With the cryptocurrency market now increasingly in the green, it seems that every coin in the market is a winner. There seem to be a few outliers when it comes to year-to-date gains. Read on for five major cryptocurrencies that have seen their prices surge more than 200 percent since the beginning of the year.
April Brings Stability to Incredible Price Growth of Five Major Coins
While 2018 has been by far the worst year the cryptocurrency has ever seen, it seems that 2019 is bringing back the glory days of the market. The new year pushed the entire market in the green, adding value to cryptocurrencies few expected to perform.
There have, of course, been certain small-cap coins which rose over 100,000 percent, but they weren’t the biggest surprises of the year. Those typically had suspect volume to market-cap ratios hinting at low liquidity or, worse yet, market manipulation.
Out of the top 100 coins by market capitalization, the five that stood out are Binance Coin (BNB), Brave’s Basic Attention Token (BAT), Enjin Coin (ENJ), Ravencoin (RVN), and the Crypto.com Chain Token (CRO).
The five experienced a year-to-date growth of over 200 percent, with Enjin being the highest-growing project with a 374 percent increase in value since Jan. 1st.
A Diverse Group of Crypto Projects Outperform Expectations
When it comes to high-cap coins, Binance’s own BNB dominated the market. Released in July 2017, the company’s ICO raised over $15 million making it among the highest-grossing offerings at the time. BNB‘s 310 percent year-to-date growth is attributed to the launch of Binance Chain, the exchange’s very own decentralized blockchain platform. Its speed and scalability have made it a direct competitor to Ethereum and its effect on the industry has been compared to the Coinbase effect of 2018.
Brave Browser’s Basic Attention Token (BAT) has also seen a meteoric rise in value. The Browser’s integration with high-profile websites such as The Guardian, The Washington Post, and Vimeo have pushed the coin’s price from $0.12 in January to $0.42 at press time. According to data from CoinMarketCap, BAT is now the 22nd coin by market capitalization.
Created in order to simplify blockchain gaming, Enjin offers a flexible and free platform for creating, integrating and scaling tokenized gaming assets. Its native Enjin Coin (ENJ) was built on Ethereum’s ERC20 protocol and has a market cap of $148.95 million. According to data from Coincodex, the coin’s value increased over 370 percent since its Jan. 1st point, making it one of the best-performing coins on major exchanges such as Binance.
Following closely is Ravencoin (RVN) with year-to-date growth of 365 percent. The open-source, Bitcoin-based project saw a 122 percent price increase in the first week of March. Many have attributed its growth to the implementation of the Lightning Network protocol, as well as the introduction of a USD/RVN trading pair. Support from Binance’s Changpeng Zhao also gave the coin more legitimacy.
CRO, the native token of Crypto.com, has increased from $0.02 at the beginning of the year to $0.08 at press time. The 298 percent rise was the result of two significant peaks that happened since January, with the biggest one seen following the coin’s listing with Upbit in March.Filed Under: Altcoins, Price Analysis, Trading
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