6 Fastest-Growing Cryptos in 2023 To Buy Right Now (2024)

Whatever the reason is that you’re interested in cryptocurrency, it pays to know which are the fastest-growing cryptos, as that is where the momentum is in the marketplace. Although subject to change at any time — just as with everything in the world of crypto — here are some of the cryptocurrencies you might want to check out.

1. Solana

Solana, like most cryptocurrencies, plunged more than 50% in the wake of the FTX collapse in late 2022. However, the crypto has bounced back from its lows as some investors still believe in the long-term potential of the token.

Solana boasts a distinctive “proof-of-history” technology but it also has other unique advantages that make it a fast-growing cryptocurrency. One of the most important is its speed, with block times of 400 milliseconds and a transaction speed of about 3,500 per second.

Solana is energy-efficient, with a 0% net carbon impact, and it is scalable. Fees also remain low, at less than $0.01 per transaction.

2. Cardano

Cardano is another crypto darling that got walloped in late 2022 but that has been steadily climbing back. The “proof-of-stake” blockchain platform is the first based on Ouroboros, which was the first peer-reviewed, verifiably secure blockchain protocol.

The environmentally sustainable blockchain protocol uses a layer-2 scaling solution, known as Hydra, that is intended to ultimately handle as many as 1 million transactions per second. Those types of speeds make other industry giants look very old school in the race for crypto supremacy.

3. Avalanche

Avalanche has a lot of exciting features behind it that make it fast-growing. For starters, it is the single-fastest smart contracts platform in the blockchain industry. As users favor speed, many gravitate towards this platform. It’s also low-cost and eco-friendly. Developers can build Ethereum dApps without limits as Avalanche is Solidity-compatible.

One of its most exciting opportunities is its AVALabs collaboration with Amazon Web Services, which allows it to access blockchain resources on the AWS market.

4. Polkadot

Polkadot’s price has followed the general trend of the overall crypto market lately, falling in conjunction with the FTX collapse and then bouncing back in early 2023. But its distinct features keep investors interested and might provide support for a long-term play.

Polkadot’s developers describe it as “the multichain vision for Web3,” as it unites and secures specialized blockchains called parachains. By uniting these parachains, it allows for communication across various blockchains. This helps fulfill the vision for cryptocurrency and blockchains as a whole, which is a world with a truly decentralized, interoperable web.

Polkadot also boasts the lowest carbon footprint among all proof-of-stake protocols, making it a sustainable option for the future.

5. Polygon

Polygon is built on the Ethereum platform but it offers Layer-2 solutions, allowing it to focus on sustainability — and speed. Essentially, it attempts to speed up applications offered on the Ethereum network. Currently, transaction speeds on Polygon reach up to 7,200 per second.It offers the security and decentralized applications that all platforms seek, but it also achieves carbon neutrality.

But what may keep it growing rapidly in the future is its vision of interconnecting blockchain networks. This will continue to allow users to process secure transactions at rapid speeds, but in a more expansive universe. Polygon’s price has nearly tripled since its June 2022 low, and it currently has lots of momentum behind it.

6. RobotEra

If you’re a believer in the metaverse and like the feeling of “getting in on something early,” you might want to participate in the presale of the RobotEra token, TARO. RobotEra claims that you can “become your own robot,” building and managing your own land in its “sandbox-like planet-rebuilding metaverse.” You can also find and acquire your own resources in the multiverse, as well as make robot companions.

The self-dubbed “Web 3.0 multiverse for the NFT community” offers a combination of excitement and risk. As an unproven world/cryptocurrency/token that has not yet come into existence, there’s little hard data to predict the success or failure of it. But for those at ease with Web 3.0, the multiverse and new cryptos, it could prove to be quite popular.

The Bottom Line

Regardless of what you think about cryptocurrency, there’s no getting around the fact that its prices remain volatile and on the whole remains a very speculative investment. Although some cryptos have high growth potential, it’s not only hard to predict which crypto will boom in 2023, it’s also hard to know which ones will go bust.

Although the six cryptos listed above are currently fast-growing and could be the next booming cryptocurrency, there are no guarantees in the space — and “fast-growing” doesn’t necessarily predict future price gains. Some are still new to the market and may either be the “next big thing” or a total bust. With such uncertainty in the market, it’s imperative that you consult with a financial advisor and only invest money you can afford to lose if you choose to dabble in cryptocurrency.

Data is accurate as of March 24, 2023, and is subject to change.