Cryptocurrencies are very volatile assets. They can increase your capital several times in just a few days, and leave you with almost nothing just as quickly. Many pay attention either only to bitcoin, or several other large altcoins, losing sight of some cryptocurrencies that have higher investment potential. After all, the largest cryptocurrencies have the largest capitalization, which is why they can not grow so rapidly in a short period of time. Although even Bitcoin can grow by 2 times in less than a month. Try to imagine what might be the potential for less liquid cryptocurrency.
In today’s review, we will tell you which cryptocurrencies have grown the most in 2020, and explain why.
A small disclaimer
Of course, we will not include all cryptocurrencies in this list, only those from the top 100 by capitalization. We will not consider illiquid cryptocurrencies, which, as a rule, can be pumped even by minor investors. Pump & Dump is a common scheme among speculators. It is an artificial rapid ”pumping” of the price, followed by the rapid “dumping” of coins. Some cryptocurrencies can grow by several thousand percent in a day. But if you invest in them, you can lose almost all your funds in a matter of hours. We will consider the growth rate since the beginning of the year, i.e. the sharp fall of the market in March is not a major factor. So, let’s find out which cryptocurrencies from the top 100 rose the most in price in the first half of 2020.
OKEx Coin (OKB) – 147%
The undisputed leader of our rating. OKB is a proprietary cryptocurrency from the major Maltese crypto exchange OKEx. The exchange imitates the well-known Binance platform in many ways. Even the visual design looks quite similar. Following the example of Binance, the creators of the OKEx crypto exchange also released their own cryptocurrency. However, its potential turned out to be greater, since Binance Coin (BNB) has already significantly increased in price, and the OKB token appeared much later.
In February, developers launched a test network for the cryptocurrency – OKChain. The developers also burned tokens, reducing the number of coins from 1 billion to 300 million.
Bitcoin SV (BSV) – 73%
Bitcoin SV is one of the Bitcoin Cash hard forks that appeared in late 2018 and preserved the original Satoshi Protocol, but the block size restriction was removed. Cryptocurrency allows you to keep unlimited scaling along the block chain.
BSV often follows Bitcoin when it starts to grow on a par with BCH. But it grows in price more sharply, because it has a much smaller capitalization, and even small investments can affect the exchange rate. Cryptocurrency is used in business, and the number of BSV transactions sometimes exceeds BTC.
Crypto.com Coin (CRO) – 61%
This is the second cryptocurrency from the Crypto.com company. Previously, they issued the MCO token, which is also in the top 100 cryptocurrencies by capitalization.
Service Crypto.com launched a large-scale marketing campaign where users can get 100% when purchasing a CRO token. In addition, CRO token holders can receive up to 18% per annum just for holding cryptocurrency in their wallet. This incentive system has become the main reason for the token price growth.
Dash Coin (DASH) – 58%
At the end of 2017, the cryptocurrency held almost the leading positions, but during the correction of the crypto market, its capitalization dropped significantly. And it seems that this year the cryptocurrency is gaining momentum again. At the beginning of the year, developers updated the protocol for data storage, which helps to solve scalability problems. Developers’ activity, in most cases, has a positive effect on the dynamics of the cryptocurrency exchange rate.
ZCash (ZEC) – 27%
It is considered one of the most anonymous cryptocurrencies on the market. The ZEC Protocol stores all transactions, just like Bitcoin, but the addresses of senders and recipients are not visible, and the transactions themselves are securely encrypted. The developers presented a new funding model, according to which from the end of 2020, 20% of the remuneration of miners will be directed to the development of the project.
Chainlink (LINK) – 31%
LINK occupies the 14th position in the list of CoinMarketCap – a well-known service for monitoring cryptocurrency exchange rates and capitalization. Chainlink has a large and united community that promotes the project aggressively.
UNUS SED LED (LEO) – 27%
The LEO token, which was sold as part of the IEO on the Binance crypto exchange, did not lag far behind ZCash. LEO is a product of well-known and one of the most liquid crypto exchanges -Bitfinex. At the end of 2019, the platform announced burning of tokens. In addition, the creators will launch a new transparent system, LEO Transparency Dashboard, which will allow the user to track iFinex revenues and the process of burning tokens.
Tezos (XTZ) – 19%
Tezos quickly rose to the 12th position of CoinMarketCap rating. The cryptocurrency supports the POS consensus algorithm, which allows holders to earn up to 20% per annum. But for self-staking, you will need an amount of at least $1000. However, staking is supported by some crypto-exchanges and wallets, which you can use to earn income with a smaller amount.
NEM (XEM) – 11%
Another token that has lost high positions to other fast-growing blockchain projects. However, this year the token showed rapid growth again. The project has a long-awaited launch of the main Catapult blockchain network, which is the official end product of NEM, in the first quarter of 2020
INO COIN (INO) – 11%
This token is the least known in our rating. The project provides effective solutions for crowdfunding. In fact, there are no obvious reasons for its growth, and the project’s blog has not been updated since 2018. Therefore, it is not clear why INO has grown so much since the beginning of the year. Perhaps someone owns insiders and is waiting for the release of new events in the future. But this is only an assumption.
Conclusion
As you can see, although Bitcoin is the market leader, there are cryptocurrencies that can grow in price more sharply. While the rate of many altcoins has increased by more than 10%, Bitcoin has increased in price by only 5%. However, if you want to sell bitcoin, then you have the opportunity to fix more profit using the HiRiBi service. This exchanger allows you to sell bitcoin for PayPal USD at approximately 10% higher than its average market rate. This way you can already get up to 15% of the return if you bought it at the beginning of the year.
HiRiBi exchanges cryptocurrency automatically, so the money will be sent to your PayPal wallet immediately after three network confirmations. HiRiBi also has an affiliate program that allows you to get up to 2% off the exchange amount of your referrals.
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