What would also be interesting to see is what kind of protection investors would be granted under the law as crypto scammers stole a record $7.7 billion in 2021 from users through a scam termed “rug pulls,” wherein developers abandon cryptocurrency projects and flee with users’ funds. Like what happened recently with a meme coin Squid, whose price surged from $0.01235 to $2860 before falling to zero as crypto owners vanished with over $3 million of retail investors’ money. Though Tesla CEO Elon Musk has been the biggest influencer of Dogecoin, stating that it can be potentially promising, its volatility has been unnerving. Top 5 crypto to buy now This is a head-scratching concept for both beginning and veteran investors. But it’s not such a crazy idea to high-risk investors who frequently trade in volatile assets. A “volatile asset” is an asset that may experience large and rapid changes in value. Penny stocks are a common (and more “socially acceptable”) type of volatile asset. They often pose too much risk for the average investor, but they can yield extremely high returns to those wolves of Wall Street who carefully study marketplace activity.

The Alonzo hard fork, which went live in September 2021, included the incorporation of smart contract capabilities, which was a significant update for Cardano. As a result of this hard fork, ADA is now capable of scaling and operating at a higher speed than it did in the past. In addition to this capability, it enabled ADA to provide the developer community with a DeFi application development platform and enhanced programmability. What Is the Next Cryptocurrency to Explode in 2023? With more than 8,000 cryptocurrencies in existence, it can be hard to decipher which ones will generate the biggest returns for investors. For those new to the space, here are some of the top crypto assets by market cap: