If we asked you what the best performing blockchain coin was, you would probably say that it was the Bitcoin. Naturally, the largest coin in the market has been enjoying a nice little surge this year but it has not been the best performing blockchain coin.
A Good Year for The Crypto Market
This year has been a good year for the crypto currencies. The market has regained some of its luster with the market cap recovering. The market capitalization for the entire market rose from $127 billion at the start of the year and has since grown to close to $290 billion in today’s trading.
The interest in crypto currencies is also evident in the growing trading volume among the market players. There was a massive increase in trading volume. It moved from $13 billion trading volume and ballooned to $52 billion in trading volume for recent trading.
The Bitcoin Dominates
The domination of the Bitcoin in the Bitcoin is unquestionable, and it could be considered one of the best performing blockchain coins in the world. If you consider the effect it has on the entire market, this is one of the most influential. In fact, it holds over 54% of the entire market. It has a market value of over $160 billion and it has risen 140% in this year alone. However, it is not the best performing blockchain out there.
The Best Performing Blockchain is the Litecoin
The best performing among all blockchain coin is the Litecoin with a rise of 340% this year. Rising at more than twice the rate of the Bitcoin during the same period. The wider acceptance of the crypto currency in general helped improve the standing of the Litecoin. Established companies like Facebook, Fidelity, and AT&T.
More importantly, investors are eagerly preparing for the “halvening” where miner will be awarded half the amount after the event. Due to a simple supply and demand relationship, the halving for miners have resulted in a surge in prices.