While the cryptocurrency industry has been evolving over the years, it has given rise to many companies oriented on cryptocurrencies and their related blockchain technology. At the same time, their shares have become equal participants in the stock market, some performing better than others in 2023.
Indeed, four crypto stocks have stood out for their significantly bullish price movements and related positive developments during the year that is almost over, and their success might even continue in 2024, provided they maintain the positive trend from 2023.
#1 Marathon Digital (NASDAQ: MARA)
Specifically, crypto mining giant Marathon Digital (NASDAQ: MARA) has climbed the ranks to become the largest Bitcoin (BTC) mining company with a $5.94 billion market capitalization according to the CompaniesMarketCap data from December 26, and it has managed to grow its stock price by 685.59% in 2023.
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Trading at $26.71, MARA has outperformed 99% of all assets in the stock market in yearly results and is doing better than 98% of the 281 other stocks in the software industry. Specifically, its price indicates a 46.04% weekly gain, an advance of 134.09% across the month, as per the data on December 26.
#2 Riot Platforms (NASDAQ: RIOT)
Outshining even the best S&P 500 performers like Nvidia (NASDAQ: NVDA) and Meta Platforms (NASDAQ: META) in price gains this year, Riot Platforms (NASDAQ: RIOT) ranks as the second-largest Bitcoin mining platform with a market cap of $3.67 billion, and some experts believe its price could hit $100 soon.
Indeed, witnessing massive returns in 2023 driven by the broader crypto market’s resurgence, Riot has performed better than 99% of all other stocks this year, outmatching 96% of other stocks in the software industry, and currently trading at $17.78, up 13.76% on the week, 47.92% over the month, and 427.6% this year.
#3 Coinbase (NASDAQ: COIN)
Despite a lawsuit initiated by the United States Securities and Exchange Commission (SEC), the centralized exchange Coinbase (NASDAQ: COIN) has continued to record exceptional results in 2023, having gained 422.26% this year alone and currently trading at the price of $175.48.
Indeed, in terms of its yearly performance, COIN did better than 99% of all other stocks, outperforming 99% of the 207 other stocks in the capital markets industry, on top of advancing 18.65% in the last week and increasing 51.88% over the month, and announcing its global expansion through the introduction of spot crypto trading on its international exchange.
#4 MicroStrategy (NASDAQ: MSTR)
Finally, MicroStrategy (NASDAQ: MSTR) has seen its shares rise by a whopping 327% in 2023 alone, largely driven by a broader crypto resurgence throughout the year, and is doing better than 99% of all other stocks in the market, as well as outshining 94% of stocks in the software industry.
With the current price of $619.24, MSTR has advanced 8.56% across the previous seven days, in addition to gaining 19.03% on its monthly chart, profiting on the massive Bitcoin bet that its co-founder and executive chairman Michael Saylor made back in 2020.
Conclusion
All things considered, the above crypto stocks have surpassed all expectations in 2023, performing better than the majority of their peers as well as other assets in the stock market. That said, their further success does not come as a guarantee, which is why doing one’s own research is essential before investing.
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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
