Let’s take a quick look at five cryptocurrencies that have given best returns in 2021 .
1. Number one is Dogecoin or DOGE -Started as a meme, this cryptocurrency is now valued at US$80 billion. After the public statements by the billionaire Elon Musk of Tesla Inc, batting in favour of the Dogecoin, the digital asset has rallied by an unfathomable 13132.58%. If you had invested US$10,000 into Dogecoin on 31 December 2021, you would have been a millionaire by now – in just four months.
2. Next is Uniswap or UNI - Named after the company that first developed it, Uniswap is decentralised protocol used to exchange cryptocurrencies. Considered as an Altcoin – an alternative for bitcoin – the digital asset has surged by 921% in four months of calendar year 2021.
3. Then comes Cardano or ADA - An open-source public blockchain platform, Cardano achieves consensus by using the proof of stake. Cardano’s prices in 2020 have surged by 732%.
4. Next is XRP- Issued by US-based Ripple Labs as part of its network, the XRP can be used as investment, to exchange other cryptocurrencies or finance transactions on Ripple’s network. The prices of XRP have surged by 669% in four months of 2021.
5. Lastly we have Filecoin or FIL- A public cryptocurrency and digital payment gateway, Filecoin targets to be a decentralised storage network allowing users to trade unused storage in an open market. The prices of Filecoin have risen 547% in 2021.
The returns on these cryptocurrencies have dwarfed the otherwise abnormal returns on world’s largest cryptocurrency – Bitcoin which has given 96.08% returns.