Altcoins
Forbes Names Top 10 Altcoins for 2024
The world’s leading magazine Forbes has identified the ten cryptocurrencies that have performed best in the cryptocurrency landscape, defeating Bitcoin so far this year.
In a recent publicationForbes explored the cryptocurrency market and found that meme-inspired cryptocurrencies are the top investment vehicles that offer the best returns to investors in the first half of 2024.
Cryptocurrency Market Hits $661 Billion in First Half of Year
The report revealed that the cryptocurrency market received new capital totaling $661 billion in the first half of 2024. Interestingly, Bitcoin alone attracted 61% of that amount, or more than $409 billion.
In particular, the massive inflow of $661 billion into the market was influenced by the launch of the inauguration Spot ETFs on Cryptocurrencies As a result, Bitcoin has broken numerous records in the United States, setting a new all-time high above $73,000 several weeks before its 2024 halving.
Bitcoin is currently priced at $63,220 per coin, reflecting a 49.53% annual gain. Its closest rival, Ethereum, boasts a similar percentage return.
Meme Coins Are More Profitable Than Bitcoin
Meanwhile, Forbes confirmed that Bitcoin’s impressive rally was eclipsed by the performance of several meme tokens with little intrinsic value. These tokens fluctuated wildly in Q1 as social media-driven traders flocked to the market.
Among the billion-dollar meme coins that surpassed Bitcoin this year was Dogwifhat (WIF) token based on SolanaAt $2.17, WIF is posting an astonishing YTD return of 1,322% despite its value plummeting by more than 16% in the last 90 days.
Another notable performer in the first half of the year is PEPE, a token inspired by the frog-themed internet meme of the same name. With a current trading price of $0.00001192, Pepe has seen its value skyrocket by over 820%, even hitting a new ATH.
The most important meme coin in the BNB chain, Flokifollowed closely with a gain of over 425% this year, similarly outpacing Bitcoin.
Seven More Crypto Assets That Surpassed Bitcoin
Several other cryptocurrencies, both inside and outside the meme coin space, have also outpaced Bitcoin’s gains.
Notable examples include Artificial Superintelligence Alliance (FET), which is up 101%; JasmyCoin, up 343%; Toncoin, up 22%; Arweave (AR), which is up 185%; Core, up 152%; Bitget (BGB), up 85%; and To beatwhich recorded a 95% increase.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the personal views of the author and do not reflect the views of The Crypto Basic. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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