Investors struck it rich in 2017 throwing money at any and every new altcoin on the market. After 2018, these bulls have been chomping at the bit for the next ‘altcoin season.’
As it appears, that season may have already begun. Eight coins and tokens have gained more than 100 percent from their previous lows in 2018, while ten others have gained more than 24 percent.
Ravencoin (RVN) leads the rally, up 387 percent since the end of 2018. RVN was created as a Bitcoin fork and allows users to create and issue security token on its blockchain. It set a previous all-time high of $0.063 in October 2018 and has already surpassed this number last month of this year, setting a new high of $0.08.
Enjin Coin (ENJ) follows behind at a close second, up 382 percent in 2019. ENJ is a digital currency to be used on Enjin’s virtual goods marketplace for online games.
The project got some good press earlier this year when it was rumored that the new Samsung Galaxy S10 smartphones would have an integrated ENJ wallet. While the S10 does support an ENJ wallet, it doesn’t actually come installed on the phone. This news played a major part in the massive gains it has made this year.
Binance Coin (BNB) is the highest ranking of the top-three coins mentioned. At the time of writing BNB is ranked seventh overall with a market cap of nearly $3.5 billion.
The token is used on the Binance cryptocurrency exchange to reduce fees on transactions. As Binance gains more users and tradeable assets, BNB will continue to go up in value. BNB is the first major altcoin to return to its previous all-time high of $24.70 set in January 2018. Over this past weekend, BNB broke past this previous high topping out at $26 before pulling back slightly and currently trading at $24.82.
LTC is up nearly 175 percent since 2018, most likely due to its upcoming reward halving which is due in August of this year.
BCH, on the other hand, has been recovering from the hash wars that took place in November of last year. During this time BCH lost nearly 90 percent in just a month, dropping from $620 to $75. In 2019, BCH has gained back 111 percent, and is currently trading around $280 — still a far cry from its all-time high of $4000.
Which altcoin do you think we be the top gainer in 2019? How many will return back to their previous all-time highs? Let us know your thoughts in the comments below.