Alternative digital currencies are making their presence felt at the opening of 2018, boasting impressive gains that are attracting investors to options previously considered risky.
World’s most significant cryptocurrency regarding market capitalization Bitcoin rallied 1,900 percent last year. However, the relatively cheap small-cap coins started to soar as Bitcoin price neared the $20,000 mark in December. The gains partly due to the rotation of money from an overbought Bitcoin helped the broader digital currency rally gather pace in 2018.
Ripple’s XRP token is currently the second most abundant digital currency by market capitalization, having 66 percent in 2018 so far. An impressive figure yet XRP ranks only sixth on the list of biggest gainers so far this year, among those rated in the top 25 by total value, as of 18:00 UTC.
Here are the large-cap digital currencies that are leading the pack:
Top 10 cryptocurrencies by percentage gained in 2018
TRON tops the table boasting 270 percent gains since January 1. The market capitalization of the digital currency has tripled this week to $10 billion, appreciating by 100 percent over the last 24 hours.
Ethereum-based cryptocurrency status network token (SNT) ranked second, gaining over 160 percent in value this year and is month-on-month up by 700 percent. Stellar slipped to number three after topping the list two days ago. It is currently the seventh largest coin with $9.97 billion market cap.
Ethereum’s native token Ether sits at the bottom of the table in 10th place despite a record high of more than $1,000 today, growing 28 percent this year.
Bitcoin ranks as low as 18, increasing by two percent this year, as prices have traded roughly sideways following the slump from its December all-time high.