Token from Crypto.com was the best cryptocurrency of the first half

Token from Crypto.com was the best cryptocurrency of the first half

Taking into account the ten largest cryptocurrencies in market value, the token performed well above its competitors in the first half

Token from Crypto.com was the best cryptocurrency of the first half

By Editorial Staff

The token from Crypto.com was the cryptocurrency that most valued in the first half of 2020 among the 10 greatest marketcap currencies, with a rise of more than 250% in the period. This even caused the group of the ten largest cryptocurrencies to have an average return of 71%, therefore higher than the bitcoin, in an equally weighted wallet.

Chainlink’s token ranked second among the most valued digital assets in the first half of 2020. The asset had a 58% increase in the period. Chainlink is a blockchain that aims to create an out-of-chain settlement mechanism where traditional institutions, such as banks, can communicate with blockchains as well as open a protocol between chains.

The third place went to Cardano, an open source blockchain project developed in layers to run financial applications used by companies, consumers and governments around the world. The cryptocurrency had a valuation of 153%, very close to the second place. It is speculated that the rise is due to Shelley’s new update, the favorable market structure and the rapid growth of the decentralized finance market (DeFi).

Bitcoin was the sixth best cryptocurrency in the first half

Ether, the Ethereum’s token was only in the fourth place in the first half of the year. The token had a 78% appreciation in the period. Bitcoin SV, the fifth place in terms of profitability in the first half of 2020, presented an appreciation of 62%.  Ethereum was also favored by DeFi projects. On the hand the SV bitcoin possibly followed the bitcoin.

The market-leading cryptocurrency, in turn, ranked only sixth in the half year, with a dollar appreciation of more than 27%, therefore well below its peers. It is worth remembering that the price of the bitcoin has great influence on the market as a whole.

Among the top 10 cryptocurrencies, just Ripple’s token has devalued in the first half, falling about 8% in dollars. According to the market, the decline of XRP is related to the sales of tokens held by Ripple’s co-founder, Jed McCaleb.