Cryptocurrencies have become increasingly popular, with thousands of people looking to cash in on the moving train. This is seen by the rising number of investors in the cryptocurrency market.
There are so many cryptocurrencies out there, it is crucial to invest in the right ones.
Let’s take a look at the top 10 cryptocurrencies that saw the most increase in value in 2022.
1. Bitcoin: the best of fastest growing cryptocurrencies
Market cap: over $439 billion.
Without question, Bitcoin is at the top of the list. It has grown significantly since the day it was introduced.
It boasts the highest market capitalisation and is widely regarded as the best. As Bitcoin has gained popularity, its price has risen. Approximately $449 was spent on a Bitcoin in May 2016. The cost of a single Bitcoin was over $22,000 as of August 1, 2022.
2. Ethereum: the second of fastest growing cryptocurrencies
Market cap: over $196 billion.
Without a doubt, Ethereum, the second-largest cryptocurrency, will follow suit. One of the main justifications for why investing in Ethereum is worthwhile is due to its various possible uses, especially the smart contracts that automatically execute when certain circumstances are satisfied.
Ethereum has also grown incredibly fast. From roughly $9 to more than $1,657 between April 2016 and August 2022, its price increased.
3. Polkadot: the third of fastest growing cryptocurrencies
Market cap: over $9 billion.
Several applications are being developed on the Polkadot ecosystem because of its inherent capacity to integrate all diversified blockchain networks easily.
Its price increased from $2.61 to $8.38 between September 2020 and August 1, 2022.
4. Cardano: the fourth of fastest growing cryptocurrencies
Market cap: over $15 billion.
Cardano has had amazing growth over time. Less transaction time and energy use are the two main factors responsible for its growth. This is sufficient evidence of the potential that this altcoin has and of the benefits of investing in it.
Compared to other significant crypto coins, the growth of the Cardano ADA token has been somewhat muted. The cost of ADA was roughly 1.5p in 2017. On August 1st, 2022, it cost roughly 41p.
5. Solana: the fifth of fastest growing cryptocurrencies
Market cap: over $19 billion.
Solana has become well-known for its operations all around the world. It uses a combination of proof-of-stake and proof-of-history procedures and has successfully provided investors with enormous rewards. Solana has you covered, whether it’s decentralised finance (DeFi), decentralised apps (DApps), or smart contracts.
SOL’s pricing started at $0.67 when it debuted in 2020. Its price was about $41.28 as of August 1, 2022.