Down from all time high: Dogecoin (DOGE) right behind BNB and BTC in retaining value during this bear market
Binance Coin, Bitcoin, Dogecoin, Decred, Decentraland …
You probably know all of these but don’t have an idea why am I listing them in this order.
These are, according to onchainfx.com, cryptocurrencies that lost least amount of their value since their all time high price.
Binance Coin or BNB is the exchange token launched by eponymous exchange and one of the biggest crypto exchanges in the world, Binance. BNB lost 56% of its ATH value that was recorded 259 days ago. BNB slipped from $22,48 to the present value of $9,89.
Next one is the king himself, bitcoin. Bitcoin is down 67% to its ATH that was noted 285 days ago – from $20,089 to $6590 at this current moment. The rest of the 3 mentioned cryptocurrencies follow a similar pattern:
Dogecoin is down 69% compared to its value 264 days ago, DCR is down 70% to what it was 262 days ago and finally Decentraland is also down 70% to the price registered 262 days ago.
How does the situation looks like on the other side of the spectrum?
ZCL is down 98% from its ATH, Einsteinium is also down 98% with SALT, GameCredits and Bitcoin Diamond slightly above them. Price depicts the state of these projects – hopelessly inactive and unofficially dead.
These numbers tell us a story we all probably already know – the whole market might aim at serving different purposes and have different use cases (on paper) but it still blindly and faithfully follows bitcoin when it comes to price.
Essentially, most of the market lost 70-90% of its super pumped and absolutely unrealistic price back in December. Next time someone tries to tell you how bitcoin is dead or outmoded, archaic blockchain – show him this. It is pretty obvious what dictates the destiny of the whole market – bitcoin does.
