Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong. The cryptocurrency industry is clearly growing at an immense pace and has gained most of its momentum in the past couple of years. Since blockchain technology and the potential of cryptocurrencies have become more mainstream, the demand for projects that materialize utility has increased and is reaching a wider audience too. However, it cannot be stated that one can blindly buy any crypto and hope to earn profits in the future. Depending on the market trends, conditions and use cases, projects emerge and fizzle out every now and then. However, one of the best times to follow and invest in cryptocurrencies is when they are in the process of growing and becoming known to the wider community. Thus, growing cryptocurrencies essentially end up being some of the wisest and most profitable assets for a majority of the investing citizenry. In this guide we have compiled a list of the fastest growing cryptocurrencies that would be a profitable addition to anybody’s portfolio if they are looking to invest in assets that could potentially shoot up in terms of price. Fastest Growing Cryptocurrency Tokens – Overview Smog – Redefining Success in the Solana Meme Coin Frenzy With 4-Digit Returns Bitcoin Minetrix – Quickly Growing Mining-Based Crypto Project Sponge V2 – Fastest Growing Memecoin of 2024 Scotty the AI – Memecoin Leveraging AI to Grow Faster eTukTuk – EV-Focused Crypto with Massive Growth Potential Meme Kombat – Fastest Growing Gamefi Project in 2024 Wall Street Memes – Fastest Growing Memecoin Leveraging the Power of Community Sei – High Growth Crypto With a Focus on Decentralization Polygon – Fastest Growing Cryptocurrency in the Defi Space Polkadot – Growing Ecosystem-based Project Verasity – Growing Project Which Solves Ad-Issues Enjin – Fast Emerging Gaming Project in 2024 Fastest Growing Cryptocurrencies – Full Reviews While some of the projects above are new and some are well-established with a large market cap, all have a high potential for growth. Here is a detailed review of each of our picks for the fastest-growing cryptocurrency projects: Smog – Redefining Success in the Solana Meme Coin Frenzy With 4-Digit Returns In the midst of the ongoing meme coin fervor in early 2024, SMOG has emerged as the fastest-growing Solana-based token, capturing the spotlight with an unprecedented 1,000% surge on its launch day. Trading on Jupiter DEX, SMOG witnessed a remarkable $1.2 million in volume within the first day, drawing attention from 1,780 traders and amassing an impressive 10,400 unique holders within its initial 48 hours. Diverging from the common dog-themed meme coins, SMOG introduces a distinctive fire-breathing dragon mascot, drawing inspiration from the iconic Smaug character in The Hobbit. This unconventional approach has resonated strongly with investors, contributing to the rapid growth of the SMOG community. The project’s tokenomics reflect a strategic allocation strategy, earmarking portions for community airdrops, marketing initiatives, DEX liquidity, and potential listings on additional exchanges. The ambitious roadmap sets the stage for future milestones, including the target of reaching 100,000 unique holders and exploring a token burn protocol. Endorsements from prominent crypto traders, including Jacob Bury, Matthew Perry, and Crypto ZEUS, have further propelled SMOG into the spotlight, with projections of substantial gains, some as high as 100x. The upcoming airdrop, reserving 35% of the total SMOG supply, valued at $28.9 million, for early adopters adds to the growing excitement. As the anticipation for the airdrop builds and the SMOG community expands, the token’s trajectory in the competitive Solana meme coin arena appears poised for sustained success, with the potential for explosive growth continuing in the foreseeable future. The token is currently trading for $0.067 and Investors can purchase the token on the official website. Visit Smog Bitcoin Minetrix – Quickly Growing Mining-Based Crypto Project Mining is a solid way to potentially earn Bitcoin or similar cryptocurrencies. However, it’s an industry with its fair share of bad actors looking to dominate. This is where Bitcoin Minetrix comes in, emerging as a rapidly growing project. Its main focus is on helping regular investors mine BTC, and its standout feature is its decentralized cloud mining solution. This aims to address the common issues of high hardware requirements and scams in the world of Bitcoin mining. Users can buy and stake BTCMTX tokens to get cloud mining credits, ensuring a safer and more transparent mining experience. Bitcoin Minetrix’s decentralized solution, powered by BTCMTX tokens, makes Bitcoin mining accessible to a wider audience. Users can simply buy and stake tokens to earn cloud mining credits, which can be converted to BTC. This “Stake-to-Mine” concept is a significant step forward, making decentralized mining available to regular crypto investors. This user-friendly approach, offering direct access to potentially mine BTC, is