Updated: Jan 25
NOTE: These are some examples of crypto with potential - it is not a comprehensive list. This is not financial advice. Please note our financial advice statement.
Crypto prices are closely linked to the very volatile rises and falls in Bitcoin, although there has been some movement away from this trend recently. Bitcoin fell steeply this week, for a number of reasons, and we saw losses across the board. Of course proponents would say this is a good time to buy, but let's look at some options amongst the many currencies available.
As of 2021, cryptocurrency has fluctuated widely and hit high in the bear markets. The currency is called super volatile as its value goes up, and down, very quickly. While it is risky to invest heavily in digital assets, the most promising opportunities are anticipated in the coming years. Several notable coins have been hit highs in the market. Several other coins are used as a substitute for cryptocurrencies, and it is predicted that they will soon surpass cryptocurrencies.
Some contenders likely to become significant cryptocurrencies include Solana, Binance coin, Polygon, Avalanche token and Kitty Inu.
1. Polygon (MATIC)
Polygon was built on Ethereum, whose intention was to make it a multi-chain system. The coin is funded partially by Binance and coinbase. It has surged in value to about $2 in the market. The most recent stability test reached highs of 21%, making it one of the best cryptocurrencies to invest in. Polygon intended to develop a more versatile and cryptocurrency ecosystem scale. This enables more rapid adoption of crypto and means it is a solidified cryptocurrency to invest in.
2. Avalanch Token (AVAX)
AVAX has enjoyed a net increase in market share. It was founded by a trio of Cornell University-affiliated computer science researchers. The AVAX coin at the beginning was trading at $3.17, but currently, it has risen to around $80. This shows rapid growth in market share and aims to surpass the Ethereum blockchain. Users can move the blockchains from one cryptocurrency to another through bridges. This is one of the significant advantages of having the Avalanch Token. It appears set to become a prominent cryptocurrency in the future.
3. Kitty Inu (KITTY).
This impressively hit the market cap at about $100 billion, up from a previous cap of $14 million. KITTY yields massive benefits but is the riskiest cryptocurrency to invest in. It is also the smallest on this list in terms of market cap.
4. Celsius (CEL-USD)
Celsius was introduced to the market in 2017 by Alex Mashinsky and his close associate Daniel Leon. Celsius currency uses blockchain technology to convert, trade, and store electronic signals. If used as a payment method, it can boost the payout due to its high value compared to the dollar. Celsius trading takes place on the Celsius mobile app or Celsius website. It is currently rising in value and probably will be at great heights in the coming years.
5. Cardano (ADA)
Cardano consumes extremely low energy levels against bitcoin networks and the mining process. This cryptocurrency is used for investment purposes and payments and is consequently well accepted.
6. Binance Coin (BNB)
Currently, Binance is issued on its blockchain, unlike before, where it was based on Ethereum. Binance is presently the third-largest token in the market, accounting for 4.1% in the crypto market. Its dominance rose from 0.7% as the year started. Initially, it scored from 10 cents which were its initial coin offering, but today it is on another level, around $550. The growth of this coin will be facilitated by its popularity. It is the world's single and most significant cryptocurrency exchange. Consequently, it is likely to become one of the biggest cryptocurrencies in years to come.
7. Terra (LUNA-USD)
It was launched in January 2018, and it uses fiat-pegged stable coins to carry on its payment. Luna token is used as a stabilizer of the protocol algorithmically. It has gained around 80% in value in a couple of weeks, ranking one of the best crypto market performers. Luna has overtaken in importance the Shiba Inu and Avalanche's AVAX. This makes it likely to become the next most prominent cryptocurrency.
8. Flow (FLOW-USD)
It was developed by Dapper Labs back in 2018 as a decentralized blockchain infrastructure that was meant to function as a base protocol for the new generation applications, digital assets, and games. Flow tokens are designed for the following purposes; enhancing network fees, making rewards and making payments as a reserve asset in the long run. Flow network is made unique by specific features: in-built logging support, customer-friendly onboarding, upgradeable intelligent contracts, and high throughput without sharding.
9. File Coin
It is a file storage protocol designed to utilize unused global data storage. It ensures that file storage is permanent and distributed across the web. File coin is a decentralized storage network, and the customers who must access the storage will first pay for the storage. The file coin initial offering increased by $1 for every $40 million raised, capping at $6 per token. Since 2017, the file coin team has raised over 200 million dollars. File coin is likely to become a prominent cryptocurrency soon.
10. VET (VeChain)
VET is an in-house token of the VeChain family. It is powered by blockchain, and it is a supply chain in nature. It utilizes the Internet of Things to solve supply chain challenges. The reputation reaped by VET generated during COVID-19 has proved that it can conquer the competition. It's cheaper to trade with VET, guaranteed transparency, and efficient and effective to operate with. It is predicted that VET will rise in value after the end of COVID-19.
11. SHIB (SHIBA INU)
SHIB is ranked number fourteen and can shake the crypto market. It has a market cap of 20.37 billion and a volume of 464. 87 million. After its invention in 2018, it shook the market in August 2020 when the value suddenly surged. Its surge was prompted by the influx of new traders and the partnership with DOGE. The founder of Tesla, Elon Musk, influenced the rise in value for SHIBA. It is predicted to rise in 2022, thus threatening the market.
12. SOLANA (SOL)
This currency has an impressive reputation for meteoric growth. Compared to its low start at the beginning of the year, it has hit the top ten cryptocurrencies in the market by September. In November, it increased from 0.01% of the need to more than 2.6% by early December. The protocol was built for the facilitation of more accessible Dapps. Its network is a bit faster than that of Ethereum. The advantages are; lower transaction fees, a developer-friendly network, a maturity ecosystem, and a promising future. Solana is likely to become a massive cryptocurrency in the future.
Cryptocurrency has shaped the financial world and brought new investment opportunities. Today, cryptocurrency lies at a similar level to gold in value. If you have money to invest in cryptocurrency, it may yield four times the original value within five years.
But buyer beware - while it is fun to invest in cryptocurrency, the market demands complete knowledge; the market is volatile and you still risk loss.
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