Using crypto as a form of currency has become easier than ever before, but what makes one cryptocurrency different from another? What are the fastest-growing cryptocurrencies, and how do you know if they’re the right ones to invest in? Read on to learn more about the top nine fastest-growing cryptocurrencies and why they’re poised to become incredibly valuable in the future.
The best cryptocurrencies to invest in today aren’t necessarily the ones with the highest market caps or the most advanced technologies. Instead, they’re the currencies that have shown the most growth in recent months and years and will likely continue to grow at an even faster rate than many other virtual coins during 2022.
If you’re looking to take your cryptocurrency investing to the next level, want to find out which cryptocurrency is growing the fastest, or want to add some additional coins to your portfolio, these fast-growing cryptocurrencies are sure to be worth your attention.
What Are Cryptocurrencies?
A cryptocurrency is a digital form of currency created and stored electronically. No one controls it. Cryptocurrencies use encryption techniques to regulate peer-to-peer transactions between individuals and allow users to transfer funds anonymously.
There are over 1,000 different cryptocurrencies on today’s market that have been created using blockchain technology.
Here are some of the fastest-growing cryptocurrencies available right now.
Community-Run Ethereum (ETH)
Investing in cryptocurrency can seem intimidating at first, particularly when you’re trying to figure out which of the various offerings are worthwhile and which should be avoided. But one option that seems to be getting some attention lately is Ethereum.
This cryptocurrency was designed specifically with businesses in mind, helping them build applications on top of its blockchain technology through what it calls smart contracts. It’s an attractive idea—essentially, decentralized applications help make transactions more seamless and secure by eliminating much of what we now call middlemen or intermediaries, such as escrow agents or third-party oversight.
Also, Ethereum can be used to create unique tokens that represent anything from loyalty points to digital assets, which is why businesses like it. This flexibility has helped fuel the recent success of the platform, which is now the second-largest cryptocurrency by market capitalization.
Powerful investors seem to be taking notice as well. The price of Ethereum has grown steadily throughout 2020 and 2021, and experts believe it could continue to rise at an even faster rate in the coming months in 2022. In fact, some predict that Ethereum could increase in value by as much as 400% by the end of this year.
Of course, any investment comes with risk, and cryptocurrency is no different. But if you’re looking for an option that seems to be gaining traction in both the business and investment world, Ethereum may be worth a closer look.
Litecoin (LTC): The Nearly Identical Twin to Bitcoin
Launched in 2011, Litecoin is often referred to as the silver to Bitcoin’s gold. It was designed to improve upon Bitcoin by using a more efficient mining algorithm and has gained popularity for its fast transaction speeds.
In fact, Litecoin blocks are processed every 2.5 minutes – four times faster than Bitcoin! (Although it’s not among our top 3 fastest growing cryptocurrencies.) Currently trading at $116.1, Litecoin has a market cap of $3 billion – with plenty of room for growth.
There are less than 15 million Litecoins left to be mined. With such a limited supply and increased demand due to Litecoin’s popularity, it’s no wonder that experts are predicting a bright future for this cryptocurrency.
Litecoin is a great choice for anyone looking to invest in cryptocurrency. Its similarities to Bitcoin make it a reliable investment, while its faster transaction times could make it more appealing for day-to-day use. Whether you’re looking to invest or use cryptocurrency for payments, Litecoin is worth checking out.
Cardano (ADA): The Decentralized Public Blockchain
Cardano is a decentralized, open-source cryptocurrency and blockchain project. ADA promises more advanced features in its smart contract platform than any previous protocol.
This is the first blockchain platform to emerge from a scientific and research-centric approach. The development team consists of a large global collective of expert engineers and researchers.
The ADA project is now five years old and has already grown significantly. With a market capitalization of approximately $31.4 billion, it is currently the fifth-largest cryptocurrency. It has a strong community backing and a robust development team.
The platform is powered by the Ouroboros protocol, the first PoS protocol to be informed by scholarly academic research. Because of this, it is more scalable and secure than anything else available. Additionally, it has a unique governance model that allows decentralized decision-making.
It is one of the most promising projects in the cryptocurrency space, and it has a strong team, a clear roadmap, and is backed by a large community. It is well-positioned to become a major player in the industry.
Polkadot (DOT) Cryptocurrency: An Open Source Platform
Another crypto coin to watch in 2022 – Polkadot is a cryptocurrency that can be identified by its symbol DOT. It is listed on exchanges under the ticker symbol DOT. For those who aren’t familiar with DOT, here’s what you need to know about it.
Polkadot’s platform enables multiple blockchains to work together. It is a project of the Web3 Foundation, which was founded by Ethereum co-founder Dr. Gavin Wood.
It has been designed to address the scalability issues that have hindered the growth of blockchain technology. It does this by connecting different blockchains together to form a “network of networks.” This allows for increased scalability and interoperability between different blockchains.
The platform also allows users to carry out transactions through blockchain technology for two types of digital currencies. First off, these are tokens (similar to Ethereum), and secondly, these are chains that serve different purposes and run using different protocols.
It has the potential to become a major player in the cryptocurrency industry, is one of the most promising projects in the space, and is definitely one to watch in 2022.
