CoinMarketCap has been consolidated by cryptocurrency lovers for impartial and transparent tracking of all cryptocurrencies in the marketWhen a new token or coin is launched, the first reactions look for information on this website.
In this way, tools for market price measurement and analysis are offered, taking various aspects into account A list has been released that includes the top ten cryptocurrencies that performed best in the first quarter based on market capitalization.
The study shows that OKB comes first with a positive increase of 147.25%, followed by BSV with more than 72.90%. In third place is CRO with 61.34%, in fourth place DASH with 58.47%; Fifth place is ZEC with an advance of 27.38%. LEO ranks sixth with 27.38%; then in seventh place is LINK with 25.67%; Eighth place for XTZ with 19.71%, ninth place for XEM with 11.85% and last place in tenth place is INO with 11.06%.
If they are on the list, there are coins known as Tezos, Bitcoin SV, Zcash, and others that are less known. It is not expected that Bitcoin, Litecoin or Ethereum are not on the list because In this analysis, the prices of the currencies were not taken into account, but the recording of new investments. This expanded currency diversification in the first quarter.
What influenced the behavior of cryptocurrencies to maintain market capitalization?
OKB is a utility token that was issued by the OK Blockchain Foundation, acquired by OKEx, and has developed more than 50 token use scenariosThese include the OKEx payment in Jumpstar (Exchange) as well as loans, asset management and wallets. What could mean the most to OKB’s market cap was the announcement that it would buy back and burn more than 700,000 tokens that were not issued in connection with the promise not to issue additional tokens in the future, which made OKB absolutely deflationary.
In second place is BSV, it’s the well-known fork of Bitcoin Cash, and its main function is to maintain a stable protocol and enable infinite scaling in the chain. Last February’s bifurcation could be one of the causes of market capitalization, as this bifurcation traced the protocol almost entirely back to the original Bitcoin developed by Satoshi Nakamoto.
But in addition to this technical aspect, There is an advertising aspect from BSV, which is involved in the fight against opium addiction in the health sector, also the use of applications related to the ecological supply chain and a system to ensure transparency and fairness in eSports, which has occasionally led to the overcoming of Bitcoin transactions.
Then there is CRO, a Crypto.com utility token that enables inter currency settlement between assets in the native Crypto.com chain. Use CROs to directly conduct lower commission transactions. In the first quarter of this year, they expanded, partnered with Ledger, innovated Crypto.com Pay Invoices for Mechants, expanded the markets to India, Kenya and Nigeria and introduced a card in the UK. All of these investments, innovations and partnerships have managed to finish third in the quarterly ranking.
Dash ranks fourth in the ranking and has been defined as digital cash since its inception in 2014. Many lovers of using this currency define it as Crypto PayPal. Dash’s increased capitalization may respond to the launch of the platform in a custom test environment, allowing developers to access the network and logs while using a different computing server. This is a solution that has been largely adopted because it fixes performance and scalability issues that most DApps platforms suffer from.
The massive presence in a country like Venezuela, for example, creates this capitalization. The use and acceptance of Dash in Venezuela is even surpassed when exchanging currencies like Bitcoin. Dash saw a 562% increase in acceptance on Android devices in Venezuela by installing the wallet and using the payment application in stores in the Latin American country.
The fifth place goes to the cryptocurrency Zcash, which was defined as a decentralized open source currency and enables selective transparency in transactions.. The peculiarity of this network lies in the selection of data protection. It was created with the particular intent of maintaining anonymity in transactions, and therefore the alternation of information disclosure is embedded in the network.
However, the announcement of a new, more decentralized governance project for the network has thrilled many, and with it the growth of the cryptocurrency. The project’s consensus to improve user incentives, as the new funding system favors at least 8% of project earnings for independent developers.
These are the top five in the rankings, but they have dramatically increased their market cap Currencies such as LEO, LINK, XTZ, XEM and INO also saw remarkable growth. In the case of LEO, a token that runs on the Ethereum platform and is used by Exchange Bitfinex to enable the interoperability of the partners of this exchange quickly and economically.
ChainLink’s Link saw historic price growth in February that undoubtedly attracted the attention of investors and users, and opened up new markets.. Indeed, it was recently announced that Tezos (XTZ) and ChainLink (Link) have partnered to improve the interconnection of the intelligent contracts offered by ChainLink. This obviously caught the eye and was reflected in the market for both currencies with positive data.
In the end NEM Coins (XEM) announced a change of name and logo. A partnership with the Lithuanian central bank and a partnership with LuxTag to support Malaysia’s first STO would be one of the main reasons that would have a positive impact on the market. For its part, the InoCoin (INO) currency is configured as a platform on which donations for technological projects can be collected, but which are particularly sponsored by young people. The use of cryptocurrency goes beyond pure financing, but is also explained with a payment method within the ecosystem.