If you had invested Rs 10,000 in Bitcoin two months back, your net investments would be just over Rs 14,000 today. An investment in Ethereum would have an almost similar result. But an investment in the much-hyped token Shiba Inu would have yielded a total of about Rs 74,000 within these 60 days. Had you put this money into one of the top-performing crypto Kadena, your original Rs 10,000 would have surged to a jaw-dropping figure of Rs 1,57,000.
They might sound like the stuff of dreams, but these are very real numbers from the market performance of cryptocurrencies in the past two months, that is, September 11 to November 11. The world of cryptocurrencies is gaining new followers each day, as everyone wants to get a piece of the moonshot action. More investors are, of course, leading to more and more money flowing into these digital currencies.
The sky-high graphs are, thus, no surprise for someone who has been monitoring the market for a long time. But for new investors, it can be a real dilemma as to which crypto coin or token to back up. This choice has to depend on a lot of factors which vary from one person to another. Though if you were to pick the best running horses in the past period, all you have to see are the performance charts and that, is a very easy task to start with.
Here, we focus on some of these cryptocurrencies, which have had a great two months and yielded significant financial results to their investors. Note that this analysis is not meant to be a market prediction but a mere observation of the performance of cryptocurrencies and a hint of what their potential can be for investors. So let us start –
Top-performing crypto coins
To begin with, let us first focus on some of the top-performing crypto coins within the past two months. Note that this should ideally include coins that grew the most in terms of market value, but the cryptocurrency market is a bit tricky if you look at it that way.
A simple fact to understand this – more than 10 cryptocurrencies experienced a rise of more than 1,000 per cent in value within the last two months. That means a return of over Rs 1 lakh on your investment of Rs 10,000. While this might sound tempting, these coins often elude the wider audience and are listed on very few platforms for public trading. Also, such bull runs are once in a lifetime events for most of these coins.
Thus, we will focus on the cryptocurrencies that have an established presence in the global crypto market and tend to be much more stable in nature than such one-shot wonders. Here are some of the top-performing crypto coins in this regard.
Fantom – A scalable smart-contract platform that enables developers to create decentralised applications, Fantom has been the hot coin in the past couple of months. At the beginning of the two months mentioned above, the cryptocurrency was trading at around Rs 100. 60 days later, it now stands at a value of Rs 213 as at the time of the writing, registering an amazing growth of 79 per cent.
Polkadot – Designed to make several blockchains interoperable, Polkadot grew from around Rs 2,500 back in the second week of September to Rs 3900 today. This equates to yet another bull rally of just about 52 per cent, kicking off a massive interest into the coin.
Binance Coin – The personal crypto coin of the world’s largest cryptocurrency exchange, Binance Coin registered an impressive 51.63 per cent of growth in the last 60 days. It started the period at a price of around Rs 29,000 and currently records a value of over Rs 50,000 for a single coin.
Bitcoin – Bitcoin, the godfather of all cryptocurrencies in terms of market cap, grew by 42.43 per cent in the period of the last 60 days. The most valuable cryptocurrency in the world saw a dip in its value late in September, which lasted till the early days of October. Since then, Bitcoin has been giving out impressive returns to investors.
At the time of writing, its market value hovers around Rs 52 lakh. This is a sizeable gain from the Rs 33 lakh mark that Bitcoin was trading at on September 11.
Ethereum – Following close on the heels of Bitcoin, Ethereum grew by around 37 per cent in the last two months. At the beginning of this period, Ethereum traded at around Rs 2.43 lakh, a value that stands at Rs 3.77 lakh at the time of writing.
(Image: Reuters)
These were the cryptocurrencies that have a strong market capitalisation and managed to grow their value significantly within the last two months. In layman’s terms, these are the “safe bets” in the world of cryptocurrency. Though do not take this as an investment advice, and make sure to do your own research before investing in any of these.
Of course, by no means are these the crypto coins that experienced the highest growth. As mentioned above, such abnormal price jumps are mostly seen in new coins which are starting out and are not a very risk-free investment. In case you are still interested, some such coins that burst into the scene in the last two months are Kadena, Advanced Technology Coin, Pegnet, Akroma, Rabbit Coin and more. DotDown and TRXDown are the ones that saw a baffling rise in values of seven-digit percentages.
FYI, your Rs 10,000 invested in TRXDown would have been Rs 52,68,26,200 in two months.
Top-performing crypto tokens
Crypto tokens are different from crypto coins and can be based on the existing blockchain networks. Hence, these are also easier to make than a crypto coin, which needs its own blockchain to work on. That is exactly why there is a flood of crypto tokens in the market.
Tokens are the wild rollercoaster ride that all the short-term investors are looking for. They can shoot up to the moon within hours or drop dead to the ground within the same time. So make sure you invest your hard-earned money very carefully in these.
In case you have decided that you want to, here are some hot crypto tokens that have performed extraordinarily in the past two months.
Shiba Inu – No points for guesses here. Shiba Inu has single-handedly been responsible for keeping the world of cryptocurrency in the limelight in the past month. With the constant memes by Tesla CEO Elon Musk, and the token’s fanbase backing its listing on Robinhood, Shiba Inu surged to an all-time high earlier this month before dropping in value again.
The net result was that the token gained more than 638 per cent in the last two months, surging from a price of around Rs 0.0005 to a current price of Rs 0.004.
Chromia – A token of the Chromia blockchain platform for decentralised apps, Chromia recorded a massive surge in the past two weeks, majorly after the announcement of its collaboration with Revolve Games. The token has skyrocketed from an earlier value of around Rs 26 to a trading value of Rs 92 at present, registering a growth of more than 200 per cent.
Cartesi – Meaning to improve smart contract programming, Cartesi was the hot token in the past week, growing more than 50 per cent in value within the seven days. Over the two months, the token established a meteoric rise of 131 per cent, increasing from around Rs 46 at the start to about Rs 119 towards the end of the two months.
Enjin Coin – A toke of Enjin – a blockchain-based gaming products firm, Enjin Coin grew gradually over the two months, maintaining a high of 73 per cent through the period. While it used to retail for around Rs 120 two months back, the token is now valued at Rs 236 for one unit.
