Top 7 Cryptocurrencies that Gained More than 100% in 2021

Cryptocurrencies

Check out the top 7 cryptocurrencies whose value has increased more than 100% in 2021.

Every investor today thinks of cryptocurrencies because of their volatile prices. Bitcoin is the first coin that comes to our mind when talking about crypto but a true investor will know the value of other cryptos as well. It’s not only bitcoin but other cryptocurrencies as well that have gained more than 100% in the crypto market. Let’s take a look at the top 7 cryptocurrencies that have gained more than 100% in 2021.

1. Bitcoin (BTC)

Market cap: Over $856 billion

Like most of the other cryptocurrencies, BTC operates on a blockchain, or a ledger logging transactions distributed across a network of thousands of computers. Bitcoin is the most popular and the highest valued crypto in the world, despite all its cons, if you have the funds to invest, buy Bitcoins. There’s no doubt about its growth and it’s a loyal option for many investors globally. Five years ago, you could buy Bitcoin for about $500. As of August 2021, a single Bitcoin’s price was over $45,000. It has gained about 8,900%.

2. Ethereum (ETH)

Market cap: Over $357 billion

After Bitcoin, this is the second most valuable crypto coin in the world. Both a cryptocurrency and a blockchain platform, Ethereum is the first one to introduce NFTs and smart contracts that automatically perform when conditions are met enabling developers to make potential applications based on it. The transaction speed of Ether is also pretty quick compared to Bitcoin.

Ethereum has also experienced tremendous growth. In just five years, its price went from about $11 to over $3,000, increasing roughly more than 27,000%.

3. Binance Coin (BNB)

Market cap: Over $70 billion

The Binance Coin is a form of cryptocurrency that you can use to trade and pay fees on Binance, one of the largest crypto exchange platforms in the world.

Binance Coin has expanded past merely facilitating trades on Binance’s exchange platform. Now, it can be used for trading, payment processing, or even booking travel arrangements. It can also be traded or exchanged for other forms of cryptocurrency, such as Ethereum or Bitcoin. Its price in 2017 was just $0.10; by August 2021, it had risen to over $419, a gain of almost 419,000%.

4. Cardano (ADA)

Market cap: Over $69 billion

Ethereum’s co-founder created Cardano with the ability of smart contracts. Compared to Ether, Cardano has the 3rd most advanced blockchain technology out of the lot, which makes this a secure investment. Cardano is notable for its early acceptance of proof-of-stake validation.

Cardano’s ADA token has had relatively medium growth compared to other major crypto coins. In 2017, ADA’s price was $0.02. As of August 2021, its price was $2.11. This is an increase of over 10,000%.

5. Ripple (XRP)

Market cap: Over $52 billion

Ripple was created with a unique thought in mind, to solve problems related to international payment transfers. Traditionally, international money transfer takes about a week but Ripple can make it happen in a few seconds. Out of all the cryptocurrencies right now, Ripple is one of the few that is being tested for real-world use.

At the beginning of 2017, the price of XRP was $0.006. As of August 2021, its price reached $1.14, equal to a gain of almost 19,000%.

6. Dogecoin (DOGE)

Market cap: Over $40 billion

Dogecoin has been a hot topic since the tweet by a billionaire, Elon Musk. Dogecoin rapidly became a prominent cryptocurrency option, because of the creative memes. Unlike many other cryptos, such as Bitcoin, there is no limit on the number of Dogecoins that can be created, which leaves the currency susceptible to devaluation as supply increases.

Dogecoin’s price in 2017 was $0.0002. By August 2021, its price was at $0.31—a 154,900% increase.

7. Polkadot (DOT)

Market cap: Over $25 billion

Cryptocurrencies may use any number of blockchains; Polkadot aims to integrate them by creating a cryptocurrency network that connects the various blockchains so they can work together. This integration may change how cryptocurrencies are managed and have stimulated magnificent growth since Polkadot’s launch in 2020.

Between September 2020 and August 2021, its price grew 774%, from $2.93 to $25.61.

Source: https://www.analyticsinsight.net/top-7-cryptocurrencies-that-gained-more-than-100-in-2021/

Why Bionano Genomics Stock Is Tumbling Today

No news; just run-of-the-mill volatility.

Keith Speights

What happened

Shares of Bionano Genomics (NASDAQ:BNGO) were tumbling 6.7% lower as of 11:10 a.m EDT on Friday. The company didn’t report any news nor were there other developments that would explain the stock’s decline. Instead, today’s drop appears to be due to the volatility that’s relatively typical for the stock.

So what

When a high-flying growth stock like Bionano sinks for no apparent reason, the best thing for investors to do is focus on the fundamentals of the company’s business. For Bionano, the fundamentals revolve around its Saphyr genomic sequencing system.

DNA with reddish background

Image source: Getty Images.

Saphyr supports structural variation analysis that’s especially helpful in cytogenetic research (the study of changes in chromosomes). Bionano’s installed base of Saphyr systems totaled 97 at the end of 2020. Even during the pandemic, the company was able to increase its installed base by nearly one-third.

Bionano generates revenue from instrument sales. However, over the longer term as its installed base size grows, sales of consumables including chips and reagents is where the company should make even more money.

Now what

One of the most important ways for Bionano to increase its Saphyr installed base is to roll out more laboratory-developed tests (LDTs) for the system. The company should achieve significant progress toward this goal in the coming months.

Bionano expects to receive accreditation for LDTs for acute lymphocytic leukemia and facioscapulohumeral muscular dystrophy in certain European markets by the end of the second quarter. It also plans to launch prenatal assays and expand its menu of pediatric assays in the third quarter.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

Keith Speights has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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Source: https://www.fool.com/investing/2021/04/16/why-bionano-genomics-stock-is-tumbling-today/