2024 saw Bitcoin hit an all-time high, thanks to the approval of a spot ETF in the US and major political events. But it's worth noting that several other assets in the crypto space have outperformed Bitcoin.
Top Overperforming Assets of 2024
1. Pepe (PEPE): The Most Successful Meme Coin
Pepe, a meme coin inspired by the character "Pepe the Frog," has grown 1,492% in just one year. With a starting market capitalization of $590.8 million, $PEPE rose to $9.4 billion in December, becoming the 28th largest coin globally. Pepe's success demonstrates the special appeal of meme tokens, which not only attract investors but also create surprising stories of wealth.
2. Sui (SUI): High Speed Blockchain For DeFi
Sui, a blockchain developed by former Meta engineers, stands out for its fast processing speed and vibrant DeFi ecosystem. The token $SUI grew 1,193%, from a market capitalization of $925 million to nearly $12 billion by the end of the year. SUI is now the 18th largest cryptocurrency by market capitalization, making a strong mark on the altcoin market.
3. MicroStrategy (MSTR): Bitcoin Stock Leading Nasdaq
Software company MicroStrategy, led by Michael Saylor, has transformed itself into a “Bitcoin treasury company.” MSTR’s stock price has surged nearly 464% from under $70 to $386, becoming the best-performing stock on the Nasdaq, surpassing even Nvidia. The move has attracted a number of hedge funds looking for high returns on Bitcoin.
4. Dogecoin (DOGE): The Original Meme Coin That Always Shines
$DOGE , the coin that started as a joke, has had an impressive year with a 342% increase in market capitalization, reaching $45.9 billion. The continued support from Tesla CEO Elon Musk continues to be a major driver of Dogecoin's growth.
5. XRP: The Mighty “Returner”
XRP, the coin used on the Ripple network for cross-border payments, saw its market capitalization increase by 286%, from $34 billion to $131.2 billion. It is the fourth-largest coin by market capitalization, especially after Ripple won a major legal victory against the SEC last year, which helped fuel a strong recovery.
6. BlackRock’s iShares Bitcoin Trust (IBIT): The Most Successful Bitcoin ETF
BlackRock, the world’s largest asset manager, has made its mark with the iShares Bitcoin Trust Bitcoin ETF. In just 228 days, the fund has attracted more than $50 billion in assets, making it the fastest ETF to reach this milestone in history.
Conclude
While Bitcoin has impressive milestones to reach in 2024, assets like Pepe, Sui, and even MicroStrategy stock have demonstrated their potential for outsized growth. Diversification in the crypto space has given investors more opportunities than ever before, from fun meme coins to promising blockchain projects.
The 2024 market is a testament to the strong vitality of the cryptocurrency industry, promising a promising 2025.