There are more than 2,000 digital currencies and tokens today, all of whom have different fundamentals and technical designs. While the most recognized of these coins include Bitcoin (BTC), Ethereum (ETH), XRP, Litecoin (LTC), Bitcoin Cash (BCH), and Chainlink (LINK) amongst others, there are others including Ampleforth (AMPL) that comes off as a silent performer.
The year 2020 has been marked by a remarkable surge for most cryptocurrency assets in what turned out to be the best year yet for many digital currencies including Bitcoin as it recorded its highest price level of all-time above $24k. The embrace of Bitcoin as a hedge fund, as well as the perfect substitute for the devaluing US Dollar has significantly contributed to its growth and this growth has rubbed off on the other tokens with notable gains experienced across the board.
In terms of the percentage growth, Bitcoin (BTC) has surged by 225.1% year to date, according to CoinGecko. Whereas Ethereum, the second-largest cryptocurrency by market capitalization, has recorded a massive gain of 381.3% on a year to date basis with XRP boasting of 149.3% growth this year.
While these top cryptocurrencies appear to have a strong buyer’s interest, the recorded growth of the Ampleforth token (AMPL) dwarfs all the gains reported by the top three cryptocurrencies as it has gained an unbelievable 15,333.3% this year alone.
It should be noted that each of these digital currencies has its underlying business fundamentals which center around payment and cash transfers for the featured top three coins while the AMPL serves as a base currency that is designed as the backup for the new decentralized economy or finance.
The gains recorded across all the asset classes are already enough to push these coins to a profitable record ending for the year. But the market is currently shifting from its bullish state of consolidation to that in which the bears are unrelenting in taking profits, thus potentially stirring a temporary dip in price.
Except Bitcoin and Ethereum, XRP and AMPL have been experiencing this massive bear action, strong enough to erode into the strong gains recorded in the past year and weeks. However, of these coins, AMPL has remarkably shown that the top cryptocurrency assets been regarded in the space can be beaten when it comes to annual growth, while the AMPL enjoys low publicity, for now, it is arguably one of the best performing coins of the year in terms of the percentage gains.