Although the Bitcoin and altcoin market is currently stagnating, most assets have provided positive returns to investors in 2021. According to data provided by Coin Metrics, the growth of the industry has resulted in 35 cryptos posting a cumulative average return of 2,432 percent year-on-year as of December 21. Cryptocoin. We are transferring the list as com…
According to CoinMetrics data, these 34 altcoins provided the most returns
According to CoinMetrics data, among assets, Axie Infinity had the highest gain with 17.213%, while DeFi-based The Sandbox (SAND) rose to second place with 13.832%. Bitcoin gained 62 percent after a turbulent year in which the asset reached record price levels alongside a significant correction. Bitcoin’s highest monthly gain appeared in October with 41 percent.
Ethereum investors gained an extra 433 percent with assets finding increased use in DeFi and NFT spaces along with a few network upgrades. Among meme coins, Dogecoin recorded gains of 3,433 percent after hitting the highest monthly growth of 515% in January.
Cryptocurrency space gains momentum
The gains reflect the overall growth in the popularity of cryptocurrencies in a year when institutional investors are increasingly entering the space. For example, Bitcoin’s rally accelerated earlier in the year after electric vehicle maker Tesla announced that it had purchased $1.5 billion worth of assets.
Also, like previous years, 2021 saw the volatility in Bitcoin reflect on other smaller cryptocurrencies, leading to the rise of meme coins. Dogecoin took the lead, soon followed by other entrants such as the Shiba Inu. However, the coin’s growth has garnered support from celebrities, including Tesla CEO Elon Musk. Also, regulatory pressure in China has caused cryptos to plummet.