Which Tokens Performed Best Last Quarter?

Plus ATHs for DEXes and some commentary on why bitcoin is poised to succeed

Happy (wish this were a joke) first of April, Blockfolians

The Lede

Last quarter was brutal by any accounting. Holding aside the incredible human toll, the markets were rough. The Dow was down 23% on the quarter, its worse Q1 ever. Bitcoin was down more than 10%.

The question is - did anything hold up? Well, CoinDesk did an analysis today of which tokens did best in the carnage, and which fell off a cliff.

q1-performance-of-crypto-assets

Interestingly, one researcher also noted that exchange tokens tended to be up against BTC.

What does it all mean? Honestly, it’s hard to draw conclusions when we’re still living in one of the most unique economic environments of all time. But until we have the benefit of retrospect, at least we can look at the numbers.

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Highly Relevant Reading

  • It’s not just legitimate commerce hurting - even black market bitcoin transactions are down!

  • Binance, because they can’t slow down for even one minute, is launching their own mining pool.

  • Two of DeFi’s most lauded and exciting projects - Uniswap and PoolTogether - have received $1.1m in funding via Coinbase.

  • Bitfury has become the latest crypto miner to donate mining power to Coronavirus research.


Community Commentary

It’s been a little gloomy, but check out this great thread from Coinbase’s Max Bronstein on why bitcoin is poised for a comeback
Want an explanation for, well, nearly everything? Hans from Ikigai Asset Management has you covered.

A Really Big Number We Should Be Paying Attention To

$668,000,000

That’s the total volume of DEX’s and non-custodial exchanges in February - a new all time high and 53% more than January.


Final Thought

The bitcoin code is now safely ensconced in an Arctic mountain, protected and preserved by GitHub for 1000 years.