Solana and Avalanche take the throne in 2023 with price growth reaching 620% and 290% respectively

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Solana and Avalanche take the throne in 2023 with price growth reaching 620% and 290% respectively

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In this edition:

  • 2023 Winners: Solana and Avalanche with YTD Price Growth of 620% and 290%, respectively
  • Waterfall Network announces new testnet 8
  • Gox double-pays creditor via PayPal and requests refund

2023 Winners: Solana and Avalanche claim the throne with 620% and 290% year-to-date price growth

AltIndex looked at the best performers among the top 10 cryptocurrencies by market capitalization from the beginning of 2023 to December 21 and found that Solana (SOL) was the biggest winner among the top 10. Its price has surged 620% in this time frame. Avalanche (AVAX) ranks second with 290% growth.

In January, the price of SOL was $12.12. By December 21, it rose to $87.3. This 620% increase “suggests that Solana’s price growth is four times greater than that of Bitcoin, the world’s largest cryptocurrency.”

However, the cryptocurrency market changes rapidly. In less than a week of writing, SOL price has risen to $113, a 910% increase over the past 12 months.
As a result of this growth, Solana's market capitalization increased by more than $32 billion, rising from $4.3 billion in January to nearly $37 billion on December 21. It continues to climb. At the time of writing, the market cap has reached $48.46 billion.

Avalanche is the second-largest cryptocurrency to gain the most in 2023. The price of the AVAX token surged 290%, from $11.7 in January to $45.7 on December 21. Since then, the price has declined slightly to $44. However, AVAX has recorded 276% growth over the past 12 months.

AVAX's market capitalization has increased by $13 billion since the beginning of the year and currently stands at $16 billion.

Bitcoin (BTC) has risen from around $17,400 in January to $42,730 today. Its current market capitalization is US$836.28 billion.

“After being at the center of the cryptocurrency’s price collapse, losing millions of active addresses and billions of dollars in market capitalization, BTC has attracted the attention of many mainstream investors this year, helping it double in value,” AltIndex explains.

Cardano (ADA) and Ethereum (ETH) round out the top five with price growth of 140% and 85% respectively. As of December 21, ADA has gained 129% in the past 12 months to reach the current price of $0.6, while ETH has gained 85% to reach $2,247.

These five top-performing cryptocurrencies account for the majority of the market capitalization: 72% of the market capitalization, to be precise, with BTC taking the lion’s share of this pie chart.

Jamie Ding

Jamie Ding

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