Bitcoin, the leading cryptocurrency, has spent more than 28% of its existence trading at a value of five digits per unit. In 2022 and 2023, Bitcoin (BTC) and yearn finance (YFI) were the only two tokens in this range, but currently, only Bitcoin maintains that status. Let's take a look at the most expensive cryptocurrencies today based on the number of digits they hold after two years.
As of Saturday, June 22, 2024, at 2:30 p.m. EDT, Bitcoin has been trading at $64,261 per coin. It is the only cryptocurrency valued at five digits, consistently remaining above the $10,000 threshold. An analysis by Bitcoin.com News last week showed that BTC has been 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 still maintained its five-digit status, with a price of $11,455 per coin. However, the situation has changed in the last two years. On June 22, 2024, the price of YFI dropped to $5,786 per unit, ranking just above ethereum (ETH), which is priced at $3,499 per coin. YFI and ETH are currently the leaders in the four-digit category.
Currently, there are only three cryptocurrencies in the four-digit range: YFI, ETH, and Makerdao's MKR, which is priced at $2,460 per coin. Following MKR is binance coin (BNB) at $586 per unit. The three-digit range includes five coins: BNB, bitcoin cash (BCH), gnosis (GNO), bittensor (TAO), monero (XMR), and solana (SOL).
Surprisingly, as of 2024, only 14 different crypto assets are priced in the two-digit range, although this number may vary. This group includes AAVE, QNT, LTC, BSV, ORDI, OKB, EGLD, AR, AVAX, ENS, ETC, INJ, LINK, and NEO. Any crypto asset not mentioned here is priced at $9.99 or less per unit.
Bitcoin's ability to maintain its position above the five-digit mark showcases its dominance in the cryptocurrency market throughout the years. While other digital currencies like YFI, ETH, and MKR experience fluctuations, their different price points emphasize the market's constant volatility. The high prices of cryptocurrencies can create a division among investors, with some viewing them as premium opportunities and others seeking value in the broader crypto market.
What are your thoughts on the most expensive cryptocurrencies in the market today? Share your opinions in the comments section below.