Cryptocurrency and Blockchain Hype in 2018
Bitcoin peaked near $19,783 in December 2017 and fell below $4,000 by December 2018, marking a sharp crypto winter that defined the 2018 fads cycle. Initial coin offerings raised about $11.4 billion in 2018 before regulatory scrutiny intensified. The U.S. SEC and other agencies issued multiple enforcement actions against unregistered offerings, as detailed on the SEC's enforcement page. Ethereum, Ripple, and Litecoin were among the most traded assets during the decline, with hundreds of projects failing or pivoting away from token sales.
Blockchain technology continued to attract enterprise pilots despite the price crash, with companies like IBM and Maersk exploring supply chain use cases. Facebook, Google, and Twitter tightened advertising policies for cryptocurrency products in early 2018, citing consumer protection concerns. The number of active cryptocurrency exchanges consolidated as smaller platforms faced liquidity and security challenges. By the end of 2018, market capitalization had contracted from over $800 billion in January to roughly $120 billion in December.
Meme Stocks and Retail Trading Surge
GameStop became a focal point of retail interest in 2018 after a short squeeze attempt by the r/WallStreetBets community, foreshadowing the larger meme stock phenomenon of later years. The company's stock price surged from under $10 in early 2019 after building momentum through 2018, driven by social media coordination and high short interest. Other names like AMC Entertainment and BlackBerry saw elevated volume as traders sought to replicate the strategy. These 2018 fads laid the groundwork for the meme stock era that would peak in 2021.
Brokerage platforms such as Robinhood, founded in 2013 and publicly launched its commission-free trading app in 2018, saw user growth accelerate as meme stocks gained attention. Short interest data from S3 Partners and Quandl showed that heavily shorted stocks experienced outsized volatility during this period. Traditional hedge funds that had bet against these companies faced significant losses, prompting debates about market structure and retail access. The SEC later cited these events in discussions about trading rules and investor protection.
Tech Launches and Consumer Electronics Trends
The 2018 fads in consumer tech included the launch of the iPhone XR, iPhone XS, and Apple Watch Series 4 in September 2018, which emphasized larger screens and health sensors. Face ID, 3D Touch, and stainless steel designs became key selling points, with Apple reporting record revenue in the holiday quarter despite a later slowdown. Tesla delivered about 245,240 vehicles in 2018, with the Model 3 representing the majority of production as the company scaled its Gigafactory operations. SpaceX launched 21 rockets in 2018, continuing its streak of reusable booster landings and expanding its Starlink satellite internet plans.
Streaming services such as Netflix, Disney+, and Hulu competed aggressively, with Netflix adding over 139 million global subscribers by the end of 2018 and investing heavily in original content. Smart speakers from Amazon Echo and Google Home saw rapid adoption, with voice commerce and home automation becoming mainstream 2018 fads. Foldable phone prototypes from Samsung and Huawei generated significant media coverage, though mass availability remained limited. The year also saw 5G network trials expand in the U.S., South Korea, and China, setting the stage for the next generation of mobile connectivity.