There were so many cryptocurrencies that boasted many use cases and investors thought that these coins would become something big back in 2017-2018.
No one talks about Waltonchain, Dragonchain, Populous, Power ledger, and even Ravencoin to an extent. But guess what, they were the top 50 back then and everyone had their money on it. Many coins are at least 90% down from their ATH. Even the famous Bitconnect is gone from the top 20.
This is me coming from a person who holds ADA, VET, XLM, ALGO, and MATIC.
Now, most of the top 10 are still within the top 50. BTC, ETH, ADA, LTC, XMR, XRP, and IOTA point out to me as solid projects I still hear to this day.
This is from Dec 17, 2017.
Let’s look at the top 20.
Ok, we have the lesser names (and some you may call shitcoins, like TRX, BTG, and ETC). And of course the famous BCC. XLM is great and Neo/EOS are cryptos I hear time to time. But you start to see coins you never heard of, like OMG and PPT.
Now, top 30.
Yeah, you don’t see much common crypto names except for USDT and ZEC.
DOGE and BNB I see but others are mostly forgotten.
Yeah, I don’t recognize much as this point.
You see what I mean? Low cryptos are a gamble, and I know you guys love your alts as much as I do, but they’re risky for a reason, even if they seem amazing in use cases. Trust me, I want MATIC or ALGO to succeed. But in the crypto markets, it’s survival of the fittest and contenders can really fall hard.
My advice is like anyone elses. If you want to invest a lot in crypto, stick mostly with the top. Especially BTC and ETH. They will never go anywhere. If you want to put some in alts, DYOR and be prepared if your investment goes south.