In recent times, the cryptocurrency space has experienced exponential growth. This year, the cryptocurrency market has rapidly experienced some uptrend movement severally. Due to the invention of multiple cryptocurrencies in the market, crypto traders, investors, and enthusiasts are bamboozled to know the best coin that has the fast potential for fast growth.
Knowing fast-growing cryptocurrency in the crypto market can be difficult sometimes, most especially due to factors influencing the market such as; market sentiments, volatility, technological advancements, etc. Well, emphases on some of the coins that have been making good moves in the market will be made in this article.
1. Bitcoin ($BTC):
Bitcoin is the most popular and famous cryptocurrency. It is often known to be the first cryptocurrency ever created by Satoshi Nakamoto in 2009. It uses a technology known as “blockchain”. This technology works in a network based on decentralization to safeguard peer-to-peer transactions. Bitcoin has three important well-known features that distinguish it from other cryptocurrencies. These features are; its value increment, the use of a decentralization network, and its scarcity.
2. Ethereum ($ETH):
New crypto coins and decentralized applications can be created using Ethereum on its network. Ethereum brought about the idea of smart contracts which plays a vital role in the crypto industry. Ether is the native token of the Ethereum network. Ethereum has a flexible nature, and as a result of that; it has gained much attention in recent years and much adoption from different investors across the world.
3. Binance Coin ($BNB):
Binance is one of the biggest centralized exchanges, performing multipurpose tasks such as; serving as a trading platform, serving as a wallet platform, a launchpad platform, etc. Binance coin ($BNB) is the native coin of $BNB. This native coin has various uses in the Binance ecosystem or network, these uses include; using $BNB coin to participate in token sales on the Binance launchpad, it is used to give lower trading commissions and more. Binance coin has an important use case that can be used in a decentralized application for decentralized finance (DEFI) activities in the smart chain network, also it enables transactions on cross-chain.
4. Cardano ($ADA):
The Cardano network has a native token called ($ADA). It enables the creation of smart contracts and decentralized applications due to the possession of blockchain technology and its flexibility. It distinguishes itself by prioritizing durability and applying scientific methods, and peer-reviewed research.
5. Solana ($SOL):
Solana is created to assist projects that are developed on decentralized applications (DAPPs) and decentralized Finance (DEFI). However, it is a blockchain platform that helps to execute transactions in a fast and less expensive manner. For staking, investing, or performing other transactions on the Solana ecosystem, $SOL was created as its native token.
6. Litcoin ($LIT):
Most times, Litcoin is called “Bitcoin Gold”. It was among the first set of cryptocurrencies that was created after the invention of Bitcoin and as that, it has some comparable to it. Due to its rapid block generation times and several hashing algorithms, Litcoin is enticing for regular usage and for carrying out fewer transactions every day.
7. Polkadot ($DOT):
Polkadot is used as a governance and bonding token and it has a native coin called $DOT. This is a multi-chain platform that makes it feasible for numerous blockchains to communicate with one another. It strives to build a network that is decentralized and accessible that can render the transmission of data between several chains.
Summary
The crypto industry has been growing significantly and has experienced some tremendous growth this year. Ethereum and Bitcoin are the kings in the crypto industry but other little currencies like Litcoin, Cardano, Solana, Bnd, and Polkadot have attracted some traders and investors.
Although, some cryptocurrencies might be growing swiftly due to the extreme volatility of the cryptocurrency market. Always conduct research before making any investments in cryptocurrencies because of unforeseen factors influencing them.
