Bitcoin’s performance turned a corner in April 2019. However, there were other cryptocurrencies that have been surging through the bear market, including Binance coin and Litecoin.
Binance coin has been one such noteworthy crypto, recording massive surges while disregarding bearish pressure in 2018. BNB reached its bottom on December 14, 2018, following which it was nothing but smooth sailing for Binance’s native token.
BNB reached a new all-time high on May 26, 2019, when the price of 1 BNB hit $38. The total surge from the bottom to this point was a massive increase of 771%, achieved in a matter of just 170 days. However, the year-to-date return on Binance coin was 504%, which is relatively lower than its all-time high.
Additionally, BNB’s YTD price surge is the highest surge seen across the top 10 cryptocurrencies. It has easily outperformed the cryptocurrency that started it all, Bitcoin. The table attached below shows the performance of the top 10 altcoins, including Bitcoin.
Price data obtained Binance, Bitstamp, Coinbase, and Huobi exchanges
As seen above, Bitcoin’s YTD price surge is only 198%, and it is the 5th best performing asset among the mentioned cryptocurrencies. It can be clearly seen that Binance coin has the best stats, both with respect to YTD and ATH. Over the course of 2019, BNB’s price has surged by a massive 504%. The next best performing asset is Litecoin, which has surged by 374% since the start of 2019.
The main reason for BNB’s splendid performance could be due to a combination of three reasons, the migration of Binance coin from Ethereum blockchain to its own blockchain, the subsequent launch of Binance DEX, and the Binance IEO, which brought back the ICO trend,