Most small investors tend to buy when the market is doing well. This means that by the time they find out the answer to the question “What cryptocurrency is growing the fastest?”, The price of dogecoin went through the roof in May 2021, when Elon Musk was on Saturday Night Live. Then, in October, there were Shiba Inus, and so on.
Battle Infinity’s (IBAT) pre-sale was a huge success, and all of the games sold out.
When talking about cryptocurrency and trading in general, “Buy low and sell high” is probably the advice that comes up most often. First, a coin’s price needs to be low to have a chance of becoming the cryptocurrency with the fastest growth rate. The price of nothing can keep going up in a straight line forever. Check out US cut tax on 50 crypto if you are interested in investing in cryptocurrencies or trading them.
Cryptocurrency is a type of asset with strong trends in both directions, like bull and bear cycles. These cycles start with prices that are very high and then have a long drop, or “dump,” to get back to levels that have been stable in the past. Since 1957, the S&P 500 has grown slowly but steadily at an average rate of 10.5% per year, which is slower than the stock market.
Lucky Block
After the presale of Lucky Block was completely sold out at the start of January 2022, the cryptocurrency had a 65x bull run. LBLOCK sold for $0.0015 during the first part of its private presale when it was first made available.
After another month, it reached $0.0097 on the day it was first listed on the LBank exchange, the exchange before the CEX. When all coins were considered, the LBLOCK bull run was one of the fastest gains of any cryptocurrency to reach a market value of $1 billion.
DeFi Coin
When it came out on its first CEX, Bitmart, in July 2021, after its first dex offering on PancakeSwap, its price went from $0.10 to $4.The price of DeFi Coin has dropped to $0.10, the lowest it has been since the auction began. This means you can now buy it at its price before it sells.
Ethereum (ETH)
Ethereum has grown at one of the fastest rates compared to other cryptocurrencies and financial assets over the past eight years. It was worth about $1,500 in the middle of 2022.
Importantly, it has made a strong comeback and gone back above its all-time high on the high time-frame chart. This shows that it is still going up over the long term (monthly).
As has already been said, cryptocurrencies can grow quickly, then lose all their gains and go on a downward trend that can last for years. After a big pump, some alternative cryptocurrencies can fail entirely and never return.
BNB Coin
Binance Coin has grown faster than Bitcoin compared to other cryptocurrencies. Binance Coin is the exchange’s token. Binance Exchange has more trades than any other cryptocurrency exchange in the world.
FTX Token
The FTX Token is the exchange’s native currency. It has been going up strongly against Bitcoin since late 2019. It’s kind of like BNB in this way.
Those who hold FTT are eligible for a fee reduction on the trading platform. Those who stake FTT may also be eligible for a maker rebate when futures trading is done on derivatives pairs.
Sam Bankman-Fried, the CEO of FTX, is one of the world’s youngest billionaires. Forbes thought that he was worth $22.5 billion in 2021.
He goes by the name SBF and is also trying to make FTX the “Amazon of crypto” by buying assets from companies like Voyager and BlockFi that went out of business during the weak market of 2022. FTT also ended the day with a strong green candle when people found out about these purchases.
Conclusion
If you invest in a wide range of solid assets that meet many of the above criteria, you have the best chance of both fast growth and growth. This is because there are a lot of things that can quickly make a coin’s price go up.
Remember to take profit by getting out of a position slowly since PnL gains don’t exist until they are realised. If the price of a cryptocurrency goes up quickly for no reason, without building support, the price could go up or down.
