Our analysis of the Top 10 cryptocurrencies shows that the one with the biggest gains this year is Ripple (XRP).
Currently there are almost 1400 cryptocurrencies and it is impossible to know them all. For our comparison we took the Top 10 cryptos from the beginning of the year and the Top 10 Cryptos from the end of the year (based on market capitalization).
This way we ended up with 15 cryptocurrencies, because some from the beginning of the year fell out of the Top 10 and were replaced, also some of the current Top 10 cryptocurrencies did not even exist at the beginning of the year.
The result of our analysis shows that the best performer in 2017 was Ripple with an appreciation of 35627%, which means that it is now 356 times more valuable than at the beginning of the year.
Bitcoin is the most mentioned crypto in mainstream media, but with a 14x it is out of the Top 10 in our table. 1393% still is a lot, but under average and its competitors did a lot more. The average gains for cryptos in our table are 7488%
|P.||Cryptocurrency||2017/1/1 (USD)||2017/12/31 (USD)||Gains|
* did not exist in January 2017, price from the first day on exchanges
Very profitable investment in the Top10
As we already mentioned, there is a lot of cryptocurrencies and new ones are coming almost every day. Cardano, IOTA and Bitcoin Cash that are in the current Top 10 of cryptocurrencies based on market capitalization (source: Coinmarketcap.com) did not even exist in January.
But it is not that important, you could have made some serious profits even without them. An investment into every cryptocurrency from the Top 10 of the beginning of the year would bring you an average return of 6880%. It means that Bitcoin performed 5 times worse than average.
At the beginning of the year the Top 10 cryptocurrencies were: Bitcoin, Ethereum, Ripple, Litecoin, Monero, Ethereum Classic, Dash, MaidSafeCoin, Augur and Steem. An investment of $100 into each of these currencies ($1000 in total) on January 1 would now be worth $68800, which represents almost 69x.
All these numbers are crazy high and it shows that cryptocurrencies are on a massive rise. But don’t forget that nothing will grow forever, so should you invest into cryptos, do it only with money that you can afford to lose. And chose carefully your cryptocurrencies, learn about them as much as you can before investing.