Out of the numerous cryptocurrencies available, there are some cryptos that achieved remarkable growth. Investors who traded using these cryptos gained hugely on their investment, some of them could see more than 12,000% return on their investment.
Bitcoin
Bitcoin is the first cryptocurrency that was introduced to us, and it is now widely used around the world as a payment method. There are Bitcoin ATMs in almost every country in the world, where people can exchange Bitcoin for money.
It is the main cryptocurrency that can be found on most brokers’ websites, and many businesses accept payment using Bitcoins.
The value of Bitcoin grew tremendously from being on the verge of $15,000 in 2017 to hitting $68,000 by late 2021, marking one of the biggest crypto gains of more than 240%.
Additionally, if a trader bought 1 Bitcoin in July 2021, 4 months later in November of the same year when the Bitcoin price reached $68,000, the investor would see a return on investment of more than 125%.
This way, if a trader invested $1,000 in Bitcoin, the value of the investment by the end of the year would be worth $2,250, making a profit of $1,250 in 4 months.
This huge gain in Bitcoin was caused by many exchange providers announcing that they would adopt Bitcoin as a payment method in a similar fashion to PayPal. Additionally, El Salvador announced adopting Bitcoin as a legal tender for buying goods and services in the country, which boosted the surrounding speculations.
Dogecoin
The Dogecoin was created out of sarcasm by software engineers Billy Markus and Jackson Palmer, as they were making fun of the Bitcoin outbreak in 2013.
Dogecoin did not really hold a significant value until 2021. Before then, the price of 1 DOGE was 0.0025 USD. However, the Dogecoin cryptocurrency gained 128% within the first week of 2021 and started circulating on different social media platforms.
Since the cryptocurrencies fluctuated based on speculations, the meme-based Dogecoin gained more popularity in April, when more people heard about it - more people invested in it, causing one of the most profitable gains in crypto of more than 500% between the 10th and 16th of April 2021.
For example, if a trader predicted this trend and invested $1,000 in DOGE, in less than 1 week the investment would bring about an additional $5,000.
The growth did not last too long and in the few days after April 16th it dropped by around 50%, before jumping another 104% during the first week of May 2021.
The value of DOGE was highly tied to the tweets of Elon Musk, the CEO of Tesla Inc. who mentioned on different occasions his support for Dogecoin, and that his company would accept it as a method of payment, which triggered a great race for this digital coin.
Towards the end of the year, the CEO of Tesla Inc. announced that the company might adopt Dogecoin as a payment method, causing the DOGE price to jump around 20%.
Shiba Inu
Shiba Inu is another sarcastic or meme-based cryptocurrency that was created in 2020. The intention was to compete with trending Dogecoin. In May 2021, between the 8th and 11th, SHIB cryptocurrency gained more than 1,150%, marking the highest gains in crypto history.
For example, if a trader invested $1,000 in SHIB coin, in three days their investment would have been valued $12,500. But if they managed to withdraw their profits at this time it would be great, because SHIB lost most of its value by the end of the same year.
By October of the same year, the price jumped another 190%, marking the end of the SHIB trend, as it started to lose most of its value.
If we look at the bigger picture of Shiba Inu's life span in 2021, we see great inflation in its value with a growth of almost 2 million %, turning a $1 investment into millions of dollars.
Ethereum
Ethereum is considered the second biggest cryptocurrency in the market after Bitcoin in terms of trading volume, and market capitalization. It was created in 2015 and accompanied Bitcoin in the 2017 cryptocurrency boom, growing from $10 at the beginning of 2017, and closing the year with a 9,900% gain.
After reaching more than $1,300 in 2018, Ethereum's value deflated to $200 by the end of 2020. By then, more payment providers and exchanges accepted Ethereum besides Bitcoin as a payment method. As a result, the value of ETH increased by more than 210% during the first half of 2021, reaching $4,179.
The valuation continued, and by November of the same year, Ethereum increased to a new high of $4,818, a slight increase of 15%. This increase was linked to the upgrade in Ethereum which strengthened the ecosystem and the blockchain, gaining more confidence from crypto investors.
Other currencies were created to race Ethereum for second place, which did nothing but strengthen the Ethereum position as one of the biggest gaining cryptocurrencies.
Solana
This cryptocurrency was created to compete with Ethereum, which was created in 2020, and is mostly compared to Ethereum by crypto investors.
Solana is one of the top gainers in the cryptocurrency market. Its price witnessed more than 12,900% growth, reaching $290, which made many believe that it is going to beat Ethereum.
It can be differentiated from Ethereum since it uses different blockchain technology, which can be the reason not many traders believe in Solana as a competitive currency. On the other hand, its technology sounds promising since it can handle more transactions per second than Ethereum.
However, the beginning of 2022 was not the best start for SOL. Its network went offline during the first week of 2022, and it lost around 40% of its December 2021 value.
