In a sample of over 150 top altcoins, only 4% had a positive BTC return over the past year. Other than BNB, none of this 4% were even in the top 100 alts a year ago.
Bitcoin Has Been Hard To Beat
In the sample of 167 leading altcoins chosen by crypto analyst Ceteris Paribus, only 6 performed better than Bitcoin over the past 12 months. The combined BTC market cap of all 167 has dropped by a whopping 69%, from ₿23.4 million to ₿7.2 million.
Perhaps more surprisingly, Binance Coin aside, the top performers didn’t even register in the top 100 cryptocurrencies by market cap a year ago.
Another similarity is that all of these coins see the majority of their volume traded on the Binance exchange, showing the importance of liquidity.
So who were the past year’s big winners?…
1. Chainlink (LINK)
If you really wanted to maximise your returns this year you had to be holding Chainlink. Chainlink is a decentralised oracle service to connect smart contracts to data from the outside world. Smart contracts cannot access data outside of their blockchain, so oracles act as a data feed to trigger them from external events (e.g. temperature).
But who cares about all that, when LINK token is up 637% in BTC terms over the past year. A year in which bitcoin itself saw an overall 50% gain. However it should be noted that Chainlink is also suffering during bitcoin’s current price correction.
2. Holochain (HOT)
Holochain is a decentralised applications (DApp) platform, using peer-to-peer networking to reduce unnecessary synchronisation and increase DApp scalability.
It listed on Binance almost a year ago,