The BONK meme coin emerged as the frontrunner in cryptocurrency growth, skyrocketing by a remarkable 7302% over the course of the year. Its token price stood at $0.0000146 on December 28, 2023. The coin’s success was solidified when it secured listings on prominent cryptocurrency exchanges like Binance and Coinbase. The token’s association with the Solana blockchain, which aims to challenge Ethereum’s dominance, may have also contributed to its surge.
The second and third spots in terms of price growth were claimed by the Injective cryptocurrency and CorgiAI, respectively. However, eight out of the top 100 cryptocurrencies experienced price declines in 2023. This group included Tether (USDT), USDC, Dai, BUSD, TrueUSD, Toncoin, Chiliz, and Sui.
According to CoinGecko analysts, the returns of the top ten cryptocurrency companies ranged from 632.8% to 7302.9% in the previous year.
CoinGecko’s research indicates that Bitcoin outperformed 65 out of the top 100 tokens, with its peak price surging by 162.5% from $16,540 to $43,418.
“BTC garnered considerable attention in 2023 due to applications for Bitcoin ETFs from major investment giants like BlackRock and Fidelity. The introduction of these exchange-traded funds has the potential to significantly increase investor accessibility and enhance the value of the original cryptocurrency,” experts noted.
Matrixport analysts asserted that the price of Bitcoin is poised for further escalation with the imminent arrival of the first ETFs.
In a recent development, the renowned rating agency Standard & Poor’s compiled a stable coin rating, where USDT received a relatively low score of four.