FX.co ★ Altcoins outperform BTC

According to analysts at Lookonchain, the first cryptocurrency remains the largest digital asset in the world, attracting both retail and institutional investors. However, this harmony is being disrupted by the rising value of several altcoins. Lookonchain estimates that in 2024, Bitcoin's return on investment (ROI) is lagging behind 42 tokens. Among them are Popcat, Mantra, and Mog Coin, which showed a considerable rise compared to Bitcoin in September.

For example, Popcat has skyrocketed by 7,550% since the start of 2024, following a massive price jump after Binance announced its listing in August.

The Mantra project, which is set to launch its mainnet in October, saw its native token OM rise by 1,550% since the beginning of the year. As for the altcoin MOG, it surged by 2,200% this year, and MAGA went up by 1,129%.

For comparison, in January 2024, Bitcoin increased by 43%. Yet, of the 42 tokens outperforming Bitcoin in terms of ROI, 10 turned out to be meme coins, four of which are traded on Binance. Notably, after the listing of the joke token Dogwifhat on this exchange, its price soared by more than 230%. Since the start of the year, the meme coin has gained 976%. Other meme tokens outpacing Bitcoin in returns include ARKM, PENDLE, FLOKI, and PEPE.