See the cryptocurrencies that gained and lost the most value in February

Cryptocurrencies luna and XRP led the appreciation in February, according to a survey by QR Asset Management. On the other hand, the sandbox and fantom had the worst performances in the same period.

Theodoro Fleury, a manager at QR Asset Management, attributes the rise in luna, a digital asset on the Terra blockchain, to a capital injection of around US$1 billion through the sale of tokens to investors such as Jump Crypto, Three Arrows Capital and Defiance Capital. .

Ripple’s XRP, on the other hand, appreciated due to a court decision seen as favorable in the first week of the month, according to the expert.

A US judge granted Ripple the right to respond to the SEC (United States Securities and Exchange Commission) and also ruled that confidential documents between the company and the agency should be opened.

The company responds about a possible sale of tokens with unregistered security.

“[Dessa forma]there is a growing feeling in the market that Ripple may have a favorable outcome in the lawsuits against it, and this has an impact on the price”, declared the manager of QR Asset Management.

On the downside, Fleury says the reason for all the declines is the same: increased risk aversion.

“Among the possibility of a more abrupt rate hike by the Fed [Federal Reserve, banco central dos EUA] and the war in Ukraine, the market became more cautious at the beginning of 2022”, said the expert.

“But it is important to point out that all three assets [SAND, FTM e NEAR] are still among the highest highs of the last twelve months, so they tend to suffer more when the market mood turns, as investors rush to realize the biggest gains”, concluded Fleury.