2024 has been a tremendous year for the cryptocurrency market so far as the introduction of Bitcoin ETFs in the United States has ignited positive sentiment that has benefited practically the entire crypto market.
We are showcasing the fastest growing cryptocurrency assets in 2024 to help you identify which coins and tokens have been displaying the strongest price growth in 2024 so far.
Here are the fastest growing cryptocurrencies in 2024:
Aerodrome Finance (AERO)
Dogwifhat (WIF)
ArcBlock (ABT)
Mantra (OM)
Pepe (PEPE)
The fastest growing cryptos in 2024
Before we continue with our list of the fastest growing crypto in 2024, we should clarify that this article only focuses on tokens and coins that were already available on the market as of January 1, 2024. We didn’t include crypto assets that have been launched since then. In addition, we only selected among the 200 largest cryptocurrencies by market capitalization.
1. Aerodrome Finance
Ticker: AERO
Market cap: $476 million
Year-to-date growth: +2,005%
*As of May 8, 2024
Aerodrome Finance is an AMM (automated market maker) that is built to function as the central liquidity hub of Base, an Ethereum-based layer 2 blockchain launched by the Coinbase cryptocurrency exchange. Aerodrome distinguishes itself with liquidity incentives, a vote-lock governance model, and smooth UX.
Liquidity providers on Aerodrome receive AERO token rewards with each epoch, based on the votes accumulated by the pools they’re providing liquidity to. AERO holders can lock their tokens to vote on how rewards are distributed. Voters are rewarded with trading fees collected by the Aerodrome protocol.
The Aerodrome ecosystem features two tokens: AERO and veAERO. AERO uses the ERC-20 standard, and is designed to function as the protocol’s utility token. Meanwhile, veAERO (which represents locked AERO tokens) uses the ERC-721 standard and enables participation in protocol governance.
Although it launched already in the third quarter of 2023, AERO has seen a massive growth spike in 2024, embarking on a powerful rally starting in late February. At the time of writing this article, the token is displaying a market-leading +2,005% year-to-date performance.
2. Dogwifhat
Ticker: WIF
Market cap: $2.89 billion
Year-to-date growth: +1,471%
*As of May 8, 2024
Dogwifhat is a meme coin that debuted on the Solana blockchain in November 2023, tapping into the burgeoning excitement within the Solana ecosystem sparked by SOL's significant rally that year.
Similarly to what we’re seeing with other successful meme coins, Dogwifhat is characterized by its simplicity—there is no defined utility or roadmap for the token. Dogwifhat’s branding centers around a single image of a dog donning a hat, which is creatively altered to generate various meme iterations.
The project often references niche internet memes and satirizes the speculative trading and high-risk behavior that’s common in the cryptocurrency markets.
3. ArcBlock
Ticker: ABT
Market cap: $299 million
Year-to-date growth: +1,447%
*As of May 8, 2024
ArcBlock is a project that aims to streamline the development of DApps (decentralized applications) to support the mass adoption of blockchain technology. Applications deployed on ArcBlock are called Blocklets, and users can discover and access various Blocklets through the BlockLet Store, which is ArcBlock’s version of the App Store.
The ArcBlock platform is home to a number of applications such as a DID (digital identity) and verifiable credentials, an AI-powered NFT studio, a suite of tools for content creators, and more.
In 2024 so far, ArcBlock’s native token ABT has seen a truly impressive price surge, which has allowed the token to reach new all-time highs. At the time of writing, ABT is up nearly 1,500% on a year-to-date basis. This year’s ABT rally is particularly impressive given that the token has been on the market since 2018.
With a market capitalization of $299 million, ABT is the smallest crypto asset on our list. Combined with the fact that the token has seen extreme growth in 2024 so far, investors should proceed with caution as a significant price correction could be in the cards for ABT. Still, it’s worth keeping an eye on ABT to see if the token can sustain its momentum or at least find a somewhat stable price range.
4. Mantra
Ticker: OM
Market cap: $361 million
Year-to-date growth: 1,195%
*As of May 8, 2024
Mantra is building a blockchain in the Cosmos ecosystem that is specialized for the regulated tokenization of real-world assets (RWA).
Mantra is specifically designed to enable Web3 applications on a blockchain architecture that is not only high-performing and scalable but also supports the development of regulated, compliant, and permissioned applications. It offers a toolkit that includes on-chain identification and permissioned access to products to ensure security and compliance.
Additionally, Mantra provides essential connectivity to the traditional fiat and banking sectors through integrated on/off ramps, bridging the gap between decentralized networks and conventional financial systems. This makes it an ideal platform for developers looking to innovate within regulated frameworks while leveraging the benefits of blockchain technology.
Mantra’s native token OM has been on a tear as of late, gaining about 1,200% since the start of 2024. After stagnating for the vast majority of 2023, OM has been setting new all-time highs in 2024, surpassing the peaks it previously set in 2021.
5. Pepe
Ticker: PEPE
Market cap: $3.29 billion
Year-to-date growth: +483%
*As of May 8, 2024
Pepe is a meme coin that made a large impact on the cryptocurrency market in 2023, when it displayed a massive surge in price despite the rest of the cryptocurrency market moving sideways. Pepe was almost single-handedly responsible for kickstarting a new wave of meme coins, which weren’t seeing a lot of attention until Pepe’s launch.
The Pepe project has not concerned itself with introducing new features or products. It's important to note, however, that PEPE was never promoted as a utility token. The team has been transparent about PEPE's status as a "useless" meme token right from the outset.
Despite this, Pepe has established itself as one of the leaders in the meme coin sector, and is currently the third-largest meme coin by market cap (behind only Dogecoin and Shiba Inu). In 2024, PEPE has been displaying positive price action, thanks to the market’s favorable sentiment towards meme coins in general.
The bottom line
The cryptocurrency markets are known for their volatility and unpredictability, so you shouldn’t be too surprised if some of the cryptocurrencies that have displayed the biggest growth in 2024 so far are among the market’s worst performers in the second half of the year.
Still, all of the coins and tokens that have shown rapid price growth since the start of the year are worth watching closely, as they will undoubtedly display plenty of volatility, which can lead to compelling trade opportunities.
If you’re interested in exploring additional opportunities in the cryptocurrency markets, make sure to take a look at our list of the best crypto to buy right now.
