Top 5 performing cryptocurrencies in first quarter (Q1) of 2022

Key Takeaways:

  • •The total crypto market suffered five percent losses in Q1 of 2022
  • •WAVES registered a gain of 195% to become the best performing token in Q1 of 2022.
first quarter
Despite the high volatility in Q1 of 2022 several assets managed to perform outstandingly well.

LAGOS (CoinChapter.com) — The first quarter of 2022, was overwhelming for crypto traders and investors as the market was riddled with widespread volatility.

Bitcoin and many other digital tokens plunged in the first quarter of 2022 as the entire crypto market suffered losses. The total crypto market capitalization started the year at $2.2 trillion before dropping as low as $1.6 trillion in March.

First quarter
Chart of the total crypto market capitalization in 2022. Source: TradingView

According to data from Tradingview, the broader crypto market suffered about five percent losses in the first quarter. But ended Q1 by climbing back into the $2 trillion mark.

Many factors have been indicated as catalysts for the performance of several digital assets in the first quarter of 2022. The war between Russia and Ukraine has had a major impact on the price volatility of several cryptocurrencies. The conflict has led to calls for the regulation of crypto and ban on several regions from accessing digital tokens.

Furthermore, inflation in the United States and its impact on the U.S. Federal Reserve has also affected crypto prices. Likewise, legislative push, protests, and multinational company’s activities, among other issues have also negatively affected the price of digital assets in Q1 of 2022.

Despite the high volatility of cryptocurrencies in the first quarter of 2022 several assets managed to perform outstandingly well. Here are some digital assets that managed to put in a positive performance in Q1 of 2022:

1 – Waves (WAVES)

Waves (WAVES), is arguably the best performing digital asset in Q1 of 2022 as it registered tremendous growth. The token ended the first quarter with more than 195% gains, according to data from Tradingview.

WAVES started the year at a price tag of nearly $15 before experiencing remarkable growth and surpassing the $50 benchmark by the end of March. Moreover, the token which is currently ranked as the 39th largest digital asset recently set a new all-time high of $61.

However, WAVES price has since dropped from its all-time high as it was trading at $45 at the time of publication. Notably, the token market cap is currently at $4.5 million with a 24-hour trading volume of more than $1 billion.

2 – Leo (LEO)

Second on our list is LEO Token (LEO), which is currently among the 50th largest cryptocurrency by market capitalization. The token in the first quarter of this year surged more than 60% putting it among the best performing assets.

LEO rallied from around $3 on January 1 to almost $6 on March 31. The token market cap rose to $5.6 billion and it currently has a 24-hour trading volume of $1.8 million.

Currently, LEO’s price is down by 0.9% and it is trading at $6 down more than 2% over the past seven days. LEO has a circulating supply of 940 million LEO coins and a total supply of 985 million.

3- Ethereum Classic (ETC)

Ethereum Classic (ETC) is also among the best performing asset in the first quarter as it registered more than 41 % gains

ETC began the year at a price tag of about $35 before rising to a niche of more than $47 at the end of March. The token market cap also rose to $6.5 billion with a 24-hour trading volume of more than $1.2 billion.

4 – THORChain (RUNE)

Fourth on our list is THORChain (RUNE), which rose by more than 40% in the first quarter of this year.

RUNE rallied from around $6 on January 1 to more than $11 on March 31. The rise boosted RUNE’s monthly price by 128% and yearly gains to by more than 60%.

However, RUNE is still down more than 45% from its all-time high in May last year despite the rise. The token is trading at almost $11, up by 9% over the past week.

5 – Terra (LUNA)

Terra (LUNA), the 8th largest cryptocurrency by market capitalization, surged by more than 25% in the final quarter of 2022.

LUNA registered one of the best quarterly performances after it rallied from $85.5 on January 1 to $104.3 on March 31.  The token experienced tremendous growth as its market cap rose to $78.9 billion.

Currently, LUNA is trading at $115, up more than 20% over the past week. It has a month-to-date rise and year-to-date gains of more than 30% and 520% respectively.

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