The first quarter of 2020 was a pivotal period for the cryptocurrency market. Amid global economic uncertainty and increasing digital adoption, several altcoins demonstrated remarkable growth in market capitalization — outpacing even some of the most established players. While many expected Bitcoin (BTC) to dominate headlines, it was a different story when analyzing market cap gains rather than absolute value.
Drawing insights from CoinMarketCap’s unique ranking, this article explores the top 10 cryptocurrencies that achieved the highest percentage growth in market cap during Q1 2020. These figures reflect not just price surges but also increased investor confidence, network developments, and strategic partnerships.
What Defines Market Cap Growth?
Market capitalization — or "market cap" — is calculated by multiplying a cryptocurrency’s circulating supply by its current price. A significant increase in market cap typically signals strong momentum, whether driven by organic demand, technological upgrades, or improved market sentiment.
In Q1 2020, several projects stood out not for their size, but for their percentage growth, revealing emerging trends and hidden gems in the blockchain space.
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10. INO Coin (INO) – +11.06%
Kicking off the list at number 10 is INO Coin (INO), a project focused on decentralized fundraising solutions. Having reached its two-year milestone by early 2020, INO Coin showed steady growth with an 11.06% increase in market cap during the quarter.
While not a household name, its performance highlights growing interest in tokenized crowdfunding and community-driven investment models — areas expected to expand as decentralized finance (DeFi) gains traction.
9. NEM (XEM) – +11.85%
Coming in at ninth place, NEM (XEM) posted a modest yet notable +11.85% rise in market capitalization. More than just a numbers game, Q1 2020 marked a turning point for the project as it announced plans to rebrand — including a new name and logo — signaling a fresh chapter for the long-standing blockchain platform.
This rebranding effort aimed to modernize NEM’s image and align it with evolving enterprise blockchain demands, particularly in Asia where the project maintains a strong developer community.
8. Tezos (XTZ) – +19.71%
Tezos (XTZ) secured the eighth position with a solid +19.71% market cap gain. The boost came amid growing recognition of its self-amending blockchain architecture and on-chain governance model — features that attracted institutional developers and staking participants alike.
Its ability to implement protocol upgrades without hard forks gave Tezos a competitive edge during a time when network stability and adaptability were increasingly valued.
7. Chainlink (LINK) – +25.67%
At seventh place, Chainlink (LINK) continued its ascent into mainstream relevance with a +25.67% market cap increase. The highlight of Q1 was LINK reaching an all-time high price just under $5 in March — fueled by expanding adoption of its decentralized oracle network across DeFi platforms.
As more smart contracts required secure off-chain data inputs, Chainlink became the go-to solution, cementing its role as critical infrastructure in the Web3 ecosystem.
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6. LEO (LEO) – +27.38%
LEO, the utility token issued by the Bitfinex exchange, climbed to sixth place with a +27.38% market cap growth. This performance reflected continued confidence in the exchange despite past controversies, supported by transparent financial reporting and ongoing buyback programs.
Holders benefited from reduced supply and enhanced utility within the Bitfinex trading ecosystem — a model that demonstrated resilience even during volatile markets.
5. Zcash (ZEC) – +27.94%
Securing fifth position, Zcash (ZEC) achieved a +27.94% increase thanks to positive developments such as the introduction of a development fee and integration with Binance Futures. These moves improved transparency and expanded trading opportunities for privacy-focused investors.
Zcash’s emphasis on optional anonymity continues to differentiate it in a landscape where regulatory scrutiny is rising — making it a preferred choice for users seeking financial privacy without full opacity.
4. Dash (DASH) – +58.47%
Dash (DASH) claimed fourth place with an impressive +58.47% market cap surge. This growth was driven by aggressive expansion efforts, including strategic partnerships and the deployment of over 10,000 crypto ATMs across Mexico — significantly boosting real-world usability.
Dash’s focus on instant payments and merchant adoption positioned it as one of the few cryptocurrencies actively used for everyday transactions — a key factor in sustaining long-term value.
3. Crypto.com Coin (CRO) – +61.34%
In third place, Crypto.com Coin (CRO) recorded a +61.34% increase despite a low price point of around $0.05. The growth was fueled by aggressive user acquisition strategies, including the launch of a popular crypto credit card program and widespread app downloads.
With increasing demand for integrated financial services — from staking to payments — CRO’s ecosystem expansion resonated strongly with retail investors looking for tangible utility.
2. Bitcoin SV (BSV) – +72.90%
Bitcoin SV (BSV) took second place with a remarkable +72.90% market cap gain. Early 2020 saw BSV reach an all-time high above $441, driven by fervent support from its core community and the anticipation of its first halving event in April.
Despite controversy surrounding its vision of unlimited block sizes, BSV maintained a loyal following and high on-chain transaction volume — contributing to its strong performance during the quarter.
1. OKB – +147.25%
Topping the list was OKB, the native token of OKEx exchange, which surged by an astonishing +147.25% — the highest among all top 10 gainers. OKB reached a peak price of $7.50 in February 2020, driven by platform-wide token burns, increased exchange volume, and enhanced utility across trading fee discounts and subscription services.
Beyond financial metrics, OKB also ranked first on social engagement platforms — indicating strong community momentum and brand loyalty.
👉 Learn how exchange-based tokens are reshaping investor incentives in 2025.
Why OKB Outperformed BTC and Others
While Bitcoin remained dominant in terms of total market cap, it didn’t make this list due to relatively flat performance in Q1 2020. In contrast, OKB’s triple-digit growth illustrates the rising influence of exchange utility tokens — assets that derive value from real-time platform usage, buybacks, and ecosystem integration.
This trend highlights a shift: investors are no longer just betting on decentralized networks but also on high-utility digital assets backed by active trading ecosystems.
Frequently Asked Questions
Q: Why isn’t Bitcoin (BTC) on this list?
A: Bitcoin wasn’t among the top gainers by market cap percentage in Q1 2020. While it maintained its position as the largest cryptocurrency by total market cap, its price and valuation remained relatively stable compared to high-growth altcoins like OKB and BSV.
Q: What factors contributed to OKB’s massive growth?
A: OKB’s surge was driven by regular token buybacks and burns, increased trading volume on OKEx, expanded use cases (such as payment options and subscription services), and strong community engagement across social platforms.
Q: Is market cap growth a reliable indicator of future performance?
A: While past performance doesn’t guarantee future results, sustained market cap growth often reflects underlying fundamentals such as adoption, utility, and investor confidence — all important signals for long-term potential.
Q: How does Chainlink support DeFi applications?
A: Chainlink provides decentralized oracle services that connect smart contracts with real-world data (like asset prices or weather information), enabling accurate and secure execution of automated agreements across various DeFi protocols.
Q: Were any privacy coins featured in this ranking?
A: Yes, Zcash (ZEC) ranked fifth with +27.94% growth. It stands out for offering optional transaction privacy through zero-knowledge proofs, appealing to users who prioritize financial confidentiality.
Q: What role do crypto ATMs play in adoption?
A: Crypto ATMs like those deployed by Dash in Mexico simplify access to digital currencies for unbanked populations and casual users, promoting real-world usage and increasing network visibility and liquidity.
Final Thoughts
The Q1 2020 market cap gainers list reveals a dynamic crypto landscape where innovation, utility, and community engagement can drive exponential growth — sometimes surpassing even the most established names. From privacy coins to exchange tokens, each project on this list leveraged unique advantages to capture investor attention during a transformative quarter.
As the blockchain ecosystem evolves, understanding these patterns helps investors identify not just short-term winners, but long-term innovators shaping the future of finance.