Top 5 Cryptocurrencies That Turned US$10K into US$1 Million

The aggregate value of major cryptocurrencies has more than tripled this year

A cryptocurrency (or "crypto") is a digital currency that can be used to buy goods and services but uses an online ledger with strong cryptography to secure online transactions. Currently, the crypto market is producing good news for crypto lovers. With the recent surge in Bitcoin and Ethereum, the global crypto market cap spiked up to US$3 trillion. Much of the interest in these unregulated currencies is to trade for profit, with speculators at times driving prices skyward. This article features the top five cryptocurrencies that turned US$10,000 into US$1 million in 2021.

Shiba Inu

Shiba Inu (SHIB) is a token that aspires to be an Ethereum-based alternative to Dogecoin (DOGE), the popular memecoin. Unlike Bitcoin, which is designed to be scarce, SHIB is intentionally abundant — with a total supply of one quadrillion. The Shiba Inu Token ecosystem supports projects such as an NFT art incubator and the development of a decentralized exchange called Shibaswap.

Axie Infinity

Axie Infinity is a blockchain-based trading and battling game that is partially owned and operated by its players. Inspired by popular games like Pokémon and Tamagotchi, Axie Infinity allows players to collect, breed, raise battle, and trade token-based creatures known as Axies. Axie Infinity was created in 2018 by Sky Mavis — a technology-focused game developer with a team primarily based in Vietnam. It was co-founded by Trung Nguyen and Aleksander Larsen.

The Sandbox

Launched in 2011 by Pixowl, The Sandbox is a blockchain-based virtual world allowing users to create, build, buy and sell digital assets in the form of a game. By combining the powers of decentralized autonomous organizations (DAO) and non-fungible tokens (NFTs), the Sandbox creates a decentralized platform for a thriving gaming community.

Solana

Solana is a public blockchain platform. It achieves consensus using the proof of stake mechanism. Its internal cryptocurrency is SOL. In 2021, Bloomberg journalist Joanna Ossinger described Solana as "a potential long-term rival for Ethereum", citing superior transaction speeds and lower associated costs.

Cardano

Cardano is a public blockchain platform. It is open-source and decentralized, with consensus achieved using proof of stake. It can facilitate peer-to-peer transactions with its internal cryptocurrency, Ada. Cardano was founded in 2015 by Ethereum co-founder Charles Hoskinson.