- Bitcoin reached an all-time high at $29,000
- Polkadot, BNB, Chainlink, and Cardano all saw high rises this year
- XRP continues to fall.
We have finally reached the final day of the year 2020. Let’s see which cryptocurrencies have performed the best so far.
Bitcoin has had a tremendous year. It has reached its highest price value so far, at $29,055. The highest before this was in 2017, at $20,000. Bitcoin was the cryptocurrency to hit the market and has since been the number one cryptocurrency on the market by price and popularity.
As you can see from the graph above, Bitcoin shows no signs of slowing down. Its price is expected to keep rising until the end of this year.
Ethereum also had a very exciting year. Currently, ETH stands at $745. It has faced highs and lows this year, but not something to be concerned over. The price of Ethereum could see a high rise soon. Phase 0 of Ethereum 2.0 was launched earlier this month. We can expect a lot more from Ethereum in the coming year.
Ethereum is the second most popular cryptocurrency on the market. It is also the second-highest on the market based on market capitalization. This could change, with the new year may bring a lot of surprises.
At rank 3, we have Tether, the most popular stablecoin. Most users adopted USDT as their go-to token to safely keep their cryptocurrencies at times of high volatility. USDT is pegged to the US Dollar, and so, its price only fluctuated between $0.99 and $1.01. It also consistently takes the top 1 position for 24-hour trade volume.
XRP was on a very decent rise for most of the year. Over the last couple of months, however, XRP was sued by the SEC. It lost a lot of support and was delisted from some major cryptocurrency exchanges. Over this period, XRP fell hard. It lost over 60% of its value after the allegations and further fell over 30% more after being delisted from Coinbase.
XRP founders and CEO are confident in battling out the storm and believe that XRP will make a comeback. XRP currently stands at the market price of $0.21. A hard fall from its highest price of $3.40.
The ‘Silver to Bitcoin’s Gold’, Litecoin has also been a top contender since its arrival from the Bitcoin blockchain’s hard fork. Litecoin too has had an interesting year. Much like Bitcoin, it spent a good part of the year at a decent level and then soared to a higher price towards the end. Litecoin, at press time, stands at $126, and it could still see changes till the end of the year.
A promising new contestant has made it onto the top of the cryptocurrency charts this year. Polkadot entered the game earlier this year and made further strides when they announced their new parachains testnet launch earlier this month. Like Ethereum, they have big plans for the coming year ahead. At press time DOT stands at an impressive $7.99.
Bitcoin Cash (BCH)
Once holding the rank of the third-highest cryptocurrency, Bitcoin Cash is still one of the strongest cryptocurrencies out there. With its high potential and scalability, it will always remain a very capable cryptocurrency. BCH was at its highest in price this year, at $491.99 in mid-Feb, and is currently at $352.65. We are excited to see where BCH will find itself in the coming year.
Another familiar name on the list is Cardano. It too seems to have had a pretty successful year. Starting from $0.03 at the beginning of this year, Cardano hit its highest price this year at $0.19 yesterday. At press time it stands at $0.17 and could very well see another high run next year.
Binance Coin (BNB)
Binance has also become a big name in the industry. The more popular Binance exchange got, the more popularity Binance Coin gained. Binance coin too had a fantastic year. It reached its highest price this year at $38.22 and it is currently at $37.45. An awesome rise from its $13.72 at the start of the year.
Chainlink, Oracle’s decentralized network, saw a steady rise throughout most of this year. It almost reached $20 in August. It is currently at $11.19. This year has seen an increasing demand for Chainlink’s technology. It will be interesting to see where Chainlink will stand in next year’s top cryptocurrency poll.
Overall, it seems that 2020 has been a good year for cryptocurrencies. Let’s keep a close eye on these coins in the coming year. Not to mention, other top contenders such as Monero, Stellar, EOS, Bitcoin SV, and Tron. There may be a lot more surprises in store for the new year.