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Voyager

The first full week of September yielded yet another major disappointment for cryptocurrency bulls, as the market took a major downturn on Wednesday and has since failed to recover its losses.

Bitcoin (BTC) now stands just shy of $6,500 with buyers failing to find their footing and short interest for both Bitcoin and Ethereum (ETH) is hovering at all-time highs.

However, despite the significant downward pressure, select major altcoins actually finished positive to only slightly negative on the week, driven by independent fundamentals. Here’s a list of five from the AltDex¬†100 Index¬†(ALT100), a benchmark index for large-cap cryptocurrencies and tokens.

Holo (HOT) | $0.0014 | $186 Million Market Cap | +69.7%
CoinCodex

Description: Blockchain platform that can be used to build decentralized applications (DApps) on scalable sidechains

AltDex 100 Ranking: 40

Dogecoin (DOGE) | $0.0054 | $620 Million Market Cap | +17.8%
CoinCodex

Description: Cryptocurrency based on a popular meme that boasts low-fee transactions and a scalable network.

AltDex 100 Ranking: 19

MCO (MCO) | $4.50 | $71 Million Market Cap | +1.8%
CoinCodex

Description: Cryptocurrency debit card and payments platform, formerly known as Monaco.

AltDex 100 Ranking: 72

ReddCoin (RDD) | $0.0034 | $97 Million Market Cap | -0.8%
CoinCodex

Description: Cryptocurrency that is built primarily for social media platforms.

AltDex 100 Ranking: 60

Monero (XMR) | $112.94 | $1.85 Billion Market Cap | -2.5%
CoinCodex

Description: The largest privacy-focused cryptocurrency.

AltDex 100 Ranking: 9

Final Take

The crypto sell-off is likely not over as the macro environment and technicals indicate more pain ahead. Investors should trade with caution, especially any altcoin that has not yet felt the full pain of the recent bearish downturn.

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More: AltDex Cryptocurrency Index
Related: 5 Chinese Altcoins to Consider Buying During the Government Crackdown

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

Voyager