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While not many coins saw their prices rise in September, October brought a mini spring to the market. This was the month of bitcoin (BTC). It took the top spot among the top 10 coins by market capitalization, as well as the seventh among the top 50 coins. And as the winds of decentralized finance (DeFi) seem to have calmed down in October, some of his major projects ended the month in the red.
Top 10 coins
October was a completely green month for the top 10 coins by market cap. Excluding the stablecoin tether (USDT), all currencies have seen their prices appreciate over the past month.
And on top, as the October winner sits the number one coin, bitcoin. And while the attention it is gaining is constant, it has been a while since the most popular coin in the world was actually the winner in its class. However, last month it witnessed a significant rally, which pushed its price above USD 13,000 and towards the USD 14,000 level. We now see that bitcoin’s nearly 31% rise was high enough to beat the rest of the green list. In addition, the monthly candle, which shows the price differences on a monthly basis, closed above USD 13,000 for the first time since December 2017.
There has been speculation and analysis suggesting that bitcoin is set to climb even higher soon. Meanwhile, his fees were rising, while some transactions would take days to confirm. Also, according to the tools provided by the blockchain analytics firm In the blockWhile bitcoin has outperformed several major currencies over the past year, including ethereum (ETH), there are still more ‘in the money’ BTC holders.
Second place is occupied by another coin that rarely tops the list: litecoin (LTC), with a 21% increase. And this victory comes after the coin dropped from the top 10 towards the end of September. In the first week of October, Litecoin developers revealed that a long-awaited testnet with new privacy features, called Litecoin MimbleWimble (MW), was launched.
Many other coins have also appreciated significantly, these are chainlink (LINK) with almost 21%, continuing its growth, as well as bitcoin cash (BCH) with 18.5%.
The only other coin with a double-digit increase was ethereum (ETH), the price of which rose 13% in October. When it comes to the second coin by market capitalization, the Cryptoverse was still focused on “when ETH 2.0”, with the official date for Phase O of the second version of the network still in the air, despite some predictions.
The least appreciated was the polkadot (DOT) with an increase of less than 1%, but it is still good news for the coin as it fell the most in September.
The best winners of October
Unlike September, October gave us a complete list of the top 10 winners in the top 50 coins by market cap. According to Coinpaprika, the top two coins both appreciated by more than 250%, being SEELE and HEX, the latter of which returned after having its second largest decline in September, right after the polkadot. However, some cryptocurrency data providers don’t rank HEX based on market cap or rank this controversial coin much lower.
Compared to these two, thorecoin in third place (THR) increased by almost 74%. It is followed by the filecoin (FIL) token. This made a splash in October, with its creators finally releasing the long-awaited launch on the mainnet and the coin experienced wild swings less than 24 hours later. Overall, during this month, it appreciated by over 61%, making it one of the 4th best performers in the top 50 category.
Half of this list recorded increases in their respective prices between 30% and 36%. The two coins to appreciate less, but still show double-digit increases, are monero (XMR) and litecoin, respectively.
Best defeated in October
Last month also saw its fair share of red. Yearn.finance (YFI) tops this list, dropping more than 50%. This DeFi treasure was beating BTC to the top spot as the most valuable cryptocurrency on the market, reaching a value of nearly $ 44,000 soon after its listing. Since then, however, it has lost its crown to BTC.
Another much-discussed new-issue coin from the DeFi project, uniswap (UNI) follows with a drop of almost 44%, while the crypto.com (CRO) chain considers the third sport to be the only other coins with a decline above 40%.
Two coins with the smallest falls in October – among the top 10 largest falls, that is – are vechain (VET) and NEM (XEM), both down more than 17%.
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Among the best performers in the top 100 clubs we also find SEELE, HEX and FIL, while YFI, UNI and CRO are among the worst here too.
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This article was updated at 11:36 UTC to add more details about the HEX coin.
