Dismal? Not quite, but the crypto markets had a rough ride in February.
What began with a sell-off in bitcoin, one that pushed the total market capitalization of all cryptocurrencies to a 10-week low of $276 billion, has ended in a seeming recovery, with the total value hitting $450 billion Thursday to end February trading.
Comparing performance to January, the market saw a decline of 8.5 percent month-over-month, and a decline of 45.78 percent from its 2018 record high of $830 billion.
That's not to say there weren't gains to be had. Bitcoin, the largest cryptocurrency by market capitalization, saw a "V-shaped" recovery, while fifth-place litecoin notched monthly gains.
Current market price: $559. Rank as per market capitalization: 25.
Courtesy of the meteoric increase, DGD is now the 25th largest cryptocurrency by per market capitalization, putting into large-cap territory.
Current market price: $208. Rank as per market capitalization: 5.
Litecoin clocked a high of $251.90 on Coinbase's GDAX exchange on Feb. 20 as investors bought in to make free money via the litecoin cash hard fork.
Airdrop aside, gains could be associated with Litecoin Founder Charlie Lee asserting his belief that the cryptocurrency could overtake bitcoin cash in market cap this year.
Having rallied more than 140 percent from the Feb. 6 low of $7.39, OmiseGo's ICO token ranks third on the list of gainers among top 25 cryptocurrencies by market capitalization.
Litecoin Booms in February But 'Golden' Crypto Takes Price Podium
Published on Mar 1, 2018
by Coindesk | Published on Coinage
Mentioned in this article
Darknet, cryptocurrency and two intersecting health crises
These even include teenagers who run Bitcoin drug businesses on the darknet.
Centralized finance is necessary, especially for DeFi crypto investors
If you're paying attention to developments in the cryptocurrency space, you've likely heard of decentralized finance and of the yield farming trend that helped it get over $9 billion worth of crypto assets locked in it.
Ultimate Bitcoin bull case: trader says 23 factors show a rally is due
A pseudonymous Bitcoin trader outlined 23 key technical and fundamental factors that could buoy BTC's medium-term bull case.
Banks must establish infrastructure for digital assets before it's too late
In the middle of the year, the digital asset custody industry saw welcome developments when the Office of the Comptroller of the Currency officially announced that all nationally chartered banks in the United States can provide custody services for cryptocurrencies.