Litecoin Booms in February But 'Golden' Crypto Takes Price Podium

Dismal? Not quite, but the crypto markets had a rough ride in February.

What began with a sell-off in bitcoin, one that pushed the total market capitalization of all cryptocurrencies to a 10-week low of $276 billion, has ended in a seeming recovery, with the total value hitting $450 billion Thursday to end February trading.

However, the numbers don't exactly tell the whole story. Comparing performance to January, the market saw a decline of 8.5 percent month-over-month, and a decline of 45.78 percent from its 2018 record high of $830 billion.

But that's not to say there weren't gains to be had. Bitcoin (BTC), the largest cryptocurrency by market capitalization, saw a "V-shaped" recovery, while fifth-place litecoin notched monthly gains.

Still, it was the lesser-known cryptocurrencies that performed best amid the broad-based gloom and doom, suggesting that after a flurry of retail trading to end 2017, enthusiasts are perhaps once again the dominant market force.

DigixDao

Monthly performance: +136 percent
All-time high: $597.66
Closing price on Feb. 28: $555.44
Current market price: $559
Rank as per market capitalization: 25
DigixDao (DGD), an ethereum-based token, gained a staggering 136 percent last month, rising 90 percent in the last week alone to hit an all-time high of $597.66 Wednesday, according to CoinMarketCap.

Courtesy of the meteoric increase, DGD is now the 25th largest cryptocurrency by per market capitalization, putting into large-cap territory.

For those new to asset's climb up the charts, the team behind the project are creating a new token called DigixGold (DGX), which will be backed by physical gold.

"Every DGX will be backed by 1 gram of LBMA-approved bullion," as per the official website, which claims the coin will be released by the end of the first quarter.