Top Fastest-Growing Cryptocurrencies
Nowadays, you can immediately purchase, sell, or trade cryptocurrencies on platforms for cryptocurrency exchange. The advantage of virtual tokens is that you can use them in transactions without being monitored by a central bank. Therefore, if you want to invest in or trade digital assets, the fastest-growing cryptocurrencies might be your best option.
We looked at which cryptocurrencies have had an overall gain in value over time, even though the cryptocurrency market is typically volatile. Read on to find out which cryptocurrency might be a good investment for you.
Bitcoin is the very first cryptocurrency created by Satoshi Nakamoto in 2009. BTC operates on a blockchain, a ledger that records transactions, provides owners with a record of all their transactions that cannot be altered, and is shared across a network of multiple computers. Bitcoin is further maintained secure and protected from fraudsters with cryptography controls.
BTC has established itself as a household name, and its price continues to skyrocket along with its popularity. The fact that its scarce digital asset could continue to drive the value higher, and some even believe that BTC could one day replace the US dollar as the global reserve currency. As of late July 2022, BTC’s price is around $21,069, a significant rise from July 2010 when its price was $0.09.
Stellar Lumens (XLM)
The Stellar Development Foundation, a charity founded by Ripple co-founder Jed McCaleb in 2014, issued Stellar lumens (XLM) as native assets. The Stellar Consensus Protocol, a decentralized network of peers capable of operating independently of one another, underlies the operation of Stellar.
Stellar achieves higher speed and efficiency due to this trade-off. Still, it is less decentralized than a system based on a proof-of-work method, such as Bitcoin. Investing in XLM crypto could be a smart investment considering that the coin performed well in 2021, increasing in value from $0.13 to $0.27 throughout the year. According to estimations, the currency could climb from $0.50 in 2025 to $3.09 in 2030.
Because of its potential applications, including so-called “smart contracts” that automatically execute when certain conditions are met, Ethereum—a cryptocurrency and a blockchain platform—is a darling among programmers (NFTs). ETH has also grown incredibly fast over the years. Its price increased by over 13,000%, from roughly $11 to $1,414 between April 2016 and late July 2022.
Cardano (ADA) entered the crypto world a little later but became renowned for utilizing proof-of-stake validation early on. By eliminating the competitive element of verifying transactions in systems like Bitcoin, this technique reduces energy consumption, speeds up transaction times, and has a smaller negative impact on the environment.
Cardano functions similarly to Ethereum in enabling decentralized applications and smart contracts powered by ADA, the native token of the platform. Five years ago, ADA cost $0.02. Its price was $0.46 in late July 2022, which notes a jump of over 2,000%.
Solana is a platform that supports decentralized apps, DeFi, and smart contracts. It leverages a hybrid proof-of-history and proof-of-stake approach to manage transactions in a quick and secure way. The platform is run by the native token of Solana, SOL, whose pricing started at $0.77 when it entered the crypto scene in 2020. However, early in July 2022, the price had increased to roughly $35.95, an increase of more than 4,500%.
Initially started as a joke, Dogecoin quickly became popular thanks to a passionate community and fun memes. In addition, Dogecoins can be manufactured unlimitedly, unlike many other cryptocurrencies, making the currency vulnerable to devaluation. In 2017, Dogecoin’s price was $0.0002. Its price reached 0.061 in late July 2021, up about 32,400%.
Remember that the crypto market is still very volatile if you consider trading or investing in it. Predicting a coin’s price accurately even for the upcoming few hours is challenging. So,
before making any investment or trading decisions, we advise you to always conduct your own research and consider the most recent market trends, news, technical and fundamental analysis, and expert opinion. Finally, remember that past price performance does not guarantee future results.