Ripple, NEM Tops Among Cryptocurrencies For Biggest Gains in 2017

Ripple, NEM Tops Among Cryptocurrencies For Biggest Gains in 2017. Although there has been a great deal of talk surrounding the bitcoin and how it rose in value over 2017, it is not the highest-growing cryptocurrency of 2017. Coin Market Cap, a website devoted to listing information on cryptocurrency values and shares, reports that the bitcoin was only the tenth-highest growing currency in the previous year.

The bitcoin moved up in value by 1,318% during 2017. But there are several currencies that had more dramatic rises in 2017 even if they are not of the largest values.

Ripple Is Tops

Ripple had the best performance of any cryptocurrency in 2017. The blockchain system that supports efficient and quick international money transfers had a 36,018% increase in its value over the prior year. Ripple has become very popular among credit institutions and banks for how well it can handle financial transactions quickly, thus leading to the currency’s rise.

Ripple had a value of $0.00633 at the start of 2017. That total went up to about $2.20 as the year ended. The most dramatic rise came in the last few weeks of the year when it had only been about a quarter per coin. The rise also reflects the sudden rise in trading for the currency.

This led to Ripple having the second-highest market cap of all cryptocurrencies in the world. The cap is at $85 billion and is expected to keep growing as the currency becomes more visible.

NEM Grows Too

NEM has also experienced a dramatic rise in its growth. It had an increase of 29,842% over the course of the past year. The currency was listed at $0.003 at the start of the year. It had a few occasions where its volume for trading increased but like with Ripple, it became more popular around the end of the year. Today the currency has a value of around $1.05. The market cap for the currency is a little under $10 billion and is one of the ten most valuable currencies in the world based on its market share.

NEM is a currency that works as a smart asset. It works with a setup similar to the smart contracts that are used on Ethereum. This is used for the construction of assets like loans, legal documents and stock transactions.

The two currencies listed here are both becoming popular thanks to how they work with massive transactions in mind. These include deals that entail long-term fund usage with many banks supporting these assets among other functions.

Other Growth

Other major cryptocurrencies have experiences dramatic increases in their values over the past year too. Ethereum and Dash both had increases of more than 9,000% over their original values at the start of the year. Litecoin, a form of the bitcoin that uses a smaller body and coding system, also had an increase in value of around 5,000%.

The numbers show that the cryptocurrency field is growing with many currencies having massive totals. Although the bitcoin is still the most popular currency on the market, the field does have many other currencies that are expected to be massive players as the new year comes along.