The cryptocurrency landscape in 2023 shows a recovery from the previous year, with significant gains and losses among the top 100 cryptocurrencies. An analysis based on CoinMarketCap data reveals which digital assets have provided the highest returns over the past year, with a separate focus on those that have more than doubled in value and those that have incurred losses.
Leading the gains is the meme coin BONK, which surged by 17,176%, turning a $1 investment into approximately $172. The enthusiasm within the crypto community for meme coins has played a crucial role in BONK’s rise, further accelerated by listings on major exchanges like Binance. BONK’s performance also aligns with the growth of the Solana network, where it resides.
Other notable gainers include INJ, with a 3,082% increase, and PEPE, which provided a 2,400% return. These altcoins have experienced significant growth, with INJ multiplying by 30 times and PEPE by 24 times in 2023. The excitement around PEPE, particularly during April and May, led to substantial profits for investors.
The list continues with KAS, which saw a 19-fold increase, SOL with a 1,011% rise, WEMIX at 798%, CFX at 741%, FET at 690%, and TIA at 591%. After highlighting the top 10, the report also examines other cryptocurrencies that have more than doubled in value.
Beyond the top ten, altcoins like STX, IMX, RUNE, and AVAX have also impressed with their price increases, with STX recording a 515% gain, IMX 459%, RUNE 355%, and AVAX 315%, placing them prominently among the top performers.
However, not all cryptocurrencies fared well in 2023. BLUR and ARB, for instance, caused a 90% loss to their investors. Other notable losers include SUI, GALA, APE, LUNA, CHZ, CAKE, and TON. It’s important to note that the analysis is based on the year’s start rather than individual investment entry points, which can lead to different outcomes for investors.