The year 2020 was a transformative period for the cryptocurrency market. Following a volatile start, the sector surged into a full-blown bull run by year-end, driven largely by Bitcoin’s rally and the explosive growth of decentralized finance (DeFi). While new projects captured headlines, many legacy cryptocurrencies—those launched between 2014 and 2018—also delivered extraordinary returns, with several recording gains exceeding 500%.
Based on data from CoinMarketCap and other leading platforms, this article highlights 14 established digital assets from the top 150 by market cap that achieved the most impressive price increases in 2020. We explore their core functionalities, key developments during the year, and the fundamental drivers behind their remarkable performance.
Core Keywords
- DeFi crypto
- Legacy cryptocurrencies
- High-growth altcoins
- Blockchain innovation
- Cryptocurrency investment
- Decentralized protocols
- Smart contract platforms
- Digital asset performance
AAVE: Powering the DeFi Lending Revolution
AAVE, launched in December 2017, soared by an astonishing 5,368.7% in 2020. As the native token of the Aave protocol, it powers one of the most influential decentralized lending platforms.
Aave enables users to deposit crypto assets into liquidity pools to earn interest or borrow funds using collateral. Its standout feature—flash loans—allows uncollateralized borrowing for a single transaction block, widely used for arbitrage and risk hedging.
👉 Discover how decentralized lending is reshaping finance
The surge in AAVE’s value was fueled by the 2020 DeFi boom. In July, Aave introduced liquidity mining, incentivizing user participation. Later, in December, the launch of Aave V2 enhanced functionality with features like credit delegation and improved collateral management, solidifying its leadership in the lending space.
THETA: Decentralizing Video Streaming
THETA, also launched in December 2017, rose 1,752% in 2020. It underpins Theta Network, a decentralized video delivery platform originally spun off from SLIVER.tv.
Theta leverages a peer-to-peer network where users share bandwidth and computing power to relay video streams, reducing costs and improving quality. The ecosystem uses two tokens: THETA for governance and TFUEL for payments.
Key milestones in 2020 included the launch of Theta Mainnet 2.0 in May, with Google Cloud joining as an enterprise validator. The announcement of Mainnet 3.0 in December introduced TFUEL staking and burn mechanisms. Strategic partnerships with Samsung and integration of NFTs further boosted adoption.
ZIL: Scaling Blockchain Through Sharding
Zilliqa’s native token ZIL, launched in January 2018, surged 1,544% in 2020. Zilliqa is a high-throughput public blockchain built on sharding technology, enabling parallel transaction processing to solve scalability issues.
In 2020, Zilliqa expanded its DeFi ecosystem with tools like ZSwap (a decentralized exchange) and Zyro (a website builder with crypto integration). The introduction of a non-custodial staking model and the governance token gZIL incentivized long-term holding.
Despite criticism over centralization concerns, Zilliqa gained visibility through aggressive international marketing, particularly on social media platforms.
MLN: Democratizing Asset Management
Enzyme Finance (formerly Melon), powered by MLN (launched February 2017), delivered an 874% return. It offers a decentralized asset management protocol on Ethereum, allowing users to create and manage investment funds with customizable strategies.
With no need for intermediaries like banks or legal entities, Enzyme lowers barriers to entry for fund managers and investors alike. As DeFi gained traction, so did demand for transparent, on-chain fund solutions—positioning MLN as a key player in decentralized wealth management.
REN: Unlocking Cross-Chain Liquidity
REN (Republic Protocol), launched in February 2018, climbed 865.1%. It enables trustless cross-chain transfers via RenVM, a decentralized virtual machine that brings assets like Bitcoin onto Ethereum as wrapped tokens (e.g., renBTC).
As DeFi protocols required more Bitcoin liquidity, renBTC became essential. By late 2020, over 13,000 BTC were locked in Ren-powered applications—demonstrating strong real-world utility and driving REN’s price appreciation.
DNT: Building Decentralized Marketplaces
DNT, district0x’s token (launched August 2017), gained 788.5%. District0x is a network of decentralized marketplaces and communities built on Ethereum, Aragon, and IPFS.
Users employ DNT to participate in governance, access services, and earn rewards. The token received a significant boost when Coinbase Pro listed DNT in November, increasing its liquidity and visibility.
