There are over 2,000 cryptocurrencies and more are popping up every other day. However, only a handful of these is notable. These are the cryptocurrencies that are close to achieving the ultimate goals of the crypto industry. Ideally, these are also the best performing crypto coins that have registered the highest growth over the recent past.
Here is a review of the top 5 fastest growing crypto coins, based primarily on their price and popularity on the markets.
Best crypto coin so far: Bitcoin (BTC)
Bitcoin has long become the face of the cryptocurrency industry. It has also proven to be the cryptocurrency anchor. For example, consider the recent developments, where a fall in Bitcoin’s price has led to a turmoil in the entire crypto market.
Bitcoin was launched in 2009 with the primary goal of providing an alternative to fiat currencies. However, it was not traded publicly until 2010. Its initial price was USD 0.03 and its highest one for that year was just USD 0.39. After its launch, Bitcoin went mostly unnoticed until 2014, when the idea of cryptocurrencies gained more popularity with the broader public. Bitcoin’s prices started rising on a low note in 2015 and quickly accelerated through 2016 to 2017 and the better half of 2018, until its most recent dive in the middle of November 2018.
Bitcoin’s highest price since its launch was at the USD 19’783 mark – this was back in December of 2017. However, the coin’s price has been dropping since then. It seemed to have settled at slightly above USD 6’000 in June but as mentioned, prices have recently dipped to below USD 4’500. Analysts predict even worse times ahead, as the current bear run is expected to persist in 2019 and well into 2020. Should this happen, the turmoil in the general crypto markets will only get worse. However, there is also optimism that prices will rebound or, at the very least, stabilize. After all, Bitcoin’s market value as of April 2018 was USD 163 billion – the biggest on the entire crypto market by far.
Second place goes to Ether (ETH)
Ethereum (aka Ether) is the next big contender after Bitcoin. It was launched in 2014 but was not utilized publicly until 2015. It is basically a global computer that runs on thousands of computer nodes across the world. It was launched with the goal of providing the ideal platform for users to build decentralized applications.
Ether was priced slightly above USD 1 during its launch in 2015. Like Bitcoin, ETH had a rocky start and its prices often dipped way below the dollar. However, its future started looking brighter in 2016. Ethereum quickly got appreciated in 2017 and it has had a good standing at the start of 2018 as well. Ether’s highest price since it was launched was over USD 1’200 in February 2018. It is, however, worth mentioning that this coin’s price is very volatile and seems to have been significantly impacted by the recent drop in Bitcoin prices.
Interestingly, analysts predict that Ethereum will surpass Bitcoin in popularity and usage as it is becoming increasingly popular with users seeking to start their own decentralized applications – there are more and more coins built on the ERC 20 (Ethereum) platform. When it comes to the transaction speed, it is also many times faster than that of Bitcoin. Thus, Ether can be used for more than just money transfer services.
All in all, it is safe to say that Ether’s future is bright. Ether is currently priced at USD 136. Its market value as of April 2018 was USD 70 billion.
Ripple (XRP) makes it to the best crypto coin pedestal
Ripple is a currency exchange, remittance, and Real-Time Gross Settlement (RTGS) network. It was launched in 2012 as a new version of RipplePay.
Ripple was first traded publicly in 2013. At that point, its price was about USD 0.01 and stayed well below the USD 0.1 mark until 2017, when the cryptocurrency boom happened. Ripple saw a slight but rapid increase in its value in 2017 and enjoyed a relatively stable run until 2018. Its prices shot up in January of 2018, following rumors that the coin would be listed on Coinbase, a major cryptocurrency exchange platform. However, the rumors were shot down, causing the coin’s price to fall.
Ripple’s price is now stable in spite of the ongoing turmoil. It is also expected to perform positively going ahead thanks to its flexibility, security, and fast transaction speeds – faster than Bitcoin and Ethereum. Currently, Ripple is priced at about USD 0.4. Its market value as of April 2018 was USD 32 billion.
An unstable one among top crypto coins: Bitcoin Cash (BCH)
Bitcoin Cash was created out of a hard fork of Bitcoin in a bid to overcome some of the inefficiencies of the latter. The main strength of Bitcoin Cash is its speed – it enables the creation of larger blocks capable of facilitating more transaction per second compared to Bitcoin. It also overcomes the issue of scalability.
Bitcoin Cash is relatively new, having been launched in August 2017. It was originally valued at about USD 550, but this figure reduced slightly over the next few months. BCH’s highest value since its launch was about USD 4’100 in December 2017. However, Bitcoin Cash’s price has dipped significantly and exhibited a lot of volatility since then.
Regardless, there is still optimism that its value will stabilize. Bitcoin Cash is currently priced at about USD 220, while its overall market value as of April 2018 was about USD 19 billion.
Litecoin (LTC) may make it higher up the list of best crypto coins
Litecoin was modeled after Bitcoin – it is essentially an altcoin. It was also designed to overcome some of Bitcoin’s weaknesses. For instance, it processes transactions four times faster than Bitcoin. It is also easier to mine, which ensures that Litecoin’s circulation is steady and will increase steadily over time.
LTC was launched in 2011 but was first traded in 2013. Its initial price was USD 4.30, which was better than average at the time. The coin enjoyed stability for some time and saw a notable appreciation in value in 2014 before prices returned to previous lows. In 2017, following the crypto craze, Litecoin’s price started rising steadily and reached an all-time high of over USD 310 in December 2017.
At the time of writing this article, Litecoin is priced at about USD 33 and had an overall market value of about USD 10 billion in April 2018.
The top coins might change
Above were the five biggest and fastest growing crypto coins based on value appreciation, volume, and popularity, among other factors. However, the tables are always turning considering how volatile the crypto markets are. As such, it is prudent to always be on the lookout for developments. Who knows, maybe a new coin is going to change the game completely? Meanwhile, read our article on top cryptocurrency exchanges.