The first quarter of 2020 will be remembered as a period when the coronavirus-led uncertainty set off a liquidity crisis in financial markets, forcing investors to sell everything, including bitcoin (BTC).
The top cryptocurrency, often touted as a safe haven, fell by 10 percent in the first three months of 2020.
While the cryptocurrency eked out 30 percent gains in January amid the U.S.-Iran tensions, it could not withstand the bearish pressures emanating from the global dash for cash in March.
The broader crypto market also suffered losses in the first quarter, as evidenced from the 5 percent decline in the total market capitalization, according to TradingView.
However, a few cryptocurrencies including the privacy coin dash and link, the native token of decentralized oracle network Chainlink, managed to put in a positive performance. Even the most actively traded cryptocurrencies have thin volumes compared to traditional assets like stocks and bonds, so ascribing market movements to fundamentals remains a tricky exercise in this young, speculative market. However, developments such as evidence of real-world adoption or new business partnerships may have played a role in these coins’ gains.
The following are notable winners and losers of the first quarter among 19 major assets featured in the forthcoming CoinDesk Quarterly Review. The list is curated to exclude cryptocurrencies with less than 12 months of trading history, and daily trading volume of less than $5 billion. The list does not include stablecoins. CoinDesk Research will publish the Q1 edition of the Review this month.
Quarterly performance: +63 percent
Rank by market capitalization: 19
Market capitalization: $606 million
Current price: $64
Dash (dash), the 19th largest cryptocurrency by market capitalization, jumped nearly 63 percent to register its best quarterly performance since the final ……………
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Original link: https://www.coindesk.com/as-crypto-prices-reeled-in-q1-these-coins-stood-out