Fastest-growing blockchain companies to watch in 2024

We've compiled a list of the fastest-growing cryptocurrency and blockchain companies to watch closely in 2024.

This detailed exploration highlights the achievements and growth metrics of the fastest-growing blockchain companies, providing insight into their developments throughout 2023. Their growth rates last year have placed them on the list of entities to watch. account in 2024.

However, regulatory hurdles, market conditions, and security issues can impact even the most promising companies in the digital currency ecosystem.

Fastest growing blockchain companies

solarium

With 2,500 to 3,000 developers labor In terms of innovative solutions in 2023, Solana was one of the fastest growing blockchains in the previous year.

The platform showcased its rich and diverse ecosystem through events such as the Solana Season Hackathon, the Breakpoint Conference and the Solana Solstice Festival.

Solana's token, SOL, posted one of the biggest annual gains of 2023, soaring 920% from January to December 2023, ending the year above the $100 mark. Solana's total value locked (TVL) increased to a maximum of $1.5 billion in early 2024.

The Solana DEX maintained a strong performance, with more than $1 billion in volume for eight consecutive months. The platform also witnessed the emergence of many community-driven projects, such as Saga, which demonstrated its technical excellence and loyal and active user base.

sui

Sui, a layer 1 blockchain created by former Meta engineers, achieved a notable valuation of $2 billion after raising $336 million in funding in September 2022. Its mainnet went live in May 2023 , which caused an increase in defi activity on its network.

Am characteristicssuch as parallel execution and a new consensus algorithm, allowed their protocols to reach a TVL of more than $175 million by the end of 2023.

In addition to technical achievements, Sui also attracted widespread attention last year, appearing in a World Economic Forum (WEF) whitepaper in April 2023, which outstanding the protocol as one of the blockchain networks capable of allowing climate action to scale.

Cardano

Cardano stood out for its educational efforts, technological innovations, community engagement, operational reliability, and global reach.

The Cardano Foundation launched the Cardano Academy in December 2023 and tools like Ledger Sync in November, showing a commitment to openness and accessibility. Cardano recorded a change towards Voltaire era last year, sparking debates and the Cardano CIP-1694 improvement proposal.

The Cardano Summit 2023 emphasized operational reliability, showing the continued development and potential of the project as a reputable blockchain network.

Cardano's native token ADA also recorded a 25% increase over the past year.

<h2 class="wp-block-heading" id="fastest-growing-crypto-exchanges”>Fastest Growing crypto Exchanges

HTX (formerly Huobi)

HTX, formerly known as Huobi, marked its 10th year of operation last year with a rebrand in September. The exchange crypto-exchanges-market-share” target=”_blank” rel=”noopener”>reclaimed third position among the largest exchanges with a market share of 7.8% in September.

HTX Companies increase its portfolio to over 200 companies, covering various sectors such as defi, nft, SocialFi, GameFi, artificial intelligence (ai), layer 1 and layer 2 projects. It also merged incubation and research units, showing a holistic approach to help its ecosystem partners.

Upbit

Upbit maintained its second place among the largest centralized exchanges with a market share of 11.5%. It also saw a rare quarter-on-quarter increase in trading. crypto/news/upbit-outshines-coinbase-and-okx-in-monthly-trading-volume” target=”_blank” rel=”noopener”>volume and a boost in nft activity when other exchanges saw considerable declines.

nft activity surged on Upbit as the IMX token, the native token of the ImmutableX nft platform, nft-platform-immutabexs-imx-token-surges-35-with-upbit-leading-volume-growth-1032645277″ target=”_blank” rel=”noopener”>cattle 35% by September 2023, with Upbit dominating volume growth. Upbit also collaborated with several nft projects, such as CryptoKitties, CryptoPunks, and Axie Infinity.

One of the main reasons behind the growth of HTX and Upbit could be the regulatory hurdles and lawsuits that the leading crypto exchange, Binance, has been facing since the third quarter of 2023.

Fastest growing defi companies and protocols

Uniswap

Uniswap, one of the largest defi protocols with over $4 billion in TVL, showed notable achievements in trading volume and user growth.

With a total trading volume With $454 billion in 2023 and 2.89 million new wallets created, Uniswap captured the majority of last year's defi trading volume. The launch of three new chains and the introduction of defi rails emphasized its strategic growth.

