Top Moving Tokens in February 2024
February saw significant movements in the market fueled by Bitcoin surpassing $60k. Top movers included Stacks, nearing its all-time high at $3.34, Uniswap's UNI with an 82% increase, and The Graph's recovery, reaching $0.31. Bonus track: more on Bitcoin reached $60k and Ethereum broke $3,000.
Bitcoin closed out February reclaiming the $60k mark - something we have not seen since late 2021 - the wider crypto market has started to show signs of life, and left us with these top movers of the month:
Stacks
Stacks, a prominent Layer 2 scaling solution building on Bitcoin, was close to reaching its all-time high, hitting $3.34 by the end of February. The STX token saw significant gains, +89% from the January closing price, buoyed by the upward momentum of Bitcoin.
Uniswap
UNI has surged to $12.60, marking an +82% monthly increase, the highest since March 2022. The uptick follows a recent Uniswap Foundation proposal to incentivize governance participation among UNI holders, through turning on fee distribution. With less than 10% of circulating UNI participating in governance votes and fewer than half of the top 30 delegates engaging in recent proposal votes, the initiative aims to address widespread apathy towards active participation.