what’s driving the project’s impressive growth, even in its presale phase. Investors can also take advantage of the current discounted rate for the BTCMTX token by pruchasing from the presale directly. Visit Bitcoin Minetrix Presale Sponge V2 – Fastest Growing Memecoin of 2024 Sponge V1, the first version of Sponge, was one of the fastest growing memecoins of 2023. It arrived in May 2023 on Uniswap and quickly climbed the price charts and pumped by 3200%. While the token’s value declined later, at its peak, it had a market capitalization of $100 million and 13k holders, which allowed it to be listed on multiple cryptocurrency exchanges. Sponge V2 is attempting to bring back those fastest-growing attributes to this token. Acquiring this token requires a “stake-to-bridge” mechanic, which allows Sponge V1 stakers to earn an equivalent number of Sponge V2 tokens. Long-term holders are also incentivized with bonus rewards in terms of a high APY, which starts at 40%. Sponge V2 is also bringing a novel P2E game which will allow players to earn Sponge V2 by playing the game. A unique staking mechanic and P2E attributes can help this token grow faster when it reaches cryptocurrency exchanges. The token is yet to be launched and staking is live. Interested parties can go to sponge.vip to stake their tokens to participate in this unique memecoin. Visit Sponge V2 Scotty the AI – Memecoin Leveraging AI to Grow Faster There are two factors that are propelling Scotty the AI to be one of the fastest-growing tokens in the market. The first factor is that it is a doge-based memecoin. Historically, these tokens have been able to move up quickly on the price charts. The second factor is its defining trait – it uses AI-driven fundamentals. Scotty the AI has been described as an ecosystem developing technologies to ensure that the Ethereum blockchains remain protected from fraudulent transactions, on-chain activity is fast, and users have access to robust market analysis and insights. These factors are highlighted as the traits of Scotty, Scotty the AI’s mascot. He has been described as a cyborg Scottish Terrier watching over the blockchain and providing a safe place to investors to trade crypto. These attributes have been realized through two elements. One is Scotty Swap, a decentralized exchange using AI-driven fundamentals to enable quick transactions and profitable trades. The other one is ScottyChat, a chatbot that gives AI-driven analytics rapidly. The project’s fast growth is evident from the pace of its presale. Over $400k has been raised already for this project, and more investors are coming to leverage its AI-driven fundamentals. Visit Scotty the AI eTukTuk – EV-Focused Crypto with Massive Growth Potential Combining community interest, utility, and rapid growth, certain cryptocurrencies emerge as formidable contenders in the market. eTukTuk, launched just weeks ago through its presale, epitomizes this winning formula. This innovative cryptocurrency has captured widespread attention on social media and earned accolades from both investors and environmental advocates globally. Media outlets have also taken notice, spotlighting its mission to transform transportation by championing electric vehicles (EVs) and curbing vehicle emissions. eTukTuk’s ambition is expansive, aiming to construct a robust EV network that includes its flagship vehicle alongside a network of strategically positioned charging stations. These stations will cater to EV owners, particularly targeting areas burdened by congestion and pollution. Driving transactions within this ecosystem is the TUK token, the project’s native currency. Additionally, eTukTuk plans to introduce a play-to-earn (P2E) game, offering a preview of its envisioned ecosystem, with the TUK token at the heart of the gameplay. Currently in its presale phase, the TUK token is priced at $0.026, having already amassed over $500k in funding. With its momentum, practical applications, and anticipated adoption rate, it’s foreseeable that the TUK token could emerge as one of the leading gainers and fastest-growing cryptocurrencies of the year. Visit eTukTuk Presale Meme Kombat – Fastest Growing Gamefi Project in 2024 Meme Kombat has swiftly risen as a standout player in the meme crypto arena, displaying impressive growth. The project’s unique approach, featuring popular mascots from other projects engaging in AI-generated battles, has garnered significant attention. Imagine witnessing battles between characters like Shiba Inu and Pepe, with the added thrill of being able to place bets. This disruptive force in the gamefi space is well on its way to achieving substantial success in its presale. By leveraging cutting-edge technology and the decentralized Ethereum network, Meme Kombat offers a fresh perspective on Play-to-Earn gaming, providing lucrative rewards for successful bettors, including additional $MK tokens. The Staking feature involving $MK tokens empowers holders to earn a passive Annual Percentage Yield (APY) of 112%. Community engagement is a focal point for $MK, with a portion of the tokens reserved for community rewards. With half of the token supply accessible in the ongoing presale, and 10% allocated for liquidity pool pairing on a decentralized exchange, Meme Kombat positions itself as a rapidly growing crypto project. Boasting a hard cap of $10,000,000 and a token price of $0.279, it offers a promising opportunity for early investors aiming to benefit from one of the fastest-growing projects in the space. Visit Meme Kombat Presale Wall Street Memes – Fastest Growing Memecoin Leveraging the Power of Community Wall Street Memes is a memecoin announced by the Wall Street Bulls. The NFT collection gained immense success in 2021. The team has been previously involved with multiple NFTs, including the Bitcoin NFTs, and Wall Street Memes is its attempt at creating its first memecoin. Wall Street Memes (WSM) pays homage to Wall Street Bets, the Reddit group responsible for rallying the investors and creating Gamestop short-squeeze. Wall Street memes have already gathered a large community – 1 million followers – over social media platforms – and that community aspect is going to be leveraged to make WSM the fastest-growing crypto of 2024. Wall Street Memes is currently available as a presale which already raised more than $250k on the launch day. Add to that, Wall Street Memes have also caught the attention of the likes of Elon Musk. Memecoins are often powered by the community, and we take the community as the key factor in driving up an asset’s price. Wall Street Memes has already hit the ground running. At the time of writing, the project has been seeing a continuous growth in demand, and is currently available for investors to purchase from the OKX exchange. Buy Wall Street Memes Sei – High Growth Crypto With a Focus on Decentralization Sei is a Cosmos-based layer-1 blockchain that aims to revolutionize digital asset trading, particularly in the decentralized exchange (DEX) ecosystem. Unlike centralized exchanges, Sei prioritizes speed and ease of trading while maintaining the security and decentralization of blockchain technology. The platform’s asset and application-agnostic approach enables access to thousands of tokens across different blockchain applications, making it a versatile ecosystem for decentralized finance (DeFi), non-fungible tokens (NFTs), and Game Finance (GameFi) transactions. This breadth of offerings has earned Sei the moniker ‘Decentralized NASDAQ.’ To address the Exchange Trilemma, Sei employs a Twin Turbo consensus mechanism powered by the Cosmos SDK and Tendermint Core, ensuring optimal performance in speed, security, capital efficiency, and decentralization for decentralized trading apps. Backed by notable figures like Jeffrey Feng, Dan Edlebeck, and Jayendra Jog, Sei has attracted significant investments, including $30 million in two strategic funding rounds and an additional $50 million led by Foresight Ventures. The platform’s native token, SEI, facilitates transactions, staking, and ecosystem incentives, driving its rapid adoption and impressive market performance. With a current price of $0.7 and a market capitalization of $1.7 billion, SEI has demonstrated significant growth potential, leading many to anticipate further gains in the near future. Polygon – Fastest Growing Cryptocurrency in the Defi Space This project gained global recognition and hosts a token that has already seen exceptional returns in the past two years. However, its potential for growth is what makes Polygon a part of this list. The project is known by the wider community as one of the most promising cryptocurrencies in the space and is also among those cryptos that boast massive communities. Polygon was initially launched as the Matic Network in 2017. It was founded by Jaynti Kanani, Sandeep Nailwal and Anurag Arjun, who had substantial experience in the blockchain space already, using their expertise to build the fastest growing cryptocurrency project to come out of India. Polygon aims to be the best Ethereum scaling and infrastructure development initiative. Its core component consists of the Polygon SDK, which is a flexible and modular framework that can efficiently build a variety of applications with ease. Optimistic rollup chains, ZK rollup chains, stand-alone chains, and any other type of infrastructure needed by the developer can all be created using Polygon. Ethereum is basically converted by Polygon into a complete multi-chain system (aka Internet of Blockchains). The native token of Polygon (MATIC) is one of approximately the top 10 cryptocurrencies by market cap (cnrrently 11th) and was among the top gainers during the 2021 bull run. Investors expect the same to happen again and have been buying the asset in huge quantities for the same reason even during this crypto winter. Polkadot – Growing Ecosystem-based Project Created by one of the co-founders of Ethereum Gavin Wood, Polkadot is a highly innovative project which is currently, seeing an increase in engagement on a regular basis. The main idea behind Polkadot is to create a “web