As the world's largest on-chain protocol, Uniswap showed its dominance by Processing over $1.5 trillion in transactions as of May 2023 and emerging as the leading decentralized application (dapp) on the ethereum network, significantly increasing its liquidity and DEX volume.

manufacturerdao

MakerDAO presented the endgame phase become the first truly autonomous decentralized autonomous organization (DAO) powered by artificial intelligence.

With annual income of around $240 million and a shift in revenue streams, MakerDAO demonstrated strength and flexibility in a booming market.

The positive market trend in December 2023 also fueled the notable 34% rise of the MKR token.

pancake swap

PancakeSwap grew in several ways with the release of v3, Syrup Pools, and deflationary measures. PancakeSwap had a trading volume of $19.56 billion and a TVL above $2.3 billion by December 2023.

PancakeSwap launched several measures to achieve ULTRASOUND CAKE to create a prosperous ecosystem with less inflation. These measures involved gradually decreasing the availability of CAKE, increasing its attractiveness, and improving its price consistency.

<h2 class="wp-block-heading" id="fastest-growing-bitcoin-mining-firms”>Fastest Growing bitcoin Mining Companies

Digital Marathon

Marathon Digital doubled its active fleet in six months last year. bitcoin-production-and” target=”_blank” rel=”noopener”>achieving 17.7 EH/s. In August 2023, bitcoin-Production-and-Mining-Operation-Updates-for-August-2023.html” target=”_blank” rel=”noopener”>mined 1,072 btc and 7,378 btc so far this year at that time, acquiring miners for an additional hash rate of 5 EH/s.

Total unrestricted cash and bitcoin of $445 million as of August 31, 2023 showed Marathon Digital's dedication to growing operations and supporting the bitcoin mining network.

iris energy

In October 2023, Iris Energy increased its hash rate capacity by more than 25%, reaching 7 EH/s. This came after its hash rate capacity increased to 5.6 EH/s in June. Iris Energy aimed to have a data center capacity of 10 EH/s by early 2024, demonstrating its bold growth and environmentally friendly plans in bitcoin mining.

The btc mining company acquired 8,380 T21 miners from Bitmain Technologies Delaware Limited in December 2023; The miners' worth is reported to be over $22 million.

crypto mining

In November 2023, Cipher Mining increase its hash rate by 6.5% compared to the previous month. The company mined 433 btc in November, with up to 70,000 rigs deployed.

Your last update confirmed that the company mined 465 btc in December of last year, a notable increase over November's figure.

<h2 class="wp-block-heading" id="fastest-growing-ai-and-big-data-companies”>Fastest growing artificial intelligence and big data companies

rendering network

Render Network leveraged ai and nft capabilities to target the 3D rendering market. The company saw a notable 63% growth in its Render Token and an increase in rendered frames in Q3 2023, demonstrating its ability to adapt to a rapidly changing industry.

Using ai, Render Network ai-power-1bd3797bc2f2″ target=”_blank” rel=”noopener”>improved its performance and added new nft capabilities.

Furthermore, RNDR, the native token of Render Network, also recorded a 360% increase over the past year.

SingularityNET

SingularityNET grew steadily in 2023 as ai and big data tokens took center stage. The company hired a new ai chief of staff to drive its innovation agenda. Additionally, SingularityNET saw the successful Cogito Utility Token launch and more marketing and outreach activities.

The company finished Phase 2 of the ai-DSL project, moving towards building an intelligent ai system. SingularityNET won the 2023 Crypties Award for Achievement in ai in December, highlighting its impact on the field of ai.

The firm also made progress with Round 2 of Deep Funding, a SingularityNET program that supported more than 80 promising ai proposals. This program showcased the company's dedication to fostering creative ai solutions through a funding platform.

Red Akash

Akash Network's native token AKT recorded a remarkable 1200%, boosted by a series of upgrades in August. The company improved its “Supercloud” with several updates, making it easier for developers to use high-performance chips like the NVIDIA A100 and H100.

The company also updated its multi-stage token economy plan to reduce the cost and increase the scale of computing resources, reflecting its vision of building a reliable and effective ecosystem.

Additionally, Akash Network received nominations for crypto Project of the Year by Coinage and recognition for its work in ai, demonstrating its growing influence in both the crypto and ai domains.