While Bitcoin has rallied impressively in 2023, other cryptocurrencies have grown, in terms of value, at a faster pace, outperforming the market-leading cryptocurrency.
This year has been exceptional for the cryptocurrency sector, which has a total market value of more than $1,67 trillion dollars, according to data available on the CoinMarketCap platform.
Cryptocurrency market capitalization has returned to levels seen in May of last year, before the collapse of the Terra blockchain ecosystem. The crypto sector has managed to recover substantially from this collapse and other events that aggravated the 2022 bear market.
According to data available on the CoinMarketCap platform, the main cryptocurrencies on the market have managed to rebound by up to 2900% in 2023.
At present, Injective (INJ), Solana (SOL) and Immutable (IMX) are the cryptocurrencies that register the greatest growth among the 20 most capitalized cryptocurrencies on the market. They are followed by Avalanche (AVAX), Optimism (OP), Near Protocol (NEAR), Aptos (APT), Chainlink (LINK), Bitcoin (BTC) and Internet Computer (ICP), which have managed to rebound between 149% and 291% in the last 12 months.
INJ, SOL, IMX and more
Among the cryptocurrencies that grew the most in 2023 are INJ, SOL and IMX, while BTC, which saw a recovery of more than 153% in 2023, appears as the penultimate cryptocurrency with the greatest growth in value in this ranking.
Injectable (INJ)
The price of NJI reached $44,61 dollars On December 24th, establishing a new all-time high in the crypto market.
According to the data, the AI Finance Network’s native cryptocurrency, INJ, has grown by over 2940% over the past 12 months, driven primarily by the growing interest in crypto derivatives, optimism about their future development, and sustained market growth, motivated by confidence in the potential approval of a spot ETF in the US market.
Source: CoinMarketCap
Left (LEFT)
SOL is the second fastest-growing cryptocurrency this year, gaining nearly 900% at the time of writing.
The price of SOL has risen to $112 per unit, setting a new 20-month high. Its astonishing rise has been driven by the growing investment of large investors in the cryptocurrency, as well as the impressive demand for its meme cryptocurrencies, such as BONK, which has increased by more than 16.000% this 2023, ranking as the 67th most capitalized cryptocurrency, currently.
Source: CoinMarketCap
Immutable (IMX)
The third fastest-growing cryptocurrency in this ranking is IMX, the native token of Ethereum’s NFT- and Web3 gaming-focused scaling solution, Immutable.
IMX has experienced a growth of 442% over the past 12 months, driven by its growing involvement in the gaming industry, Immutable’s developers have established new partnerships with major high-profile gaming companies to begin development of several Web3 games.
Source: CoinMarketCap
Avalanches (AVAX)
The price of Avalanche (AVAX) has had a growth of almost 300% over the past 12 months. The scalable blockchain cryptocurrency has seen a significant increase in trading volume and overall network usage.
Source: CoinMarketCap
Optimism (OP)
Optimism has also had notable growth in the cryptocurrency sector this 2023, registering an annual increase in its price of more than 250%, at the time of going to press.
OP, the native token of Optimism, which was launched in the middle of last year, is one of the assets that has shown the most potential for innovation this 2023 in the cryptocurrency sector. In October, its developers presented a new fail-safe system, based on zero-knowledge (ZK) technology, to improve network security. This is part of its plans to become completely decentralized.
Source: CoinMarketCap
Near Protocol (NEAR)
NEAR reaches a price of $4,24 per unit, after rising more than 215% in 2023.
The bullish movement that the layer-1 network cryptocurrency for DApps and cloud computing services has been experiencing since mid-October is motivated by trading activity, which underlines the interest and confidence of investors and the community in general. Likewise, the plans outlined by its team of developers in its roadmap for 2024 are also driving its growth.
On top of all this, Near has partnered with several of the most prominent projects in the crypto industry, such as Polygon and layer zero, to accelerate innovation and recently welcomed blockchain registrations.
Source: CoinMarketCap
Apts (APT)
APT is very close to trading above $10 dollars per unit, after registering a 177% growth in the last 12 months. At the time of writing this article, the price of APT is $9,95 per unit.
While Aptos is trading well below the all-time high it set in January, its price has been growing steadily since mid-October, making it one of the most promising altcoins in the sector, according to several analysts.
Source: CoinMarketCap
Chainlink (LINK)
The growth that Chainlink (LINK) has achieved this 2023 exceeds 154%, according to data available on CoinMarketCap.
The integration of the Chainlink blockchain oracle network with projects from the crypto world, such as Polygon zkEVM, zkSync Era and Arbitrum, and with other institutions from the traditional world, such as Vodafone, PwC and SWIFT, have been driving its innovation, growth and expansion, as well as the increase in value that the LINK token has experienced in the market.
Source: CoinMarketCap
Bitcoin (BTC)
Bitcoin, which leads the cryptocurrency sector as the largest asset by market cap, is the second-to-last fastest-growing cryptocurrency in this ranking. According to CoinMarketCap data, Bitcoin has grown by 150% this year, trading at around $42.200 per BTC.
As reported by this outlet, Bitcoin has been growing exponentially, driven by the confidence of investors and the crypto community in the possible approval of a spot ETF in early January. According to analysts, the United States Securities and Exchange Commission (SEC) has given several signals that is set to approve a Bitcoin cash ETF next monthAnalysts also expect the SEC to authorize the listing of multiple Bitcoin ETFs, so as not to give a competitive advantage to any particular asset manager.
Source: CoinMarketCap
Internet computer (ICP)
The price of ICP ha increased by more than 140% over the past 12 months. The cryptocurrency, which is approaching the Top 20, began to grow steadily in mid-October. However, its growth has been more noticeable in the past two weeks, after rising 50% since December 12.
A strategic partnership between Internet Computer, Gaudi Knowledge Association and Moon Labs, as well as the Launch of a European subnet ICP, for the development of decentralized applications in the European market, on December 18, are behind the impressive price increase that the cryptocurrency of the Internet Computer network has experienced this year.
Source: CoinMarketCap
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