Year In Review: Top Five Cryptocurrencies In 2019

While the cryptocurrency total market capitalization has retraced from yearly highs recorded in late June at $372 billion USD to $193 billion, as at time of writing, some digital assets have performed exceptionally well since opening the year on a bearish note. In this article we focus on the top five coins in returns in the past 12 months including Chainlink (LINK), Binance Coin (BNB), Bitcoin (BTC), Litecoin (LTC) and Bitcoin Cash (BCH).

Over the past 12 months, the cryptocurrency market has struggled to stay above the $200 billion USD mark despite having top coins such as Chainlink (LINK), Binance Coin (BNB), Litecoin (LTC), Bitcoin (BTC) and Bitcoin Cash (BCH) growing substantially across the year.

(We selected the cryptocurrencies from the top 50 coins through the year, with liquidity being a key factor we considered. Stablecoins are not eligible given the low volatility. The opening price was recorded on Jan 1st 2019 0500 h UTC+3)

No. 5: Bitcoin Cash (BCH)

Currently trading 7.5% up in the past 24 hours, BCH made it to our top five list despite constant hate and rebuke from the BTC maximalists. Bitcoin’s largest fork, racked in close to 40% through 2019 to trade at $205 USD as at time of writing.

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During the bullish run in mid-2019, the coin hiked to $484 USD, marking a yearly high. Despite the spike through 2019, BCH remains well off its all-time high recorded in 2017 – falling 93.6% since.  BCH is the fifth largest cryptocurrency with a total market cap of $3.75 billion USD.

No. 4: Litecoin (LTC)

Litecoin is one of the most interesting coins in 2019. The BTC-esque coin successfully completed its halving (block rewards reducing from 12.5 LTC to 6.25 LTC) in May a move that saw the coin boost over 100% a month prior to the event. LTC opened its 2019 account trading at $29.86 USD before boosting to $92.76 USD a month prior to the halving.

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Despite continuing the bullish push till $141 USD (yearly high), a reversal quickly ensued as the coin lost over $100 USD, to trade at $41 USD, as at time of writing. Some traders attribute the selloff to overall market dampening and miners capitulating to make profits from the LTC mined, given the halving of the reward.

Litecoin is the sixth largest coin with a total market capitalization of $2.6 billion USD.

No. 3: Bitcoin (BTC)

Bitcoin (BTC) started the year off trading at key support levels at $3,500 and saw a sustained bullish run towards a two-year high at $13,893 USD in late June, before retracing to current support levels at $7,500, after a failed push to $7,650 USD.

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While the market balances on key support levels at $7,200 USD at the moment, the market looks set to be decided at the start of 2020, with a move towards $8,000 or $6,500 USD possible.

Bitcoin is the largest cryptocurrency dominating with 68% of the total market share. Can the coin breach 70% dominance in the coming year?

No. 2: Binance Coin (BNB)

The excellent performance of BNB through 2019 has quashed any doubts on the coin maintaining its top 10 place in the coming future. The coin started off the year at $6.08 USD and saw tremendous growth as the successive BNB coin burns and BTC’s hike pushed the coin past the $39 dollar mark to trade at $39.68 USD on Jun 22nd, representing 5.5 X gain in the first half of the year. Currently trading at $13.08 USD, BNB coin still enjoys a year to date return of over 116%.

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BNB currently ranks as the eighth largest crypto in market capitalization. With Binance gaining more products and its user reach increasing exponentially, 2020 looks bright for BNB.

No. 1: Chainlink (LINK)

And the crypto CHAMPION of 2019 has to be Chainlink (LINK) which saw a 2017-like soar as the price gained close to 1500%, trading at an all-time high of $4.49 USD in June. This represents a 1448% increase from $0.29 USD price on Jan 1st 2019.  The parabolic growth in LINK’s price saw the coin top our charts as the coin of 2019. Furthermore, the coin topped at ninth position among the top 10 largest cryptos at its peak.

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Currently, the token trades at $1.88 USD, representing 580% increase since January holding out the 18th position on Coinmarketcap charts.

Data collected on Coinmarketcap and Coingecko

The post Year In Review: Top Five Cryptocurrencies In 2019 appeared first on BitcoinLinux.

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