As the first quarter of 2021 draws to a close, here are the five best-performing cryptocurrencies, with a market capitalization of above $1 billion, for the period.
The list does not include Bitcoin (BTC) and Dogecoin (DOGE), even though they rose 101.14% and 852.15% in Q1 respectively. BTC traded 0.19% higher at $58,851.88 while DOGE traded 0.23% lower at $ 0.054 at press time.
See also: How to Buy Dogecoin (DOGE)
Content Value Network (CVNT)
CVNT soared a whopping 41,532.67% in the first quarter to about $2.96. The content distribution platform was launched on Huobi Global in January 2019.
Dent (DENT)
DENT skyrocketed 6,367.68% in the first quarter at $0.0125.
The token is associated with Dent Wireless, which calls itself the first digital and mobile operator. According to Cointelegraph, there are rumors making the rounds of Reddit that Dent might partner with Tesla Inc TSLA CEO Elon Musk’s Starlink. The company announced an eSIM reseller platform on Wednesday.
On its website, Dent highlighted milestones which include optimized connectivity for the Tokyo Summer Olympics.
Pundi X (NPXS)
NPXS shot up 4,409.95% in the first three months of 2021 at around $0.0077.
This month, the token saw a massive spike thanks to token staking, reduction, and positive sentiment surrounding the altcoin market. Creator and CEO of PundiXLabs confirmed the token reduction and staking news. He also said Decentralized Finance farming was coming.
Harmony (ONE)
ONE rose 4,166.84% in the quarter. The cryptocurrency traded 2.71% lower at $0.183 at press time.
ONE reached its all-time high of $0.2233 on March 29. Developer Péter Szilágyi called out Harmony for violating Ethereum software licenses this month. ONE gained mentions on social media and was one of the top tickers on Stocktwits.com trending streams in mid-March.
In January, the blockchain company released its 2021 roadmap. Harmony offered a limited edition of 100 Atari Centipede, an 1980's fixed shooter arcade game, capsule collections as non-fungible tokens on Wednesday. Those were sold out in less than 1.5 hours.
Terra (LUNA)
LUNA gained 2,746.95% in Q1. The coin traded 0.99% higher at $18.55 at press time.
The cryptocurrency touched its all-time high of $22.33 on March 21. The blockchain associated with LUNA uses fiat-pegged stablecoins to power global payments systems.
This month TerraUSD and associated UST stablecoin saw huge demand from Mirror, Terra’s synthetic assets protocol. In order to meet the demand 80 million LUNA were burned to mint 447 million UST, which reduced LUNA’s circulating supply to 404 million from 484 million thus pushing up prices, according to Cointelegraph.
Another event that reportedly buoyed LUNA was Robinhood’s trading ban on GameStop Corp. GME, BlackBerry Ltd BB, and AMC Entertainment Holdings Inc AMC stock which may have led a large swathe of traders to decentralized exchanges and synthetic assets.
See also: Best Altcoins in 2021
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
