Top 15 Fastest Growing Cryptos

In late March 2022, the cryptocurrency sector is going through an exciting time. The industry has increased 24% in the past two weeks to reach its biggest market cap ($2.1 trillion) since January 5, and Bitcoin recently achieved a new year high of $47,180.

The price of almost all of the top 20 crypto tokens has increased in the past week. With a 34% price increase, Cardano's ADA has experienced the biggest growth, but Solana, Polkadot, Dogecoin, and Cronos are not far behind. Only one of the top 20 tokens, LUNA, has experienced a loss over the past seven days as its price has fallen 1.6%.

With a market cap of $2.1 trillion, cryptocurrencies only require an increase of $100 billion to reach a new record high. Here we have listed the 15 fastest-growing cryptos.

1. Tether

One of the first and most well-known stablecoins—cryptocurrencies that attempt to tether their market value to a currency or other external reference point in order to lessen volatility—was Tether (USDT). The majority of digital currencies, including popular ones like Bitcoin, have frequently experienced periods of extremely high volatility. Tether and other stablecoins aim to reduce this volatility in order to draw in consumers who may otherwise be wary. Tether ranked third in terms of market capitalization as of July 8, 2022, with a market cap of $70 billion and a token price of $0.9994.

Key Features:

• The cost of Tether is directly correlated with the value of the US dollar. Instead of truly converting to fiat money, the system enables users to transfer funds more quickly and easily from other cryptocurrencies back to dollars.

• This coin reduces the volatility and complexity frequently associated with digital currencies by enabling users to use a blockchain network and related technology to transact in traditional currencies.

2. Binance Coin

A utility cryptocurrency called Binance Coin (BNB) is used to pay commissions for trading on the Binance Exchange. It ranks third in terms of market capitalization among all cryptocurrencies. Based on trade volumes, Changpeng Zhao launched the Binance Exchange, which is among the most popular exchanges worldwide. The market capitalization of Binance Coin as of July 8, 2022, is $39 billion, and one BNB is now worth about $241.83.

Key Features:

• Trades can be made at a discount for those who pay for the exchange using the token.

• The blockchain that powers Binance Coin also serves as the foundation for Binance's decentralized exchange.

• A PoS consensus model is employed by the network.

3. XRP

The XRP Ledger, developed by Ripple in 2012 as a payment system, uses XRP as its native coin. On July 8, 2022, XRP had a $16.5 billion market cap and was trading at about $0.34.

Key Features:

• The XRP Ledger Consensus Protocol is the consensus process used by the XRP Ledger, and it does not rely on proof-of-work or proof-of-stake for consensus or validation. Instead, transactions are signed and sent to the ledger servers by client applications. After comparing the transactions, the servers come to the conclusion that they should be entered into the ledger.

• The validators review the transaction candidates that the servers have sent them and decide if the servers have correctly captured the transactions before recording the ledger version.

4. Cardano

An "Ouroboros proof-of-stake" cryptocurrency called Cardano (ADA) was developed using a research-based methodology by engineers, mathematicians, and cryptography professionals. Charles Hoskinson, one of the original five founding members of Ethereum, co-founded the project. He quit Ethereum because he didn't like the way it was going in and later worked on the creation of Cardano. Cardano is the eighth-largest market value as of July 8, 2022, with $15.7 billion, and one ADA is currently trading for about $0.47.

Cardano's development team built its blockchain through thorough testing and peer-reviewed research. The project's researchers have authored more than 120 articles on blockchain technology covering a range of subjects. The core of Cardano is built on this study. Cardano stands out among its PoS counterparts and other well-known cryptocurrencies because of this stringent procedure.

Key Features:

• Cardano's blockchain is said to be more capable than Ethereum's, earning it the moniker "Ethereum killer." Nevertheless, Cardano is still in its infancy.

• It has surpassed Ethereum in adopting the PoS consensus architecture, but it still has a ways to go in terms of DeFi applications.

• By creating DeFi products that are comparable to Ethereum's and offering solutions for chain interoperability, voter fraud, and legal contract tracing, among other things, Cardano intends to become the world's financial operating system.

5. Solana

Solana is a blockchain platform created in 2017 and intended to facilitate decentralized applications (dApps). In comparison to Ethereum, it also has reduced transaction fees. Solana is the ninth-largest cryptocurrency by market cap with a market worth of $12.8 billion and a price of about $38.

