5 Cryptocurrencies That Are Closing 2020 in a Bearish Trend

The past 12 months have not been a bullish trading period in the market of cryptocurrency. Most popular cryptocurrencies including Bitcoin Cash, Stellar, 0x, Enjin Coin, Algorand, Zcash, Bitcoin Gold, Dash, and many others, were not favored during this Covid-19 pandemic period.

However, the end of 2020 turned out to be favourable for most coins in the market, as their prices skyrocketed to new highs. Nevertheless, some cryptos showed bearish signs and lost the great deal of their value while others were uptrending. 

NXM

NXM has declined over 27.7%. The coin, in the 100th rank by market cap, is currently trading at about $19.71 with the volume (24h) of around $15,460,458 and its total market capitalization is about $113.2 million. 

It's all-time high and all-time low in 2020 has been $82.35 (August 30) and $6.84 (on July 23), respectively.

Ocean Protocol

Since the year 2020 started, the Ocean Protocol (OCEAN) coin has not been doing well – it opened the year on the low of $0.040329 and maintained this price range for over two quarters (Q1 and Q2). Even when a lot of people were fleeing to store their wealth in cryptocurrencies due to the fear of inflation and recession caused by Covid-19 pandemic, the price of Ocean Protocol did not register any significant rally.

OCEAN is at press time changing hands at about $0.453737 with a volume (24h) of almost $33.6 million, with an entire MC of about $184 million. For the past 30 days, the cryptocurrency in question has plunged by over 19.42 percent. The coin is standing in the 80th position by MC, according to the data by CoinMarketCap (CMC). Its all-time high (ATH) is $0.752522 that it hit on August 18, 2020 and its all-time low (ATL) is $0.013653 (August 10, 2019).

Quant

Quant (QNT) is in the 86th position by MC, and is currently trading at almost $13.39 with the volume of $4,099,548 and total market cap of $162 million. 

However, QNT/USB has plummeted by over 17.38% in the past 1-month. Its ATH is $17.35 (on November 16, 2020) and ATL of $0.163629 (on Aug 23, 2018).

Avalanche

Since the beginning of this year, Avalanche has struggled to trade above $12. Avalanche (AVAX) is now in the 66th rank. Its ALH is $11.46 (Sept 22, 2020) and ATL is $2.81 (Dec 9, 2020). 

At press time, AVAX is changing hands at around $3.21 with a volume of $23.4 million and MC of $245.4 million. 

AVAX has fallen by more than 14.8% for more than 30 days back. If the downward trend remains like this, AVAX price is more likely to touch $1 cap before the end of this year.

HedgeTrade

HedgeTrade (HEDG) is now in the 75th position by market capitalization, and is now trading at about $0.60436 with a MC of $205 million and volume (24h) of $416.7 million. 

In the last 30 days, HEDG has plunged by about 10.85 percent. HEDG’s ATH and ATL is $3.28 and $0.05664, respectively.