Over the past 3 months, some cryptos have stood out for their remarkable performance. Find out which ones and the potential reasons for such performances.
Altcoins Correct, But Some Hold Out
Over the past 3 months, the crypto market has undergone a sharp correction. Despite the hype surrounding the approval of Ethereum spot ETFs in the US, Ether has seen a significant decline of 32% over the past 3 months. As a result, the price of Ether is currently at $2,500.
Bitcoin has also suffered a significant decline, with its price falling by 12% over the past 3 months.
But the biggest losers in this correction are undoubtedly the altcoins, which are taking the full brunt of the correction with generally very negative performances. The price of BTC is currently at $60,000.
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Despite this, some altcoins are emerging from the dreary torpor reigning over the crypto market and are showing remarkable performances.
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The 5 cryptos that performed the best in the last 3 months
Among the altcoins, here are the 5 cryptocurrencies that have outperformed over the last 3 months (among the top 100 most capitalized cryptos):
The 5 cryptocurrencies that outperformed the crypto market over the last 3 months
5 – Aave (AAVE)
In 5th position in this ranking, with a performance of +17% over the last 3 months, we find the AAVE. AAVE is the governance token of the eponymous decentralized finance (DeFi) platform, allowing you to propose or vote for future implementations on the protocol.
Recently, there has been a palpable buzz around AAVE following a proposal by Marc Zeller, the founder of the Aave Chan Initiative (ACI). This proposal, which was well received by the community, consists, among other things, of establishing a new mechanism for redistributing surplus income as well as implementing new security mechanisms.
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4 – Kaspa (KAS)
Next in 4th place is Kaspa’s KAS. With the KAS token price currently hovering around $0.6, The token has climbed by almost 18% over the last 3 months.
Kaspa is a layer 1 blockchain that runs on proof of work and came into the spotlight following the Ethereum blockchain merger, which led to the latter switching to proof of stake. The network, known for its BlockDAG system, aims to fill the gaps in Bitcoin.
KAS has not seen a dizzying rise in the last 3 months, but more of a seesaw movement with an upward trend in the medium term. Although its performance is not out of the ordinary, Kaspa's cryptocurrency has nevertheless managed to extricate itself from the bloodbath suffered by the majority of altcoins.
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3 – Zcash (ZEC)
In 3rd place in this ranking, we find ZEC with a performance of +22% over the last 3 monthsIn a nutshell, ZEC is the native cryptocurrency of the Zcash network, which was created with the aim of offering an alternative to Bitcoin with enhanced anonymity.
Although the reason behind the ZEC price increase is still unclear, interest in privacy coins seems to be back. Indeed, philosophical debates such as freedom of expression and state-imposed censorship of social networks are coming back to the forefront, notably with the arrest of Telegram CEO and Marc Zuckerberg who denounces the pressures suffered by the US government to censor content on Facebook.
2 – Tron (TRX)
In second place in this ranking we find: the TRX, with a remarkable performance of +43.6% over the last 3 months. TRX is the native cryptocurrency of the Justin Sun-founded ecosystem, Tron.
The reason for such a performance is certainly linked to the launch of SunPump, a launcher of tokens, and more particularly of memecoins. Indeed, after the hype of the same type on Solana, speculators now seem to turn to the Tron network.
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1- Helium (HNT)
In 1st place in this ranking we find: the HNT token with a quite remarkable performance of +59% over the last 3 months. HNT is the token of the Helium blockchain, built on Solana. It is primarily used to reward network participants, who interact with each other by communicating and sharing information.
The principle of Helium is to relieve mobile telephone networks by deploying a large number of routers, called Hotspots, which take over when these networks are overloaded.
Despite such a remarkable performance, the reason for such a rise in the price of the HNT token remains unclear to this day.
👨🏫 Helium (HNT), reinventing the connectivity of the Internet of Things thanks to the blockchain
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Source: Coincodex
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