This analysis examines the price performance of the top 150 cryptocurrencies by market capitalization listed on CoinGecko as of December 25, 2024. By comparing price changes from January 1, 2024, or the earliest available data point, we provide a comprehensive overview of investment returns within the digital asset market for the year. To ensure data accuracy and relevance, stablecoins, wrapped tokens, pegged assets, staking assets, and restaking assets were excluded from this study.
Which Cryptocurrencies Surged the Most in 2024?
Virtuals Protocol (VIRTUAL) emerged as the best-performing major cryptocurrency of 2024 with an astonishing gain of 23,079.2%. Starting the year at $0.01311, $VIRTUAL mostly traded below $0.20 before experiencing a dramatic surge in the fourth quarter, reaching a high of $3.04 by December 25. This impressive rally was fueled by the viral success of the Virtuals Protocol's AI agent platform, attracting significant attention from investors seeking exposure to both artificial intelligence and meme coin trends.
From an investment perspective, a $100 investment in $VIRTUAL on January 1 would have grown to approximately $23,179 by Christmas.
Following closely was Brett (BRETT), which achieved a remarkable 14,784.6% gain since its launch on February 29 at $0.0009766, reaching $0.145 by December 25—despite pulling back from its all-time high of $0.234 established on December 1. Brett's exceptional performance made it the first meme coin on the Base blockchain to achieve a $1 billion market capitalization.
Ranking third was another meme coin project, Popcat (POPCAT), which saw its price increase from $0.007640 on January 1 to $0.8067 by December 25, representing a gain of 10,459.0%. Although Popcat launched late last year and became one of the leading meme coins within the Solana ecosystem, its price didn't begin breaking new highs until March of this year. On September 27, Popcat became the first cat-themed meme coin to surpass a $1 billion market capitalization, maintaining this level for several months before experiencing some correction.
Notably, seven of the top ten performing cryptocurrencies in 2024 were meme coins. Beyond Brett and Popcat, other standout meme performers included:
- Mog Coin (MOG), another cat-themed token, which gained 6,051.0%
- Turbo (TURBO), an AI-generated frog meme coin, which rose 3,036.0%
- Fartcoin and ai16z, recently launched Pump.fun projects, which gained 2,890.5% and 1,409.9% respectively
- Pepe (PEPE), which increased by 1,400.6%, surpassing its performance during the mid-2023 meme coin frenzy and cementing its status as a major meme coin
Beyond Meme Coins: $OM and $AERO Deliver Strong Returns
Despite the dominance of meme coins, $OM and $AERO also delivered impressive returns. MANTRA (OM) ranked fourth with a yearly gain of 6,418.3%, rising from $0.0584 on January 1 to $3.81 by December 25. This performance made it the best-performing real-world asset (RWA) investment project of the year, delivering returns approximately nine times higher than the second-best RWA project, Ondo Finance (ONDO).
Meanwhile, Aerodrome Finance (AERO), a decentralized exchange on the Base blockchain, ranked sixth with a yearly gain of 3,139.4%. Its price increased from $0.0511 on January 1 to $1.66 by December 25, benefiting from increased on-chain transaction volume driven by meme coin activity and growing interest in the Base ecosystem.
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Bitcoin Shows Steady Growth While Ethereum Underperforms
Bitcoin (BTC) recorded a solid gain of 133.8% in 2024, steadily climbing from $42,208 on January 1 to $98,696 by December 25—roughly comparable to its 162.5% gain in 2023. Among the 123 large-cap cryptocurrency assets analyzed, Bitcoin ranked 39th, outperforming 84 other digital assets. This means that, similar to last year, randomly selecting a cryptocurrency and having it outperform Bitcoin's growth in 2024 would have had approximately a one-in-three probability.
Ethereum (ETH), on the other hand, delivered more modest returns in 2024 with a gain of 53.4%, recovering from $2,280 on January 1 to $3,498 by December 25—just half of its 98.6% gain in 2023. Throughout the year, Ethereum's price moved within a range, testing the $4,000 level several times but failing to break through its 2021 peak.
As of December 25, the top ten performing cryptocurrencies delivered returns ranging from 1,400.6% to 23,079.2%. Holding any of these assets would have performed at least 10 times better than Bitcoin and 26 times better than Ethereum.
Frequently Asked Questions
What defined cryptocurrency performance in 2024?
The 2024 cryptocurrency market was notably dominated by meme coins, which represented seven of the top ten performers. However, real-world asset projects and ecosystem tokens also delivered substantial returns, particularly those benefiting from growing blockchain adoption and AI-related narratives.
How did major cryptocurrencies like Bitcoin and Ethereum perform?
Bitcoin delivered solid growth of 133.8% in 2024, maintaining its position as a relatively stable investment within the cryptocurrency space. Ethereum underperformed with a 53.4% gain, struggling to break through previous resistance levels despite several attempts throughout the year.
What made meme coins so successful in 2024?
Meme coins benefited from viral social media trends, community engagement, and the growing accessibility of blockchain platforms that made token creation and trading easier. Several meme projects also incorporated emerging technologies like AI, creating additional investment narratives beyond pure speculation.
Were there any non-meme coins that performed well?
Yes, projects like MANTRA (OM) in the real-world asset sector and Aerodrome Finance (AERO) in the decentralized exchange space delivered impressive returns of 6,418.3% and 3,139.4% respectively, demonstrating that fundamental blockchain applications could still generate significant investor interest.
How reliable are past performance indicators for future cryptocurrency investments?
While historical data provides valuable insights, cryptocurrency markets are highly volatile and past performance doesn't guarantee future results. Investors should consider market conditions, project fundamentals, and broader economic factors when making investment decisions.
What risks should investors consider with high-performing cryptocurrencies?
High-performing assets often come with increased volatility and risk. Many top performers in 2024 experienced significant pullbacks from their peaks, demonstrating the importance of risk management and thorough research before investing in any digital asset.