Coin Race Top WinnersLosers of September and 3rd Quarter 2020

Today marks not only the end of September, but of the third quarter of 2020, as well as the beginning of the year's final quarter. Looking back at the market's performance in both the last month and the last three months we find both strong rallies and crashes. July, as we noted in detail, was a good month for crypto, to put it simply. The market went swiftly upwards, and the entire month ended in the positive color of green. Bitcoin (BTC) jumped to USD 11,000, touching USD 12,000 at the very beginning of August. But altcoins followed closely, with ethereum (ETH) nearing USD 400, and others going up as much as 50%, including XRP, cardano (ADA), and bitcoin SV (BSV). elrond (ERD) was the overall winner in the top 50 coins by market capitalization category, with aave (LEND) in the second place. August went a bit south. It wasn't a bad month for crypto, but it was certainly a mixed bag. The cause of the turbulence partly lay in the fast rise in popularity of certain decentralized finance (DeFi) projects, as yield farming became all the rage already in July. Some coins saw great gains, others went in the opposite direction. Bitcoin hit a yearly high, followed by a downward correction, while ethereum surpassed USD 450. On the other hand, the prices of the majority of the top 10 coins went down in August. Chainlink (LINK) was the winner among the top 10, having gone up by more than 90%, and REN won the top 50. And finally, September. It saw the continuation of the DeFi craze, with new projects entering the market. Meanwhile, Coin Metrics found that the 7-day average adjusted transfer value of ETH surpassed that of BTC for the first time since 2018, while a Santiment report stated that ethereum whales almost doubled their holdings in a month - and all this time, the total value locked in DeFi continued to rise. Only one single coin ended the month of September in green. Binance coin (BNB)'s price increased nearly 25%. Binance has been regularly pushing out updates, such as announcing the attempt to bridge DeFi and centralized finance (CeFi) via a new support fund. Meanwhile, token data and rating agency TokenInsight found that BNB was an undervalued exchange token. In the past 30 days, all other coins in the top 10 (not counting stablecoin tether (USDT)) have gone down - with bitcoin's 7% on the lower end, and past winner chainlink's 36% on the higher end of that spectrum. (As reported, September is historically the worst month of the year for the price of BTC, with an average return of -7%). Despite the DeFi boom, ethereum dropped more than 18%, which is the third-highest drop, behind polkadot (DOT) in the second spot. DOT went through a 1:100 split in August that also saw all token balances increase by 100x, keeping the value of all token holdings the same as before the split - following which, it entered the top 10 list by market capitalization. On the other hand, in the past quarter, this list looks the exact opposite.


All data is taken from the source: http://cryptonews.com
Article Link: https://cryptonews.com/news/coin-race-top-winners-losers-of-september-and-3rd-quarter-20-7872.htm


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