Coin Race: Top Winners/Losers of February; Is Crypto Spring Coming?

March is here, spring is just around the corner, and the situation on the crypto market is also getting brighter than in the winter months.

As always, when we enter a new month, we take a look in the rearview mirror to see how the past month went. And compared to January, February was a very strong month for the crypto market, with many large-capitalization cryptoassets recording double-digit percentage gains for the month.

Top 10 coins in February

The top 10 coins by market capitalization had a generally good performance in February, with all coins except Cardano’s native token ADA rising in price.

Bitcoin (BTC) rose by % to a price of USD 43,529 at the end of the month, while the second largest crypto, Ethereum (ETH), rose by % to USD 2,946. The gains for both coins over the past month marked a break above a previous downtrend, suggesting that a more bullish period may be ahead for the two largest cryptocurrencies.

But the strongest of the 10 was Terra (LUNA), which increased by more than 72% in February. After the wins, LUNA is now at a relatively short distance from its all-time high, right around the USD 100 mark.

The only loser, ADA, fell by 8.39% For the month. After the declines in February, ADA is now down nearly 70% from its all-time high of USD 3.1 As of September 3, 2021. In comparison, ETH has fallen by about 40% from its all-time high in November last year.

The best of the top 50 in February

Now looking at the 50 largest coins by market capitalization, we can see that the majors such as BTC and ETH performed relatively well compared to smaller altcoins in February, coming in as the 9th and 10th best performers.

As the top performer among the 50 largest coins came UNUS SED LEO (LEO), the exchange token issued by Bitfinex. The coin rose by more than 74% for the month after it became known that the hackers behind the 2016 attack on Bitfinex had been arrested.

Next came LUNA, which was also the strongest of the top 10, followed by XRP and Avalanche’s native token AVAX, which increased by 25.9% And 24.7% Respectively.

Worst of the top 50 in February

Now, if we look at the worst performers of the top 50 coins by market capitalization, we clearly see how strong the month of February really was, with not a single coin among the top 10 losing more than 15% for the month.

The most notable of this group of coins was the Metaverse-related token SAND, which is used in the virtual world known as sandbox. The token fell % for the month, after a long period of receiving attention from Metaverse-related digital assets.

Among the other big losers of the past month, OKX’s exchange token OKB stands out with a decrease of 14%. The coin was followed by Algorand (ALGO), Fantom (FTM) and Near Protocol (NEAR), which fell by 12.8%, 12% And 11.2% Respectively.

The original meme coin Dogecoin (DOGE) and the Ethereum solution Polygon (MATIC) of the second layer fell the least in this group by 6.75% And 6.14%, Respectively.

Winners & Losers from above 100

If we continue to expand our section to look at the 100 most valuable coins by market capitalization, we will see many of the same coins reappear as on the top 50 list, although there are also some newcomers.

At the top of the top 100 largest coins was Anchor Protocol (ANC) with a massive gain of almost 147% for the month. The strong monthly gains result from the fact that the newly issued coin reached an all-time low at the beginning of February, from which it has now recovered strongly. The coin was followed by LEO and LUNA.

At the other end of the spectrum, ECOMI (OMI), Convex finance (CVX) and kusama (KSM) recorded the weakest performances among the 100 largest coins with 39.1%, 26.5% And 22.8%, Respectively.

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