The crypto markets in Q1 of 2018 went through a harsh bumpy ride, in which only two of the tokens managed to monetize in the downtrend.
The purchasing momentum seen till the year-end quickly vanished in the start of this year in January, and the things that previously emerged as profitable later led to the drastic slump owing to the fear of stringent regulation announced by China and South Korea.
To be particular, South Korea has been efficient in limiting the unnecessary assumptions, for instance, the “Kimchi Premium” drastically fell with the new regulations. Moreover, the regulation talks also affected the trading volumes with a sharp drop in February and March. This was considered as the indication of market’s normalization.
According to a CoinMarketCap, cryptocurrency market’s total value was $830 Billion in January, and in the last week, it fell by 70% to $251 Billion. This drop was the lowest since Nov 23. Globally, all the top rated cryptocurrencies have seen a loss in January peak. While two token that are rarely known; VeChain’s VET and Binance coin (BNB) made through the tough times and managed to get the gains.
Focusing on the top gainers in Q1 2018 in cryptocurrency markets were Binance Coin and VeChain. The quarterly performance of Binance Coin and VeChain was +28.15% and +3.47%. According to the market capitalization, Binance Coin ranks 18, while VeChain positions at 16. The highest value of the both Binance Coin and VeChain crypto tokens remained at $22.4 and $9.45. In addition, the current market price of the Binance Coin is $11.77, while that of VeChain is $2.74. As per the recent data, the closing value of Binance Coin was $11.06, while of VeChain it was $2.38.
The cryptocurrency markets are presently riding on the stormy wave of unpredictability which can either tumble or reach the shore.