Bitcoin Market Shakeup: How Top Coins Stack Up Against Bitcoin in 2024
Bitcoin remains the undisputed king of crypto, holding onto a whopping 53% of the market share. However, the performance of its competitors paints a more diverse picture.
Ethereum (ETH): While still the second-largest crypto, ETH trails behind Bitcoin in terms of growth. Year-to-date, it’s actually down slightly against BTC, falling by over 1% and over 10% in the past six months.
Tether (USDT): This stablecoin, pegged to the US dollar, reflects the broader market trend. It’s depreciated by roughly 48% against Bitcoin since January, mirroring Bitcoin’s own gains against the dollar.
Binance Coin (BNB): Bucking the trend, BNB has shown impressive strength. It’s surged by 23% against Bitcoin so far in 2024.
Altcoin Performance:
- Solana (SOL): Maintains a modest gain against Bitcoin year-to-date, but has seen a slight uptick in the last six months.
- XRP: Has taken a significant hit, losing 40% against Bitcoin this year.
- Toncoin (TON): The newcomer to the top ten is a standout performer, boasting a massive 116% increase against Bitcoin year-to-date.
- Dogecoin (DOGE) & Cardano (ADA): Both have experienced losses against Bitcoin, with ADA suffering a steeper decline of 50%.
- Tron (TRX) & Avalanche (AVAX): Round out the list with losses of 13% and 52% respectively, measured against Bitcoin.
What do you think?
This information provides a snapshot of how major cryptocurrencies have fared against Bitcoin in 2024. Share your thoughts in the comments below!
- Do any of these trends surprise you?
- What factors do you think are influencing these performances?
- Which altcoins are you keeping an eye on for the rest of the year?
