14 Fastest Growing Cryptocurrencies in 2024 (2024)

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Numerous crypto projects are added to the blockchain every day, but many fizzle out due to lacking utility. Some cryptocurrencies blossom because they provide real-world solutions and are accompanied by effective marketing campaigns.

We scoured the market and found the fastest growing cryptocurrency. Successful cryptocurrencies have provided significant returns to investors, so we highlighted some projects that may prove to be worthwhile investments.

Let’s analyze the different cryptos with fast growth and determine their potential.

Fastest Growing Crypto Reviews

Most traders looking for ways to make money with cryptocurrency will be on the hunt for the fastest growing cryptos in 2024.

Now that we’ve listed the cryptos with the fastest growth, let’s get into their details to find out the mechanics behind the projects.

1.Sponge V2 – A Hot New Version Of Sponge With High Staking Rewards And A P2E Game

Sponge V2, following its predecessor’s success, is a highly promising meme coin with a history of massive growth.

Initially launched in early 2023, Sponge saw a meteoric rise in its market cap, achieving 100x gains and securing listings on top exchanges like Gate, MEXC, and Poloniex.

With a community of approximately 30,000 followers on X (Twitter) and an active Discord and Telegram group, Sponge V2 aims to increase engagement with better utility in 2024.

Key Developments:

• Stake-to-Bridge Model: Sponge V2 has a Stake-to-Bridge mechanism, allowing an easy transition from SPONGEV1 to SPONGEV2. This model involves staking SPONGEV1 tokens, which are locked and exchanged for SPONGEV2 tokens. This process is designed to create long-term community investment.
• Play-to-Earn Game: A key addition to the Sponge ecosystem is the Sponge Racer P2E game, leveraging the SPONGEV2 token for in-game transactions and earnings. This game development aims to improve the utility and appeal of the token.
• Community and Exchange Listings: Sponge V2’s strategy includes potential listings on Tier-1 exchanges such as Binance and OKX, a move that could replicate the success of other meme coins.

Sponge V2’s total token supply is capped at 150 billion, with a significant allocation for staking rewards and the P2E gaming ecosystem. This distribution strategy incentivizes active participation and increases the token’s utility.

Investors participating in the presale can double their holdings by purchasing SPONGEV1 tokens, which are automatically staked and converted to SPONGEV2, with staking rewards offered for four years.

Visit Sponge V2

2. 5th Scape (5SCAPE) – VR an AR-Themed Cryptocurrency, Token Holders Get Discounts on All Products

5th Scape ($5SCAPE) offers a crypto gaming and learning ecosystem that uses augmented and virtual reality. The platform features gaming elements, educational resources, and gives access to blockbuster movies.

$5SCAPE token holders get lifetime access to a suite of VR gaming content. Some of the games within the 5th Scape universe include the ‘Epic Cricket Arena’ – allowing you to engage in live Cricketing action and take part in the matchday. Soccer and MMA-based VR games are also included in the ecosystem.

Token holders get free access to educational modules and seminars. You can also watch select blockbuster movies. To heighten realism, 5th Scape offers VR gaming headsets and chairs. These use precise motion tracking to offer hyper-realistic gameplay. All products are offered at discounted prices for token holders.

This cryptocurrency is currently priced at $0.00187 during the ongoing presale – which consists of 12 rounds. Over 4.1 billion tokens are available across the presale – accounting for 80% of the 5.21 billion supply.

So far, 5th Scape has raised nearly $1 million through the presale. The platform has set a presale hard cap target of $15 million. To learn more about this VR cryptocurrency, go through the 5th Scape whitepaper and join the Telegram channel.

Visit 5th Scape

3. Smog (SMOG) – New Meme Coin Offers 42% Staking APYs

Smog ($SMOG) is currently one of the fastest-growing crypto launched on the Jupiter DEX on 7th February. Its value surged from $2 million to $65 million in just one week, marking a growth of over 3000%.

The platform has gained much traction due to its attractive airdrop campaign and high staking options, offering a 42% APY with a 90-day lock-in period to encourage long-term holding.

Moreover, aiming to rival famous meme coins like Pepe and Bonk, Smog has launched the “Greatest SOL Airdrop” campaign, distributing 490 million of its 1.4 billion token supply as community rewards.

