Next Cryptocurrencies to Explode in 2021
Cryptocurrency is an ever-expanding ecosystem, and it can become challenging to keep track of all the latest trends and upcoming currencies. However, as expansive as it is, it is also volatile and requires an in-depth understanding of the market to mitigate losses.
There are over 6,000 cryptocurrencies according to a report in 2021 compared to only a handful of coins since the inception of Bitcoin in 2009. In these 6,000+ cryptocurrencies, only a hundred are performing well in the present market. However, choosing the top few cryptocurrencies from this list can be a challenging task at the least.
Today, we will be discussing the top five cryptocurrencies to watch out for in 2021.
- Bitcoin (BTC)
Market Cap: Over 1 Trillion
Bitcoin is the most popular cryptocurrency created in 2009 by Satoshi Nakamoto. BTC is the first cryptocurrency that initiated the concept of blockchain and peer-to-peer transactions.
Being the top cryptocurrency in both trading volume and price list, Bitcoin is also most prone to volatility. Earlier this year, the price of Bitcoin surged to about $70,000 before tumbling down to around $35,000. Currently, Bitcoin is trading at $54,985.28 and is starting to climb again.
- Ethereum (ETH)
Market Cap: Over 425 Billion
Ethereum is a cryptocurrency and a blockchain network famous among crypto developers because of its several features such as smart contracts, dApps, NFTs, etc. Ethereum blockchain is a go-to blockchain because of its interoperability and smart use cases.
ETH currency in itself has an exponential growth chart starting from just $11 to reaching a grossing $3,096.80.
- Tether (USDT)
Market Cap: Over 69 Billion
Tether is a stablecoin that differs from regular cryptocurrencies as it is backed by fiat currencies. Tether is backed by US Dollar and the Euro dollar which helps the currency to remain stable during the high volatility periods.
Tether has had a relatively stable growth chart and is currently trading at $1.00.
- Cardano (ADA)
Market Cap: Over $72 Billion
Cardano is another blockchain and cryptocurrency such as Ethereum but with a different consensus algorithm. While Ethereym uses the Proof of Work protocol, Cardano has embraced the use of the Proof of Stake validation method which not only decreases energy usage, but also increases transaction speed at low costs.
Cardano’s token has seen a relatively modest growth starting from a low of $0.02 to reaching the current price of $2.27.
- Binance Coin (BNB)
Market Cap: Over $65 Billion
Binance started as one of the largest crypto exchanges to launch its own current Binance Coin and a blockchain network, Binance Smart Chain. Since its inception, the crypto exchange has become a full-fledged blockchain network with unparalleled interoperability and cross-chain compatibility.
The Binance Coin started at a low price of $0.10 on Sept 20, 2021, to reach the present price of $423.53
These are some of the most popular cryptocurrencies that are sure to rise in the bull market, which has recently begun. All of these cryptos have their own set of advantages and can help investors to make quick or long-term profits.