Key Features:

• Smart contracts, which are necessary for running cutting-edge applications like decentralized finance (DeFi) and non-fungible assets, are supported by Solana and Ethereum (NFTs). However, there are several key distinctions between the two.

• Solana, often known as an "Ethereum killer," processes far more transactions per second than Ethereum does.

• Proof of stake, which is considered to be less destructive than proof of work (PoW), is used by Solana.

• Solana is the name of the cryptocurrency that operates on the Solana blockchain (SOL). Its cost has significantly increased since it was first introduced.

6. Dogecoin

Some consider Dogecoin (DOGE) to be the first "memecoin," and in 2021 its price explosion caused a stir. Some significant businesses accept the coin, which has a Shiba Inu image as its avatar, as payment. Billy Markus and Jackson Palmer, two software programmers, developed Dogecoin in 2013. According to reports, Markus and Palmer invented the coin as a joke in response to the irrational speculation in the cryptocurrency market.

Key Features:

• The market capitalization of Dogecoin was $19.2 billion as of July 8, 2022, and one DOGE was worth approximately $0.07, ranking it as the tenth-largest cryptocurrency.

• According to the long-term investment estimates for Dogecoin, the meme coin will cost more than $1 by December 2022.

7. Polkadot

A distinct PoS coin called Polkadot (DOT) aims to foster interoperability between different blockchains. Gavin Wood, one of the original Ethereum project founders who had different ideas about the project's future, developed Polkadot.

Polkadot differs from Ethereum in that developers can create their own blockchains while utilizing the security that Polkadot's chain already provides, as opposed to only developing dApps on Polkadot. Because the larger a blockchain is, the more security it has, developers using Ethereum can establish new blockchains, but they must also create their own security mechanisms. This leaves new and smaller projects vulnerable to attack. In Polkadot, this idea is referred to as shared security. Polkadot's market value was approximately $6.9 billion as of July 8, 2022, and one DOT traded for $7.12.

Key Features:

• Its protocol is made to link oracles and blockchains with and without authorization, enabling systems to collaborate under one roof.

• The relay chain, which permits the interoperability of various networks, is the fundamental element of Polkadot.

• Additionally, it enables parachains, which are alternative blockchains with their own native coins for particular use cases.

8. Lucky Block

After the presale for Lucky Block sold out early in January 2022, there was a 65x bull run. LBLOCK's pricing at the first stage of its presale, a private sale, was $0.0015. It reached $0.0097 on the day it was listed on the LBank exchange, its maiden CEX listing, one month later. One of the quickest increases by any cryptocurrency to a market capitalization of $1 billion fully diluted was made by LBLOCK during its bull run.

Even though LBLOCK is still up 7x from its presale price, the roughly 6500% bull cycle has already largely corrected throughout the length of the 2022 bear market.

Key Features:

• In 2022, Lucky Block added more CEX listings, including the MEXC market, which opened on August 1. A Gate.io listing, anticipated for September 1st, is the following item in its roadmap.

• By being listed on three CEXes in addition to its other platform, PancakeSwap DEX, LBLOCK may be able to retest its previous record high.

• A cryptocurrency project that is making progress on its vision, like LBLOCK, which recently updated to its V2 token standard, is another driver of growth.

• It now has a low market cap of $40 million, which makes it easier for low-cap currencies to pump with the smallest buying volume.

9. DeFi Coin

After its initial dex offering on PancakeSwap in July 2021, DeFi Coin went on a 40x bull run from its presale price of $0.10 to $4 when it was listed on its first CEX, Bitmart. DeFi Coin has retracted 97.5% back to $0.10, making it feasible to purchase it at its pre-sale price once again. DEFC offers a different strategy to increase wealth, but its performance over the past year has not been stellar: by staking for a high annual percentage yield (APY).

Key Features:

• On DeFi Swap, the project's own decentralized exchange, DEFC can be staked for up to 75% APY.

• The annualized yield gains achievable with cryptocurrencies are far higher than the interest rates of conventional bank accounts.

• DeFi staking systems, which produce the income in a different method than centralized loan platforms and went bankrupt in 2022 like Celsius and Voyager, were unaffected.

