Top 5 Coins for February 2020

By February 4, 2020 DApps
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Top 5 Coins for February 2020
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January is in the history books and so far, the first quarter of 2020 has provided some amazing returns in the cryptocurrency market. After a lengthy bearish period following Bitcoin’s blow-off top at $14,000 in mid-2019, speculators around the world are ecstatic at the signs of a bull market taking shape. Many alts have already shown some astonishing gains this quarter and traders are looking for more. These are the top five coins for February that you should keep on your watch list.

1. Cardano (ADA)

Cardano was somewhat overlooked in the crypto mania of 2017, but it is positioning itself to be a powerful force in 2020. There are new developments in Cardano, bringing them closer to smart contract implementation, a feature that seems like it has become more important every year. Also, Cardano has been expanding its collaborations, working closely with platforms like Hyperledger, Wc3, Horizon and others.

For traders, Cardano’s ADA has recently started to look like an incredibly enticing asset. The last five weekly candles have been green with volume to match, effectively breaking out of its price slump. Then just a few days ago, Binance announced they will be launching 75x margin for ADA/USDT. With ADA already being traded on the industry-leading BitMEX platform, it is looking very likely that there will be some impressive volatility returning to the ADA charts. With fundamental and technical analysis aligning, keep your eyes on Cardano in the near future.

2. NEO (NEO)

There is a lot of bullish news behind the NEO smart contracts platform. After an absolutely meteoric rise in 2017 following a rebrand from Antshares, NEO has seen one of the most devastating falls as far as high cap cryptos are concerned. From an ATH of almost $200 to a paltry low of $4.50, NEO has been regrouping in an accumulation channel since 2019 started. So why now? What are the factors that could potentially fuel another legendary run for NEO?

As far as the crypto community is concerned, NEO is the “Ethereum of Asia.” Among many other aspects, it is a platform for projects and DApps to be built on. NEO already has several projects using its technology like Nash and Switcheo, with more in the works.

In significant news, NEO became the first blockchain project to join Microsoft’s .Net foundation in 2019. Heads of this new initiative push for NEO have said they have developed a toolkit for .Net and are actively working to bring new developers to the NEO platform. This will mean huge growth in the future that could very well be reflected on the charts.

One of the biggest hurdles for NEO to overcome has been China’s regulatory restraints. This issue seems as though it has gotten a lot less challenging in recent months. China's president, Xi Jinping has made a lot of initiatives to accelerate the adoption of blockchain technology and to make sure developments are centered in China. For those who have been in this space for years, they know that China has a massive influence on the sentiment of the entire crypto market. This is very bullish for the time being.

NEO is also looking to launch the 3.0 version of their platform, complete with their mainnet in the first half of 2020. Overall, with prices remaining relatively low, this is a good time for investors to consider NEO.

3. ICON (ICX)

ICON has banked some massive returns through January. Posting an impressive 75% gain on this past Monday alone and over 400% altogether this year against USDT, it would be wise to pay attention to ICX in the first quarter of 2020.

But what is behind this sudden price rise? ICX finally broke out of its nearly two-year-long downtrend in mid-January, with traders taking notice and rushing into this asset. Shortly after breaking the trendline, ICX went on a wild run in the past month.

Attention rose in late 2019 as Icon’s parent company Iconloop made national news in South Korea following the announcement that its new blockchain ID service, MyID, would be launching in 2020. The MyID Alliance has 39 partners in various countries around the world, opening up huge potential for ICX to be used as a utility token. The hype is growing in Icon’s native South Korea and around the world, and ICX’s price is certainly growing with it.

4. Ethereum Classic (ETC)

Will Ethereum Classic perpetually live in the shadow of its estranged brother ETH? Or could 2020 be the year it finally strikes out on its own path? One thing is certain, volatility has come back to ETC with a 200% gain against USDT in January alone. With attention on Ethereum Classic, this could be a breakout year for the overlooked platform.

In mid-January, Ethereum Classic successfully completed its Agharta hardfork, which implements Ethereum’s Constantinople upgrades. ETC has a dedicated user base that votes on upgrades and participates in the network. This shows that the ETC client is evolving and is prepared to keep building into the future.

5. Dash (DASH)

Dash had a very impressive start to the year with over a 250% gain against USDT in January. After a stream of bullish news has been released in the past month, it seems like traders have made their entries and are looking for more upside in the first quarter of 2020.

Dash has found some real-world utility and users in the economically impoverished country, Venezuela. Following record-breaking inflation of their local currency, some Venezuelans have started to use Dash for their daily commerce needs. Reports have predicted that there will be over one million users in Venezuela by the end of 2020. This is factored in with a growing number of wallets and Dash app downloads. In addition, Dash has partnered with Cryptobuyer, a POS system that allows Dash to be used at businesses like Burger King throughout Latin America.

Furthermore, the major crypto remittance organization, Tauros, has recently announced a partnership with Dash Pay. This is great news for the Dash organization as their crypto will be added to over 11,000 ATMs across Mexico, furthering the stronghold Dash is building in Latin America. Overall, there is a lot to look forward to if you are a Dash investor. The network is growing at a feverish pace and the future looks bright for this platform.

Check out our Top Coins to Watch in 2020 article here.

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