Discover the four cryptocurrencies that beat the Nasdaq in 2024.
In 2024, the Nasdaq Composite Index achieved a year-to-date return of approximately 32.6%.
In contrast, several major cryptocurrencies outperformed the index, with some experiencing gains exceeding 100%. Here are details about these cryptocurrencies and their performance:
Bitcoin (BTC): +130%
Bitcoin's value surged by 130% in 2024, surpassing $100,000.
This growth was driven by factors such as favorable regulatory changes, including the approval of Bitcoin ETFs in the United States, and increased institutional adoption.
Bitcoin's market capitalization reached approximately $1.9 trillion, reinforcing its status as a leading digital asset appealing to institutional investors.
Ethereum (ETH): +49%
Ethereum continued to expand its applications in smart contracts and decentralized finance (DeFi) platforms.
The cryptocurrency benefited from increased institutional interest and favorable market conditions, contributing to a 49% gain in 2024. However, Ethereum's market capitalization remains less than half of Bitcoin's, though it continues to be a significant driver of innovation in the sector.
Solana (SOL): +75%
Solana distinguished itself with high transaction speeds and low fees, positioning it as a strong competitor to Ethereum in the DeFi space. The cryptocurrency attracted substantial investment and facilitated innovative projects, resulting in a 75% increase in value, outperforming many technology stocks.
Ripple (XRP): +247%
Ripple was the standout performer in 2024, with its value increasing by 247%.
This dramatic rise was attributed to legal victories against the U.S. Securities and Exchange Commission and the strengthening of global partnerships, solidifying Ripple's role as a reliable platform for cross-border payments.
These developments highlight the significant growth of cryptocurrencies compared to traditional indices and stocks.
However, it's important to consider the inherent risks associated with investing in the cryptocurrency market.
