Source: Adobe/Ingo Bartussek
August is over, and fall is upon us, however the crypto market stays as troublesome as ever to navigate. As we at all times do when a month has ended, let’s have a look within the rearview mirror to see how the crypto market has carried out over the previous month.
As a reminder, July was a comparatively good month for crypto, with many cash turning inexperienced after heavy losses earlier within the 12 months. The large winner for July among the many main cash was ethereum (ETH), which noticed sturdy positive aspects as pleasure across the coming Merge began to construct.
In August, nevertheless, issues didn’t go so effectively, with all cash within the high 10 by market capitalization seeing losses as the market downtrend resumed.
Top 10 cash in AugustSource: Coincodex.com, 03:45 UTC
Among the highest 10 cash by market capitalization, not a single one managed to publish positive aspects (if we exclude stablecoins). The sharply falling costs have been significantly notable on condition that cash like bitcoin (BTC) and ETH noticed positive aspects of shut to twenty% and 60%, respectively, the month earlier than.
Out of the highest 10 cash, solana (SOL) stood out as the largest loser in August, dropping near 25% to USD 31. The token was adopted by XRP, which fell by simply over 14% over the identical time interval to USD 0.324.
On the opposite aspect of the spectrum was Binance’s alternate token BNB, which fell by nearly 3% for the month to USD 277. The second-best performer was ETH, which noticed a comparatively modest fall of 6% to USD 1,567 as the group ready for the extremely anticipated Merge, or the community’s transition from proof-of-work (PoW) to proof-of-stake (PoS).
Best from the highest 50 in AugustSource: Coincodex.com, 03:45 UTC
Expanding our scope to the 50 largest cash by market capitalization, we are able to see that the very best performer – terra traditional (LUNC) – greater than doubled in worth. However, remember the fact that the doubling comes from an already low degree after the collapse of the Terra ecosystem earlier this 12 months, and that the LUNC token has been exceptionally risky ever since.
Over the course of August, LUNC rose 116% to a worth of USD 0.000225, with its market capitalization nonetheless remaining north of USD 1.5bn.
The second-best performer on this group was chiliz (CHZ), which gained near 55% for the month to USD 0.21, adopted by Bitfinex’s alternate token LEO, which rose by 14% to USD 5.8.
Worst from the highest 50 in AugustSource: Coincodex.com, 03:45 UTC
Looking now on the worst performers among the many high 50 cash by market capitalization, we are able to see that filecoin (FIL) tops the checklist with a drop of almost 40% to USD 5.75. The fall for filecoin in August comes after the identical coin greater than doubled in worth the month earlier than, buying and selling at near USD 11 as of the tip of July.
Second in line comes apecoin (APE), a token issued by and for the Bored Ape Yacht Club and Mutant Ape Yacht Club NFT group. The coin fell by 31% to USD 4.7 over the course of the month.
APE was intently adopted by SAND, the native token of the metaverse challenge identified as The Sandbox. The token dropped by near 29% for the month to USD 0.932.
Best & worst from the highest 100 in August
Looking additional out to cowl all cash within the high 100 by market capitalization, we are able to see that though many of the biggest cash fell in worth, some additionally noticed slightly sturdy positive aspects.
The high spots on the highest 100 checklist have been taken by the already-mentioned tokens LUNC and CHZ, adopted by crypto lender Nexo’s native token NEXO. The token rose by simply over 50% to USD 1.085 after the worst fears for an extra meltdown of the centralized crypto lending trade dissipated, and the corporate behind it confirmed that it’s going to proceed a token buy-back scheme.
At the highest of the checklist of the month’s worst performers was helium (HNT), a token issued for the aim of constructing “decentralized wireless infrastructure.” The token fell by 43% for the month of August to USD 5.15, after it was concerned in an issue round reportedly faux partnerships earlier this summer time.
Next in line got here the already-mentioned FIL, adopted by STEPN (GMT), which dropped by almost 31% to USD 0.665.
Compiled by Coinbold