns more during the year. While the rest of the cryptos continued their fight to recover from the previous year’s bear season.
Tezos Grew to Join the Top Ten Digital Assets
Among the tokens outside the top ten, Tezos was the only asset that joined the top 10. The coin’s yearly return reached 200% which is impressive. This is followed by Binance Coin with 110%. However, Stellar lost 62% of its value making it the highest loser among the top 10. Bitcoin posted triple digits in terms of growth until mid-2019 before it slipped to the third-largest coin in the top 10 regarding positive returns with 85%.
BTC’s closest competitors, Ethereum and XRP, were in the red, posting slips of 12% and 49%. Although Bitcoin struggled later in the year, it still outperformed all indexes. The small caps coins started in 2019 positively. But have been struggling since May 2019. Their index dropped by 50% YTD. In light of the number of tokens without real value, this decoupling from the market might continue into the new year.
BTC’s Correlation with Ethereum was Unchanged
Meanwhile, regarding the number one asset by market cap, Bitcoin, its correlation with the number two digital asset, Ethereum, remained unchanged in 2019. But, the gold correlation increased by 0.2% from just under 0%. With great volatility, assets like Bitcoin, Ethereum and XRP all dipped in value in the past week. Although Tezos remained the coin with the highest revenue generated in 2019, it was it worse-performing crypto in the last week after falling by 9.93% in only seven days.