Bitcoin hits all-time high
This year, Bitcoin The all-time highs were driven in part by the U.S. government’s acceptance of spot ETFs and in part by the election of Donald Trump. These factors have increased trust in Bitcoin and solidified its position as the world’s largest cryptocurrency. Despite making headlines, Bitcoin’s performance has lagged many other assets, suggesting that cryptocurrency investors have had a busy year.
Source: Bitcoin
Use information from CoinGecko and Nasdaq to identify the year’s top-performing digital currencies. Assets must have a market value of at least $500 million at the start of the year on January 1 and perform consistently through December 17 to qualify. Traders and investors were attracted.
Pepe: Meme Coin Champion
The best performing meme coins this year are Pepe (PEPE). The show was adapted from the online comic Pepe the Frog, which later caused controversy, and was launched last year. Despite the history, Pepe’s performance was extraordinary.
Pepe’s market value increased from $590.8 million at the beginning of the year to $9.4 billion in December. Thanks to its astonishing 1,492% gain, it has become one of the most talked about coins in the entire crypto world. Not only has Pepe’s rise been ridiculously fast, but it’s also been incredibly long-lasting for a joke coin. It rose to No. 28 in market capitalization, gaining a firm foothold in the market.
Source: Pepe
Sui: Rising Altcoin Star
This year, Sui (SUI) is rapidly rising as an altcoin. Created by former Meta programmers, the blockchain debuted in May 2023.
By December, SUI’s market capitalization had grown a staggering 1,193%, from an initial $925 million to nearly $12 billion. Due to its explosive growth, it is now the 18th largest cryptocurrency by market capitalization. Sui’s achievements reflect its solid foundation and rising position in the highly competitive cryptocurrency market.
MicroStrategy: Bitcoin Stock Leader
One of the best-performing stocks related to Bitcoin is micro strategy (MSTR). Michael Saylor’s company was once a small software company and has grown into a major Bitcoin holder. The company has doubled its Bitcoin investments this year, solidifying its position in the “Bitcoin Finance Company” category.
This is a very successful technology. At the beginning of this year, MicroStrategy’s stock price was below $70 per share. By December, its value rose 464% to $386. Major Nasdaq companies fared better, such as computing giant Nvidia. MicroStrategy appeals to investors who want to gain exposure to Bitcoin without actually owning the cryptocurrency.
Dogecoin: The Original Meme Coin
Dogecoin (DOGE) leads the meme coin market. After starting from a small scale, DOGE has grown into an important player in the digital currency market. It is now worth $45.9 billion, up 342% from a year ago.
Source: Dogecoin
Dogecoin’s continued popularity can be largely attributed to Tesla CEO Musk. His frequent mentions of DOGE and speculation about its possible integration into his Platform X (formerly Twitter) stoked investor excitement. Dogecoin rose to seventh place in terms of market valuation, demonstrating its resilience in the cryptocurrency space.
XRP: Coming back strong
Among the best-performing assets, Ripple Had a great year. Its market value grew 286% after rising by about $34 billion to $131.2 billion. XRP briefly surpassed Tether to become the third largest digital currency, but eventually ranked fourth.
Ripple, the company that created XRP, benefits from the partial court victory against the SEC. Ripple and the cryptocurrency industry scored a major victory when a judge ruled that automated sales of XRP to private investors did not comply with securities regulations. As a result, investor confidence grew and XRP started to gain traction again.
BlackRock iShares Bitcoin Trust
BlackRock’s iShares Bitcoin Trust (IBIT) received this honor. The ETF sets a new benchmark for the financial industry, giving traditional investors exposure to Bitcoin. As of December, it attracted more than $50 billion in assets, setting records for trading volume and inflows. It took just 228 days to reach this milestone—faster than any other ETF in history.
BlackRock’s success shows that institutional interest in cryptocurrencies is growing. Even though other asset managers have launched Bitcoin ETFs, IBIT’s popularity and performance make it stand out. By making Bitcoin more accessible to ordinary investors, ETFs solidify its place in the financial system.
This year has shown how digital assets can generate extraordinary returns. From institutional products like BlackRock’s ETFs to meme coins like Pepe, the cryptocurrency space has demonstrated its persistence and diversity.
Each success story highlights a unique aspect of the cryptocurrency industry. Pepe and Dogecoin are two community-driven coins that have thrived due to their popularity and cultural significance. Sui and other technologically advanced projects attracted attention for their unique qualities. Meanwhile, institutional products like BlackRock’s ETFs and MicroStrategy demonstrate how cryptocurrencies are becoming increasingly accepted in traditional finance.
The post Pepe, Sui, Dogecoin and More: The Outstanding Cryptocurrencies of 2024 appeared first on NFT Evening.
