Coin Race: Top Winners/Losers of August

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Eimantas Žemaitis

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Eimantas Žemaitis

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Eimantas is a copywriter, Bitcoin and crypto journalist, and a life-long media student with a strong drive to explore the intersection between all forms of media, money, marketing, education, and the...

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September 6, 2023

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This year the fall came earlier than expected as August marked the second consecutive month of falling coin prices for cryptocurrency investors. The total market capitalization has shrunk more than USD 20 billion, leaving the vast majority of top cryptocurrencies bleeding. Nevertheless, August designates a much milder correction compared with the previous month, and bitcoin lost significantly less in terms of price than the top altcoins.

Source: iStock/torwai

Top 10 coins by market capitalization:

Source: Coincodex.com, September 1, 05:36 UTC

As said, the top 10 coins by market capitalization were bleeding once again. Not a single token experienced gains since the highly profitable months of May and June, and bitcoin was the only top digital asset whose correction didn’t exceed double digits – it dropped 4.97%. On the opposite end, we find litecoin, which has recently undergone its second halving and is still “alive and kicking’ as per its founder Charlie Lee. It dropped 32.55% and far exceeded the loses of other top altcoins, Stellar Lumens (-24.84%), Binance Coin (-22.93%). EOS (-22.55%), and Ethereum (-20.02%) in particular. Likewise, Bitcoin forks Bitcoin Cash and Bitcoin SV dropped 13.63% and 12.36% respectively.

Top 10 winners

Source: Coincodex.com, September 1, 05:36 UTC

Looking at the top 50 coins by market capitalization, only ThoreNext (THX) and Ethereum Classic (ETC) finished in green, with THX being the absolute winner of August following a whopping 204% surge. In contrast, ETC’s gains were rather modest – it appreciated 5.36%.

Other best performing coins did even worse and closed the month with losses. Energi (NRG) contracted 3.46%, while BTC lost 5% in August. The last of the top 10 winners ranks Decred (DCR), whose correction was milder than other altcoins. As reported, Decred introduced a new privacy feature recently.

Top 10 losers

Source: Coincodex.com, September 1, 05:36 UTC

Speaking of the worst performing coins of August, the entire top 10 losers among the top 50 by market capitalization declined nearly 30%. Cosmos ATOM led the list and lost a staggering 44.09% of its value. At the bottom of the worst performers, we find QTUM and TRON, both of which corrected more than 29%.

Winners & Losers from the Top 100/200

Looking at the wider picture, there were several new entrants in the top 100 coins by the market capitalization list. THX and Atlas Protocol (ATP) (+188.28%) managed to appreciate the most regardless of the declining crypto market, while Egretia (EGT) (-74.05%) and GXChain (GXS) (-55.95%) experienced the most significant loses.

In terms of the top 200 coins by market cap, THX again outperformed the market. It was followed by ATP, Divi Project (DIVI), and Vitae (VITAE), as all of them appreciated more than 150%. The worst performing coins that managed to stay in the top 200 were Egretia, pEOS (-65.49%), and XMax (XMX) (-65.59%).