Title: Soaring Beyond Bitcoin: 3 Top Altcoins Surpassing a 125% Gain
Swing by, folks, because it's crystal clear that Bitcoin has seized the spotlight in the crypto market this year. With the arrival of new spot Bitcoin exchange-traded funds (ETFs) in January, it's hit record high after record high, currently trading at a smidge under $100,000. That's a whopping 125% increase since December 3.
Yet, you'd be surprised to learn that a bunch of cryptocurrencies are keeping pace - or even surpassing - the almighty Bitcoin. In fact, out of the top 20 cryptos, ranked by market cap, 12 of them are either neck and neck with Bitcoin or leaving it in the dust. Three standouts on my radar right now are XRP (XRP -0.27%), Dogecoin (DOGE -2.73%), and Sui (SUI -6.37%).
1. XRP
Speaking of cryptos on fire, there's none hotter than XRP. It's climbed an impressive 440% over the past 30 days and is just an arm's reach from breaking the $3 mark. It's not a small feat, given that Bitcoin currently sits at $100,000. This remarkable transformation happened in a flash, as XRP was trading at a paltry $0.50 just a month ago.
So, what's the secret sauce here? Part of it is the pro-crypto enthusiasm that's brewing in Washington, D.C., thanks to the incoming Trump administration. Everyone's betting that regulations that have derailed the XRP market for years will soon vanish, leaving the way clear for Ripple (the company behind the XRP token) to resume business as usual.
The icing on the cake? There's chatter that XRP might get a spot ETF next year. If that happens, watch out, as several investment firms, like WisdomTree, have filed papers for that very thing. And we know what happened when spot Bitcoin ETFs launched - a flood of cash flowed into the crypto market.
2. Dogecoin
Don't let the silly name fool you, Dogecoin is no joke. It might be a meme coin that's driven by hype and speculation, but it certainly knows how to compel attention. Over the past 30 days, Dogecoin has skyrocketed 180%, and for the year, it's up a mind-boggling 366%.
You can thank Elon Musk for that. Ever since he pitched the creation of a Department of Government Efficiency (DOGE), Dogecoin has been unstoppable.
Any good vibes for DOGE (the hypothetical government agency) suddenly translate into positive momentum for the crypto. For example, when Bernie Sanders, the Vermont independent, expressed support for DOGE's efforts to cut back on wasteful spending, Dogecoin's price shot up nearly 10%.
Keep in mind, the name "DOGE" isn't an accident, but there's no official link between Dogecoin and the DOGE government agency. Musk's always been a Dogecoin fan, but he hasn't laid out any master plan for incorporating Dogecoin into the DOGE government agency. So, invest at your own risk.
3. Sui
Last but not least, let's talk about Sui. It's a Layer 1 blockchain network, just like Ethereum and Solana, that officially launched back in May 2023. What makes it stand out are its lightning-fast transaction processing speeds.
Previously, Solana held the title of the world's speediest blockchain, but Sui has now grabbed the crown. That's why it's often referred to as "the new Solana."
For the year, Sui has soared, clocking in an impressive 371% gain, outsizing even the mighty XRP (which gained 340%). It's thanks to the surge of Sui projects in 2023 that it's attracting such attention from investors.
As long as Sui manages to steal some market share from Solana and Ethereum, it should keep drawing in the interest. Given that it's only 1/40 the size of Ethereum in terms of market cap, the upside could be colossal if Sui's success story sticks around.
So, what's next in 2025? Keep an eye out for the planned rollout of a Sui-based handheld gaming console. That's because blockchain gaming has the potential to bring new users to the Sui blockchain, fuelling mainstream adoption.
According to Sui, the gaming experience will be smooth, seamless, and easy for newbies to join, no cryptocurrency know-how required. If the goal is to bring in the masses, that's a major plus.
- For those interested in diversifying their investment portfolio, considering Sui could be a wise decision. With its lightning-fast transaction speeds and impressive 371% gain this year, Sui has the potential to challenge Ethereum and Solana in the market.
- In the world of finance, investing in cryptocurrencies like Dogecoin can also yield significant returns. Since January 2023, Dogecoin has surged 366%, largely due to the hype and speculation surrounding it, but also with the support of influential figures like Elon Musk.
