Easy Money? Coinbase Crypto Coins Grow Over 50% On Average In August

Tony "The Bull" Severino

Last Updated: August 16, 2020 5:00 pm

3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Looking for more signs that cryptocurrencies may be entering a new bull market? Look no further than Coinbase, where on average, buying any crypto asset offered by the platform would have resulted in 50% ROI or more.

But which coins were the top-performing crypto on Coinbase, and which, if any, were lagging behind?

Coinbase Coins Sizzle As Crypto Market Catches Fire In 2020

In a data snapshot taken from San Francisco-based Coinbase’s price list one-month returns, it is clear that crypto is on fire again.

The list of coins is currently a sea of green on nearly all-timeframes. The most significant results arrived over the last 30 days, following Bitcoin and Ethereum’s massive break through resistance.

Chainlink setting new all-time highs and its decentralied oracle competitor Band both helped to skew the total average performance month-over-month.

Across the board, taking the average performance of all coins offered by the platform resulted in over 57% ROI. This means you could have bought nearly any coin there, and would have seen a strong return.

Recently, a venture capitalist claimed that money wouldn’t come as easy during this crypto cycle. However, they likely would be changing their tune after this recent crypto market performance and the sudden bubble-like behavior in decentralized finance.

That trend has morphed into crypto insiders speculating on coins they know well are worthless, but are experimenting and adding liquidity anyway.

Greed is reaching some of the highest levels in history, but it may only be the start if the bull market has officially begun.

57% One-Month ROI On Average: The Best and The Worst Performers

Of the list of over 20 crypto assets listed by Coinbase, sans any stablecoins, the average return was 57%. However, there were a few overperformers that would have pushed the average much higher if it weren’t for a few extreme laggards.

The top five performing cryptocurrencies of the list include Algorand (ALGO) with 134%, Chainlink (LINK) with 111%, followed by Ethereum (ETH) and Cosmos (ATOM) with 81% and 53%, respectively.

Band Protocol (BAND) beat all four for the best return, at over 490%. XRP and Maker (MKR) were close behind the top five, each with a 49% rise over the last month.

The absolute worst performer was Basic Attention Token (BAT) at 5%, followed by Augur (REP) at 10%, Ethereum Classic (ETC) at 11%, and Stellar (XLM) at 12%.

It is not clear why this pack of crypto assets isn’t rising with the rest of the tide, or what that could mean. Are these altcoins awaiting their explosion out of their downtrends, or does this signal lack of demand?

Ethereum Classic for example recently suffered two 51% attacks. Coinbase extended the confirmation times on the asset significantly, which may or may not have impacted numbers further.

Nearly everything else on the list posted a strong between 20 and 40 percent return.

Returns like that make it clear that the crypto market is hot once again. But are things just getting started to heat up, or is it already coming to a boil?

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.