As the first quarter of the year comes to a close, the majority of companies that are already publicly traded will offer their numbers for investors to see. This provides an excellent opportunity to see the various stories of success in cryptocurrencies during these months as well. Bitcoin is commonly used as a reference for this growth, but the writers at Chepicap brought attention recently to 37 altcoins that were performing better than Bitcoin so far this year.
Using the $100 million market cap as a base for these projects, which 36 cryptocurrencies surpassed at a greater volume than Bitcoin. At present, Bitcoin is trading at $4,013, which is a decrease of 0.32% in the last 24 hours.
The next bracket that this evaluation is broken down into is the altcoins that have outperformed Bitcoin by anywhere between 6% and 10%. This category includes Nano, Bytecoin, OmiseGo, Decred, and Lisk. Some of the projects have easy explanations for their growth, like Nano’s performance that engages consumers with various social media platforms like Reddit, Twitter, Discord, and Twitch. However, Bytecoin was delisted from both Binance and OKEx at the end of 2018, but it still managed to surpass the growth of Bitcoin.
The bracket of performance next includes the tokens that have outperformed the original token by 10% to 20%, which includes Aeternity, NEO, TRON, Monero, Dash, and Qtum. The one that has clearly garnished the most media attention in the last few months has been TRON, which has a lot to do with the new connection to the BitTorrent token, an asset that became the first project that the Binance Launchpad offered. One of the other big reasons that TRON has seen this growth has to do with their work in decentralized applications (dApps).
NEO has been one of the other victorious members of this bracket, which has been due to the new attention on both dApps and bringing in new developers. The 3.0 update came with substantial scalability solutions and other benefits, which could have pivoted the project forward as well.
In the next evaluation of progress, the percentage spans a much greater range from 20% to 60%. There are 12 coins that fall into this category, which are Chainlink, Maker, Basic Attention Token, Pundi X, EOS, ICON, VeChain, Bytom, Komodo, Tezos, BitShares, Cardano, and DigiByte. Chepicap recognizes that one of these coins is the king of this group, which is EOS, outperforming Bitcoin by over 40% in a lot of the same ways that TRON has come out victorious.
The Basic Attention Token was a company that thrived from the now-confirmed rumors that took place, which stated that the asset was included in the new Samsung smartphone, pushing the price of. Along with the increase of price, the addition of the BAT token to the Brave browser let consumers get back income that they stimulated through allowing advertisements to be displayed in the browser, leading to 47% performance over Bitcoin.
The final bracket is for any token that managed to exceed Bitcoin’s performance by over 60%, which turned out to be a total of 12 coins, which are Enjin, ABBC, Crypto.com Chain, Ravencoin, THETA, Binance Coin, Holo, Huobi Token, Ontology, Litecoin, Augur, and Steem.
Though it might be a bit surprising that Enjin Coin managed to see this level of performance, it was the addition of the token into the new Samsung S10 that pushed it along, suddenly exposing it to a massive audience, while increasing the price by over 360% in the first quarter. The market cap alone went from $30 million to $1.44 million in less than three months. Even though it is easy to just credit the increase to the integration via S10, it also has been included in the new Unity game engine, which is believed to be the biggest source of price change.
Binance Coin, one of the more well-known tokens in the crypto space, has a lot of relevance in this section. There have not been a lot of changes in their token, but the Launchpad of the parent company has been wildly successful, already announcing three projects in the first quarter that were completely out of tokens in minutes. The price went from $6 to $15 fairly quickly.
As the next quarter begins and new developments continue to launch, it will be exciting to see the effect of Q2 2019 on the crypto community.