When you think that the last year was probably one for the worst years for cryptocurrencies, the first quarter of 2019 has been relatively bullish. The first few months of this year has seen the market record its first quarterly increase in overall network valuations since the fourth quarter of 2017.
Funnily enough though, Bitcoin is among the least significant price gainers so far this year while still flashing a noteworthy increase in the first quarter of around ten percent. Essentially, this means that it is a sizable portion of the market’s recent growth which came from the many other cryptocurrencies trading on exchanges today.
According to data from Messari, they show that around 120 cryptocurrencies increase more in price a year to date basis than Bitcoin with numerous boasting triple-digit percent increases during that time.
As a result of this, the network’s value of all cryptocurrencies came within one percent of surpassing that of Bitcoin’s in March.
So today, let’s take a look at some of the biggest moments in the crypto space for the first quarter of 2019.
As reported by CoinDesk:
“There is a wide spectrum of assets, in the cryptocurrency market. These range from some of the biggest, like ethereum (close to $15 billion), to the smallest, like dancoin (DAN), which is worth just over $3 million. Hundreds of networks fall in between.”
The highest ranked cryptocurrencies in terms of asset size always tend to be the most well-known coins in the industry and data shows that they aren’t always the strongest performers.
Binance Coin was one of the digital currencies that performed exceptionally through the first quarter with the price nearly tripling in this period.
Ravencoin’s performance surpassed all other medium cap cryptocurrencies with an increase of almost 400 percent in the first quarter. Interestingly, the majority of this increase all occurred in March when the price jumped up to the $0.060 mark.
Pchain was the best performer in the small-cap segment as well as the single strongest performer in the whole cryptocurrency market with an increase of more than 780 percent according to data from Messari.
In the end, the first quarter was great for the cryptocurrency space and some well-needed optimism flooded back into the mind of the investor.