Which Cryptocurrency Has the Highest ROI as of Q1 2020? Bitcoin Only Ranked 5th

Which Cryptocurrency has the Highest ROI as of Q1 2020? Bitcoin only Ranked 5th

With the current macroeconomic uncertainty and coronavirus pandemic, more investors have started to invest in cryptocurrencies for portfolio diversification. Bitcoin may be the most obvious hedge asset that comes to mind but, which cryptocurrency really had the highest Return on Investment (ROI) as of Q1 2020?

We have compared the ROI of the top 30 cryptocurrencies with the highest market capitalization on CoinMarketCap. In the context of cryptocurrencies, ROI refers to the approximate return on investment if purchased at the time of launch, or earliest known price. The results may surprise you as the favourite Bitcoin only ranked 5th among the top 30 cryptocurrencies.

Which Cryptocurrency Takes the Top Spot?

According to our analysis, DASH is the surprise leader with an ROI of 25,457%! This means DASH has a 254x price growth compared to its initial price of $0.2574. DASH is the second-largest cryptocurrency in Venezuela, and its adoption will surpass 10% of stores in 2020. DASH has a significant presence in the Asian market especially Thailand. In particular, DASH has been boosting crypto adoption in Asian tourism, in which DASH is accessible to over 1.5 million hotels and 400+ airlines worldwide. The boost in Asian tourism encourages the holding and purchase of DASH, which helps to justify the high ROI.

Exhibit 1: ROI for Top 30 Cryptocurrencies

Source: CoinMarketCap

Action-Packed Binance Ranked 2nd

Binance ranked 2nd with an ROI of 11,310%. This is within our expectation due the rapid development we have witnessed from Binance. Apart from boosting its super exchange ecosystem with staking and stablecoins, Binance has been an active player in the battle against the coronavirus. Binance just launched the “Crypto Against COVID” charity project aiming to raise $5M in cryptocurrencies. Changpeng Zhao (CZ) remained optimistic about the future of cryptocurrencies amid coronavirus outbreak. He is confident once people realized that hoarding cash is no longer needed in pandemic situations, they will start investing their money into cryptocurrencies. It is apparent that the recent macroeconomic slowdown is not a major obstacle for Binance’s development, with Binance just announced the launch of “Binance Card” and partnership with Brave to enable seamless crypto trading on the web browser. Such partnerships boost the investment prospect of Binance and encourage the trading of Binance coin.

Negative ROI for some cryptos

Bitcoin ranked 5th in ROI of 4,698% and Ethereum ranked 6th with an ROI of 4,622%. Bitcoin Cash, Cosmos and Zcash resulted in a negative ROI of -60%, -69% and -99% respectively. With the recent “red sea” of losses caused by coronavirus and global stock market crash, it is not surprising that altcoins are experiencing negative returns and we expect this can continue in the short term.

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Disclaimer

This analysis is presented for informational purposes only and should not be treated as investment advice.