The crypto market snowballed during this month. While the whole world went into uproar due to the China virus outbreak and the major futures collapsed along with entire markets, cryptocurrencies continued to hit records. Of course, there were losers along with the gainers. Now that the month is almost over let’s see how the stocks settled.
Bitcoin SV (BSV) rose to 178%, from $96.7 to $268.67. At one point, it hit the record at $422 high in January, becoming one of the most discussed cryptos. But how did it manage this? One of the Twitter users connected BCH mining with BSV wash trading – a brilliant scheme that catapulted BSV into the top five coins by market cap in just a few days.
Ethereum Classic (ETC) grew 83% ($4.49 to $8.21). Binance listed ETC futures, causing its rally. After the short downfall, the crypto managed to up its price again.
Gulden (GLD) gained 217% ($0.006004 to 0.019026). This one appeared in 2016 as a fork of Litecoin. Gulden was supposed to become the national cryptocurrency of the Netherlands. And though it still has a long way to go, in the first three weeks of January, GLD grew 3.34 times.
Zcoin (XZS) increased with 75% ($2.98 to $5.21). This privacy-focused currency was founded in 2016. It launched a crowdfunding system like the one used by Monero. The project gave it a good boost, though 2020 may still prove hard on privacy cryptocurrencies.
DASH hiked by 151% ($41.02 to $102.91). This crypto surpassed even the dubious BSV, becoming the biggest winner in the rally. DASH gained 40% on January 15 before losing the part of the profit later. After Bitcoin, it is the most popular crypto in Venezuela. DASH could increase more, as the people are using crypto to hedge against hyperinflation there.
On the other hand, Karatgold Coin (KBC), Newton (NEW), Troy, Insolar (INS), and Seele lost this month, ending the session in the red.
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