- Messari data shows OKB is the only token from the 187 that beat Bitcoin in 2020-21 still outperforming it.
- 86% of the rest have lost at least 90% of their value.
- In 2026, the coins that occasionally top Bitcoin are newer AI and DeFi tokens like NEAR, Render, and Hyperliquid, and they lead only in short windows.
Only 22 tokens have managed to put in better price performances than Bitcoin over the last 24 months, according to an analysis posted by Messari analyst Carlos Gonzalez Campo. Of that group, only OKB has outperformed BTC if the slider is shifted to 2021.
In the Messari analysis posted on August 4, about 187 coins had better runs than Bitcoin at the top of the 2020-21 bull market. Fast forward to 2026, and the list of tokens posting performance comparable to BTC has grown exponentially shorter, with names rotating even faster.
In fact, of the names currently on the short list of tokens to have outperformed Bitcoin over the last two years, barely any of them existed four years ago.
Which tokens have outperformed Bitcoin?
Exchange tokens had a strong representation among the group of tokens that Messari observed to have done better than Bitcoin, with a 32% share. Binance’s BNB, OKX’s OKB, Gate’s GT, Bitfinex’s LEO, Bitget’s BGB, WhiteBIT’s WBT, MEXC’s MX and PancakeSwap’s CAKE all made the list.
PancakeSwap’s CAKE was the only DEX token to clear the bar.
OG cryptos like ETH, SOL, and TRON also made the cut, joined by a small number of meme projects and breakout stars from different market cycles.
Of this group, OKB is in a tier of its own as the only token to have maintained its lead on Bitcoin for the longest, dating as far back as November 2021. Of the 187 names in the Bitcoin outperformer class of 2021, 86% of them have collapsed at least 90% from their all-time high prices. The median decline of the class is at 98%.
Crypto projects rotate leads across cycles
While different projects have rotated leading the market across different cycles, Bitcoin has retained its place as the benchmark, displaying its resilience across different hype and drawdown cycles.
For example, when Bitcoin slipped under $70,000 and lost about 12% over two weeks in June 2026, three of the tokens that outperformed it during that period, NEAR Protocol, Internet Computer (ICP) and Render (RENDER), presented as AI-linked projects.
DeFi projects also put in their own submissions in June, with Hyperliquid (HYPE) up more than 160% up to that point in the year. Meanwhile, other leaders from previous cycles, such as Uniswap, Ondo, and Aave carried double-digit losses for the year, in a lag that Bitwise analysts interpreted as a “quiet repricing” of the sector
Bitcoin kept its grip on the market
Those wins came in narrow windows, and the wider altcoin market stayed weak. By late June, more than 84% of altcoins traded below their 200-day moving average, the longest depressed run since the 2022 bear market, CryptoQuant analyst Darkfrost told Cryptopolitan.
He warned that altcoins now track Bitcoin closely and fall harder when it drops, which makes spotting the next batch of winners harder than in earlier cycles.
July brought only a partial thaw. Bitcoin gained 9.03% for the month and still beat most altcoins and tokens, though Ether outran both with a 20.32% return, Cryptopolitan reported.
The takeaway across the year is consistent: outperforming Bitcoin has become the exception, and holding it has become the surer bet.
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FAQs
Which token has outperformed Bitcoin since the 2021 peak?
OKB. According to Messari, it is the only one of the 187 tokens that beat Bitcoin during the 2020-21 bull market that still outperforms it when measured from the November 2021 high.
Which tokens beat Bitcoin in mid-2026?
In June 2026, NEAR, Internet Computer, and Render each posted double-digit gains while Bitcoin fell, and DeFi tokens led by Hyperliquid dropped far less than Bitcoin.
Why are most altcoins struggling against Bitcoin in 2026?
By late June, more than 84% of altcoins traded below their 200-day moving average, the longest such stretch since 2022, and they now closely track Bitcoin's direction while falling harder in downturns, according to CryptoQuant.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Hannah Collymore
Hannah is a writer and editor with nearly a decade of blog writing and event reporting experience in the crypto space. At Cryptopolitan, Hannah contributes to the news page, reporting and analyzing the latest developments in DeFi, RWA, crypto regulation, AI and frontier tech industries. She graduated from Arcadia university with a degree in Business Administration.
