With the information at hand, here are four coins you would have purchased on October 1, 2020. If you bought $1,000 of each, you’d have more than $250,000 in Bitcoin today. They have not only witnessed huge increases, but they also have significant long-term potential.
1. Solana (SOL)
The lightning-fast smart contract In recent months, Bitcoin has astounded observers by setting all-time high after all-time high. Smart contracts are tiny pieces of self-executing code that elevate blockchain technology to new heights. Smart contracts, as opposed to just recording transactions, live on the blockchain and execute automatically when certain circumstances are satisfied.
Solana has increased by approximately 4,800% from this time last year. To put it another way, if you had purchased $1,000 worth of SOL a year ago, it would now be worth about $50,000.
2. Fantom (FTM)
Fantom, like Solana, is a smart contract crypto platform. What distinguishes it is the use of a directed acyclic graph (DAG), which allows for the processing of transactions in parallel and makes the system more scalable.
It has also witnessed massive returns, with FTM increasing by over 3,000% in the last year. 1 FTM was worth $0.0386 on October 1, 2020, and it is now worth $1.21.
3. Terra (LUNA)
Terra has increased by more than 12,000 percent in the last year, propelling it into the top 50 cryptocurrencies by market capitalization. Terra is a pioneer in what are known as algorithmic stablecoins. Stablecoins avoid the volatility that characterises traditional cryptocurrencies because their value is tied to another commodity, such as gold or the US dollar.
4. Polygon (MATIC)
In general, cryptos alleviate the challenges that previous cryptocurrencies such as Bitcoin or Ethereum have in two ways. They can either start from scratch and construct a new, improved blockchain, or they can design a “layer 2” solution that sits on top of the old blockchain and processes transactions faster and cheaper.
A frequent layer 2 solution is polygon. It is unique in that it does not provide only one alternative; instead, it is a scaling solution aggregator. Developers can take the path that is most convenient for them. Its value has soared by more than 5,500% since last year.