We have left the year 2020 behind with more than 4000 cryptocurrencies already invented. When it comes to deciding which cryptocurrency to invest in, the choice can be a bit tricky as there are thousands of cryptocurrencies on the market. In this respect, in order to evaluate the coming year more clearly, we have reviewed our article on the best performing crypto coins in 2020 for you.
Doing your research and separating the valuable ones from the “unproductive” ones is difficult and time-consuming. After all, there is no single cryptocurrency that we can point to as the best of the best. Many cryptocurrencies offer quite attractive opportunities for investment depending on what you are looking for and what your investment goals are.
Here are the best performing cryptocurrencies in 2020!
1. Bitcoin (BTC)
Bitcoin, the ancestor of all cryptocurrencies, is the most well-known cryptocurrency on the market. It also has the largest market capitalization and is among the most traded cryptocurrencies, providing liquidity in the short term. Bitcoin is still the number one choice for existing and new investors with a market capitalization of $310,483,409,073 and a total volume of $32,923,683,623 (as of November 17, 2020). Bitcoin leads the way in terms of accepting all other cryptocurrencies as a means of payment.
Although Bitcoin has experienced numerous ups and downs over the past three years, it rose to $20,000 in December 2017 and fell below $10,000 weeks later. Bitcoin, which was $ 7,170 in early 2020, is trading at $ 18,800 towards the end of 2020, increasing its rapid rise by 260%.
2. Ethereum (ETH)
Ethereum, the currency and platform that made smart contracts part of the vocabulary of the cryptocurrency market, has gained great value since its launch in 2015. Ethereum, which currently only follows Bitcoin in terms of market capitalization, has become one of the most discussed cryptocurrency projects in the world.
With the momentum and market enthusiasm behind the Ethereum project and the rise of Ethereum, there is no reason to think that investors should consider Ethereum as part of a cryptocurrency portfolio. Due to the technology and investment potential, it’s no surprise that Ethereum is the second largest cryptocurrency platform with a market capitalization exceeding $52 billion.
Ethereum, which was $ 130 in early 2020, is trading at $ 600 levels towards the end of 2020, increasing its rapid rise by 460%.
3. Ripple (XRP)
Ripple differs from most of its cryptocurrency competitors. Ripple is an invention of Ripple Labs, and the Ripple token is used in high-speed and low-cost money transfers around the world.
Ripple Labs has announced a number of partnerships with leading money transfer services, and more financial market partnerships are expected in the future.
Unlike many cryptocurrencies that trade with hopes and dreams, Ripple is used in the real world today and shows signs of future adoption within the financial market community.
Ripple, which traded at $ 0.18 in early 2020, increased its steady rise by 350% and is trading at $ 0.63 towards the end of 2020.
4. Litecoin (LTC)
Now accepted as a payment method on Overstock.com, Litecoin may also have a bright future. Litecoin is currently trading at around $80 and continues to be actively traded despite showing signs of consolidation, and is consistently one of the top 10 cryptocurrencies when measured by market capitalization.
Litecoin has a faster transaction time than Bitcoin, which is largely associated with using a different type of algorithm to add transactions to the blockchain. Increased processing speed also increases scalability. The main selling point of Litecoin is its speed and usability; At 4 times faster than Bitcoin, Litecoin makes sending and receiving global payments as easy as pinging someone in an email. This feature is quite attractive not only for investors but also for traders. Litecoin’s transaction fees are lower compared to credit card companies’ charges and bank transfers.
Litecoin, which was $ 40 in early 2020, has increased its steady rise by 100% and is trading at $ 80 levels towards the end of 2020.
3. Chainlink(LINK)
Chainlink is a decentralized oracle system that validates real-world data used in blockchain-based smart contracts and bridges the gap between these smart contracts and their real-world off-chain applications.
Chainlink has had a very strong start to 2020 and throughout the year, it has partnered with companies in the cryptocurrency sector. However, due to the effects of the Coronavirus on global markets and the decline in the value of BTC, its price fell, but since then it has continued to rise steadily.
LINK, which was $1.8 in early 2020, is trading at $14 levels towards the end of 2020, increasing its steady rise by 676%.
