Top blockchain firms with fastest growth to keep an eye on in 2024

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Get ready to keep a close eye on the fastest-growing crypto and blockchain companies in 2024. We have compiled a comprehensive list that highlights the achievements and growth of these companies throughout 2023. These companies have made it onto our watch list for 2024 due to their impressive growth rates last year. However, it’s important to note that regulatory obstacles, market conditions, and security concerns can impact even the most promising firms in the digital currency ecosystem.

Table of Contents:
1. Fastest-growing blockchain companies
2. Fastest-growing crypto exchanges
3. Fastest-growing defi companies and protocols
4. Fastest-growing Bitcoin mining firms
5. Fastest-growing AI and big data companies

Fastest-growing blockchain companies:

Solana:
Solana, one of the fastest-growing blockchains in the previous year, had 2,500 to 3,000 developers working on innovative solutions in 2023. The platform showcased its diverse ecosystem through events like the Solana Season Hackathon, the Breakpoint Conference, and the Solana Solstice Festival. The Solana token, SOL, experienced a massive yearly gain of 920% in 2023, reaching above $100 by the end of the year. As 2024 started, Solana’s total value locked (TVL) surged to a peak of $1.5 billion. The Solana DEX also maintained a strong performance, with over $1 billion in volume for eight consecutive months. Additionally, the platform saw the emergence of community-driven projects, such as Saga, which demonstrated its technical excellence and loyal user base.

Sui:
Sui, a layer-1 blockchain developed by ex-Meta engineers, achieved an impressive valuation of $2 billion after securing $336 million in funding in September 2022. Its mainnet went live in May 2023, leading to a surge in defi activity on its network. Sui’s features, including parallel execution and a new consensus algorithm, enabled its protocols to achieve a TVL of over $175 million by the end of 2023. In addition to technical accomplishments, Sui gained mainstream attention by being featured in a white paper from the World Economic Forum (WEF) in April 2023, recognizing it as one of the blockchain networks capable of enabling climate action.

Cardano:
Cardano stood out for its educational efforts, technological innovations, community involvement, operational reliability, and global outreach. The Cardano Foundation launched the Cardano Academy in December 2023 and introduced tools like Ledger Sync in November, showcasing a commitment to openness and accessibility. Cardano transitioned to the Voltaire era in 2023, leading to debates and the Cardano Improvement Proposal CIP-1694. The Cardano Summit 2023 emphasized operational dependability and highlighted the project’s ongoing development and potential as a reputable blockchain network. Cardano’s native token, ADA, also experienced a 25% surge over the past year.

Fastest-growing crypto exchanges:

HTX (formerly Huobi):
HTX, formerly known as Huobi, celebrated its 10th year of operation in 2023 with a rebranding in September. The exchange claimed the third position among the largest exchanges, with a 7.8% market share in September. HTX Ventures expanded its portfolio to over 200 ventures, covering various sectors such as defi, NFTs, SocialFi, GameFi, AI, layer 1, and layer 2 projects. The company also merged its incubation and research units, demonstrating a holistic approach to supporting its ecosystem partners.

Upbit:
Upbit maintained its second place among the largest centralized exchanges with an 11.5% market share. Unlike other exchanges that experienced significant declines, Upbit saw an uncommon quarter-on-quarter rise in trading volume and witnessed an increase in NFT activity. Upbit collaborated with various NFT projects, including CryptoKitties, CryptoPunks, and Axie Infinity, and dominated the volume growth of the IMX token, the native token of the NFT platform ImmutableX.

Fastest-growing defi companies and protocols:

Uniswap:
Uniswap, one of the largest defi protocols with over $4 billion in TVL, achieved remarkable milestones in trading volume and user growth. It commanded the majority of the defi trading volume in 2023, with a total trading volume of $454 billion and 2.89 million new wallets created. Uniswap launched three new chains and introduced defi rails to strengthen its strategic growth. As the world’s biggest on-chain protocol, Uniswap processed over $1.5 trillion in transactions as of May 2023 and emerged as the top decentralized application (dapp) on the Ethereum network, significantly increasing its liquidity and DEX volume.

