Altcoins
Forbes Identifies The 10 Best-Performing Altcoins Of 2024
Global magazine Forbes has identified ten crypto assets generating the best performances in the crypto scene, beating Bitcoin so far this year.
In a recent publicationForbes explored the cryptocurrency market and found that meme-inspired crypto assets are the top investment vehicles offering the best returns to investors in the first half of 2024.
Cryptocurrency market generates $661 billion in first half
The report revealed that the cryptocurrency market received new capital totaling $661 billion in the first half of 2024. Interestingly, Bitcoin It alone attracted 61% of that figure, or more than $409 billion.
It is worth noting that the massive influx of $661 billion into the market was influenced by the launch of the first Cryptocurrency Spot ETFs In the United States, Bitcoin broke several records, setting a new all-time high above $73,000 several weeks before its 2024 halving event.
Currently, Bitcoin is sitting at $63,220 per coin, which represents a 49.53% gain since the beginning of the year. Its closest rival, Ethereum, is showing a similar percentage return.
Meme Coins Are More Profitable Than Bitcoin
At the same time, Forbes confirmed that Bitcoin’s impressive rise has been overshadowed by the performance of several meme tokens with minimal intrinsic value. These tokens fluctuated dramatically in the first quarter as social media-driven traders flooded the market.
Among the billion-dollar meme coins that surpassed Bitcoin this year was the Solana-based Dogwifhat (WIF) tokenTrading at $2.17, WIF has an astonishing YTD return of 1,322% despite falling in value by more than 16% over the past 90 days.
PEPE, a token inspired by the frog-themed internet meme, is another token that stood out in the first half of the year. With a current trading price of $0.00001192, Pepe has seen its value skyrocket by over 820%, even reaching a new ATH.
The most important meme coin on the BNB chain, Flokiclosely followed with a gain of more than 425% this year, also outperforming Bitcoin.
Seven Other Cryptoassets That Outperformed Bitcoin
Several other crypto assets inside and outside the meme coin space also outpaced Bitcoin’s gains.
Notable examples include Artificial Superintelligence Alliance (FET), which is up 101%; JasmyCoin, with a 343% increase; Toncoin, up 22%; Arweave (AR), which jumped 185%; Core, with a 152% gain; Bitget (BGB), up 85%; and Bonkwhich has seen a 95% increase.
Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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