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Current market data indicates that bitcoin has increased by 48% against the U.S. dollar since Jan. 1, 2024. This implies that on that date, one tether (USDT) was exchanged for 0.00002368 BTC, whereas today, it’s valued at just 0.00001596 BTC. Concurrently, in addition to bitcoin’s rise against the dollar, its competitors like ETH, SOL, and BNB have also seen gains. This analysis reviews the top 10 crypto’s recorded gains and losses throughout 2024, focusing on the value measured in bitcoin.
Priced Against Bitcoin: How the Top Cryptos Fared
Bitcoin currently holds a dominant position in the crypto market, accounting for roughly 53% of its value, while its competitor, ethereum (ETH), captures 17.5% of the market share. According to the latest year-to-date data, ETH has decreased by 1.08% against BTC. Over the past six months, ETH has fallen by just over 10% against BTC.
As previously mentioned, because USDT is backed by the U.S. dollar, the third-largest crypto asset has also depreciated by approximately 48% since Jan. 1. BNB, the fourth-largest crypto by market cap, has had a different trajectory. Year-to-date, BNB has increased by 23% against bitcoin (BTC).
Solana (SOL) has seen a modest rise of 0.92% since Jan. 1 and is up 7% against BTC over the past six months. XRP has not fared well against BTC in 2024, losing 40% against the leading crypto asset. In the past six months, XRP has dropped 35% against BTC. On Jan. 1, XRP was valued at 0.00001443 BTC per coin, but today it’s 0.00000865 BTC.
TON, the coin with the eighth-largest market cap, has experienced a 116% increase against BTC so far this year. On Jan. 1, a single TON was 0.00005424 BTC, and today it is 0.0001185 BTC.
The ninth-largest coin, dogecoin (DOGE), has declined by 11% against BTC year-to-date, while the tenth-top coin, ADA, has suffered a 50% loss. On the first day of the year, ADA was trading at 0.00001403 BTC, and it has now decreased to 0.00000701 BTC, a percentage loss greater than that of the U.S. dollar. The eleventh-largest market cap, tron (TRX), is down 13%, and lastly, avalanche (AVAX) has fallen by 52%.
What do you think about the ten leading crypto competitors and their prices against bitcoin since Jan. 1, 2024? Share your thoughts and opinions about this subject in the comments section below.