OKB become the best Gainer by Crypto Market Cap in Q1 2020, BNB not in the list

[NateWong0929]

On CoinMarketCap, the “Gainers & Losers” tool is one of the most popular among our millions of users. It ranks crypto assets based on their price-performance across a few intervals — by one hour, 24 hours or seven days.

So we thought, instead of price performance, why not try a different approach and do a round-up of the top gainers for Quarter 1 (Q1) 2020 based on crypto market cap performance? (After all, CoinMarketCap was the first to apply the use of the “market capitalization” model to crypto assets. If you’re one for technical details, read more about the methodology here!)

Top 10 Cryptoassets by Crypto Market Cap Growth
OKB +147.25%
BSV +72.90%
CRO +61.34%
DASH +58.47%
ZEC +27.94%
LEO +27.38%
LINK +25.67%
XTZ +19.71%
XEM +11.85%
INO +11.06%
While we prefer to let data do the talking, we imagine that some of you would still like to hear some opinions, especially regarding the top five gainers by crypto market cap.

For that, we reached out to our data and ratings partners (Flipside Crypto, Simetri by Crypto Briefing, TokenInsight) and the projects themselves for commentaries on what could have explained the growth. Tell us what you think in each of the polls below!

OKB (+147.25% in Q1 Market Cap)
OKB (OKB) is a global utility token issued by OK Blockchain Foundation and adopted by OKEx. As of now, 52 application scenarios internally and externally have been developed by OKB, including making payment on OKEx Jumpstart, market data, wallet, lending and wealth management, which allow holders to purchase products or services with OKB.

What the project representative says:

“In Feb 2020, OKEx launched the testnet of its own commercial public chain, OKChain. At the same time, OKEx announced to burn 700M unissued OKB and promised not to issue any additional OKB in the future, which made OKB absolutely deflationary. In addition, with the OKChain became open-source on April, OKB is expected to play a more important role on OKChain, for example the node election and the 100% of the genesis block OKT mapping. With all the contribution from different aspects, we expect the growth will continue.”

TokenInsight has given this project a rating of BBB, saying:

“For OKB, its great performance in 2020 Q1 is mainly attributed to its “buy-back & burn” initiative of 700 million tokens, shrinking the total supply to just 300 million tokens. I believe based on its competitive position in the derivatives trading market, OKB will maintain a relatively good position among exchange tokens.”


BSV (+72.90% in Q1 Market Cap)
Bitcoin SV (BSV) represents a restoration of the original Satoshi protocol, with a mission to keep that protocol stable and enable infinite on-chain scaling. It is a hard fork of Bitcoin Cash (a community-activated update to the protocol or code) that is built to bring business to the blockchain, combining certainty and stability with unlimited scaling in order to provide a platform that is fast, cost-effective, regulation friendly and ready to power the future of global enterprise.

What the project representative says:

“While BSV’s 2020 price performance is nice, it’s more important to focus on the Bitcoin SV network’s technical growth. In February, BSV’s ‘Genesis’ hard fork returned the protocol almost completely to Satoshi Nakamoto’s original — removing the default block size limit to enable unbounded scaling.”

“We are also seeing unique business uses of BSV – including a big data health project to combat opioid addiction, eco-friendly supply chain applications, and a system to ensure fairness in eSports. BSV daily network transactions now consistently surpass BTC and sometimes even Ethereum. This drives a rise in transaction fees, meaning that miners are less reliant on the block reward subsidy as it halves again — especially for BTC in May 2020.”

What TokenInsight, namely Wayne Zhao, Head of Rating & Research, says:

“BSV is a strong competitor of BCH. BCH has a huge number of fans in China because of Bitmain and Wu Jihan. The way I see it, BSV is more of a global thing.”
DASH (+58.47% in Q1 Market Cap)
Dash (DASH) describes itself as digital cash that aims to offer financial freedom to everyone by providing a fully-decentralized payments solution. Since its creation in 2014, Dash has introduced features such as two-tier network with incentivized nodes and decentralized project governance (Masternodes), instantly settled payments (InstantSend) and a platform that will allow developers to build on top of the Dash network.

What the project representative says:

“We believe the most important factor contributing to the growth in Q1 was the software delivery. On Dec. 30, 2019, Dash Platform was released to a custom testing environment, allowing developers to use their network and consensus protocol for data storage and integrity while leveraging another server to handle computation. This solves the performance and scalability problems that most DApp platforms suffer.”

“In parallel to software delivery, we saw remarkable adoption growth. Key metrics had very positive behavior, usually better than comparable networks, like Bitcoin, Litecoin or Bitcoin Cash. For example, the median daily transaction count more than doubled from Q1 2019 to 17k, and mobile wallet installs more than tripled for the same period to 101k.”

What Flipside Crypto that has given the project a rating of A says:

“Dash fundamentals have increased 4.17% since the beginning of Q1, driven by a 7.65% climb in Developer Behavior. Market Maturity also went up 7.87%, while User Activity remained stable in the same timeframe.”

Simetri by Crypto Briefing has given the project a rating of B, saying:

“A major factor driving up the price of DASH in the first month of 2020 can be attributed to adoption in Venezuela. The project announced that there has been a 562% increase in active android devices using Dash’s wallet application in Venezuela. Furthermore, Burger King announced plans to accept Bitcoin as well as other altcoins (including Dash) in Venezuela following a pilot in Sambil Caracas.”

“Latin America, and Venezuela in particular, have turned to cryptocurrency as a refuge against hyperinflation in recent years. This has helped DASH achieve traction and forge a path of organic expansion for its cryptocurrency.”