Stellar Lumens (XLM)
Stellar Lumens (XLM) is one of many cryptocurrencies showing robust growth. Launched in 2014, Stellar’s value grew by 37.9% in 2017. Part of Stellar’s growth was driven by its close ties to IBM, but there are other reasons to be bullish on it: It has low fees and high scalability potential.
IBM is using XLM as a conduit for cross-border payments. That project was announced in October 2017, and further development should mean more liquidity and confidence in XLM, which should lead to increased adoption.
There are a couple of other potential use cases for Stellar. One is in the area of remittances, where it could help people send money back to their home countries more cheaply and quickly. Another is in initial coin offerings (ICOs), where it could be used to distribute tokens smoothly and efficiently.
The Stellar team is also strong. It’s led by Jed McCaleb, who founded eDonkey and was an early developer of Ripple. Stellar has the potential to become a top 10 cryptocurrency and is worth keeping an eye on.
Dogecoin (DOGE)
This is one of the top cryptocurrencies that is growing rapidly. It is based on the popular “doge” meme that features a Shiba Inu as its logo. Dogecoin was created by Jackson Palmer and Billy Markus in 2013 as an open-source digital currency. It has a fast transaction time and low fees, which makes it attractive for small transactions.
Dogecoin has a market capitalization of $2.63 billion and a circulating supply of 132.67 billion DOGE. The current price of Dogecoin is $0.131603 USD.
Tipping fellow internet users who create or share great content is one of the most popular uses of Dogecoin. It can be viewed as a more meaningful like or upvote with real value that can be used across the web.
Dogecoin is also popular for its philanthropic efforts. For example, the Dogecoin Foundation has raised funds for clean water projects in Kenya and Jamaica.
Elon Musk, the CEO of Tesla, has been a big supporter of Dogecoin. He has even tweeted about it several times. This has helped to raise awareness and drive up the price of Dogecoin.
The Binance Coin (BNB)
BNB is currently one of the fastest-growing cryptocurrencies by market capitalization. It has seen rapid growth in recent months and has been seeing a price increase almost every month since January 2021. Binance Coin can be used to pay discounted trading fees on the Binance exchange with the Binance Coin utility token. In addition to being able to pay for goods and services on Binance, it can also be used to make purchases.
The BNB is currently one of the fastest-growing cryptocurrencies. This is due to the increasing popularity of the Binance exchange and its associated ecosystem. For those looking to invest in a cryptocurrency that is growing rapidly, Binance Coin could be a good choice.
BNB allows traders to save on transaction fees when trading on Binance’s exchange for a limited amount of time.
The coin is used as a liquidity tool to reduce volatility and allow traders to hedge their positions. By holding 50% of all its profits in bitcoin, Binance is also subject to bitcoin’s price fluctuations as it represents 25% of Binance’s overall reserves.
Tether (USDT) Cryptocurrency
Tether is growing rapidly in the market. It is a stable coin that mirrors the price of the US Dollar. The company that issues USDT is based in Hong Kong. The peg of USDT to USD is achieved by maintaining a sum of commercial paper, fiduciary deposits, cash, reserve repo notes, and treasury bills in reserves, which equals the number of USDT in circulation.
It was launched in 2014 and has been quite popular in the market since then. In January 2015, it became available for trading on various exchanges. As of now, the market capitalization of Tether is $80,997,471,859 USD.
Tether is a coin created to facilitate transactions between different cryptocurrencies by linking them to real-world currencies such as dollars and euros.
It has a 4.09% market dominance which is quite high in the realm of cryptocurrency. It is popular because it offers stability in a volatile market. Also, it has low transaction fees as compared to other cryptocurrencies.
What makes Tether (USDT) so special?
The main use of Tether is that it allows fast and inexpensive transactions between different cryptocurrencies. Another advantage is that it provides stability in a volatile market. Also, it has low transaction fees as compared to other cryptocurrencies.
What is the future of Tether (USDT)?
The future of Tether looks quite bright. It has a huge market capitalization and is growing rapidly. Also, it has low transaction fees, which makes it quite attractive for investors.
(XMR): The Monero Cryptocurrency
Monero is a private, secure, and untraceable currency. Monero uses a unique ring signature technology, which makes it impossible to trace the transactions. This has made it a favorite among privacy-oriented users.
What is driving this growth?
One of the main reasons for Monero’s popularity is its focus on privacy and security. The relatively new coin, Monero, is one of the few cryptocurrencies that offer true anonymity. Despite its infancy, it has maintained a high level of popularity.
By using Monero, you become your own bank. Your accounts and transactions are kept safe from prying eyes only because you control and are responsible for your funds.
With Monero, there will be no corporate or government oversight of your financial affairs, so long as you take precautions to ensure that they cannot identify or track your sources or holdings.
Conclusion
In conclusion, cryptocurrencies are great investments, but it isn’t easy to find which ones are the best. That’s why we’ve researched which cryptocurrency is growing the fastest and outlined the top 9 that are experiencing the highest increase in their market and experiencing high investor interest. It’s important to know which ones to invest in, so this post will help you get started in making that decision.
Hopefully, our blog post has helped you with the decision of which currency is right for your portfolio.
