As the cryptocurrency market picks up at the start of 2023, investment opportunities are flourishing again. Let’s do together a summary of the 5 cryptocurrencies that achieved the biggest performances in January.
The 5 Most Rising Cryptos
At the start of 2023, the cryptocurrency market surprised the majority of analysts. Beyond the beautiful rise of more than 30% of Bitcoin (BTC) and Ether (ETH) in the space of a few days, some altcoins have performed very well.
In this article, we offer a ranking of the 5 best performing cryptocurrencies in January. For information, we have chosen to consider only the 100 most capitalized assets on the market.
Ranking of the 5 best performing cryptocurrencies in January 2023
Number 5: Frax Share (FXS)
Frax Finance is a liquidity staking protocol that notably issues the FRAX stablecoin, whose value is partially secured by collateral and partially stabilized algorithmically. The protocol governance token, the price of Frax Shares (FXS) has experienced an exceptional increase of 120% in the space of 30 days.
As the Shanghai update is fast approaching on Ethereum (ETH), protocols offering liquidity staking have experienced an exceptional resurgence of interest at the start of the year. Exactly, Frax allows you to stake ETH and receive frxETH in return and thus continue to enjoy the benefits of decentralized finance (DeFi).
The main advantage of this protocol is its large treasury of CRV and CRX tokens, allowing to obtain better returns on Ether staking. As for the FXS token, it allows its holders to share part of the rewards of the protocol. This is one of the reasons FXS has seen such a surge.
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Number 4: Fantom (FTM)
This beginning of 2023 has also been marked by a strong push in layer 1 type blockchain cryptocurrencies. We have talked a lot about the great performance of Solana (SOL)which is starting to come back up after the FTX affair, but one of the biggest performances of the year is at another layer 1: Fantom (FTM).
👉 Find out more: The complete guide to Layer 1
The price of FTM, the coin of the Fantom blockchain, has realized an excellent performance of 131% since January 1, 2023. It is currently trading around $0.46.
Rumors Andre Cronje’s return have something to do with it. The co-founder of the Fantom ecosystem was notably invited to speak at the Quantum Miami conference this week.
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Number 3: Lido DAO (LDO)
In the same way as Frax Finance, Lido is a Liquidity Staking solution on Ethereum. This allows users to stake various assets without having to have technical skills and can continue to benefit from the liquidity of their cryptocurrencies.
When an individual locks his ETH, he receives in return stETH which can for example be used later as collateral for borrowing. the LDO is the governance token of the protocol and he saw his course climb 132% over the last 30 dayss.
The success of Lido and its governance token LDO can be explained for the same reasons as those mentioned in the case of the FXS.
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Number 2: Optimism (OP)
Optimism is the first optimistic rollups solution to have emerged. Dedicated to improving the scalability of Ethereum, these sidechains had the wind in their sails in 2022.
Launched in June 2022 via an airdrop, the OP token had not really experienced a bullish period. On the bottom of rumors of a potential new airdropusers are active in making the most of the protocols of the Optimism ecosystem, which takes advantage of this to increase in value.
The course of the OP exploded 140% since the beginning of January 2023. He even took advantage of it to list a new all-time-high (ATH) at a price of $2.5.
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Number 1: Aptos (APT)
The big winner at the start of 2023 is the APT from Aptos. For history, this layer 1 type blockchain was born from the ashes of the Diem project (or Libra) from Meta. Part of the team decided to found Aptos Labs and the eponymous blockchain.
This is revolutionary in several ways. First by using a new programming language, then by exploiting a new consensus method. the APT from Aptos launched in October 2022 through a massive airdrophaving also revived investors’ interest in this practice.
Having also never experienced a bullish period, the price of APT very quickly crossed its historic high of 13 dollars (when it was listed). With outstanding performance of 395%he has been sailing in price discovery for several days now.
👉 All about Aptos, this ultra-scalable 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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