Taking advantage of the good phase of Bitcoin, which broke its old all-time high of 2017, several alternative cryptocurrencies (altcoins) have appreciated more than 8,000% in the last twelve months.
Despite being good news, showing that the sector is heated, it can also be worrying. After all, many beginners may think that it is easy to make money with cryptocurrency trading.
Another point to remember is that the market is huge, and it is natural that good opportunities are lost. However, it is always good to be aware to enjoy the next ones.
1,000 reais invested turned into at least BRL 80,000
Although Bitcoin’s growth was small compared to these currencies, appreciating 273% in the last twelve months, it was the precursor for the price of other projects to grow exponentially.
Starting the list, we have the Axie Infinity (AXS) that came to appreciate more than 18,000% in this period. In addition to the price, its biggest contribution to the industry was the popularization of P2E games (play to win), bringing many people into the universe of cryptocurrencies.
Another one with great appreciation was the Earth (LUNA), rising more than 14,000% in one year and currently occupying the position of 13th largest cryptocurrency. Despite a recent 44% drop, Fantom (FTM) is also racking up a healthy 9,300% profit over the past year.
As well as Polygon (MATIC), the scalability solution for Ethereum, which rewarded its investors with an increase of 9.591%.
The current fifth-largest cryptocurrency in the world, the Solana (SOL), was an unknown a year ago. Because of its fast and cheap transactions, it appreciated by 8.170% against the dollar, and left behind projects like Polkadot (DOT), Ripple (XRP) and Cardano (ADA).
Other meme projects such as Dogecoin (DOGE) and Shiba Inu (SHIB) also had their moments of glory. Its annual valuations are at 8,329% and around 9,400%, respectively, creating new billionaires.
One project that’s been growing in recent days is The Sandbox (SAND), a play-to-earn (P2E) game, with an appreciation of 9,260%. As well, there are several other cryptocurrencies with a lower market value with similar returns.
money comes, money goes
Despite the lively market, it is necessary to be cautious, this is especially true for those who discovered cryptocurrencies recently. After all, in these high moments, called the alt season (altcoin season), almost all cryptocurrencies show strong gains. In other words, you don’t have to be a genius to profit.
Another important point to remember is that many scammers take advantage of this feeling to apply blows, creating dubious projects as was the case with Round 6, which ended up injuring several people.