August was another difficult month for cryptocurrencies. Concerns over inflation and rising interest rates pressured risk assets, pushing Bitcoin and Ethereum prices down.
Bitcoin witnessed a drop of around 14% last month and is down about 58% year to date, while Ethereum prices dropped more than 7% in August and are down 59% in 2022.
Still, a few popular cryptocurrencies offered a decent return last month. Let’s take a look at the 10 best-performing cryptocurrencies in August 2022.
10 Best-Performing Cryptocurrencies In August 2022
We have taken the August return data of the cryptocurrencies from coinmarketcap.com to come up with the 10 best-performing cryptocurrencies in August 2022.
For the list, we have only considered cryptocurrencies with a market capitalization of more than $400 million (as of Sept. 1, 2022).
10. Shiba Inu (SHIB, 3%)
Created anonymously in August 2020, it aims to be an Ethereum-based alternative to Dogecoin (DOGE). Its token supports projects such as an NFT art incubator.
As of this writing, SHIB is trading at $0.00001216, giving it a market capitalization of more than $6.60 billion. It has an all-time high of $0.00008845 (October 2021) and an all-time low of $0.000000000082 (September 2020).
9. PancakeSwap (CAKE, 6%)
Launched in September 2020, it is a DeFi (decentralized finance) app that enables holders to exchange tokens, provide liquidity via farming, as well as earn fees in return.
As of this writing, CAKE is trading at $3.98, giving it a market capitalization of more than $550 million. It has an all-time high of $44.18 (April 2021) and an all-time low of $0.0002318 (September 2020).
8. Huobi Token (HT, 7%)
Launched in 2018, it is the native currency of Huobi Global, which is a cryptocurrency exchange. It has several functions, including reducing commissions for trading operations. As of this writing, HT is trading at $4.61, giving it a market capitalization of more than $700 million. It has an all-time high of $39.81 (May 2021) and an all-time low of $0.8903 (January 2019).
7. eCash (XEC, 8%)
It aims to be a means of transaction that people can use to pay for goods and services. XEC is down over 63% year to date and down over 22% in the last 90 days.
As of this writing, XEC is trading at $0.00004084, giving it a market capitalization of more than $770 million. It has an all-time high of $0.0005926 (November 2021) and an all-time low of $0.0000173 (June 2021).
6. Flow (FLOW, 8%)
It is a quick, decentralized, and developer-friendly blockchain. Flow’s native currency is a keystone for a new, inclusive, and borderless digital economy. FLOW is down by over 80% year to date and down almost 25% in the last 90 days.
As of this writing, FLOW is trading at $1.82, giving it a market capitalization of more than $1.80 billion. It has an all-time high of $46.16 (April 2021) and an all-time low of $1.17 (June 2022).
5. UNUS SED LEO (LEO, 15%)
Launched in 2019, it is a utility token that is used across the iFinex ecosystem and allows Bitfinex users to save money on trading fees. LEO is up by almost 37% year to date but is down by almost 4% in the last 90 days.
As of this writing, LEO is trading at $5.19, giving it a market capitalization of more than $4.90 billion. It has an all-time high of $8.04 (February 2022) and an all-time low of $0.8036 (December 2019).
4. Cosmos (ATOM, 18%)
Launched in 2017, it aims to provide an antidote to “slow, expensive, unscalable and environmentally harmful” proof-of-work protocols. ATOM is down by almost 67% year to date but is up by over 34% in the last 90 days.
As of this writing, ATOM is trading at $12.03, giving it a market capitalization of more than $3.40 billion. It has an all-time high of $44.70 (September 2021) and an all-time low of $1.13 (March 2020).
3. EOS (EOS, 24%)
It is an open source blockchain platform that allows developers to develop projects that other blockchains cannot support. EOS is down by over 50% year to date but is up by over 24% in the last 90 days.
As of this writing, EOS is trading at $1.54, giving it a market capitalization of more than $1.50 billion. It has an all-time high of $22.89 (April 2018) and an all-time low of $0.4802 (October 2017).
2. Nexo (NEXO, 49%)
Launched in 2018, it is a blockchain-based lending platform that provides users with instant cryptocurrency-backed loans. Its native token, NEXO, provides users with several benefits, including discounts, receiving dividends from Nexo’s profits, and more. NEXO is down by almost 67% year to date and down over 28% in the last 90 days.
As of this writing, NEXO is trading at $0.8726, giving it a market capitalization of more than $480 million. It has an all-time high of $4.63 (November 2021) and an all-time low of $0.04333 (September 2018).
1. Chiliz (CHZ, 53%)
Founded in 2017, it is a digital currency for sports and entertainment. It is a fan token that helps to connect fans, as well as unlock new revenue streams. CHZ is down by over 36% year to date but is up by almost 56% in the last 90 days.
As of this writing, CHZ is trading at $0.188, giving it a market capitalization of more than $1.12 billion. It has an all-time high of $0.8915 (March 2021) and an all-time low of $0.004001 (September 2019).
This article originally appeared on ValueWalk
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