This encourages token holders to earn airdrop points through active engagement in social media and on-chain activities, ensuring fair token distribution.

Smog’s fair launch strategy without a presale ensures equal access for all investors, boosting its trustworthiness. With 50% of its supply allocated for marketing and 35% for airdrop rewards, Smog is focused on building a strong, active community.

The project’s plans for cross-chain expansion and upcoming exchange listings are expected to increase its accessibility and liquidity.

Users interested in Smog’s potential and high staking rewards can find detailed information in its whitepaper and stay updated through its Telegram group.

Visit Smog

6. Polygon (MATIC) – Ethereum-compatible Network Providing Layer 2 Solution

Polygon’s platform connects Ethereum-compatible blockchain networks. Its key function solves problems regarding slow speeds and high gas fees, which many crypto projects have experienced.

The appealing factor of Polygon is that it solves the speed and fees issues many blockchain users experience without compromising security. The project’s founders built Polygon on top of the Ethereum blockchain, enabling it to process Ethereum-based transactions while offering scalability.

Polygon’s transactions are processed faster because it functions on a separate blockchain. And the best part is that Polygon’s transactions are cheaper than Ethereum’s.

One of the key reasons for this project’s adoption growth is the ability of developers to create decentralized applications. Polygon’s platform is also used for NFT launches and several big corporations have launched NFT collections and Web 3.0 projects on the Polygon network. Wondering where to buy MATIC in 2024? The best crypto apps offer the most popular digital assets as well as a secure crypto wallet.

7. Solana (SOL) – Smart Contract Platform Offering High Transaction Speeds

Solana is possibly the fastest growing crypto coin, having provided early investors with more than 20,000% returns. SOL’s hype isn’t merely based off celebrity endorsem*nt, but the token solves a massive problem.

It provides high transaction speeds at a low cost. Investors use SOL to pay transaction fees on the network and enjoy smart contracts. Solana is an ever-expanding project, as it aims to improve blockchain scalability.

By using proof-of-stake and proof-of-history technology. Solana plans to develop its network to process more than 60,000 transactions per second. The fees for using Solana’s network are mere pennies.

Investors who buy Bitcoin can incur fees of more than $50 and wait several hours for the transfer to reflect, depending on network usage and other factors. The key advantage of using Solana is that investors enjoy fast, affordable and scalable transactions.

8. Decentraland (MANA) – Metaverse Gaming Platform with DAO Governance

Decentraland’s mission was to build the first ever virtual world owned by its users. Joining this game enables players to explore LANDs, divided into 90,000 parcels, to traverse through fascinating scenery and structures.

Players build up their lands as they please, and some of the interesting infrastructure found in Decentraland are medieval dungeon mazes and villages.

The game enables players to acquire more land with the platform’s native token, MANA. Players can also use the builder tool to create scenes, artworks and challenges – even charging a fee for other players to enter.

A key attraction of this NFT game is that a Decentralized Autonomous Organization (DAO) governs its policies, stipulating how the platform functions, and the demand for Decentraland’s parcels increased drastically in 2021.

It appears that the demand and growth of this platform are set to continue in 2023, where Decentraland has announced partnerships with big corporations, enabling them to purchase digital land and advertise their brand.

9. Ripple (XRP)- Efficient Cross-Border Payments Solution Partnering with Banks

Ripple is a fintech company based in San Francisco, determined to provide effective payment solutions to users globally. XRP, its native token, was designed to help people receive money efficiently and at a low cost.

It has managed to provide both, as XRP transactions take mere seconds to reflect on the other side of the world and cost pennies. Ripple’s goal of enabling peer-to-peer transacting has been achieved, but it has its sights on massive corporations.

Although Ripple’s community, referred to as the XRP Army, has a large influence on the coin’s price movement, it’s the partnership with banks that increased adoption.

Numerous Asian banks and payment providers have partnered with Ripple to use XRP as a means to send large blocks of transactions across the world at a minimal cost – XRP’s price has proven to react favorably to Ripple’s partnerships.

The hindrance in XRP’s price has been Ripple’s ongoing lawsuit with the SEC – the US Securities and Exchange Commission is suing Ripple for sales of unregistered securities and has claimed that XRP is a security.

