Exploring Crypto's Most Expensive Assets The 5, 4, and 3-Digit Clubs

Exploring Crypto’s Most Expensive Assets: The 5, 4, and 3-Digit Clubs

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Throughout Bitcoin’s history, the leading crypto asset has traded at five digits per unit for over 28% of its time. In 2022 and 2022, bitcoin (BTC) and yearn finance (YFI) were the only two tokens trading in the five-digit range; however, currently, only bitcoin maintains that status. The following is an overview of the most expensive crypto assets today, focusing simply on the number of digits they held for two years.

The Shifting Members of Crypto’s Multi-Digit Clubs

This weekend, bitcoin (BTC) has been trading at $64,261 per coin on Saturday, June 22, 2024, at 2:30 p.m. EDT. Bitcoin remains the sole cryptocurrency with a five-digit valuation, consistently holding above the $10,000 threshold. An analysis by Bitcoin.com News last week revealed that BTC’s price has stayed in the five-digit range for 28% of its existence.

In 2021, yearn finance (YFI) reached the five-digit territory, trading at $28,611.73 per coin. By 2022, YFI maintained its five-digit status, with its price noted at $11,455 per coin. Fast forward two years and the scenario has changed. On June 22, 2024, YFI dropped to $5,786 per unit, ranking just above Ethereum (ETH), which is priced at $3,499 per coin. YFI and ETH are the leaders in the four-digit category.

Currently, only three cryptocurrencies fall into the four-digit range: YFI, ETH, and Makerdao’s MKR, which is priced at $2,460 per coin. In terms of pricing, MKR is followed by Binance coin (BNB) at $586 per unit. The three-digit range includes just five coins: BNB, bitcoin cash (BCH), gnosis (GNO), bittensor (TAO), monero (XMR), and Solana (SOL).

Believe it or not, as of 2024, only 14 different crypto assets are priced in the two-digit range, although this number may vary. Currently, this group comprises AAVE, QNT, LTC, BSV, ORDI, OKB, EGLD, AR, AVAX, ENS, ETC, INJ, LINK, and NEO. Any crypto asset not listed previously in the editorial is priced at $9.99 or less per unit.

Bitcoin’s enduring position above the five-digit mark underscores its dominant role in the cryptocurrency market over the years. As other digital currencies like YFI, ETH, and MKR navigate fluctuations, their varied price points highlight the market’s constant volatility. Steep prices of cryptocurrencies can spark a divide: some investors see them as premium opportunities, while others steer towards less expensive coins, seeking value in the broader crypto market.

Content Source: https://news.bitcoin.com/exploring-cryptos-most-expensive-assets-the-5-4-and-3-digit-clubs/

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