After having been in the middle of a directionless muddle for much of 2018, Bitcoin came back with a vengeance this year and went on an excellent rally that took it back to heights that had last been scaled back in 2017.
Bitcoin is the biggest cryptocurrency in the world by market cap and it is the token that ultimately decides the health of the market. However, it would come as a surprise to many that Bitcoin is in fact not the biggest gainer in 2019 so far. While no other crypto can quite match Bitcoin in terms of wealth or influence, it needs to be pointed out that there are 2,500 cryptocurrencies in total according to data from CoinMarketCap.
Chainlink is the Biggest Popular Gainer
According to data on CoinMarketCap, there are five coins that have gained more than Bitcoin this year. The five cryptocurrencies in question are Tierion, Ren, Binance Coin, Chainlink, and Huobi Token. The returns generated by these five tokens this year so far has been nothing short of remarkable and the biggest gainer is Chainlink with a whopping 800% climb. To put the rise of Chainlink into perspective, no other coin in the crypto space managed to rise by more than 400%.
By contrast, Bitcoin’s incredible run this year so far saw it gain 185% and although it is only 6th on the gainers list, the value added by that rise is the biggest in the crypto market. From a level of $3,764 at the start of the year, the token is now priced at $10.674 and the value it added to its market cap runs into the tens of billions.
Hence, the scale of the rise of Bitcoin cannot be matched by other coins. After the excellent run until June, Bitcoin hit a bit of a roadblock in July and much of August, which saw it losing momentum.
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