These Altcoins Made 50,000 Percent! Which Do You Have?

 

As the cryptocurrency craze grows worldwide, investors seeking superior returns are rapidly purchasing lesser-known and higher-risk digital tokens. Despite the market volatility in April-May, some altcoin projects have delivered dazzling returns, climbing as much as 50,000 percent in the past year.

Sharan Nair: Investors aim to benefit greatly from altcoin projects

Sharan Nair, Chief Operating Officer of CoinSwitch Kuber, says that investors aim to reap huge benefits from these cryptocurrencies, just like Bitcoin in the early days. Axie Infinity, an Ethereum-based gaming token, has attracted millions of users from developing countries such as the Philippines and Indonesia, with an increase of over 48,380%. Vikram Subburaj, CEO and Co-Founder of Giottus Cryptocurrency Exchange, says Axie Infinity will face tough competition and this will limit its growth.

Created to mock speculation in cryptocurrencies, Dogecoin has soared as much as 8,300 percent in the past year, especially after Tesla boss Elon Musk said he was working with its developers. Blockchain payment network Terra's LUNA altcoins, which use dollar-pegged stablecoins to power price-stable global payment systems, have gained nearly 6,000 percent in the past year. Vikram Subburaj expects it to reach $1, which is still about 300 percent higher than its current levels, commenting:

Terra's future growth may be limited given the upcoming regulations around stablecoins.

Polygon, Cardano, Solana and others…

Founded by three Indians, Polygon has generated over 4,300% returns in the past year. Vikram Subburaj says it has growth potential with Ethereum and strong growth from current levels is possible next year. Cardano and Solana have achieved returns of 1,400-2,000 percent in the past year. Sharan Nair of CoinSwitch Kuber says the recent craze for non-tradable tokens has brought these cryptocurrencies to a more mainstream market, predicting:

Cryptocurrencies like this will experience a steady rise in the coming days and investors will be in a good position.

Among the giants, Ethereum has delivered a stellar return of 770 percent over the past year. Market experts attribute this rally to the buzz around the London Hard Fork, a new software update that strengthens the network. Vincent Lau, General Manager of Huobi Global International Operations, says that the crypto market will continue to grow, adding:

The entire blockchain will be able to provide more functionality and make the ecosystem more sustainable.