The year 2024 is drawing to a close, and it has been an eventful period for the crypto industry. Over the past year, many coins and tokens have made a significant impact, attracting the attention of crypto enthusiasts from around the globe.
In this review, the itez team has compiled a list of the top 5 cryptocurrencies that stood out the most for investors and traders in 2024. As we prepare to welcome the new year, let’s take a moment to reflect on what made 2024 so memorable.
Bitcoin (BTC)
Bitcoin is the first and most capitalised cryptocurrency on the market. Often compared to digital gold, even those unfamiliar with the world of crypto usually know a little about BTC, its purpose, and its value.
This past year has been an exceptionally dynamic and memorable one for the coin. Bitcoin entered January 2024 trading around the $40,000 mark. For most of the year, it remained within the $60,000 to $70,000 range, exhibiting moderate volatility and price fluctuations. However, in a historic milestone on 5 December, BTC broke through the psychologically significant $100,000 level for the first time ever, marking an annual growth of approximately 150%.
BTC price movements over the past year. Source: CoinGecko
At the time of writing, the cryptocurrency's market capitalisation is nearly $2.1 trillion, with close to 20 million coins in circulation out of Bitcoin’s total supply of 21 million.
Ripple (XRP)
XRP is the native token of the fintech startup Ripple Labs. It can confidently be called one of the “veterans” of the cryptocurrency market, launched back in June 2012. Over the years, altcoin hit an all-time high of $3.84 in 2018.
The year 2024 has brought significant developments to Ripple’s long-standing history. For instance, on 17 December, the company introduced its own stablecoin, RLUSD, to the market. This news was met with a highly positive reaction from XRP, sparking a fresh bullish rally.
XRP price movements over the past year. Source: CoinGecko
As shown in the chart above, the token began the year trading at modest levels around $0.60. By December, XRP had surged to a peak of $2.70, representing an impressive annual growth of 350%. This remarkable performance has elevated the cryptocurrency to third place in the overall market capitalization rankings, trailing only the two undisputed market leaders — Bitcoin and Ethereum.
Solana (SOL)
Solana is another promising blockchain and altcoin that has shown impressive results in 2024. The cryptocurrency network was launched in 2020, making Solana a relatively young crypto project.
In the second half of December, the number of daily transactions on the network reached an all-time high. The record for the blockchain was set at 66.9 million transactions. In terms of daily transfers, the blockchain surpassed the combined total of other leading networks, including Ethereum, Base, and Tron.
Number of daily transactions on the Solana network over time. Source: Artemis
The SOL token started the year at around $100. However, at its peak in 2024, the altcoin reached a price of $257. As of the time of writing, the price has corrected to approximately $200.
SOL price movements over the past year. Source: CoinGecko
Taking the correction into account, the cryptocurrency has grown by 179% over the year. This impressive growth demonstrates the long-term value of this young crypto project, the value of which is supported by the continuous development of its ecosystem and sustained market interest in SOL. Thanks to the community's support, this altcoin occupies an honourable sixth place in the overall cryptocurrency market ranking by market capitalization.
Toncoin (TON)
Throughout 2024, Toncoin remained a focal point for investors. It is the native token of The Open Network (TON), a robust cryptocurrency platform designed for fast, secure transactions without intermediaries. Its popularity and resilience have been further bolstered by the active support of the widely-used Telegram messenger.
Although relatively young, having entered the market in late 2021, Toncoin reached the height of its popularity in 2024. This year saw a surge in the popularity of tap-to-earn games, particularly those integrated within Telegram. Leading this segment were Notcoin, Blum, and the viral sensation Hamster Kombat, which captivated over 50 million players globally.
Toncoin price movements over the past year. Source: CoinGecko
As seen in the chart above, TON began 2024 at relatively modest levels, trading at approximately $2 in January. Its peak price for the year was an impressive $8.17. By the end of December, Toncoin had corrected from its all-time high (ATH) and is now trading around $6.
Investors who purchased the token at the start of the year reaped extraordinary gains. At its peak, profits exceeded 300%. Even with the correction, returns remain significant at around 200%.
Peanut the Squirrel (PNUT)
PNUT is a meme coin created in memory of a squirrel named Peanut, who was recently put to sleep in the United States. The event sparked widespread public outrage, with prominent figures such as Elon Musk voicing criticism of the authorities’ actions.
Riding on a wave of hype, this token — launched as recently as November — has been breaking records daily. The token debuted at a level of around $0.50, and, in a matter of days, surged to an astonishing peak of $1.81. Since then, it has seen a notable correction and, as of this writing, is trading at $0.98.
PNUT price movements since its launch. Source: CoinGecko
The token’s peak growth exceeded 260%. Even with the current correction, PNUT still delivered impressive returns of around 80% for early investors — an admirable performance.
Meanwhile, in the overall ranking of meme coins, Peanut the Squirrel proudly holds the tenth position, surpassing notable names like Notcoin (NOT), Neiro (NEIRO), and BOOK OF MEME (BOME). This achievement was driven by a market capitalization exceeding $980 million.
This story underscores the immense potential of even the youngest coins when launched under the right circumstances.
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This article is not investment advice or a recommendation to purchase any specific product or service. The financial transactions mentioned in the article are not a guide to action. It’s not intended to constitute a comprehensive statement of all possible risks. You should independently conduct an analysis on the basis of which it will be possible to draw conclusions and make decisions about making any operations with cryptocurrency.
