Over the past year, bitcoin surged by 153%, with numerous other digital currencies also seeing substantial increases. Yet, assessing the top cryptocurrencies in relation to bitcoin’s performance, the annual shifts present a distinctly varied perspective.
2023 Sees Altcoins Lag Behind Bitcoin’s Rally Despite Overall Market Boom
The landscape of top cryptocurrencies has evolved significantly since December 2022, with the overall market value of the crypto economy soaring from $811 billion to $1.68 trillion, marking an impressive increase of over $909 billion. During this period, while ethereum has witnessed a 95% surge this year, its value compared to BTC has diminished. Specifically, ETH decreased from 0.07237 BTC to 0.05432 BTC, translating to a loss exceeding 24% against bitcoin, the premier cryptocurrency by market capitalization.
Ethereum wasn’t the only digital currency to experience a decline relative to BTC. Binance coin (BNB) also saw a substantial reduction, falling from
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