10. FTX Token

The native currency of FTX exchange, similar to BNB, is FTX Token, which has been in a solid bull trend versus Bitcoin since late 2019. Sam Bankman-Fried, the CEO of FTX, is one of the world's youngest billionaires, with a 2021 Forbes valuation of $22.5 billion.

Key Features:

• On the trading platform, FTT holders enjoy a fee discount, and individuals who stake FTT may even be eligible for a maker rebate when trading futures on derivatives pairs.

• The CEO of FTX, known as SBF, is also transforming it into the "Amazon of crypto" by acquiring assets from businesses like BlockFi and Voyager that failed during the 2022 bad market. FTT also ended a solid green candle when word of the purchases was first reported.

• On the basis of SBF's wealth, success, and having his fingers in so many pies throughout the cryptocurrency markets at this time, investors now view FTT as a safe haven asset and are bullish in the long term.

11. Uniswap

Uniswap is the next top cryptocurrency to think about. Uniswap is mostly known for its well-known decentralized exchange, which enables users to purchase and sell virtual currencies without the need for a centralized intermediary. Since then, as a result of its popularity, Uniswap has amassed a market value that, as of early 2022, exceeded $5.70 billion.

Key Features:

• Since then, Uniswap has broadened its business strategy by developing an online market in connection with NFTs and the metaverse. This will not only make trading in cryptocurrencies more immersive but by making its marketplace available over the Uniswap network, buyers and sellers will be able to conduct business decentralized.

• Uniswap price forecasts indicate that in 2022, the coin will cost $18 per token. The token now reflects a nearly 60% price reduction on the original purchase.

12. Terra

Terra was one of the top ten cryptocurrencies to buy in 2022. (LUNA). One of the most well-known blockchain projects is this one. Terra aims to facilitate globally consistent prices for payments. It is essentially a blockchain protocol made with stablecoins in mind, which are used to power a variety of cryptocurrencies and financial apps.

Key Features:

• The US dollar-pegged token price is maintained via Terra's next-generation stablecoin technology through variable issuance.

• Terra, in contrast to most DeFi protocols, is based on Cosmos rather than Ethereum. Naturally, there are some practical advantages of Cosmos over Ethereum, such as quicker transactions and cheaper transaction costs.

• Purchasing Terra may be a very transportable decision. Investors that held off until a few weeks ago and made their investments, in the beginning, must have made a killing. For instance, Terra's price increased by more than 16,700% to $108 between January 2021, when it was less than $1, and the end of March 2022.

• Due to the market inflation of LUNA supply coins in May 2022, the price of Terra fell dramatically. The cryptocurrency is anticipated to stabilize and possibly restart growth.

• According to Terra's price forecasts, it is currently a solid investment choice; in 2022, the currency is predicted to climb by more than 300%.

13. Avalanche

Avalanche is a platform for decentralized apps that supports open, programmable intelligent contracts. The platform can alternatively be thought of as a layer one blockchain for private blockchain networks and decentralized applications (DApps). It is functionally comparable to Ethereum. But it has distinct qualities and features that make it a special and useful bitcoin platform.

Key Features:

• Avalanche, like other Ethereum competitors, wants to dominate the smart contract blockchain market.

• Particularly when compared to older blockchains like Bitcoin and Ethereum, it offers much-enhanced scalability.

• It has a number of benefits, including the capacity to handle up to 6500 transactions per second without sacrificing scalability.

• Avalanche investing has the potential to be quite lucrative. Many people who invested in AVAX have profited greatly. For instance, the cost of AVAX increased by more than 2,200% from $4.13 to $98.58 between July 2020 and April 2022.

14. Litecoin

Charlie Lee, a former software developer for cryptocurrency exchange Coinbase, invented the open-source blockchain project Litecoin (LTC), which was introduced in 2011. It was among the first digital currencies whose code was a copy of Bitcoin's. Despite similarities to Bitcoin, it is designed to have a quicker confirmation time for transactions.

Key Features:

• It can be used as a method of direct payment to anyone anywhere in the world.

• The term "silver to Bitcoin's gold" is widely used to describe LTC.

• The overall round-off supply of Litecoin is 84 million coins. It reached an all-time high of $413.47 in May 2021 but then fell by more than 50%.

• The number of businesses accepting Litecoin is rising. It ranks as the 21st largest cryptocurrency in the world with a per-token value of roughly $106.

