The great 2023 crypto performance award – Who won?
The post The great 2023 crypto performance award – Who won? appeared on BitcoinEthereumNews.com.
The cryptocurrency market has had a rollercoaster year in 2023, with soaring highs and unexpected twists. Bitcoin, the king of cryptocurrencies, has seen impressive gains of over 150%, while Ethereum, its closest rival, recorded nearly 100% growth. However, the spotlight isn’t just on these digital assets; stocks and ETFs tied to the crypto world have seen even more astonishing returns. Coinbase, a major cryptocurrency exchange, has been a star performer, with its stock price surging by approximately 420% throughout the year, defying its ongoing legal tussle with the US Securities and Exchange Commission (SEC). What’s driving this surge? Coinbase’s diverse revenue streams, including subscription and services revenue from stablecoins, custodial fees, blockchain rewards, and interest income, have outpaced its transaction revenue. This shift aligns with the exchange’s vision of becoming a “crypto super app” in the future, a strategy that appears to be paying off. MicroStrategy: The Bitcoin Advocate MicroStrategy, known for its bullish approach to Bitcoin, has also had an exceptional year. With multiple purchases of Bitcoin, the business intelligence firm’s stock price has soared by approximately 338% in 2023. Its dedication to Bitcoin as a treasury reserve asset has attracted investors’ attention and contributed to its remarkable performance. Bitcoin Miners: Riding the Hashrate Wave Companies involved in Bitcoin mining have witnessed astronomical stock price growth in 2023. Marathon Digital, the largest North American Bitcoin miner by hashrate, saw its stock price surge by an impressive 643%. Bitfarms and CleanSpark also posted remarkable gains of 610% and 458%, respectively. Riot Platforms, a significant player in Bitcoin mining machine purchases, recorded a year-to-date increase of 375%. Hut 8 experienced substantial growth after merging with US Bitcoin Corp., leading to an astonishing stock price surge of over 1,500%. This surge followed a five-to-one reverse stock split, which significantly raised the price…
Filed under: News - @ December 29, 2023 11:18 pm