August was a very good month for a coin like Chainlink in the broader market, it was an excellent month, but for many of the top ten tokens by market cap, the month ended in the red.
August was a month fo the development of decentralized finance (DeFi), especially in the area of income agriculture. Certain tokens in the ecosystem saw a sharp rise, some of them also declined on the spot.
In other words, August is also a green month with new year highs, potential bull market conditions and generally positive market sentiment.
Chainlink Leads the Top Ten Coins
Over the past month, Bitcoin (BTC) topped $ 12,000 again and set a new annual high. This is a continuation of the short July 12,000 we reported at the time. A downward correction followed, but the price always stayed above $ 11,000.
Altcoins also rose, with Ethereum (ETH) hitting more than $ 400 and hitting $ 463. Ethereum’s long-awaited Medalla testnet launched in mid-August, and some major issues ensued that appeared to be under control.
Judging by the overall performance of the top ten coins, Chainlink (LINK) is undoubtedly the winner, rising by more than 90%. Chainlink saw its price rise further in August, entering the top ten and transferring Bitcoin Cash (BCH) in the process.
The second Ethereum rose less than 10%. The only other coin that has risen in the last 30 days (not counting the stablecoin tether (USDT)) is Binance Coin (BNB).
On the other hand, the price of most of the coins on this list fell in August. Bitcoin SV (BSV) saw the biggest drop at more than 20%, followed by BCH, Cardano (ADA) and XRP with double-digit drops.
Chainlink: Top 10 Coin Winners
There are many opportunities among the top 50 winners by market value, and the top 10 winners are also very rich. Under the leadership of REN, the currency gained nearly 230%. Followed by OmiseGo (OMG), which also gained 200%.
The prices of NEM and Aave (LEND) have increased by more than 140%. While the other coins on this list have appreciated less than 100%, their increase is equally impressive. The smallest increase was Cosmos (ATOM), which also increased by more than 50%. After an almost exponential upturn, I finally took a breath at the end of the month.
Top 10 Coin Losers
The top-ranking is Polkadot (DOT), which has fallen by almost 100% and is among the top 20 crypto assets by market capitalization. According to CoinGecko data, it reached the top 10 by market capitalization. Interestingly, despite the massive drop, the best performance was achieved every week during this time. However, since the decline of Polkadot is a more complicated situation, as there was a 1 to 100 token split on August 21, all token balances have also increased 100 times so that the value of all token holdings is the same Same as before.
HEX fell more than 44% after DOT, while the rest of the coins here fell 10% to 25%. These include one of the winners in July-Cardano (Cardano) and Ethereum Classic (ETC), who suffered three attacks of 51% in one month. The last one on the list is Dogecoin (DOGE) with a minimum drop of 10.13%.