15. Polygon

A layer 2 solutions aggregator for Ethereum is called Polygon. Performance is enhanced with layer 2 solutions, which effectively sit on top of the original blockchain. This can lower gas costs and hasten transaction processing in the case of Ethereum. Put this coin on your watchlist for 2022.

Key Features:

• On the Ethereum network, Polygon provides a significant solution to a problem that many traders and developers face.

• According to Ethereum's creator Vitalik Buterin, layer 2s will continue to be essential for scalability and interoperability even after the Eth2 upgrade is finished.

• The Sandbox (SAND) and Decentraland (MANA), two significant metaverse tokens, have already partnered with Polygon.

Things to Consider While Investing in Crypto

• Depending on how recent a cryptocurrency is, presales and ICOs at the lowest price points offer the biggest potential for initial gains.

• How popular an asset class is—metaverse cryptocurrencies have maintained their popularity after their 2021 "metaverse summer" run-up

• Crossover with other industries: Fantasy sports and gaming have broad appeal and connect nicely to blockchain and cryptocurrencies.

• Performance during a weak market: According to DappRadar's on-chain measurements, metaverse currencies maintained their value till 2022.

• Performance in a bull market - At the height of a bull cycle, meme coins are the most popular among mainstream retail investors.

• Utility: A use case that encourages long-term sustainable growth, such as playing to earn rewards, provides holders with a reason not to sell.

• Staking, which allows users to stake cryptocurrency tokens for a high annual percentage yield, also lessens selling pressure and offers a backup source of growth.

• The finest cryptocurrencies that have endured the test of time should continue to increase, as the entire market capitalization of cryptocurrencies is still small in comparison to commodities like gold.

• Performance in comparison to Bitcoin: If altcoins perform worse than BTC, even if their USD value increases over time, their investors would have been better off owning Bitcoin.

• Being backed by gold or having connections to billionaires, exchanges, crypto venture capitalists, etc., boosts investor confidence.

• Liquidity - having several exchange listings or impending CEX listings - gives a crypto asset more room for growth.

Conclusion:

There are numerous factors that can lead to a cryptocurrency that grows quickly; the best possibility of rapid but sustainable growth is found by investing in a variety of solid assets that satisfy several of the aforementioned criteria.

Remember to take profit by scaling out of a position carefully as PnL gains only exist on paper until they are realized. Cryptocurrencies that have quick impulsive runs to the upside without creating support, can crash just as swiftly.

FAQs

What Are Cryptocurrencies?

In a broad sense, a cryptocurrency is described as a virtual or digital currency that appears as tokens or "coins." Even though some cryptocurrencies have made their way into the real world through credit cards or other initiatives, the vast majority are still only digital.

Cryptography is a complex field of study that enables the creation and processing of digital currencies as well as their transactions across decentralized systems. Along with this crucial "crypto" aspect, there is a shared dedication to decentralization. Teams often create cryptocurrencies as code, adding mechanisms for issuance (often, but not always, through a process called mining) and other regulations.

Why Are Cryptocurrencies Essential?

Blockchain-based cryptocurrencies enable people to conduct peer-to-peer financial transactions or sign contracts because they are decentralized platforms. No trustworthy third-party mediator, such as a bank, monetary authority, court, or judge, is required in any scenario. This might upend the current financial system and democratize finance. The size of the cryptocurrency market has increased dramatically over the past ten years, thanks to new developments and a market valuation of more than $948 billion.

Why Do Cryptocurrencies Exist In Such Abundance?

The majority of cryptocurrencies in use today have some connection to Bitcoin, which has a censorship-resistant architecture and open-source code. This implies that anyone can duplicate the code, make changes, and produce their own unique coin.

What Characteristics Make A Cryptocurrency Expand Quickly?

The altcoin Axie Infinity throughout the course of 2021, or more recently ApeCoin and STEPN (GMT) - before they both retraced - might be an example of a rapidly expanding cryptocurrency. Or perhaps a presale is drawing a lot of interest from investors.

How can One Predict Which Cryptocurrencies will Experience Significant Growth?

This calls for a thorough investigation of current trends, whether they pertain to gaming cryptocurrency coins, NFT and metaverse-related assets, DeFi coins (see the explosive "DeFi summer" of 2021), etc. Additionally, it's crucial to invest as soon as you can, perhaps at the discounted rate provided during a presale period.