Altcoin Analysis: Which Four Cryptocurrencies Rose the Most in Value Last Month?

March 4, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Last time we wrote about the good performance of Bitcoin in February. But the cryptocurrency market consists of more than two thousand different types of digital currency.

Over the past month, the total market value of all cryptocurrencies has increased by 14.4 percent. You can calculate this total market value by multiplying the total number of crypto coins by the prices of all crypto coins. That is the first monthly profit since July 2018. Bitcoin itself has risen by 12.1 percent since the beginning of February.

But also lesser-known cryptocurrency’s have increased considerably in value last month. Which coins are they? We make the comparison on the basis of market value and the data comes from comparison website Messari. With this website, it is possible to view the monthly performance of crypto coins.

Maker (MKR)

Monthly profit: +83.6 percent

Final price February: $663,20

Market value at the end of February: $0.63B

Maker (MKR) is the absolute winner of the large coins. In the month of February, the rate of this coin has increased by 83.6 percent. On February 24, MKR reached a value of $724, the highest point since October.

MKR tokens are used in cooperation with the crypto DAI, a stablecoin. DAI always has a value of one dollar but is not covered by the dollar itself. Instead, DAI is covered by MKR. MKR tokens are created or burned so that the price fluctuations of DAI remain limited.

Theta (THETA)

Monthly profit: +167 percent

Final price February: $0.14

Market value at the end of February: $0.12B

Of the middle segment (market value between 100 and 500 million) Theta token is the undisputed champion. The token increased by 167 percent in the value in February! This makes it one of the biggest climbers in the crypto market in February.

Theta is an open-source protocol on which users can stream decentralized programs. The token was developed in collaboration with SLIVER.tv, which facilitates sports broadcasts via the internet.

Enjin (ENJ)

Monthly profit: +180 percent

February: $0.08

Market value at the end of February: $57.68M

Of the smaller coins, Enjin (ENJ) rises the most. ENJ is the biggest climber in the crypto market besides Theta. The cryptocurrency increases by more than 180 percent in February!

In addition, a lot has been done in ENJ last month. In February more than $242 million were traded in ENJ tokens. That is a record, and also many times more than the market value of the currency itself.

The sudden increase may be due to the possible collaboration between ENJ and Samsung. Rumors are that South Korean Enjin will develop a crypto-wallet for the new Samsung Galaxy S10.

Metronome (MET)

Monthly profit: 43 percent

Final price February: $0.93

Market value at the end of February: $7.44M

If we look at the smallest coins, MET has performed the best last month. The cryptocurrency has increased by 43 percent compared to the beginning of this month.

MET is a token on the Ethereum blockchain. There is little information about Metronome (MET) on the internet, but it seems to be a token that makes it easier to send cryptos over different blockchains.

Author: Marko Vidrih

Charts via Highcharts.com