August was another difficult month for cryptocurrencies. Concerns over inflation and rising interest rates pressured risk assets, pushing Bitcoin and Ethereum prices down.
Bitcoin witnessed a drop of around 14% last month and is down about 58% year to date, while Ethereum prices dropped more than 7% in August and are down 59% in 2022.
Still, a few popular cryptocurrencies offered a decent return last month. Let’s take a look at the ten best-performing cryptocurrencies in August 2022.
We have taken the August return data of the cryptocurrencies from coinmarketcap.com to come up with the ten best-performing cryptocurrencies in August 2022.
For the list, we have only considered cryptocurrencies with a market capitalization of more than $400 million (as of Sept. 1, 2022).
10. Shiba Inu (SHIB, 3%)
Created anonymously in August 2020, it aims to be an Ethereum-based alternative to Dogecoin (DOGE). Its token supports projects such as an NFT art incubator.
As of this writing, SHIB/USD is trading at $0.00001216, giving it a market capitalization of more than $6.60 billion. It has an all-time high of $0.00008845 (October 2021) and an all-time low of $0.000000000082 (September 2020).
9. PancakeSwap (CAKE, 6%)
Launched in September 2020, a DeFi (decentralized finance) app enables holders to exchange tokens, provide liquidity via farming, and earn fees in return.
As of this writing, CAKE/USD is trading at $3.98, giving it a market capitalization of more than $550 million. It has an all-time high of $44.18 (April 2021) and an all-time low of $0.0002318 (September 2020).
8. Huobi Token (HT, 7%)
Launched in 2018, it is the native currency of Huobi Global, a cryptocurrency exchange. It has several functions, including reducing commissions for trading operations. As of this writing, HT is trading at $4.61, giving it a market capitalization of more than $700 million. It has an all-time high of $39.81 (May 2021) and an all-time low of $0.8903 (January 2019).
7. eCash (XEC, 8%)
It aims to be a transaction that people can use to pay for goods and services. XEC/USD is down over 63% year to date and over 22% in the last 90 days.
As of this writing, XEC is trading at $0.00004084, giving it a market capitalization of more than $770 million. It has an all-time high of $0.0005926 (November 2021) and an all-time low of $0.0000173 (June 2021).
6. Flow (FLOW, 8%)
It is a quick, decentralized, and developer-friendly blockchain. Flow’s native currency is a keystone for a new, inclusive, and borderless digital economy. FLOW/USD is down by over 80% year to date and almost 25% in the last 90 days.
As of this writing, FLOW is trading at $1.82, giving it a market capitalization of more than $1.80 billion. It has an all-time high of $46.16 (April 2021) and an all-time low of $1.17 (June 2022).
5. UNUS SED LEO (LEO, 15%)
Launched in 2019, it is a utility token used across the iFinex ecosystem and allows Bitfinex users to save money on trading fees. LEOu/USD is up by almost 37% year to date but is down by almost 4% in the last 90 days.
As of this writing, LEO is trading at $5.19, giving it a market capitalization of more than $4.90 billion. It has an all-time high of $8.04 (February 2022) and an all-time low of $0.8036 (December 2019).
4. Cosmos (ATOM, 18%)
Launched in 2017, it aims to provide an antidote to “slow, expensive, unscalable and environmentally harmful” proof-of-work protocols. ATOM is down by almost 67% year to date but is up by over 34% in the last 90 days.
As of this writing, ATOM/USD is trading at $12.03, giving it a market capitalization of more than $3.40 billion. It has an all-time high of $44.70 (September 2021) and an all-time low of $1.13 (March 2020).
3. EOS (EOS, 24%)
It is an open-source blockchain platform that allows developers to develop projects that other blockchains cannot support. EOS/USD is down by over 50% year to date but is up by over 24% in the last 90 days.
As of this writing, EOS is trading at $1.54, giving it a market capitalization of more than $1.50 billion. It has an all-time high of $22.89 (April 2018) and an all-time low of $0.4802 (October 2017).
2. Nexo (NEXO, 49%)
Launched in 2018, it is a blockchain-based lending platform that provides users with instant cryptocurrency-backed loans. Its native token, NEXO/USD, provides users with several benefits, including discounts, receiving dividends from Nexo's profits, and more. NEXO is down by almost 67% year to date and over 28% in the last 90 days.
As of this writing, NEXO is trading at $0.8726, giving it a market capitalization of more than $480 million. It has an all-time high of $4.63 (November 2021) and an all-time low of $0.04333 (September 2018).
1. Chiliz (CHZ, 53%)
Founded in 2017, it is a digital currency for sports and entertainment. It is a fan token that helps to connect fans, as well as unlock new revenue streams. CHZ/USD is down by over 36% year to date but is up by almost 56% in the last 90 days.
As of this writing, CHZ is trading at $0.188, giving it a market capitalization of more than $1.12 billion. It has an all-time high of $0.8915 (March 2021) and an all-time low of $0.004001 (September 2019).