How did the Latest Crash affect Cryptocurrencies’ YTD Returns?

May 20, 2021 07:18 PM AEST | By Team Kalkine Media

How did the Latest Crash affect Cryptocurrencies’ YTD Returns? — Image source: eamesBot, Shutterstock

The Hardest Hit Cryptos

While Bitcoin and Ethereum experienced major crashes, believe it or not, they were not even the hardest hit of all the cryptos.

Bitcoin Cash: The fork currency of Bitcoin, Bitcoin Cash crashed by almost 55% yesterday, dropping US$696.73. It currently sits at US$767.20. It was just two weeks ago bulls were optimistic about the coin surpassing US$1000. At the beginning of 2021, Bitcoin Cash sat at US$342.73, giving it a YTD return of 103.5%.

Polkadot: Founded by Ethereum co-founder Gavin Wood in 2016, Polkadot is a multi-chain interchange and translation vehicle.

The purpose of Polkadot and its technology is to help decentralise the web. In yesterday’s crash, it dropped a startling 54.31%. Currently it sits at US$27.01 having started the year at US$8.80 for a YTD return of 207%.

Polkadot was one of the hardest-hit crypto in yesterday’s crash (Source: © Foxm131| Megapixl.com)

Dogecoin: A digital currency initially created as a joke, Dogecoin was designed to satirise other cryptos. Since then, it has seen a meteoric rise on the back of some tweets by its unofficial CEO, billionaire Tesla founder, Elon Musk, who touted himself the “Dogefather” last month. Dogecoin collapsed 54.31% in yesterday’s crash. The crypto currently sits at US$0.36, having started the year at US$0.0049 for a YTD return of 7,247%.

Stellar: The cryptocurrency describes itself as an “open network for storing and moving money”. It offers low-cost fees to transfer digital currency to fiat. Yesterday’s crash saw Stellar plummet by 53.71%. It currently sits at US$0.475 from the beginning of the year, where it was at US$0.13 for a YTD return of 265%.

Stellar lost nearly 54% yesterday (Source: © Shahurin | Megapixl.com)

Monero: Created in 2014 with a focus on privacy, Monero crashed 53.63% in yesterday’s crash. It currently sits at US$230.89, having begun the year trading at US$159.77 for a YTD return of 44.5%.

GOOD READ: Is the wild ride still on for these five cryptocurrencies?

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