This year is coming to an end, so we must say that stocks have seen a big rise in it’s all history. Unfortunately for those that are all about tradition, cryptocurrencies are the stars of 2017.
Last year, in 2016, all virtual coins combined had a value of $17.7 billion. This year, on 26 December, there were over 1,370 different cryptocurrencies that together reached about $605 billion. We’re talking about an increase of more than 3,300%, a historical rise in just a year of any other asset to have ever existed so far.
And it’s not just about bitcoin, the largest virtual coin that is believed to be the main reason of such a big rise. It has, nevertheless, been an incentive. Being the first tradable cryptocurrency that got accepted by many merchants as payment, it’s understandable why it’s so popular. Starting at $967 per coin to about $20,000 (its peak), bitcoin has been overcome by other virtual coins.
Next in the race comes Ethereum, with an advantageous blockchain, reaching a peak of over 10,000% this year. But neither Bitcoin or Ethereum have seen such a big rise as the following three cryptocurrencies that drew the attention of many virtual coin investors.
Cryptocurrencies to Steal the Spotlights in 2017
With a gain that peaked at 1,581,942%, we can say that it’s more than impressive for a virtual coin that started at $0.000019 per coin at the beginning of the year and reached on 23 December, 2017 a peak of $0.300588 per coin. Starting with a trading volume of about 200 coins per day, we can only imagine how rich those who invested only $64 in Verge are now. Yes, they got millionaire with only a $64 investment.
On top of these gains, privacy and anonymity and untraceable funds are what make more investors to become more interested in cryptocurrency. Add the Tor Android Wallet for mobile anonymity, a fast blockchain and the Wraith protocol and you have yourself great deal.
At a smaller peak gain 262,195%, the Einsteinium, with the EMC2 coin rose from $0.001098 on 31 December, 2016 to $2.88 per coin on 7 December, 2017.
The Foundation’s coin is set on a different goal. They’re not aiming at becoming a means of payment or have the best blockchain. They have a mission that focuses on funding different projects (science, technology, education and so on). About 80% of the net received from block reward payment, the Foundation gets 2.5% of it that goes in two directions: 80% to projects and 20% for marketing and donations. They claim to have gifted 16 million EMC2 coins to projects until now.
They have announced that the maximum supply of the EMC2 will be reduced to 245 million, making the coins scarce but probably gain more worth. The Foundation will also make the mining algorithm AISC resistant and GPU friendly to allow other individuals get profit through mining and preventing a centralized ownership.
This virtual coin has seen a peak gain of 132,712%. It started from $0.000017 at the beginning of this year and got to $0.022578 on 25 December. This means that the market cap got from $500,000 to almost $650 million in one year.
Reddcoin is focusing on microtransactions on social networks, relying on proof-of-stake velocity (PoSV) and not on mining. To receive rewards and find a valid block you must own Reddcoins and keep the wallet running while being connected to the internet.
Investors can also use Reddcoin for micro-donations to content creators on social networks.
This virtual coin has also been highly regarded by John McAfee, CEO of MGT Investments, admitting that it is the ‘coin of the day’ that even children under 10-year old know of.
Will these latest coins see a similar rise in 2018? We can only wait and see for ourselves.
Founder Dinis Guarda
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