See Which Altcoins Outperformed Bitcoin (BTC) in 2019
As Bitcoin (BTC) established a solid dominance over the market, only a handful of altcoins managed to raise their heads.
Bitcoin (BTC) started the year just above $3,700 and in August, after a volatile second quarter, climbed to around $11,300. The roughly 300% growth turned out to be unique for 2019. While in years past altcoins managed to lock in stunning rallies, vastly outperforming BTC, in 2019, altcoin markets unraveled.
But there are a few exceptions to this trend, with altcoins that either rose on speculation or had special features that differentiated them from the pack.
Binance Coin (BNB) was one of the strongest climbers in 2019, starting low and growing as the Binance Exchange expanded its services and influence. BNB currently hovers around $30, having grown by between 400 and 500%. BNB has also gained ground against BTC, locking in gains from 16,000 Satoshi to above 26,000 Satoshi.
BNB gets a boost from Binance’s vast stash of Tether (USDT), which works to add liquidity. BNB is also in-demand as token sales on exchanges (IEOs) picked up. BNB is the tool to gain access to the special selection of tokens on Binance.
Litecoin (LTC) was a borderline case. At one point, the asset moved up against BTC, and slightly outperformed the leading coin. LTC is still up nearly 300% in 2019, closely competing with BTC, due to the halving achieved on August 5. But the event, in which miners saw the block reward slashed to 12.5 LTC, is now discounted by the markets, and LTC looks shakier.
Chainlink (LINK) was also one of the strongest performers, and despite the setbacks, has achieved a net gain from $0.29 at the beginning of 2019, to around $2.33 in August. At peak prices, the asset managed 500% growth in BTC terms, and more than tenfold growth in dollar terms.
The altcoin market in 2019 showed a trend of growth for new arrivals, as older altcoins hovered or kept posting new yearly lows. Altcoins are also much slower to recover and get closer to their all-time highs. Some assets have shown little hope of recovery, including TRON (TRX) and Ripple’s XRP, as well as IOTA (MIOTA), previously top gainers, which have now lost the spotlight.
With the BTC market dominance above 68.8%, expectations of a “super moon”, where both BTC and altcoins appreciate, have dissipated.