29.03.2024

Six cryptocurrencies that turned out to be the most profitable in 2020

You can make money in the cryptocurrency niche not only on Bitcoin. Moreover, other coins tend to show much more attractive results in terms of profitability.

In 2020, cryptocurrencies, including those with a relatively large capitalization, have shown growth at a tremendous pace. Today we will consider a rating of six projects that brought the most xx to their investors.

Note that the most profitable investments of the last decade were Bitcoin and Ethereum. Cryptocurrencies showed more than 62 and 17 thousand percent growth, respectively – although this took many years.

Today, the list includes mainly new projects, some of which represent the trendy sphere of decentralized finance.

The peculiarity of such altcoins is that they often show very sharp growth – especially at the beginning of their existence. At the same time, such cryptocurrencies are also subject to noticeable corrections, that is, drawdowns in the rate. Therefore, you need to be careful with them.

ZAP

Ethereum-based ZAP gets its well-deserved first place in our ranking. At the beginning of the year, the ZAP price was only $ 0.002, but now it is reaching $ 0.111. This means that the value of the asset has increased by more than 6,300 percent over the past months of 2020.

It is scary to imagine how much an investor would receive if he invested at least $ 500 in an asset at the very bottom and sold at the peak of the rate. In this case, the net profit would have amounted to a little more than $ 27 thousand.

AAVE

The second place went to the AAVE coin, which belongs to the field of decentralized finance. It is a protocol that allows you to borrow and borrow a variety of crypto assets. Now the coin costs just under $ 70, but at the beginning of the year its price was $ 0.018. Overall, AAVE is up 4288 percent this year.

BAND

The Band Protocol coin began to grow rapidly at the end of July, increasing in price from $ 3.907 to $ 14.107. In October, its price dropped to $ 6 and has been fluctuating in a small range since then. BAND is currently priced at $ 6.2, which is up 2,727 percent this year from $ 0.236.

UBT

The Unibright startup team is committed to integrating blockchain into various business areas, Decrypt reports. It looks like their work is bringing recognition to the token – its value has jumped more than 2,665 percent this year. At the moment, it is trading near the level of $ 0.430 with a capitalization of $ 61 million.

CVT

The CVT token from the CyberVein team is in fifth place in the ranking. CyberVein is a big data service provider that provides solutions for smart cities around the world. CVT opened the year at $ 0.005 and posted a 2295 percent gain over the past months.

YFI

Yearn.finance is perhaps the most famous project in the field of decentralized finance. The token was launched in July by the developer André Cronier. At the time of listing on major exchanges, its price fluctuated around $ 1,000, but after a couple of months, the value of YFI was able to reach an annual maximum of $ 43,000. True, now YFI has fallen in price to $ 24,700, that is, the growth of the coin for the year amounted to 2,141 percent.

At the same time, at the very beginning, YFI could be bought for $ 40-50. Naturally, even a small investment in this case would bring serious money.

We believe these numbers prove the tremendous promise of the cryptocurrency niche. Its novelty opens up new use cases and rewards new investors who sometimes receive life-changing money. Of course, it can be difficult to catch the bottom of the course of a promising project or learn about it in the early days of its existence, but in many cases the effort is worth it.

And since the niche of blockchain assets is still in its infancy, this trend will clearly remain relevant in the future. Therefore, it is worth getting to know the basics of the sphere and its important features today.

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