Few cryptocurrencies are having a high growth rate rally continues since the start of 2021. Just like Dogecoin, Cardano, and Ethereum that are possessing more than 100% return rates till this year. Let’s get to know the facts behind it.
Dogecoin
The price of Dogecoin went up from $0.005661 on January 1, 2021, to as high as $0.285957 currently. The coin still possesses a growth of 9940% which is relatively high compared to other altcoins. Its market capitalization also grew from $1.07 billion in January 2021 to $62 billion now. Just past week ago, it gave 400% returns over cost to its investors. But, there are many reasons behind its growth like:
- Increase in market capitalization of Dogecoin
- Dogecoin is working on improving its system to increase transaction efficiency
- Growth was driven by various social media activities and indulging in new projects
Ethereum
Ethereum has offered as high as 467% return on investment since the beginning of 2021. Starting from $730 on January 1, 2021, it now holds value at $2237.14. Investors trading on various exchanges pays their transaction fees in Ethereum which has become relatively expensive considering average fees are high. This crash, along with the price, the average fees has dropped as well.
Cardano
Taking about newly formed Cardano, it is currently holding 220% of the average growth rate, and hence the price on January 1, 2021, i.e. $0.1814 went straight up to $1.43 which the current price of Cardano. It is developing at a fast rate. One of the reasons behind its growth that the Cardano development team declared to roll out an update soon, which would enable users to prove ownership via non-fungible tokens. Also, Cardano’s inclination towards a green and sustainable goal is one of the key factors affecting its growth portraying it as a promising and well-performing cryptocurrency.
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