[Crypto Asset Watch Q1 2019] 21 Altcoins Double In Value In The First Quarter Of 2019
As the first quarter of 2019 comes to a close, it is the closest to a successful quarter the ecosystem has seen since its downfall in early 2018. Not only did bitcoin earn over 11% in these three months, but altcoins also seem to be in fashion.
Notably, 21 altcoins have doubled in value in this time, which includes prominent projects like Enjin Coin (ENJ), Binance Coin (BNB), Tezos (XTZ), Ontology (ONT) and Basic Attention Token (BAT). Interestingly, Litecoin (LTC) narrowly missed the cut by making a gain of 99.69%.
The top gainer is PCHAIN (PAI) which made an insane jump of 792.16%. Ravencoin followed up by an increase of 364.64% followed by Everex (EVX) which rose by 364.44%. Top5 coins in the list have mostly relatively small projects with only Ravencoin and Enjin Coin (ENJ) having a market cap of over a $100 million.
Binance Coin (BNB), a project worth close to $2.5 Billion had an increase of 194.69% which places it 6th on the list. The other popular Exchange based cryptocurrency, Huobi Token (HT) also gained over 175% in the same period. The price of Huobi Token (HT) on January 1, 2019, was $1.07 which increased to about 2.74 on 21st March 2019.
Other notable names on the list are Basic Attention Token which also had an amazing first quarter. It rose by 116.46%. The dominance of Bitcoin [BTC] at the start of the year was 51.7. During the second week of February, it reached a yearly high of 53.5%. However, it is down to 50.2% on 31st March 2019.
Litecoin was also in the list at the 22nd spot. Charlie Lee had earlier tweeted about their change in gameplan which might have led to the success. He had stated:
“Fungibility is the only property of sound money that is missing from Bitcoin & Litecoin. Now that the scaling debate is behind us, the next battleground will be on fungibility and privacy. I am now focused on making Litecoin more fungible by adding Confidential Transactions.”
Among other top projects, Ethereum gained 5.9%, mostly due to the mixed reactions from the Constantinople update. XRP had a pretty bad first quarter losing 11.7% of its value. They had briefly overtaken ETH to be the second biggest crypto project.