March is right here, spring is upon us, and the state of affairs within the crypto market can also be changing into brighter in comparison with what it had been in the course of the winter months.
As all the time after we enter a brand new month, we have a look within the rearview mirror to see how the previous month had gone. And in comparison with January, February was a really robust month for the crypto market, with many large-capitalization cryptoassets seeing double-digit share beneficial properties for the month.
Top 10 cash in February
The prime 10 cash by market capitalization noticed typically good efficiency in February, with all cash besides Cardano’s native token ADA rising in value.
Bitcoin (BTC), on its finish, rose by 15.13% for the month to a value of USD 43,529, whereas the second-largest crypto, ethereum (ETH) rose by 14.85% to USD 2,946. The beneficial properties for each cash final month marked a break up above a earlier downtrend, indicating {that a} extra bullish interval could possibly be forward for the 2 largest cryptocurrencies.
The strongest from the ten, nonetheless, was terra (LUNA), which rose by greater than 72% in the course of the month of February. Following the beneficial properties, LUNA is now inside comparatively shut distance from its all-time excessive, proper across the USD 100 mark.
The sole loser, ADA, fell by 8.39% for the month. Following the declines in February, ADA is now down by near 70% from its all-time excessive of USD 3.1 from September 3, 2021. ETH, by comparability, is down by about 40% from its all-time excessive seen in November final yr.
Best from the highest 50 in February
Looking now on the 50 largest cash by market capitalization, we are able to see that the majors akin to BTC and ETH did carry out comparatively effectively in comparison with smaller altcoins in February, coming in because the 9th and 10th greatest performers.
Coming in as the highest performer among the many 50 largest cash was UNUS SED LEO (LEO), the change token issued by Bitfinex. The coin rose greater than 74% for the month after information emerged that the hackers behind the 2016 assault on Bitfinex had been arrested.
Coming in subsequent was LUNA, which was additionally the strongest from the highest 10, adopted by XRP and Avalanche’s native token AVAX, which rose by 25.9% and 24.7%, respectively.
Worst from the highest 50 in February
Moving now to take a look at the worst performers from the highest 50 cash by market capitalization, we clearly see how robust the month of February actually was, with not a single coin among the many first 10 shedding greater than 15% for the month.
Most notable from this group of cash was the metaverse-related token SAND, which is used within the digital world referred to as The Sandbox. The token dropped 14.45% for the month, after a protracted interval through which metaverse-related digital belongings acquired consideration.
Among different main losers over the previous month, OKX’s change token OKB stands out with a drop of 14%. The coin was adopted by algorand (ALGO), fantom (FTM), and close to protocol (NEAR), which dropped by 12.8%, 12%, and 11.2%, respectively.
The unique meme coin dogecoin (DOGE) and the second-layer Ethereum answer polygon (MATIC) dropped the least on this group, falling by 6.75% and 6.14%, respectively.
Winners & losers from the highest 100
Broadening our scope additional to take a look at the 100 most beneficial cash by market capitalization, we see many of the identical cash as on the highest 50 checklist showing once more, though there are additionally some newcomers.
Coming on prime among the many 100 largest cash was anchor protocol (ANC) with an enormous achieve of almost 147% for the month. The robust month-to-month beneficial properties come in consequence of the newly issued coin reaching an all-time low proper across the starting of February, from which it has now strongly recovered. The coin was adopted by LEO and LUNA.
At the opposite finish of the spectrum, ECOMI (OMI), convex finance (CVX), and kusama (KSM) noticed the weakest performances among the many 100 largest cash, dropping by 39.1%, 26.5%, and 22.8%, respectively.
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