Things in the crypto market change in a single day. Did anything change for the better this month? Let’s find out! Here’s a crypto market review for February 2019!
February 23 saw a new high in the crypto market. As predicted by the crypto experts, Bitcoin managed to break the $4,000 resistance and then went up to $4,200 before the price went down slightly. Obviously, altcoins followed the lead.
Sadly, the new high didn’t stay long. A violent dump of $17 billion followed in just a few hours. By the way, this was the largest single-day dump this year!
Crypto once again showed what they’re capable of, although some developments were not quite something we expected.
What coins made it to the top… or ‘did it again’ this month?
Ethereum landed amongst the top performers. Its price surged and settled at $165, its highest level since mid-November 2018. Speaking in general, over the last week, ETH volume reached its highest level for over a year! However, it wasn’t long till its price dropped to $140. We hope that the price will go up again when the Ethereum Constantinople hard fork finally occurs tomorrow, February 28.
February top movers also include NEO and Maker, which managed to take their prices to $10 and $755 respectively. Other big movers were Ontology, NEM, and Monero.
February didn’t turn out well for some cryptocurrencies. EOS and Bitcoin Cash suffered the biggest losses, falling to $3.60 and $133 respectively. Litecoin and Stellar also lost some of their weight in value. Another coin that suffered massive losses was Cardano.
We can’t really call Tron and Binance Coin losers as they only shed about 6%, but still. XRP is next line, having lost only about 10%.
Total market cap needs recovery as February brought a dump of $17 billion in a single day. The last time the crypto market saw such a low was on January 10-11, 2019, when more than $15 billion was lost in a single day.
Let’s wish the crypto market a speedy recovery and hope for significant price corrections in the upcoming month!
See you in March!
The CoinMetro Team