Two altcoins outperformed Bitcoin in the past three months
Although Bitcoin was one of the big winners for investors at the end of the first quarter, it is looking rather boring these past two months. Even though we are seeing a very healthy 60% gain for the yar, the last weeks have been fairly flat.
The high of the year was around $31,000 and was reached in early April already. Ever since then, Bitcoin has been caught in a fairly broad trading band between $25,000 and $30,000 and has struggled to choose a clear direction.
In the last three months, Bitcoin went up by some 12%. It is officially still ‘Bitcoin season’, but there are some well-known altcoins that have outperformed Bitcoin in the last three months. We’ll discuss two of them today.
Ripple labs is still embroiled in a lawsuit against the SEC (which has lasted two years already), but there are increasing signs that the US stock market watchdog cannot win. If that happens, many expect XRP, currently still in the top ten largest digital coins, to rise again to its pre-trial level and thus have a large growth spurt.
As more good news is reported about the lawsuit, the price of XRP tends to go up. In the past 90 days, XRP has risen by some 22%.
The best performance of the last three months however was provided by Render Token, the small crypto coin that specializes in providing backup computing power to allow anyone to create 3D visuals. Normally you need a very expensive and fast computer for something like this, but thanks to the Render network you can do that on the internet.
Get used to it. $RNDR will be the talk of the town until top 10 at least.— Rendoshi Tokamoto 세우다 ⭕️ (@Rendoshi1) May 26, 2023
This isn’t a short term meme p&d. The AI movement is here to stay and will only get bigger.
Still seeing a huge amount of CT that haven’t had the lightbulb moment yet.
It’s still early. 300% before ATH. https://t.co/CL8SJyeST6
In the last three months, especially due to the focus on AI programs like ChatGPT and Dall-E, Render Token went up 76%.
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