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According to data from CoinMarketCap, Bitcoin (CRYPTO: BTC) prices have risen by over 70% since the beginning of the year. The world’s most popular cryptocurrency is currently valued at a market capitalization of $ 964 billion after an outstanding run over the past two years. Bitcoin has been a tremendous wealth creator for long-term investors as the BTC token has returned more than 35,000% since May 2013.
The widespread adoption of Bitcoin by institutional investors and several other Wall Street listed companies has been a major driver of rising prices over the past two years. For example entities including Tesla, place, and MicroStrategy keep Bitcoin on their balance sheets now.
Additionally, Bitcoin’s total circulation is limited to just 21 million tokens, making the asset inherently anti-inflationary. While Bitcoin overtook most stock indices this year, there are several other cryptocurrencies that have risen exponentially.
Here we’re looking at three such digital tokens, which rose by over 10,000% in 2021.
One of the most popular blockchain networks in the world, Solana (CRYPTO: SOL) is the fifth largest cryptocurrency with a market capitalization of $ 58.6 billion. The SOL token has grown over 10,000% in 2021 as the decentralized network has focused on speed and scalability so it can take on projects at enviable speeds.
Similar to Ethereum, the Solana blockchain is also a smart contract platform and can host a variety of projects in DeFi applications and NFT marketplaces. But Solana has a significant advantage over Ethereum. While Ethereum can handle 15 transactions per second, Solana can handle over 3,000 transactions per second.
At the time of writing, the Solana blockchain has already processed over 40 billion transactions on its network.
the Polygon (CRYPTO: MATIC) The cryptocurrency rose more than 14,000% in 2021 and values the MATIC token with a market capitalization of 18 billion US dollars. Because of its strong market profits, Polygon is now the 14th largest cryptocurrency in the world. MATIC is up over 20% in the past week as the Opera Polygon has integrated a web browser into its services. In addition, the decentralized application and the blockchain protocol Uniswap is also live on the polygon network.
Opera already has millions of users as well as a cryptocurrency wallet. By integrating with Polygon, Opera’s user base can now access dApps and Metaverse platforms from their desktop and mobile web browser.
The last cryptocurrency on my list is Axie infinity (CRYPTO: AXS), which is up 18,000% in 2021 and values the AXS token with a market cap of $ 6.57 billion. Axie Infinity, an NFT-based video game, was developed by Sky Mavis, a Vietnam-based studio. With over 2.8 million daily active players, Axie is a game that is partially owned and operated by its players, where they can earn AXS tokens and use the digital assets to decide the future of the game.
Play-to-earn video games are rapidly gaining traction and the associated digital tokens are some of the most popular this year. The AXS token is expected to be the in-game currency for the Axie Infinity Metaverse platform in early 2022, which should drive the price higher.