The global cryptocurrency market on 18 March 2018 reflected a period of consolidation following the explosive bull run of late 2017. While prices had cooled from their all-time highs, digital assets continued to draw significant attention from investors, developers, and financial institutions. This article explores the top 20 cryptocurrencies by market capitalization on that date, analyzes key performance metrics, and provides insights into market dynamics during this pivotal moment in blockchain history.
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Market Leaders: Bitcoin and Ethereum Maintain Dominance
At the forefront of the market, Bitcoin (BTC) held the number one position with a market capitalization of $139.2 billion**, trading at **$8,223.68 per coin. With over 16.9 million BTC in circulation, Bitcoin remained the benchmark for the entire digital asset class. Despite a 4.23% gain over 24 hours, its seven-day performance showed a decline of 14.46%, signaling ongoing profit-taking and market correction.
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Ethereum (ETH) followed in second place, with a market cap of $52.9 billion** and a price of **$538.64. Ethereum's network supported a growing ecosystem of decentralized applications (dApps) and initial coin offerings (ICOs), solidifying its role as the leading smart contract platform. However, ETH was down 1.69% in 24 hours and 25.82% over seven days, reflecting broader risk-off sentiment in the altcoin sector.
Top 5 Cryptocurrencies: Stability Amid Volatility
Beyond the top two, the rest of the top five showed mixed performance:
- XRP (Ripple) ranked third with a market cap of $25.75 billion, up 4.25% in 24 hours. Its strong showing highlighted growing interest in enterprise-focused blockchain solutions for cross-border payments.
- Bitcoin Cash (BCH) held fourth place at $15.97 billion, though it declined by 1% in the past day. The hard fork of Bitcoin continued to attract debate over scalability versus decentralization.
- Litecoin (LTC) rounded out the top five with a market cap of $8.58 billion, rising slightly by 0.95%. Known as “digital silver” to Bitcoin’s “gold,” Litecoin maintained steady adoption due to faster transaction times.
These top-tier assets demonstrated relative resilience compared to smaller-cap coins, which experienced steeper corrections.
Emerging Platforms: Neo, Cardano, and EOS Gain Traction
Mid-tier projects with strong development roadmaps began to capture investor attention:
- Neo (NEO) ranked sixth with a market cap of $4.26 billion, surging 7.39% in 24 hours. Often dubbed the “Chinese Ethereum,” Neo promoted digital identity and regulatory compliance—key differentiators in its home market.
- Cardano (ADA) came in eighth with $4.05 billion, up 2.7%. Its research-driven approach and academic partnerships set it apart in an era of speculative launches.
- EOS (EOS) ranked ninth at $3.42 billion, gaining 0.49%. Backed by high-profile funding and aiming to support industrial-scale dApps, EOS was preparing for its mainnet launch.
These platforms represented the next wave of blockchain innovation, focusing on scalability, governance, and real-world use cases.
Privacy and Utility Coins: Monero, Dash, and IOTA
Privacy-focused and utility-based cryptocurrencies also featured prominently:
- Monero (XMR) ranked 11th with a market cap of $3.32 billion, jumping 6.66% in 24 hours. Its emphasis on untraceable transactions made it popular among privacy advocates.
- Dash (DASH) followed at 12th with $3.14 billion, up 2.63%. With built-in governance and instant transaction features, Dash positioned itself as digital cash.
- IOTA (MIOTA) ranked 10th at $3.41 billion, rising 8.6%—the highest daily gain among top 15 assets. Its unique Tangle architecture targeted the Internet of Things (IoT) space, attracting partnerships with major tech firms.
These projects highlighted diversification beyond pure store-of-value models.
Stablecoins and Niche Tokens: The Rise of USDT
One notable entry was Tether (USDT), ranked 14th with a market cap of $2.22 billion**. Unlike other cryptocurrencies, USDT maintained a stable price around **$1.00, serving as a critical bridge between fiat and crypto markets.
Despite controversies over its reserves, USDT became essential for traders seeking to hedge against volatility or move funds quickly across exchanges without exiting to traditional banking systems.
Other niche tokens like Vechain (VEN), Lisk (LSK), and Nano (NANO) showed promise in supply chain tracking, blockchain app development, and feeless microtransactions, respectively.
Market Sentiment and Performance Trends
A closer look at the data reveals broader trends:
- Most top cryptocurrencies posted negative 7-day returns, indicating a cooling market after the 2017 frenzy.
- Short-term gains (1h–24h) were modest, suggesting reduced speculation and more cautious trading.
- High trading volumes for BTC and ETH underscored their role as primary liquidity hubs.
- Emerging ecosystems like EOS and Cardano attracted long-term investors despite short-term price swings.
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Frequently Asked Questions
Q: What was Bitcoin’s price on 18 March 2018?
A: Bitcoin was trading at approximately **$8,223.68**, down from its December 2017 peak above $19,000 but still reflecting substantial value retention.
Q: Which cryptocurrency had the highest 24-hour gain on that date?
A: IOTA (MIOTA) led with an 8.6% increase, followed by Neo (7.39%) and Monero (6.66%).
Q: Why was Ethereum’s price declining despite its strong ecosystem?
A: The broader market correction affected most altcoins. Additionally, concerns about scalability and upcoming upgrades contributed to short-term selling pressure.
Q: Was Tether already widely used in 2018?
A: Yes, Tether had become a dominant stablecoin by early 2018, especially on Asian exchanges where fiat on-ramps were limited.
Q: How did regulatory concerns impact the market in March 2018?
A: Growing scrutiny from regulators worldwide led to increased caution among institutional players, contributing to reduced volatility and slower capital inflows.
Q: What role did ICOs play during this period?
A: Many top-ranked altcoins like EOS and NEO raised funds through ICOs in 2017–2018, fueling both innovation and speculation across the ecosystem.
Looking Back: Lessons from the 2018 Crypto Landscape
The cryptocurrency market of March 2018 marked a transition from hype-driven momentum to fundamentals-based evaluation. While prices corrected sharply from all-time highs, foundational projects continued to develop robust networks, attract talent, and explore real-world applications.
Investors began distinguishing between speculative tokens and those with sustainable technology, governance, and use cases—a shift that continues to shape today’s maturing blockchain industry.
👉 Explore how historical trends inform modern crypto opportunities today.
As new generations of blockchains emerge with improved scalability and interoperability, understanding past market snapshots remains crucial for navigating future cycles with confidence and clarity.