of blockchains” where different blockchain networks can interact with each other in a seamless and secure way. This is achieved through a unique architecture called the “relay chain,” which acts as the central hub for the different blockchain networks connected to it. The relay chain is responsible for maintaining the state of the entire system and ensuring that transactions are properly propagated between the different networks. One of the key features of Polkadot is its ability to support multiple types of blockchains, including those that are optimized for different types of workloads. For example, a blockchain that is optimized for high-throughput and low-latency transactions can be connected to the Polkadot network, while another blockchain that is focused on privacy and security can also be connected. This allows for a more diverse and flexible ecosystem of blockchain networks. It is also designed to be more scalable than traditional blockchain networks, and it uses a mechanism called “parachains” to achieve this. Parachains are blockchain networks that are connected to the Polkadot network, but they are able to run in parallel with each other, rather than having to compete for resources on a single chain. This means that the overall capacity of the Polkadot network is much greater than that of a traditional blockchain network. Polkadot’s DOT token is the asset that needs to be staked for being a part of the parachain auctions and is therefore a high-demand crypto by the retail investors too. It had a good price action in 2021, and investors expect the same again as the market turns green again. Verasity – Growing Project Which Solves Ad-Issues The whole point of a cryptocurrency project or the blockchain domain as a whole is to somehow solve real-world problems or enhance certain aspects of technology or commerce. Verasity is one of the best options when it comes to the advertisement scam issue faced throughout the world. The platform aims to provide a decentralized, transparent, and fair way for content creators to monetize their content, and for users to be rewarded for their engagement with that content. One of the key features of the Verasity platform is its “Proof of View” (PoV) system, which is a consensus mechanism that ensures that advertisers only pay for legitimate views of their ads. The PoV system uses a combination of blockchain technology, smart contracts, and a custom-built plugin that runs on the viewer’s browser. This plugin records the viewer’s engagement with the content and sends this information to the blockchain, where it is used to calculate the advertiser’s payments to the content creator. Verasity also has a built-in reward system that allows users to earn VRA tokens by engaging with content, such as by watching videos, commenting on them, or sharing them on social media. Users can then use these tokens to make purchases within the Verasity ecosystem, such as buying premium content or paying for ad-free viewing. The VRA token has amassed a massive fanbase, and its popularity is evidently seen across various social media platforms as well. Due to all these impressive advancements and utility, it is very likely that VRA could see a drastic increase in price in the coming months and cement its position among the fastest growing cryptocurrency projects. Enjin – Fast Emerging Gaming Project in 2024 The blockchain gaming industry was a highly successful category within the crypto sector in the past couple of years. P2E games and similar concepts gained a lot of traction, and continue to do so. It only makes sense that projects that could potentially enhance the experience for such games and categories will also gain popularity. Maxim Blagov and Witek Radomski developed Enjin in 2009 as a platform for a gaming community. However, it grew to be a highly sought-after project within the gamefi space due to its excellent set of features and utility. It is essentially a blockchain-based platform that allows for the creation, management, and exchange of virtual goods. It uses the Enjin Coin (ENJ) as its native cryptocurrency, which is used to back the value of the virtual items created on the platform. Enjin’s technology is designed to be used in a wide range of applications, including gaming, collectables, and NFTs. Its use of smart contracts allows for the creation of unique and verifiable virtual items that can be bought, sold, and traded with confidence. Additionally, Enjin provides a suite of tools and resources to help developers integrate blockchain technology into their games and applications. It has been also widely used in NFT creation, gaming and virtual reality marketplaces. Built on the Ethereum blockchain, Enjin is an open-source and decentralized platform. The ENJ token is sure to have a huge demand since the entirety of Enjin is supposed to be powered by its native token. Investors looking for quickly growing cryptocurrencies should definitely consider ENJ as a viable investment option. How to Pick Out Fast Growing Cryptos There are multiple factors that