In the ever-changing world of cryptocurrencies, Bonk (BONK) was the best performer in 2023. Bonk rose 7,302.9% from $0.0000002 on January 1 to $0.0000146 on December 28, 2023. Bonk’s rapid growth made it the top cryptocurrency and attracted traders and investors.
Injective (INJ) Surges 2,976.4% to Secure Second Spot Among Crypto Gainers
Injective (INJ) rose 2,976.4% from $1.27 to $39.07, ranking second among cryptocurrency gainers. Helix, Injective’s DEX, implemented pre-launch token futures, which helped it soar. Injective also launched a $150 million ecosystem fund to accelerate interoperable infrastructure and decentralized financing adoption.
From $0.00014 to $0.00282, CorgiAI (CORGIAI) rose 1,959.7% to third place on the list of cryptocurrencies with the biggest gains. CorgiAI is the main meme coin on the Cronos blockchain, as each blockchain has its meme coin.’ The 10 most valuable cryptocurrencies rose 632.8% to 7,302.9%. These gains beat Bitcoin and Ethereum by at least 3.9 times for early investors.
Popular cryptocurrency themes and stories influenced the top 10 cryptocurrencies that gained the most value in 2023. The stories included meme currencies, layer 1 protocols, AI, and layer 2 solutions. Bonk, the main beneficiary, navigated several narratives during the year, profiting from meme currencies’ popularity and helping the Solana ecosystem recover.
Some cryptocurrencies had big gains, but not all. Interestingly, eight top 100 cryptocurrencies lost money before 2023. Tether, USDC, Dai, BUSD, TrueUSD, Toncoin, Chiliz, and Sui are stablecoins in the group.
Five stablecoins dropped below $1.00, resulting in 0.3% price declines. TON, CHZ, and SUI were the only cryptocurrencies to decline 0.6% to 40.6%, while stablecoins did not. From May 3 to December 28, 2023, Sui fluctuated in price, peaking at $1.40 before falling to $0.83.
Bitcoin (BTC) Surges 162.5% in 2023
Over 2023, Bitcoin (BTC) rose 162.5% from $16,540 to $43,418, surpassing 65 tokens in the top 100 cryptocurrencies. Major firms like BlackRock and Fidelity have applied for spot exchange-traded funds (ETFs), which have raised Bitcoin interest.
Bitcoin was 1.7 times more profitable than Ethereum in 2023, returning 162.5% versus 98.6%. Bitcoin outperformed 18 of the top 100 layer 1 protocols but underperformed 11. Four of those 11 made top-10 crypto profits.
Investors in INJ, KAS, SOL, and CFX have made at least 4.8 times more than Bitcoin and Ethereum at the start of the year. Smaller layer 1 protocols compete with Bitcoin and Ethereum for market supremacy, therefore investors should be aware of their higher risk. However. BONK is the clear winner of 2023.
