The top 5 best performing cryptos in September

The 5 cryptos that performed the best in September

While Bitcoin is about to record its best performance for the month of September for more than 10 years with a 9% increase in its price over the last 30 days, Ethereum's ETH is struggling to keep up with only 4% increase over the same period.

However, BTC seems to be gradually giving way to altcoins in terms of dominance in the crypto market. Indeed, if Bitcoin dominance were to change polarity in the coming weeks, a scenario of a “ alt season » would then be possible.

However, some altcoins are not waiting for such favorable momentum and are already showing remarkable performance:

The 5 cryptos that performed the best in September

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5 – FTX Token (FTT): + 60%

With an increase of 66% in the last 30 daysthe FTT token of the infamous cryptocurrency exchange platform FTX is positioned in 5th position in this ranking.

This increase in the price of the FTT token is surprising to say the least. Indeed, we very recently learned that $230 million will soon be returned to FTX shareholders. This decision created controversy, because in bankruptcy proceedings, it is usually the creditors who are reimbursed first.

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4 – Sei (SEI): + 60%

With a clear increase of more than 60% over the last 30 days4th place in this ranking is attributed to the SEI token of the eponymous blockchain.

Sei is a layer 1 blockchain, optimized for decentralized exchanges (DEX) and high-frequency trading applications. It uses a Tendermint consensus mechanism, based on the Cosmos SDK, and stands out for its ability to handle high trading volumes with low latency, making it suitable for demanding trading environments.

💡Discover our information on the Sei blockchain

Although the reasons behind such a rise are still unclear as of now, we can notice a sharp rise in Sei's Total Value Locked (TVL). During the month of August, the project's TVL was just $66 million. As I write these lines, Sei's TVL is close to $210 million.

We can also notice a substantial increase in active addresses on the Sei networka movement initiated in August to become almost organic in September.

3 – Fantom (FTM): + 65%

The FTM token of the Fantom blockchain rises to 3rd place in this ranking by displaying a 65% increase in the last 30 days.

In a few words, the Fantom blockchain aims to resolve the famous blockchain trilemna by proposing a mechanism for unique consensus called Lachesis based on an asynchronous Directed Acyclic Graph (DAG) protocol which allows fast transactions with low fees.

💡Discover our profile on the Fantom blockchain

The main reason identified behind the rise in the price of the FTM token is the rebranding of the Fantom blockchain for Sonic. Beyond the name change, the blockchain will soon be compatible with the Ethereum Virtual Machine (EVM).

Although there is nothing confirmed to date, the transition from Fantom to Sonic could suggest an airdrop and could therefore justify the interest recently shown in the FTM token.

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2 – Nervos Network (CKB): + 105%

In second place in this ranking we find the CKB token from the Nervos network. The CKB course had a remarkable increase of over 105% in the last 30 days.

Nervos Network is a blockchain that aims to provide scalable and interoperable infrastructure for decentralized applications (dApps). It is based on a multi-layer architecture, in which layer 1 Nervos CKB ensures security and decentralization, while layers 2 are dedicated to scalability.

We can identify 2 reasons that may have caused the rise of the CKB token:

• The launch of the CKB token on the South Korean cryptocurrency exchange Upbit caused strong enthusiasm for the CKB;
• Nervos has launched RGB++, an extension protocol for Bitcoin, designed to improve the latter's compatibility and resolve its scalability issues via the Lightning Network.

1 – Sui (SUI): + 115%

In first position in this ranking, we find the SUI token from the eponymous blockchain with an increase of 117% in the last 30 days.

Sui is a layer 1 blockchain designed to deliver very fast performance for decentralized applications (dApps) and blockchain games. It is based on a consensus mechanism based on Proof-of-Stake (PoS) and uses a parallel transaction model, which allows it to process several transactions simultaneously.

Last week, we produced an article focusing on the SUI cryptocurrency and the potential reasons for its remarkable rise. We were able to identify several avenues likely to have caused the increase in SUI:

• SUI Total Value Locked (TVL) Hit New Highs (ATH);
• The number of active addresses has increased significantly since the beginning of September;
• Grayscale has launched a new SUI-indexed investment fund;
• SUI's market cap has reached a new ATH of $4 billion in market capitalization.

Over the last 24 hours, the price of the SUI token increased by more than 3%trading at $1.7 per unit.

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Sources: Coincodex, Defillama

Passionate about the blockchain ecosystem, I like to deepen my knowledge and share my discoveries. In a perpetual quest to learn more about cryptos, I recently joined the Cryptoast Research team where I provide weekly fundamental analysis.

Theo Zananiri

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