determine whether crypto can indeed help the investor make profits. While some of them may be valid only under certain conditions, many of them are constant. These factors that are valid under certain conditions could include things like ongoing trends, which could be subject to change at any point in time. However, these are some of the most important things to keep in mind while considering investing in a fast growing cryptocurrency project: Usecase Does the project actually feature a use case or utility in general which could lead to it being adopted by the masses? This is one of the first questions an investor must ask themselves. If the said project aims to solve some issue faced by a huge number of people then they will automatically have an urge or need to use it. Alternatively, an interesting element could also act here as a catalyst for mass adoption. The project must have a unique USP, which could cause the inventions citizenry to look at it as an innovative product. Security A cryptocurrency is an asset of value, which means that money is involved. It is imperative that any project chosen has top security features. A simple way to get started with analysing a project’s security is to check if the team is verified or if the contract code has been audited by reputed organizations. Track the growth and wallet activity of the token as well, as this will give you an idea of how and when funds are moved from the project’s wallet to someone else’s, which could imply risk. If there is unnatural activity within the company wallet, then it may hold the risk of being a scam. Trends The crypto market is still in its infancy, which means that prices may get dictated due to ongoing trends as well. It is important to be aware of the type of altcoins traders and retail investors are most interested in at any given time to be able to make strategic investment decisions. Popularity While this shouldn’t ideally be a major factor, in a practical sense, the popularity of a project indirectly affects its demand and price. Naturally, a good project will gain popularity in a very short span of time too. So it shouldn’t be difficult to spot a good project. However, this changes if the initiative in question is a comparatively newer one. In such cases, look for dedicated social media handles. They will give you a better idea of the organization’s activities and engagement with its community. Also see our guide to the most popular cryptocurrencies this year. Age Newer cryptocurrencies or smaller tokens hold comparatively higher risk, but may also reap massive profits. On the other hand, massive projects with huge market caps could be an easier pick since they offer more stability. But the best course of action for any investor at any given point in time is to simply filter through the other factors and invest in good projects. They can allocate their funds according to their risk appetite, and potentially see great returns irrespective of the market cap or overall size or age of the project. Check out our guide to learn about the fastest-rising crypto sectors this year. Conclusion Every project mentioned in the article has been recommended by us based on the factors we listed above. While they may be in their presale phase or relatively older projects, it is still a wise choice to park funds into almost any of them since each cryptocurrency holds utility and could potentially gain immense value. However, we still recommend you do your due diligence before stocking up on any of the cryptocurrencies mentioned above. Smog (SMOG) - Newest Crypto Launch Rating Fair Launch on Jupiter Free Airdrop Rewards High APY Staking - smogtoken.com Solana Based Meme Coin with ETH Bridge Trending on DEXTools Upcoming CEX Listings Learn More Frequently Asked Questions Which are the fastest growing cryptocurrencies to buy in the short term? The fastest growing cryptocurrencies in the short term would the presale projects like Bitcoin Minetrix, Meme Kombat , Launchpad, and others as they are still in their earlier stages and may gain more popularity in a shorter period of time. Are all growing cryptocurrencies risk free? No. Infact, there is a chance that any crypto may collapse at any given point in time. The best way to invest is to keep track of one's investments while also looking for projects that have further potential in the upcoming months. What is the fastest growing cryptocurrency this year? This is difficult to answer as what goes up, must comes down – and just as quickly in both directions. For example, APE and GMT were at one point the fastest growing cryptocurrencies last year, but both now have corrected sharply. However, Bitcoin Minetrix is the fastest growing crypto right now. How to know which cryptos will grow rapidly? This requires diligent research into the latest trends, whether it be gaming crypto coins, assets related to NFTs and the metaverse, DeFi coins (see the explosive ‘DeFi summer’ of 2021), etc. It also is essential to invest as early as possible, e.g. at the low price offered during a presale period.