Gloomy? Not exactly, but the crypto markets had a tough ride in February.
What started with a sale in bitcoin, one that pushed the full market capitalization of all cryptocurrencies to a 10-week low of $276 billion, has finished in an apparent recovery, with the total value hitting $450 billion Thursday to end February trading. Nevertheless, the numbers don’t really display the whole story. Comparing productivity to January, the market saw a drop of 8,5% month-over-month, and a drop of 45,78% from its 2018 record high of $830 billion.
But it doesn’t mean there wasn’t profit to be had. Bitcoin (BTC), the biggest cryptocurrency by market capitalization, saw a “V-shaped” recovery, while 5th-place litecoin notched monthly incomes.
Yet, it was less famous cryptocurrencies that performed best amid the broad-based gloom and doom, supposing that after a squall of retail trading to end 2017, enthusiasts are probably once again the dominant market power.
DigixDao
Monthly performance: +136%
All-time high: $597,66
Closing price on Feb. 28: $555,44
Current market price: $559
Rank as per market capitalization: 25
According to the reports, CapDigixDao (DGD), an ethereum-based token, earned a stunning 136% last month, increasing by 90% in the last week alone to hit an all-time high of $597,66 Wednesday.
Politeness of the meteoric growth, DGD is now the 25th biggest cryptocurrency by per market capitalization, putting into large-cap territory.
For those new to asset’s climb up the charts, the team behind the project are making a new token called DigixGold (DGX), which will be backed by physical gold.
“Every DGX will be backed by 1 gram of LBMA-approved bullion,” as per the official website, which claims the coin will be released by the end of the first quarter.
Owners of DGD can vote and approve project offers and will receive a pro-rated share of DigixDAO’s transaction fee on Digix Gold, denoted in DGX gold tokens. It is worth noting that DGD can’t be purchased with fiat currencies and going forward the DGX token can only be bought with ethereum’s ether token.
Litecoin
Monthly performance: +24%
All-time high: $375,29
Closing price on Feb. 28: $202,9
Current market price: $208
Rank as per market capitalization: 5
LTC clocked a high of $251,90 on Coinbase’s GDAX exchange on Feb. 20 as investors bought in to make free money via the litecoin cash (LCC) hard fork.
Apart from this, profit could be associated with Litecoin Founder Charlie Lee asserting his confidence that the cryptocurrency could overtake bitcoin cash in market cap this year. Furthermore, Litecoin was also in the spotlight because of Litepay launch.
At the moment, Litecoin is trading at $205 on GDAX, having witnessed the bull exhaustion near the stiff resistance zone of $230-$240 earlier this week. In the meantime, LCC (created on Feb. 20) is trading at $1,39 – down 31,13% in the last 24 hours.
OmiseGo
Monthly performance: +18,3%
All-time high: $28,35
Closing price on Feb. 28: $18,62
Current market price: $19,22
Rank as per market capitalization: 19
Having rallied over 140% starting from the Feb. 6 low of $7,39, OmiseGo’s ICO token ranks 3rd on the list of gainers among top 25 cryptocurrencies by market capitalization. The project signed a deal with the Thailand government in January develop a payment system, as well as an identification system.
Apart from this, it is one of the many ethereum-based projects that have come together to establish the Ethereum Community Fund (ECF).
