Best Crypto by YTD Performance: Top 9 Cryptocurrencies

2024 was an exciting year for cryptocurrencywith Bitcoin reaching a new all-time high of over $70,000 in March.

Bitcoin could be the biggest cryptocurrency by market capitalizationbut it is not the best encryption this year in terms of performance.

And top performers are not just meme coins — there is a growing selection of established cryptocurrencies with long-term track records.

Top 9 Cryptocurrencies by YTD Performance

Below is a list of the nine best-performing cryptocurrencies with market caps above $10 billion – a number chosen to eliminate less established coins – ordered by year-to-date performance.

Announcement

Is cryptocurrency a good long-term investment?

Malcolm Ethridge, a financial advisor at CIC Wealth, a registered investment advisor in Maryland, said in an email interview that a small investment in crypto, while not “absolutely necessary,” can help provide some diversification for a long-term portfolio, as long as investors put some sensible hedges around it and limit their exposure.

“I think investors could cap their allocation to crypto at 5% and over the long term they would still be able to reap the benefits of being exposed to the asset class if it were to increase 10x as its biggest proponents hope, but it would also reduce the chances of us being wiped out if the asset class goes to zero tomorrow, which is also possible,” said Ethridge.

What is the best crypto to buy now?

The best crypto to buy now for a given investor will depend on their circumstances and goals. If you are using extra money to speculate on cryptocurrencies for fun, you may be inclined to look for small, high-volatility coins. altcoins.

But if you want to make a long-term cryptocurrency investment for diversification purposes, you may be more interested in mature coins like Bitcoin and Ethereumwhich have longer histories, larger market capitalizations, and greater adoption by major financial institutions.

When looking at the currencies in the table above, it is important to remember that returns are not everything. Many of the cryptocurrencies that are outperforming Bitcoin this year have significantly more limited use cases.

Toncoin (TON), for example, is an offshoot of a defunct blockchain-based web hosting scheme (“The Open Network” or “TON”) originally developed by social media app Telegram. Dogecoin (DOGE) It is Shiba Inu (SHIB) They are meme coins – joke altcoins that represent internet memes. And BNB (BNB) is the native currency of the hotly contested cryptocurrency exchange Binance.

These types of coins can sometimes post triple-digit returns in a matter of months, but investors should note that they are considerably smaller, less mature, more specialized, and more volatile than “blue chip” cryptocurrencies like Bitcoin and Ethereum.

Track your finances in one place

Start by signing up and linking an account.

How to add cryptocurrency to your portfolio

In Ethridge’s opinion, investors should focus on Bitcoin or look for a diversified market Cryptocurrency ETF.

“I think investors looking to gain exposure here should exclusively own bitcoin, as it is the largest and most mature cryptocurrency by a wide margin, or they should invest through a crypto ETF that holds 10 to 20 legitimate, established tokens for all you in one place,” Ethridge said.

“This approach will help make trading and tracking easier, as well as help keep costs down, as these things are very expensive to trade,” he said.

The author owned Bitcoin at the time of publication.

Fuente