The year 2017 was a watershed moment for the cryptocurrency market. What began as a niche interest among tech enthusiasts exploded into a global financial phenomenon, drawing investors, institutions, and media attention like never before. While Bitcoin made headlines with a staggering 1,000% increase in value, it surprisingly didn’t even crack the top 10 best-performing cryptoassets of the year.
This anomaly highlights a broader trend: the rise of alternative digital assets—some built on innovative blockchain platforms, others emerging from the Initial Coin Offering (ICO) boom—that outpaced even the most dominant player in the space.
In this deep dive, we’ll explore the top performers of 2017, examine why Bitcoin lagged behind in relative gains, and provide context for understanding the explosive growth that defined the era.
The Top 10 Cryptoassets of 2017
Our ranking is based on yearlong performance data from CoinMarketCap, focusing on the top 10 cryptoassets by market capitalization as of January 1, 2018. The list includes both standalone cryptocurrencies and tokens built on the Ethereum blockchain.
While Bitcoin surged by over 1,000%, several other assets delivered returns that defy conventional financial logic—some exceeding tens of thousands of percent in gains.
Here are the standout performers:
- Ripple (XRP) – Up 36,000%
Positioned as a next-generation payment protocol for financial institutions, Ripple saw massive adoption interest from banks worldwide. Its late-year surge propelled it to the top of the performance charts. - NEM (XEM) – Up 2,900%
Known for its scalable blockchain and smart asset system, NEM gained traction in enterprise applications and was adopted by the government of Malaysia for pilot projects. - Ardor (ARDR) – Up 2,400%
A blockchain platform focused on child chain architecture, Ardor benefited from early investor confidence and strong community support despite being relatively unknown. - Dash (DASH) – Up 2,200%
Emphasizing fast transactions and privacy features, Dash expanded its point-of-sale infrastructure globally, increasing real-world usability. - Litecoin (LTC) – Up 1,900%
Often called “digital silver” to Bitcoin’s “digital gold,” Litecoin’s adoption grew due to faster block generation and increasing exchange support. - Ethereum (ETH) – Up 1,300%
As the foundation for most ICOs in 2017, Ethereum’s ecosystem expansion drove demand for Ether. Its smart contract capabilities made it indispensable. - IOTA (MIOTA) – Up 1,200%
Targeting the Internet of Things (IoT), IOTA’s feeless microtransaction model attracted partnerships with major tech firms. - Monero (XMR) – Up 1,100%
With a focus on privacy and untraceable transactions, Monero became a preferred choice for users seeking anonymity. - Stellar (XLM) – Up 950%
Similar to Ripple but with a nonprofit mission, Stellar partnered with IBM and expanded financial access in emerging markets. - NEO – Up 850%
Dubbed the “Chinese Ethereum,” NEO gained momentum due to strong domestic support and regulatory tolerance in Asia.
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Bitcoin, despite its 1,000% rise, ranked 14th, underscoring how smaller-cap assets can deliver exponential returns during bull cycles.
Why Bitcoin Didn’t Make the Top 10
At first glance, a 1,000% return seems extraordinary—especially compared to traditional markets. For context, the Nasdaq Composite Index rose just 27% in 2017. Yet in the crypto world, that performance was merely average.
The reason lies in market maturity and base value:
- Bitcoin started the year at around $1,000. A 1,000% gain brought it to roughly $10,000—a massive absolute increase.
- Smaller projects began at fractions of a cent. A modest influx of capital could multiply their value hundreds or thousands of times over.
Additionally, Bitcoin operates as a store of value and network security leader. Its stability comes at the cost of explosive short-term growth potential compared to speculative altcoins.
When excluding Ethereum-based tokens (ICOs), Bitcoin ranked 8th among native blockchain assets, still trailing behind Ethereum and Litecoin.
The ICO Boom: Fueling Unprecedented Gains
One of the defining trends of 2017 was the Initial Coin Offering (ICO) craze, which raised over $3.7 billion in investor funds. These crowdfunding events allowed startups to issue tokens on the Ethereum blockchain in exchange for Ether or Bitcoin.
Projects like Golem and OmiseGo attracted significant hype but underperformed compared to lesser-known platforms like Ardor or NEM. This disparity reflects how early-stage investments can yield outsized returns—if timed correctly.
However, many ICOs lacked clear roadmaps or real-world utility, leading to volatility and long-term skepticism.
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Market Context: Was 2017 Sustainable?
The astronomical gains of 2017 were driven by:
- Increased retail participation
- Mainstream media coverage
- FOMO (fear of missing out)
- Limited regulatory oversight
- Growing institutional curiosity
Yet such performance is nearly impossible to repeat consistently. Markets tend to correct after speculative bubbles, and 2018 saw significant pullbacks across the board.
Still, the foundational technologies—blockchain, decentralized finance (DeFi), smart contracts—continued to evolve.
Frequently Asked Questions
Q: Why did Ripple outperform Bitcoin so dramatically in 2017?
A: Ripple’s low starting price and strategic partnerships with banks created massive investor enthusiasm. A small investment could grow exponentially due to its low market cap at the beginning of the year.
Q: Does high return always mean better investment?
A: Not necessarily. High returns often come with high risk. Many top-performing assets in 2017 experienced sharp declines in subsequent years due to market corrections or lack of adoption.
Q: What role did Ethereum play in the 2017 crypto surge?
A: Ethereum enabled the ICO boom by providing a platform for token creation. Over 80% of new tokens launched on its blockchain, increasing demand for Ether and cementing its status as a core infrastructure layer.
Q: Can we expect similar gains in future years?
A: While another 36,000% return is unlikely across major assets, new technologies like layer-2 solutions, DeFi protocols, and tokenized assets may create niche opportunities for high growth.
Q: How should investors approach cryptoasset taxation?
A: Profits from crypto trading are taxable in most jurisdictions. Keeping accurate records and consulting tax professionals is crucial. Tools and guides exist to help calculate capital gains accurately.
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Final Thoughts
The year 2017 remains legendary in crypto history—not just for Bitcoin’s rise, but for the explosion of innovation and investment across hundreds of new digital assets. While many projects failed to deliver long-term value, others laid the groundwork for today’s decentralized ecosystem.
Understanding past performance helps inform future decisions. Whether you're drawn to established giants like Bitcoin and Ethereum or exploring emerging sectors like Web3 and tokenized assets, one thing is clear: the crypto journey is far from over.
Core Keywords: cryptoassets, Bitcoin, Ethereum, Ripple, ICOs, blockchain, cryptocurrency gains, altcoins