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5 best-performing cryptocurrencies of Q1

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As the first quarter of 2021 (Q1) draws to a close, here are the five best-performing cryptocurrencies for the period. 

The list does not include Bitcoin (BTC) and Dogecoin (DOGE), even though they increased 101.14% and 852.15% in Q1 respectively. BTC traded 0.19% higher at $58,851.88 while DOGE traded 0.23% lower at $ 0.054 at press time.

Content Value Network (CVNT)

CVNT increased a whopping 41,532.67% in Q1 to about $2.96. The content distribution platform was launched on Huobi Global in January 2019.

Dent (DENT)

DENT surged 6,367.68% in Q1 at $0.0125.

The token is associated with Dent Wireless, which calls itself the first digital and mobile operator. According to Cointelegraph, there are rumors making the rounds of Reddit that Dent might partner with Tesla Inc (NASDAQ:TSLA) CEO Elon Musk’s Starlink. The firm announced an eSIM reseller platform on Wednesday.

On its website, Dent highlighted milestones which include optimized connectivity for the Tokyo Summer Olympics. 

Pundi X (NPXS)

NPXS shot up 4,409.95% in Q1 at around $0.0077.

This month, the token faced a huge spike thanks to token staking, reduction, and positive sentiment surrounding the altcoin market. Creator and CEO of PundiXLabs confirmed the token reduction and staking news. He also said Decentralized Finance (DeFi) farming was coming.

Harmony (ONE)

ONE is one of the best-performing cryptocurrencies in Q1 which rose 4,166.84% in the quarter. The cryptocurrency traded 2.71% lower at $0.183 at press time.

ONE reached its ATH of $0.2233 on March 29. Developer Péter Szilágyi called out Harmony for violating Ethereum software licenses this month. ONE gained mentions on social media and was one of the top tickers on Stocktwits.com trending streams in mid-March.

In January, the blockchain company released its 2021 roadmap. Harmony offered a limited edition of 100 Atari Centipede, an 1980’s fixed shooter arcade game, capsule collections as non-fungible tokens on Wednesday. Those were sold out in less than 1.5 hours.

Terra (LUNA)

LUNA gained 2,746.95% in Q1. The coin traded 0.99% higher at $18.55 at the time of writing.

The crypto touched its all-time high of $22.33 on March 21. The blockchain associated with LUNA uses fiat-pegged stablecoins to power global payments systems.

This month TerraUSD and associated UST stablecoin saw massive demand from Mirror, Terra’s synthetic assets protocol. In order to meet the demand 80 million LUNA were burned to mint 447 million UST, which reduced LUNA’s circulating supply to 404 million from 484 million thus pushing up prices, according to Cointelegraph. 

Another event that reportedly buoyed LUNA was Robinhood’s trading ban on GameStop Corp. (NYSE:GME), BlackBerry Ltd (NYSE:BB), and AMC Entertainment Holdings Inc (NYSE:AMC) stock which may have led a large swathe of traders to decentralized exchanges and synthetic assets.

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