Two low-cap cryptocurrency gems had a stellar second quarter, more than quadrupling their market capitalizations in the last three months and significantly outpacing Bitcoin’s (BTC) relative gains.
The best performing cryptocurrency last quarter is Bancor (BNT) after rising 544.98%, as reported by the on-chain analysis company IntoTheBlock.
Bancor is a blockchain protocol that allows users to exchange various tokens directly without the need to go through a cryptocurrency exchange. Bancor seeks to address the illiquidity issue plaguing thousands of coins that offer legitimate services.
Last month, Coinbase said it is considering adding support for Bancor depending on whether the coin meets the exchange’s technical and regulatory standards. Also, market participants largely ignored the news involving a security vulnerability in Bancor’s decentralized exchange that forced developers to transfer the funds of affected wallets and protect users from nefarious actors. Bancor has since fixed the issue.
Last night, a vulnerability was discovered in a new version of the BancorNetwork v0.6 contract deployed on June 16 2020.
Any users who has traded with Bancor in the last 48hrs and given approvals to the Bancor contract, go to https://t.co/bCdpVtfPOC and revoke all approvals.
— Bancor (@Bancor) June 18, 2020
The runner-up in last quarter’s crypto race is SwissBorg (CHSB) after soaring more than 467%.
CHSB incentivizes users of the crypto management app Swissborg by offering lower transaction fees, participating in the future direction of the platform, and earning rewards. Swissborg’s decentralized wealth management platform is servicing over 100,000 people worldwide.
IntoTheBlock says over 18,000 addresses holding CHSB tokens were in profit as of April 1st. A few months later, the number of addresses that are in gains soared to more than 21,00, representing over 96% of the total addresses storing the utility token.
As for Bancor, over 36% of the addresses holding the coin are in profit, which is its peak level in three years.
The top cryptocurrency, Bitcoin, rose 53% in the second quarter of this year, from $6,239 to $9,557. About 83% of BTC addresses are currently in profit, according to the crypto intelligence firm Glassnode.