Coin Race: Top Winners/Losers of February; Is Crypto Spring Coming?
March is here, spring is upon us, and the situation in the crypto market is also becoming brighter compared to what it had been during 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 had gone. And compared to January, February was a very strong month for the crypto market, with many large-capitalization cryptoassets seeing double-digit percentage gains for the month.
The top 10 coins by market capitalization saw generally good performance in February, with all coins except Cardano’s native token ADA rising in price.
Bitcoin (BTC), on its end, rose by 15.13% for the month to a price of USD 43,529, while the second-largest crypto, ethereum (ETH) rose by 14.85% to USD 2,946. The gains for both coins last month marked a break up above a previous downtrend, indicating that a more bullish period could be ahead for the two largest cryptocurrencies.
The strongest from the 10, however, was terra (LUNA), which rose by more than 72% during the month of February. Following the gains, LUNA is now within relatively close distance from its all-time high, right around 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 close to 70% from its all-time high of USD 3.1 from September 3, 2021. ETH, by comparison, is down by about 40% from its all-time high seen in November last year.
Looking now at the 50 largest coins by market capitalization, we can see that the majors such as BTC and ETH did perform relatively well compared to smaller altcoins in February, coming in as the 9th and 10th best performers.
Coming in as the top performer among the 50 largest coins was UNUS SED LEO (LEO), the exchange token
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