2023 Crypto Winners: Solana and Avalanche Top the List with 620% and 290% YTD Price Growth

December 21, 9:44 am

Despite challenging economic and regulatory conditions, cryptocurrencies made a serious comeback this year, surprising many investors who claimed the crypto market was dead. The world's largest and most expensive digital coins, Bitcoin and Ethereum, saw their prices rise high above last year's level, growing by 152% and 85%, respectively. But that is nothing compared to the price growth of Solana and Avalanche, the top-performing cryptos among the top ten.

According to data presented by AltIndex.com, Solana is the biggest crypto gainer in the top 10 club, with its price surging by an whopping 620% year-to-date. Avalanche follows with just as impressive 290% growth.

Solana Saw 4x Bigger Price Growth than Bitcoin

According to CoinMarketCap data, Solana was undoubtedly the best performer among the ten largest cryptocurrencies this year. In January, the price of a single SOL token stood at $12.12; at the time of writing, it was $87.3, showing a massive 620% increase year-to-date. Moreover, this shows that Solana saw four times bigger price growth than the world's largest crypto, Bitcoin.

This impressive price surge has helped the world's fifth-largest cryptocurrency to add more than $32bn to its market cap, rising from $4.3bn in January to almost $37bn last week. But despite reaching a 2023 high, Solana's price is still nearly three times below its all-time peak of $259.96, seen at the end of 2021.

Avalanche ranked as the second-largest crypto gainer in 2023. Over the past twelve months, the price of a single AVAX token has soared by 290%, rising from $11.7 to $45.7. The market cap of the world's ninth-largest crypto has increased by almost $13bn since the beginning of the year and now stands at $16.5bn. The IntoTheBlock data also gave an interesting insight into a share of Avalanche investors with gains, with 78% making money at the current price.

Bitcoin saw the third-largest price growth among the top ten cryptos this year. After being at the center of the crypto price crash, losing millions of active addresses and billions in market cap, BTC drew a lot of attention from mainstream investors this year, helping it double in value. In January, the price of one BTC was around $17.400, and now it's $44,000. Cardano and Ethereum round the list of the top five crypto performers, with 140% and 85% price increase year-to-date, respectively.

Five Best-Performing Cryptocurrencies Make up 72% of Total Market Value

Although there are more than 8,900 digital coins in the crypto space, these five top-performing cryptocurrencies make up most of the market value.

According to CoinMarketCap data, Bitcoin, Ethereum, Solana, Avalanche, and Cardano now make up 72% of the total crypto market cap, with a combined value of $1.19trn as of last week. Bitcoin alone accounts for 51% of the global crypto market cap, as the total value of all BTC coins hit $851bn last week.

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