While Bitcoin (BTC) ended February up slightly, some cryptocurrencies performed better. Let’s take a look at the 5 best performing digital assets in February 2023.
Top 5 Cryptos
After an exceptional month of January, Bitcoin (BTC) was more feverish in February, marked by short-term profit taking by investors. The king of cryptocurrencies closes on a slight increase of 0.28%, therefore chaining a second consecutive month in the green.
Nevertheless, many altcoins have taken advantage of this to achieve remarkable performances. Let’s find out together the ranking of the 5 best performing cryptocurrencies for the month of February. Note that we only focus on the top 300 most capitalized assets.
The top 5 best performing cryptocurrencies in February 2023
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5 – RSK Infrastructure Framework (RIF)
With a performance of 200.5% in the space of 30 days, the RIF of RSK Infrastructure Framework now evolves to 227th place in the ranking of the most capitalized cryptocurrencies. RIF is a toolbox providing the ability to easily build decentralized finance (DeFi) related service solutions.
In other words, a company or a protocol can use the various RIF products (fiat to crypto money transfer, stablecoin staking, decentralized borrowing, salary payment in cryptos, etc.) and implement it automatically on its own service.
This project has particularly attracted attention thanks to the recent craze surrounding the arrival of NFTs on Bitcoin. Indeed, RIF has launched RIF Flyover, a bridge allowing users to enter the Rootstock ecosystem, a smart contracts platform on Bitcoin.
4 – SingularityNET (AGIX)
With $623 million capitalization, SingularityNET (AGIX) is currently ranked 78th among cryptocurrencies the most capitalized on the market. In February, the AGIX printed 204% upside.
We had already mentioned it in the top 5 best performing cryptocurrencies in the Artificial Intelligence (AI) sector in early February. From, SingularityNET’s AGIX continued its bullish rally by benefiting from the enthusiasm surrounding this sector of activity.
As a reminder, SingularityNET is a marketplace to create and sell artificial intelligence algorithms. This is both based on Ethereum (ETH) and Cardano (ADA) and explains that it wants to work on interoperability between these two blockchains.
3 – FLEX Corner (FLEX)
In 3rd position of this ranking and with a performance of 213%, we find the FLEX Coin (FLEX) of the eponymous centralized exchange platform. An increase that may surprise in view of recent news from the company.
In June 2022, the platform had announced the suspension of withdrawals for its users, before announcing a recovery plan last October. Additionally, it is currently in a dispute with Blockchain.com over a $4.3 million debt.
2 – Stacks (STX)
With an increase of 234%, Stacks (STX) is now at the 42nd position of the most capitalized cryptocurrencies. The price of this asset has benefited greatly from the current excitement around the potential development of DeFi on Bitcoin.
Stacks can be compared to a second layer solution on Bitcoin. This technology makes it possible to create smart contracts and develop decentralized applications, while taking advantage of the security provided by Bitcoin.
1 – Conflux (CFX)
Finally, with an exceptional performance of 301%, the first place in this ranking is assured by the CFX of Conflux. In question, recent rumors around China’s interest in Web3 and cryptocurrencies.
Indeed, Hong Kong is currently reopening to our ecosystem and China seems to be discreetly validating the ambitions of the autonomous territory. For this reason, many Asia-related assets benefited from these rumors and saw their prices appreciate greatly.
In a few words, Conflux is a hybrid blockchain, halfway between Proof Of Work (PoW) and Proof Of Stake (PoS). The company has also recently signed a partnership with China Telecom, second mobile operator in China, to develop SIM cards compatible with their blockchain.
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Journalist for Cryptoast, I strive to dissect every detail of the exciting world of cryptocurrencies and make it accessible and understandable to as many people as possible.
Lilian Aliaga
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