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In a remarkable turn of events, out of the hundreds of cryptocurrencies, 42 tokens have exceeded Bitcoin. Meme coins have had a huge influence on the market, a remarkable achievement. An intriguing pattern is brought to light by the data that Lookonchain has supplied. According to the findings of the investigation, 25 of the 42 cryptocurrencies that did better than Bitcoin are listed on Binance, one of the most prominent platforms for cryptocurrency exchanges.
42 coins outperformed $BTC this year, 25 of which are listed on #Binance, and 20 were listed on Binance last year or earlier, allowing users to trade and benefit from their growth.
— Lookonchain (@lookonchain) September 20, 2024
Among the unlisted coins, 4 are exchange tokens, while 10 are small-cap, low-volume assets that… pic.twitter.com/XFEcVVg8Rp
With the addition of five tokens in 2024, Binance now lists twenty previously listed tokens on the market. It is evident that new listing cryptocurrencies are very promising and have the potential to provide substantial market returns; $SWIF, for example, rose by 234% following the listing. More and more individuals are paying attention to and investing in lesser-known altcoins, as shown by Lookonchain's trend. This tendency also indicates a new paradigm shift in the crypto market. Despite Bitcoin's continued dominance, investors are adapting their strategies and levels of participation in response to meme coins and other niche cryptocurrencies.
The most noticeable element of this year's best performers is that most are meme coins, with 8 out of the top 10. Binance has increased its popularity by listing four joke currencies, increasing its exposure and trading volume. Meme currencies are often connected with social media trends and may be affected by influencers or celebrities, resulting in a quick increase in the coin's value. The remaining top-performing cryptos consist of exchange tokens and small-cap, low-volume assets that are not extensively traded.
Digging a little more, we find several tokens that were there the year before and had incredible returns. The coins that increased in percentage terms the most out of all of them were $ARKM (10,389%), followed by $PENDLE (752%), $FLOKI (701%), and $PEPE (496%). These tokens are a combination of meme coins and other cryptocurrencies that have caught the interest of investors seeking huge profits at great risk. The results of this year show that the cryptocurrency market is evolving and growing thanks to new meme coins and other digital tokens, which provide fresh chances for traders and investors hoping to benefit from the ever-evolving trends in the industry. Given how quickly the bitcoin industry changes, these patterns may dictate what happens in the future.
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