This article will examine the top 10 crypto gainers of Q1 2023 and what made them stand out

The first quarter of 2023 was a remarkable period for the crypto market, as it recovered from the losses of 2022 and reached new heights. The total market capitalization increased by 48.9%, from $831.8 billion on January 1 to $1.24 trillion on March 31, according to CoinGecko. The average daily trading volume also rose by 30%, reaching $77 billion by the end of the quarter.

Among the top 300 cryptocurrencies by market cap, some coins performed exceptionally well, posting gains of over 300% in Q1 2023. Factors such as new narratives, partnerships, innovations, and market sentiment drove these coins and were acknowledged as crypto gainers in Q1. This article will examine the top 10 crypto gainers of Q1 2023 and what made them stand out.

1. FLEX Coin (FLEX): FLEX is the native token of the CoinFLEX exchange, a cryptocurrency derivative exchange and yield protocol that offers decentralized finance (DeFi) products, such as flexUSD (an interest-generating stablecoin) and an Automated Market Maker (AMM). Industry heavyweights, such as Polychain Capital and Dragonfly, back the exchange

2. SingularityNET: The native token for the SingularityNET exchange, a decentralized artificial intelligence (AI) market, is SingularityNET (AGIX). The exchange uses blockchain technology's promise to provide unrestricted trade algorithms and applications access. Its goal is to deliver Artificial General Intelligence (AGI), guaranteeing an equitable distribution of wealth, power, and technology worldwide.

3. Kaspa (KAS): The utility token Kaspa (KAS) powers all ecosystem operations, including rewarding miners. The GHOSTDAG protocol is used by the proof-of-work (PoW) blockchain known as Kaspa. GHOSTDAG doesn't leave orphaned parallel blocks, in contrast to historical blockchains. It increases the security of the blockchain by allowing them to coexist and be arranged in consensus.

4. Conflux: The Conflux network's native currency, Conflux (CFX), is used to cover transaction costs, pay for storage, participate in network management, and pay out rewards to miners. Dedicated to resolving the blockchain trilemma of decentralization, security, and scalability, Conflux Network is a Layer 1 (L1) blockchain.

5. JOE: The native currency of Trader Joe, a decentralized exchange (DEX) constructed on the Avalanche network, is called JOE (JOE). The exchange provides many DeFi services, including yield farming, staking, and trading. Since its debut in June 2021, Trader Joe's has rapidly developed, amassing about $4B in total value locked (TVL).

6. Stacks: The goal of the cryptocurrency project Stacks is to introduce smart contracts and decentralized applications (dApps) to Bitcoin to maximize the network's potential. It is intended to be a Layer 1 solution with Bitcoin acting as its foundation. The execution of smart contracts, the handling of transactions, and the registration of new cryptocurrencies are all powered by the Stacks token (STX).

7. FLOKI: While FLOKI initially began as a token with a dog-related name, similar to Dogecoin (DOGE) and Shiba Inu (SHIB), a closer examination reveals that it is much more than that. FLOKI has already created multiple widely used flagship cryptocurrency projects. Due to token burning, a listing on KuCoin, and Elon Musk, whose dog-themed tweets frequently cause related meme coins to surge, FLOKI experienced a 308% increase in value in Q1 2023.

8. Artificial Liquid Intelligence (ALI): The Alethea protocol uses the Artificial Liquid Intelligence (ALI) token to build AI visuals of the Artificial Liquid Intelligence (ALI) token to build AI visuals that are based on user inputs. Its photographs can be utilized as assets for video games, advertisements, and digital art. Additionally, Alethea AI has released CharacterGPT, which generates AI characters for the blockchain using text-to-character creation.

9. inSure DeFi: A community-based blockchain insurance company called "inSure DeFi" allows you to protect your digital assets by purchasing SURE tokens with fiat or other digital currencies. Through a liquidity pool, inSure distributes asset ownership risks.

10. Alchemy Pay (ACH): An ERC-20 token called Alchemy Pay (ACH) drives the Alchemy Pay infrastructure and is used to create rewards and pay transaction fees. With the help of the hybrid payment infrastructure known as Alchemy Pay, users may conduct business and make purchases using both digital assets and fiat money.