These two altcoins have surged 400 and 500 percent in Q2 2020; here's why

Published on by Cryptoslate | Published on

The Swiss cyber bank saw its token rise 395 percent since Apr.

1, while the smart token liquidity provider increased just over 500 percent in the last three months.

There are two days left before the second quarter of the year comes to an end, but it's not too early to tell which cryptocurrencies experienced the biggest price rallies in the past three months.

At current prices, Bancor's price is up 500 percent since Apr.

SwissBorg, on the other hand, saw its price increase nearly 400 percent in the past three months, reaching an all-time high of $0.14435 on Jun.

Aside from tracking the increase in price both of these tokens saw, IntoTheBlock's report revealed another interesting metric both of the quarter's top performers share-correlation to Bitcoin.

IntoTheBlock's analysis calculates the 30-day price correlation between the price of a token and the price of Bitcoin.

A correlation coefficient between 1 and 0.5 indicates a strong correlation between the token's price and Bitcoin, which means they tend to move in the same direction.

A correlation below 0.5 points shows that there's a moderate to low correlation, while a negative correlation shows that the token's price movements move in the opposite direction of Bitcoin.

SwissBorg, on the other hand, currently has a correlation coefficient of -0.32, showing that there is evidence of a slight inverse relationship between its price and Bitcoin.