Cryptocurrencies news

As this year has shown, some new cryptocurrencies have exceeded expectations. If you had invested $1,000 at the beginning of the year in any of the digital currencies on this list, you could now sell it for more than $6,000.

In first place is Axie Infinity cryptocurrency, whose growth exceeded 22,000 percent

The popularity of this cryptocurrency is due to the fact that it is the first NFT-enabled cryptocurrency with a capitalization of over a billion dollars. For residents of Asian and South American countries, it has become a good source of income amid the lack of work and the decline in income in the offline sector to be caused by the global pandemic.

The sphere of online games has been the impetus for the development of other cytokines, where each collectible game item is a token, players can buy, produce, fight. But, unlike other games, these tokens can be sold in the real world.

In second place is the cryptocurrency Phantom, showing an increase of 16,000 percent

5 digital currencies showing growth of 5,000 percent or more this year

These cryptocurrencies are an alternative to the second most capitalized cryptocurrency, Etherium, and just like it have the ability to create smart contracts. They turn a list of blockchain blocks into something programmable. The popularity of the Phantom cryptocurrency is also due to the fact that Etherium now has quite high transaction fees and also the network is quite congested.

The main Phantom cryptocurrency network still attracts developers with great speed and low fees to this day.

The third place is occupied by Solana token with a growth of 13300 percent

This cryptocurrency is one of the alternative coins, a competitor of the cryptocurrency Etherium. What sets this cryptocurrency apart is its speed, with transaction processing rates exceeding 50,000 Last year, a collection of NFT tokens called Degenerate Apes was launched, which attracted a huge amount of finance from investors.

Polygon – called MATIC for short – showed growth of almost 9,000 percent

Whereas the previous two tokens are tier one blockchains , whose developers are creating new opportunities to solve the problems that Etherium has. Polygon is a second-tier token for Etherium, which means that developers are already being offered variations of solutions to problems and it is already them who choose the most appropriate ones for each of their projects.

Terra (LUNA) is ST, it is a coin whose value is tied to some currency, such as Terra dollars (UST) or Terra euro (EUT).

Terra uses a certain algorithm that allows it to maintain the value of coins thanks to software algorithms. If for example dollar will grow very well, then this token LUNA will produce more Terra dollar, which will cause the value of this cryptocurrency to decrease.

If the cryptocurrency has good growth potential, more and more Americans are buying cryptocurrency this year thanks to the news of good growth. It is no secret that all of these tokens that have been listed in this review can now be purchased on most cryptocurrency exchanges. However, one has to assume that if a particular coin has shown outstanding growth, it does not mean that such explosive growth will continue in the future. Before investing, carefully assess your risks, what the coin is backed by, and make an analysis of how this momentum will work in the long run.

Not all investors who invested in cryptocurrency got rich, people where losing much more often than earning. Moreover, this niche also attracts scammers, so be careful.

Also there are a lot of white spots, we can’t suppose yet, what kind of regulations can be applied and how the market will react to it. We assume that not all of the 13,000 cryptocurrencies will be a long-term success.

Sure, a return of 5,000 percent is more than tempting, but investors who expect to work in the long run should be more cautious.