The 4 Fastest Growing Cryptocurrencies in 2024!
1. Solana (SOL)
Solana is perhaps the fastest growing cryptocurrency, offering over 20,000% returns to early investors. The hype around SOL is not just based on celebrity endorsements, but the token solves a huge problem.
It offers high transaction speeds at low costs. Investors use SOL to pay transaction fees on the network and enjoy smart contracts. Solana is an expanding project as it aims to improve the scalability of blockchain.
By using proof-of-stake and proof-of-history technology. Solana plans to develop its network to process over 60,000 transactions per second. The fees for using the Solana network are just a few cents.
Investors who purchase Bitcoin may incur over $50 in fees and wait for hours for the transfer to reflect, depending on network usage and other factors. The main advantage of using Solana is that investors can enjoy fast, affordable, and scalable transactions.
2. MANA
Decentraland’s mission is to build the first user-owned virtual world ever. After joining this game, players can explore the land divided into 90,000 plots, traversing fascinating landscapes and buildings.
The game enables players to acquire more land using the platform's native token MANA. Players can also use the builder tool to create scenes, artwork, and challenges - and even charge other players for it.
A major attraction of this NFT game is that a decentralized autonomous organization (DAO) manages its policies, dictating how the platform operates, and demand for Decentraland packages has increased dramatically in 2021.
3. Ripple (XRP)
Ripple is a San Francisco-based fintech company dedicated to providing effective payment solutions to users around the world. XRP is its native token, which aims to help people receive payments efficiently and at low cost.
It manages to provide both, as XRP transactions only take seconds to reflect on the other side of the world and cost a few cents. Ripple's goal of enabling peer-to-peer transactions has been achieved, but it has set its sights on large companies.
The obstacle to the price of XRP is the ongoing litigation between XRP and the U.S. Securities and Exchange Commission (SEC) - the SEC is suing XRP for selling unregistered securities and claims that XRP is a security.
But XRP’s support from the military led to a massive price increase, bringing more than 1,300% returns to investors who bought the token in March 2020 and held it until April 2021. This rally proves that even lawsuits can’t stop XRP’s price from rising.
4. SAND
Another Metaverse game that has made a lot of noise in the NFT community is The Sandbox. This crypto game enables players to monetize their plots of land and use avatars to bring their NFT collections to life.
Owning land enables players to build experiences, host events, and invite friends. They can also increase the value of the land by adding infrastructure and then selling it for profit. Players need to own SAND to buy and sell assets and land in the Metaverse.