But XRP’s support from the army has led to a significant price pump, resulting in more than 1,300% returns for investors who bought the coin in March 2020 and held it until April 2021. That rally proved even a lawsuit cannot prevent XRP’s price from pumping.

10. The Sandbox (SAND) – Asset-Building Game with Expanding User Base

Another Metaverse game that has made a lot of noise with the NFT community is The Sandbox. This crypto game enables players to monetize their piece of LAND and use avatars to turn their NFT collection into a life-like form.

Owning LAND enables players to build experiences, host events and invite friends and they can also increase the value of their land by adding infrastructure and then selling it for profit. Players need to own $SAND, the game’s token, to buy and sell assets and land in the Metaverse.

The Sandbox’s user base grew significantly in 2021, with a wallet database reaching 500,000 and several thousand users spending more than an hour in The Sandbox, developing their land.

Another key development has been this game’s partnership with big brands, making it a key crypto to watch in the future.

Some of the artists The Sandbox teamed up with are Snoop Dogg, DJ Richie Hawtin and Deadmau5. Another collaboration is with Adidas, which bought a piece of land on the platform to promote its brand.

How to Find the Fastest Growing Cryptocurrency

Research Market Trends

Start by researching current market trends and recent developments in the cryptocurrency space. Keep an eye on industry news, social media platforms, and cryptocurrency forums to identify emerging trends and potential investment opportunities. Look for cryptocurrencies that are gaining traction due to innovative technology, partnerships, or adoption by mainstream institutions.

Analyze Performance Metrics

Analyze performance metrics such as price movement, trading volume, market capitalization, and volatility of various cryptocurrencies. Use cryptocurrency tracking websites and platforms to compare the performance of different cryptocurrencies over different time periods. Look for cryptocurrencies with consistent growth patterns and increasing market demand.

Evaluate Fundamentals

Evaluate the fundamentals of the cryptocurrencies you’re interested in, including the technology behind them, the team of developers, the project’s roadmap, and its use case. Conduct thorough research to understand the problem the cryptocurrency aims to solve and assess its potential for long-term growth. Look for cryptocurrencies with strong fundamentals and a clear value proposition.

Assess Market Sentiment

Pay attention to market sentiment and investor behavior to gauge the potential for growth in a particular cryptocurrency. Monitor social media channels, cryptocurrency communities, and sentiment analysis tools to understand the prevailing sentiment towards different cryptocurrencies. Positive sentiment and growing investor interest can indicate potential for rapid growth.

Diversify Your Portfolio

Once you’ve identified potential fast-growing cryptocurrencies, consider diversifying your investment portfolio to manage risk. Invest in a mix of established cryptocurrencies and promising newcomers to spread your risk and maximize potential returns. Set clear investment goals and risk management strategies to ensure a balanced portfolio that aligns with your investment objectives and risk tolerance.

Conclusion

We’ve highlighted the key criteria for selecting the fastest-growing cryptocurrencies, and we applied them to all the cryptos featured in this guide.

One of the fastest-growing cryptos is Dogeverse ($DOGEVERSE). This is a hot new multichain meme coin that’s still in its presale phase, and that offers passive staking rewards for investors.

Visit Dogeverse

Fastest Growing Crypto FAQs

What qualifies as fast-growing crypto?

Cryptocurrencies that have experienced tremendous growth by raising large amounts of money during early funding, significant increases in wallet userbase, massive coin price spikes and transaction increases would make a crypto fast growing.

Which crypto is the fastest growing this year?

Dogeverse is the fastest growing crypto in 2024. It offers high staking yields and has enormous meme potential.

How do I know which cryptos will grow fast?

A good indication of a crypto coin that may grow fast is usually evidenced in its presale – Dogeverse and Slothana are clear examples of investors flocking to a presale.

What cryptocurrency on Coinbase is the fastest growing?

Several cryptocurrencies have provided massive returns for investors such as Bitcoin and Cardano. Solana is another coin that had a huge rally.

References

• FTSE Grayscale Currencies Crypto Sector Index – LSEG.com
• Rebuilding confidence in crypto – PwC.com
• Blockchain & Digital Assets – Deloitte US

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.