Q1 Crypto Market Recap: 21 Altcoins Doubled in Price in the First Quarter
The first quarter of 2019 has come to a close, marking the best three-month period for the crypto market in over a year.
While Bitcoin (BTC) put in a solid quarter with a respectable 11.7% gain, altcoins appear to be back in season with many coins seeing high double-digit and even triple-digit returns as they begin to recover from the 2018 sell-off.
According to data from Messari, 21 altcoins doubled in price in Q1 2018 (100%+), including major names like Enjin Coin (ENJ), Binance Coin (BNB), Tezos (XTZ), Ontology (ONT) and Basic Attention Token (BAT) — Litecoin (LTC) barely missed the cutoff at 99.69%.
Of the top-10 gainers, three have relatively small market caps below $25 million, Everex, Numeraire and Ripio. The actual top performer for the quarter was Ravencoin (RVN), although PCHAIN (PAI) holds that spot in the list. This appears to be a mistake caused by two coins using the PAI symbol — the $87 million market cap belongs to Project Pai while PCHAIN has an $8 million market cap, neither token is up 790%.
The ALT100 has gained 14.2% this quarter, outperforming Bitcoin by roughly 2.5%. The overall crypto market is now worth $148.3 billion, with Bitcoin making up 49.99% of that total.
UPDATE 9:59 PM (EDT): Updated to reflect the PAI symbol issue.
Disclaimer: This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.