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The TOP 5 best-performing cryptocurrencies in February 2023

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While Bitcoin (BTC) ended February on a slight uptick, some crypto-currencies performed better. Let’s take a look at the 5 best performing digital assets in February 2023

The 5 best performing cryptos

After a stellar January, Bitcoin (BTC) has been more feverish in February, marked by short-term profit-taking by investors. The king of cryptocurrencies closed slightly higher by 0.28%, making it the second consecutive month in the green.

Nevertheless, many altcoins took advantage of this to perform remarkably well. Let’s find out the top 5 best performing cryptocurrencies for the month of February. Note that we only focus on the top 300 most capitalised assets.

Top 5 best performing cryptocurrencies in February 2023

Top 5 best performing cryptocurrencies in February 2023

5 – RSK Infrastructure Framework (RIF)

With a performance of 200.5% in the space of 30 days, RSK Infrastructure Framework’s RIF is now moving up to 227th place in the ranking of the most capitalized cryptocurrencies. RIF is a toolkit offering the ability to easily build decentralised finance (DeFi) service solutions.

In other words, a company or protocol can use the various RIF products (fiat to crypto money transfer, stablecoin staking, decentralised borrowing, crypto salary payments, etc.) and automatically implement it on its own service.

This project has attracted particular attention thanks to the recent buzz surrounding the arrival of NFTs on Bitcoin. Indeed, RIF has launched RIF Flyover, a bridge that allows users to enter the Rootstock ecosystem, a smart contract platform on Bitcoin.

4 – SingularityNET (AGIX)

With $623 million in capitalization, SingularityNET (AGIX) is currently the 78th most capitalized cryptocurrency in the market. In February, AGIX printed 204% upside.

We previously wrote about it in our top 5 best performing cryptocurrencies in the Artificial Intelligence (AI) sector in early February. Since then, SingularityNET’s AGIX has continued its bullish rally, benefiting from the hype around this industry.

As a reminder, SingularityNET is a marketplace for creating and selling artificial intelligence algorithms. It is based on both Ethereum (ETH) and Cardano (ADA) and explains that it wants to work on the interoperability between these two blockchains.

3 – FLEX Coin (FLEX)

In 3rd position of this ranking and with a performance of 213%, we find the FLEX Coin (FLEX) of the eponymous centralized exchange platform. A rise that may come as a surprise given the company’s recent news.

In June 2022, the platform had announced the suspension of withdrawals for its users, before announcing a recovery plan last October. In addition, it is currently in a dispute with Blockchain.com over a $4.3 million debt.

2 – Stacks (STX)

With a 234% increase, Stacks (STX) is now the 42nd most capitalized cryptocurrency. The asset’s price has benefited greatly from the current buzz around the potential development of DeFi on Bitcoin.

Stacks can be compared to a second layer solution on Bitcoin. The technology allows for the creation of smart contracts and the development of decentralised applications, while taking advantage of the security provided by Bitcoin.

1 – Conflux (CFX)

Finally, with an outstanding performance of 301%, the top spot in this ranking is held by Conflux CFX. The reason for this is the recent rumours surrounding China’s interest in Web3 and cryptocurrencies.

Indeed, Hong Kong is currently reopening up to our ecosystem and China seems to be quietly validating the ambitions of the autonomous territory. As a result, many Asia-related assets have benefited from these rumours and have seen their prices appreciate greatly.

In a few words, Conflux is a hybrid blockchain, halfway between Proof Of Work (PoW) and Proof Of Stake (PoS). The company has recently signed a partnership with China Telecom, the second largest mobile phone operator in China, to develop SIM cards compatible with their blockchain

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