While the entire industry of crypto is reeling from a week of losses that saw more than $20 billion shed from the market capitalization, only two major cryptoassets have managed to outperform bitcoin so far in 2019.
According to market data from CryptoCompare, binance coin (BNB) and chainlink (LINK) have managed to outperform the flagship cryptocurrency through the first three quarters of 2019.
BNB, which operates as the native token to leading crypto exchange Binance and its blockchain, has grown into the seventh-largest cryptoasset by market capitalization thanks to various use cases the cryptocurrency kept on gaining. It can be used to reduce fees on Binance, to lend and gain interest, and to trade on Binance's decentralized exchange.
While the coin started as an ERC-20 token on the Ethereum network, it has since migrated to Binance Chain. Binance coin has appreciated more than 45% against BTC, even after the most recent market crash. In late May, BNB reached a 2019 high of 205% growth against BTC, as the crypto-markets saw a resurgence after nearly a year of bearish conditions. Year-to-date, BNB is up nearly 550% against the US dollar.
Chainlink (LINK) has likewise posted a strong year against bitcoin. Since the start of 2019, LINK is up against BTC, constituting one of the best performing cryptoassets to date. While LINK dropped in USD value since reaching an all-time high in late June, the coin is still up nearly 160% against the USD so far this year.
Bitcoin, meanwhile, has been seeing its price drop for a few months now, but its recovery in the beginning of the year has helped its returns remain positive. So far this year, it’s up 115% against the USD.
Featured Image Credit: Photo via Pexels.com