Earlier in Q3, we reported that masternodes were one of the subjects discussed in CoinGecko’s “Q3 Quarterly Report”. Once again, the crypto market ranking website teamed up with Masternodes.Online to focus on masternodes in their Q4/yearly report.

Interestingly, the number of masternodes and masternode coins increased in 2018. As at the close of Q1 of 2018, there were only 57 masternode coins and about 35,780 masternodes. These values continued to increase in each quarter, hitting 536 masternode coins and 250,307 hosted masternodes, by the end of Q4 of the same year. This is an increase of close to 950% in the number of masternode coins.

Ironically, but quite expectedly, despite the increase in the number of masternode projects, the total market cap for the masternode niche dropped with each quarter. As at Q1, the total market cap for masternode coins was over $12 billion. By Q4, this number had reduced to barely over $500 million. The dwindling price of cryptos throughout 2018 is a primary cause of this steep price action.

With regards to the top masternodes for Q4, Dash still retained its position as the largest masternode coin from Q3, with a market cap of $660 million. Other top performers on the list include PIVX, Zcoin, Horizen, SmartCash, SysCoin, Swarm, EtherZero, Wagerr, and Energi.

It is also worth stating that the top 4 masternode coins have an emphasis on privacy – Dash, PIVX, Zcoin, and Horizen.