Summary:
Bitcoin hits historic highs thanks to spot ETF approvals and political factors.
Pepe (PEPE) sees a 1,492% surge in market cap.
Sui (SUI) rises by 1,193%, attracting attention from the DeFi community.
MicroStrategy stock increases by 464%, outperforming Nasdaq competitors.
XRP rebounds, becoming the fourth-largest cryptocurrency with a 286% increase.
Bitcoin has reached historic heights this year, primarily driven by the approval of spot ETFs in the U.S. and the election of Donald Trump. However, several other cryptocurrencies have outperformed even Bitcoin. Decrypt conducted an analysis using data from CoinGecko and Nasdaq to highlight the top-performing coins of the year, focusing on those with a starting market cap of at least $500 million from January 1 to December 17.
Pepe: The Unlikely Meme Coin Champion
One of the standout performers is Pepe (PEPE), a meme token that launched last year. Based on the Pepe the Frog internet meme, it started the year with a market cap of $590.8 million and surged to $9.4 billion by December 17, marking an impressive 1,492% increase.
Sui: The Emerging Altcoin
Sui (SUI), created by former Meta engineers, has also made waves since its launch in May 2023. Its market cap skyrocketed from $925 million to nearly $12 billion, representing a 1,193% rise, making it the 18th largest cryptocurrency.
MicroStrategy: The Bitcoin Stock Winner
MicroStrategy (MSTR), led by Michael Saylor, has seen its stock price soar from below $70 to nearly $386, a 464% increase, positioning it as a top performer on the Nasdaq.
Dogecoin: The Original Meme Coin
Dogecoin (DOGE), the first meme coin, saw its market cap jump by 342% this year, reaching $45.9 billion, aided by Bitcoin's surge.
XRP: A Comeback Story
XRP has rebounded significantly, becoming the fourth-largest cryptocurrency with a market cap increase of 286%, attributed to its utility in facilitating cross-border transactions and a favorable ruling in its ongoing legal battle with the SEC.
BlackRock's iShares Bitcoin Trust (IBIT)
An honorable mention goes to BlackRockâs iShares Bitcoin Trust (IBIT), which has quickly surpassed $50 billion in assets under management, making it one of the most successful Bitcoin ETFs in history.
This year has showcased a diverse range of cryptocurrencies that not only complement but sometimes outshine Bitcoin, reflecting the dynamic and rapidly evolving landscape of the crypto market.
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