LRC: Enhancing DEX Performance With zkRollups
Loopring’s LRC (August 2017) rose 711%. Loopring is a non-custodial DEX protocol leveraging zkRollup technology to scale Ethereum transactions.
Its v3.0 launch in 2020 drastically improved throughput and reduced fees. Notably, Loopring became the first China-community-led project listed on Coinbase Pro, marking a milestone for Asian blockchain teams.
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ANT: Empowering DAOs
Aragon’s ANT token (May 2017) increased 655.5%. Aragon enables the creation and management of decentralized autonomous organizations (DAOs), giving teams full control over governance without centralized oversight.
With DAOs emerging as a dominant trend in 2020, over 1,500 organizations were built on Aragon by September. Its liquidity mining program further drove user engagement and token demand.
XEM: Pioneering Japanese Blockchain Innovation
XEM (NEM), launched April 2015, gained 583.2%. NEM is a community-driven blockchain focused on enterprise solutions and interoperability.
In September 2020, NEM announced Symbol, a next-generation chain offering enhanced smart contracts and multi-signature accounts. All XEM holders received an airdrop of XYM tokens—an event that energized the community and lifted prices.
GNO: Harnessing the Wisdom of Crowds
Gnosis (GNO), launched April 2017, rose 574.9%. It operates a decentralized prediction market platform where users bet on real-world outcomes using crypto.
Interest spiked during the 2020 U.S. presidential election, driving record participation. Gnosis also launched new tools like GnosisDAO, Gnosis Protocol (a DEX), and CMM (Custom Market Maker), expanding its ecosystem.
WAVES: Bridging Real-World Applications
WAVES (May 2016) gained 564%. This Russian-developed blockchain supports custom tokens and dApps with a focus on Web3 infrastructure.
Key initiatives in 2020 included advancing Gravity, its cross-chain oracle system, and growing Neutrino, a DeFi protocol similar to MakerDAO. Aggressive marketing in China also contributed to increased awareness.
LINK: Connecting Blockchains to the Real World
Chainlink’s LINK token (September 2017) surged 525.5%. As a decentralized oracle network, Chainlink securely connects smart contracts to off-chain data sources like stock prices or weather feeds.
With growing adoption across Ethereum and other blockchains, Chainlink became the go-to oracle solution—fueling demand for LINK used to pay node operators.
SNX: Pioneering Synthetic Assets
Synthetix (SNX), launched March 2018, rose 483.7%. It allows users to mint synthetic assets (Synths) that track real-world instruments like gold or Tesla stock—without owning them directly.
As interest in bridging traditional finance with DeFi grew, Synthetix emerged as a leader in this niche—driving staking activity and boosting SNX demand.
ETH: The Backbone of DeFi
Ethereum (ETH), launched July 2014, appreciated 460% in 2020. As the leading smart contract platform, it hosts nearly all major DeFi protocols.
The DeFi boom drastically increased network usage and transaction fees—highlighting ETH’s value as digital oil powering the ecosystem. The announcement of Ethereum 2.0 and the start of staking further cemented confidence in its long-term viability.
👉 Learn how Ethereum continues to shape Web3
Frequently Asked Questions (FAQ)
What defines a "legacy" cryptocurrency?
A legacy cryptocurrency typically refers to a digital asset launched before 2019 that has maintained relevance through technological innovation or strong community support.
Why did DeFi projects dominate 2020's top gainers?
The DeFi movement unlocked new financial primitives—lending, borrowing, trading—without intermediaries. This innovation attracted massive capital inflows and speculative interest.
Is past performance indicative of future results?
No. While these coins saw huge gains in 2020, future returns depend on adoption, technological progress, market cycles, and regulatory developments.
How important is mainnet development to price growth?
Critical. Upgrades like Aave V2 or Theta Mainnet 3.0 signal progress and unlock new utility—key drivers of investor confidence.
What role did exchange listings play?
Major listings (e.g., Coinbase Pro) significantly increase liquidity and visibility—often triggering rapid price appreciation due to broader retail access.
Should I invest based on historical gains alone?
Absolutely not. Always conduct thorough research into project fundamentals, team credibility, tokenomics, and risk factors before investing.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are highly volatile and carry significant risk.