42 coins have outperformed BTC year-to-date: Lookonchain

According to a Lookonchain analysis, Popcat, Mantra, and Mog Coin are among 42 cryptocurrencies that have outperformed Bitcoin in 2024.

While Bitcoin (BTC) remains the largest and most recognized digital asset, attracting significant institutional interest, it has been eclipsed by numerous altcoins in terms of year-to-date returns. As of September 2024, Popcat (POPCAT) has surged by an astonishing 7,550% since Binance announced trading support in August. Mantra (OM) has also experienced impressive growth, rising 1,550% year-to-date as it prepares for its mainnet launch in October.

Mog Coin (MOG) has seen a remarkable increase of 2,200%, along with other notable performers like MAGA, which rose 1,129%. In contrast, Bitcoin has achieved a return of just over 43% during the same period.

Meme Coins and Exchange Tokens

Many of the altcoins outpacing Bitcoin this year include meme coins and exchange tokens. Despite Bitcoin’s significant rise in 2024—fueled by sentiment around spot exchange-traded funds and the upcoming halving event that propelled it to an all-time high above $73,000—meme coins have dominated the top gainers list.

Of the top ten gainers compared to Bitcoin year-to-date, eight are meme coins, with Binance listing four of them. For instance, Dogwifhat (WIF) has gained 976% since its listing on Binance in 2024, experiencing over 230% growth since trading support was added in March.

Other notable gainers include ARKM, PENDLE, FLOKI, and PEPE, which have all benefited from their listings on Binance in 2023, leading to substantial momentum in 2024. Lookonchain suggests that these exchange listings have played a significant role in boosting the performance of these tokens.