The 2024 crypto bull run, which some think could be the largest crypto space has ever seen, has helped the world’s largest digital coins reach their multi-year highs, bringing impressive gains to crypto investors.
Although most leading cryptos saw double and triple-digit price gains in the four months of the year, some of them missed the crypto hype, significantly underperforming the market.
According to data presented by Stocklytics.com, Polygon and Cardano are the two worst performers among the top cryptos, bringing losses to 86% and 61% of their investors this year, respectively.
The world’s seventeenth-largest cryptocurrency by market cap, Polygon, is having a rough start in 2024. While all the other digital coins saw their prices surge amid the latest crypto hype, Polygon has been losing value and bringing losses to its investors.
Since the beginning of the year, Polygon’s price has dropped by 23%, reaching $0.73 last week, significantly cutting down the share of Polygon addresses in profit. According to IntoTheBlock data, Polygon’s latest price slump has left more than 86% of investors with losses, or roughly 20% more than at the beginning of the year. Statistics also show that only 10% of investors made money from investing in Polygon this year, the lowest share among all the top cryptos.
Cardano is not far from that figure. As of last week, only 34% of Cardano investors made money, while more than 61% of them suffered losses, the second-highest share among the top cryptos.
The IntoTheBlock data show that Litecoin and Uniswap were also close to Polygon and Cardano in terms of profitability and investment return, causing losses to 50% and 53% of their investors, respectively.
Meanwhile, Toncoin’s 2024 price rally has increased its value by 160% year-to-date, bringing gains to an impressive 99.6% of investors, more than any other crypto on this list. Bitcoin follows Toncoin with 88% of addresses in profit, or 23% more than in the same month a year ago.
Statistics show over 84% of Wrapped Bitcoin addresses have gains, ranking the coin as the third-best performer on this list. Tron is one place behind, with roughly 80% of investors making money. Dogecoin and Ethereum follow, with 80,5% and 77,9%, respectively.