2024 strongest currency! Foreign media: these 4 currencies all outperform BTC, MicroStrategy's annual increase nearly 500%

BTC this year hit a historic high, mainly due to the approval of the US Spot ETF, as well as the subsequent push from Trump’s election - despite the superior performance of other assets.

Decrypt analyzed data from CoinGecko and Nasdaq to determine the best-performing cryptocurrencies. The qualifying assets must have a starting market cap of at least $500 million between January 1st and December 17th.

Other digital asset investments, including investments in some major companies, have also performed well. Here is an overview of the best-performing assets this year.

$PEPE - The meme coin that won this year

$PEPE is one of the newer meme token, which emerged in the market last year. The token is based on Pepe the Frog, an internet cartoon character that was later labeled as a hate symbol by the Anti-Defamation League because it was adopted by far-right groups in an unusual manner.

Pepe reached a new all-time high in December. The market cap of this Ethereum-based token was $590.8 million at the beginning of the year, and it reached $940 million on December 17th, an increase of 1,492%.

Pepe becomes headline news - with its typical meme-style, it has gained attention for its absurd growth in value and making a few traders rich. But unlike many strange assets in the meme token industry, Pepe continues to rise and is now the 28th largest cryptocurrency by market capitalization.

Sui ($SUI) - King of Altcoins

Not long ago, the relatively unknown Sui ($SUI) emerged: the blockchain was launched in May 2023 and was developed by former Meta (formerly Facebook) engineers, and now has an active DeFi community that utilizes its fast network.

The native token $SUI of the fast blockchain Sui has risen significantly this year. In January, the market value of $SUI was $925 million. By December, after a 1,193% increase, its market value reached nearly $12 billion. $SUI is now the 18th largest cryptocurrency by market capitalization.

MicroStrategy ($MSTR) - Winning BTC Stocks

Michael Saylor’s software company has gone all-in on BTC this year - the company’s stock shows that at the beginning of the year, the stock price was less than $70 per share.

By December, the stock price had nearly quintupled to $386, a 464% increase, outperforming all other stocks on the Nasdaq, including Nvidia.

MicroStrategy was once an obscure software company. Since 2020, the company has started buying Bitcoin (BTC) and rebranded itself as the ‘BTC Treasury Company’. This year, the company based in Tyson, Virginia has accelerated its BTC purchases, promising the best BTC investment opportunities for speculators.

Investors, including hedge funds seeking volatility returns, are pouring into the stock.

Dogecoin

The original meme coin. Dogecoin ($DOGE) was initially created as a joke to mock the proliferation of altcoins, and it has now become the seventh largest cryptocurrency by market capitalization.

This year, its market value has grown by 342%, reaching 45.9 billion US dollars. The rise of BTC undoubtedly played a driving role.

This is mainly attributed to Tesla CEO Elon Musk: the world’s richest person frequently released news about Dogecoin from 2020 to 2021. This year, in speculation about the currency’s use on his social media platform X (formerly known as Twitter), he mentioned Dogecoin again.

$XRP——The child who rises again in the East

$XRP has performed strongly this year. The token supports transactions on the Ripple network, which provides institutional blockchain solutions for cross-border payments.

The market value of the token has skyrocketed, now becoming the fourth largest cryptocurrency by market capitalization, growing from $34 billion to $131.2 billion, an increase of 286%. This month, it briefly surpassed Tether to become the third largest cryptocurrency by market capitalization. On January 1st of this year, it was still the sixth largest cryptocurrency by market capitalization.

The currency became headline news due to its dispute with regulatory agencies. In 2020, the U.S. Securities and Exchange Commission (SEC) filed a $1.3 billion lawsuit against Ripple, accusing the company of selling unregistered securities to raise funds.

However, last year, in a lawsuit with regulatory agencies, Ripple won a partial victory, with the judge ruling that the programmatic sales of $XRP to retail investors on cryptocurrency exchanges do not constitute securities.

Despite the judge ruling that the $728 million worth of tokens were used in an unregistered securities sale, Ripple and the entire cryptocurrency industry still interpret this decision as a victory.

BlackRock’s iShares BTC Trust Fund (IBIT)

Given the title of this article, we can consider it as an honorary nomination. This year has been an incredible year for Bitcoin (BTC), and the world’s largest asset management company has made a contribution by launching an ETF, making BTC, the largest and oldest cryptocurrency, accessible to everyone.

The iShares BTC Trust Fund is a traditional investment tool that allows investors to buy and sell shares tracking the price of BTC. These shares trade on the Nasdaq.

When it started trading in January, IBIT broke records with its record trading volume and inflows of funds: by December, its assets under management exceeded $50 billion, reaching this milestone in just 228 days, faster than any other ETF in history.

Several other top asset management companies have also launched BTC ETFs, but BlackRock’s product is the most successful.

This article is authorized to be reprinted from: “MarsBit”

Original author: Mat Di Salvo

『2024 strongest coin! Foreign media: These 4 coins have outperformed BTC, and the micro-strategy has risen by nearly 500% annually" This article was first published in “Crypto City”