MakerDAO:
MakerDAO introduced the Endgame phase, becoming the first truly self-governing decentralized autonomous organization (DAO) powered by artificial intelligence. With revenues of approximately $240 million in 2023 and a change in revenue streams, MakerDAO demonstrated strength and flexibility in a booming market. The market’s positive trend in December 2023 also contributed to the remarkable rise of the MKR token by 34%.

PancakeSwap:
PancakeSwap experienced growth through the launch of v3, Syrup Pools, and deflationary measures. By December 2023, PancakeSwap had a trading volume of $19.56 billion and a TVL above $2.3 billion. The platform implemented measures to create a prosperous ecosystem with less inflation, gradually decreasing CAKE’s availability while enhancing its appeal and price consistency.

Fastest-growing Bitcoin mining firms:

Marathon Digital:
Marathon Digital doubled its active fleet in six months in 2023, reaching 17.7 EH/s. In August 2023, the company mined 1,072 BTC, with a year-to-date total of 7,378 BTC at the time. Marathon Digital also acquired additional miners, increasing its hash rate by 5 EH/s. The company’s total unrestricted cash and Bitcoin reached $445 million as of August 31, 2023, demonstrating its dedication to expanding operations and supporting Bitcoin’s mining network.

Iris Energy:
Iris Energy increased its hash rate capacity by over 25% in October 2023, reaching 7 EH/s. The company aimed to achieve a data center capacity of 10 EH/s by early 2024, showcasing its ambitious plans for growth and eco-friendliness in Bitcoin mining. In December 2023, Iris Energy acquired 8,380 T21 miners from Bitmain Technologies Delaware Limited, with the value of the miners reported to be over $22 million.

Cipher Mining:
Cipher Mining increased its hash rate by 6.5% in November 2023, mining 433 BTC during that month. The company’s latest update confirmed that it mined 465 BTC in December 2023, a significant increase from the previous month. Cipher Mining deployed up to 70,000 rigs and experienced a rise in hash rate and mining activity.

Fastest-growing AI and big data companies:

Render Network:
Render Network targeted the 3D rendering market by leveraging AI and NFT features. The company experienced a growth of 63% in its Render Token and an increase in rendered frames in Q3 2023, showcasing its adaptability to a rapidly changing industry. By utilizing AI, Render Network improved its performance and added new NFT capabilities. Additionally, RNDR, Render Network’s native token, surged by 360% over the past year.

SingularityNET:
SingularityNET steadily grew in 2023 as AI and big data tokens gained prominence. The company appointed a new AI chief of staff to drive its innovation agenda and successfully launched the Cogito Utility Token. SingularityNET also made progress in the AI-DSL project, completing Phase 2 and moving closer to building a smart AI system. The company’s dedication to nurturing creative AI solutions was evident through the success of the Deep Funding program, which supported over 80 promising AI proposals. In December 2023, SingularityNET won the Crypties Award for AI Achievement, highlighting its impact on the AI field.

Akash Network:
Akash Network’s native token, AKT, experienced a remarkable surge of 1,200% due to several updates in August. The company enhanced its “Supercloud” with various upgrades, making it easier for developers to utilize high-performance chips. Akash Network also updated its token economics plan to reduce costs and increase the scale of computing resources, aligning with its vision of building a reliable ecosystem. The company’s integration with SubQuery enabled fast data indexing, showcasing its adaptability to new technologies. The high demand for cloud computing resulted in record GPU leases on the Akash Supercloud, further establishing the company’s influence in both the crypto and AI domains.

In conclusion, these are the fastest-growing crypto and blockchain companies to keep an eye on in 2024. They have demonstrated impressive growth, innovation, and resilience in their respective fields, making them key players in the evolving digital currency ecosystem.