The total cryptocurrency market capitalization has breached the billion-dollar mark, with Bitcoin dominating 43.04 percent of the market. The crypto market has seen a massive surge in investors, many of them looking for the next 100x or 1000x coin. In this article, we will discuss the biggest and most promising crypto coins in the crypto space. Having solid use cases, below mentioned crypto coins have the potential to become the next cryptocurrency to explode and witness a surge in demand and market cap.
Most of the cryptocurrencies in the list below trade on major crypto exchanges, including Binance and Coinbase. Before diving deeper into the list of these coins, we must look into few important features that drive the value of these digital assets.
Smart contracts are getting popular each day. These are digital agreements that get executed when the condition mentioned gets satisfied. Smart contract developers are increasing in number too. Crypto enthusiasts are always into smart contract cryptocurrency platforms like Cardano.
Recently, we also saw a huge surge in the price of Cardano, as the blockchain platform gained the 3rd spot in the crypto market. Ethereum and Binance Smart Chain are other two famous networks known for their amazing performance in the past month.
Transaction fees and fees on crypto exchanges
People use cryptocurrency exchanges for instant transactions and low fees. Crypto investors are always looking for crypto assets that solve Bitcoin’s scalability issue.
Higher scalability comes at the cost of loss in the decentralization of blockchain technology. Hence, it is essential to under how the crypto project you have invested in delivers a scalable solution.
To replace traditional currencies as the mode of transaction, the blockchain networks should also be able to hold more transactions.
NFTs are popular in the crypto market
Nonfungible tokens attract a lot of attention. The whole copyright/proof of ownership is utility enough on its own, however, for those who see a broader future for this type of technology, some of the potential benefits may be brought about by the further development of this technology.
As the market develops, both buyers and sellers should proceed cautiously. Although the broad-based application of NFTs has not yet occurred, the groundwork is being laid for more widespread uses, proponents of the technology assert.
The Ethereum network takes the lead when it comes to NFTs. This past week, TikTok announced that it would be collaborating with Ethereum and ImmutableX to build NFTs. An NFT is a digital token that can store audio, video, or images in the form of tokens.
Many decentralized applications are now working on this technology. NFT marketplaces are also becoming popular among the artist community. Beyond a means through which to validate ownership of something, what more is there to the tech that might be worth looking forward to? Here are some speculations.
We must enhance the user experience to make it more relevant, simple and enjoyable for business users and individual consumersEvin McMullen, co-founder of Serto, a Consensys company
Crypto investors watch for the use cases
The use cases and the number of partnerships a crypto project has matters a lot for the investors. The higher the number of partnerships, the more lucrative the projects feels to other customers.
The better the technology, the higher the number of use cases. Therefore, it is advised that people should never invest in coins that won’t be around for 10 years from now. Bitcoin isn’t the best use case when it comes to actual crypto use but observers note that Ethereum and XRP are probably the ones with the best use cases.
Currency-wise, BTC dominates, is most invested, and is most widely adopted. But people are building all sorts of apps and businesses to run on the Ethereum blockchain in ways that the Bitcoin blockchain wasn’t intended.
Next crypto that will explode in 2021
There are plenty of cryptocurrencies that will form the next 10x or 100x token. Some assets like Bitcoin Cash made their all-time highs years ago but are still not able to reach that point. Before investing in a project, you should take time to figure out if that coin is good for global transactions.
There’s a story that I like to repeat to all who would listen on why Ethereum came to be:
I happily played World of Warcraft during 2007-2010, but one day Blizzard removed the damage component from my beloved warlock’s Siphon Life spell. I cried myself to sleep, and on that day I realized what horrors centralized services can bring. I soon decided to quit.Vitalik Buterin, Source: About.Me
Ether is the second-biggest cryptocurrency by market capitalization in the crypto market. The total value of the market cap of ETH is 387 billion USD which is still lower than Bitcoin’s market cap of 297 billion USD. The dominance of the token is more than 18%.ETH is the native token of the Ethereum network that has been around since 2013.
Ethereum is the Network where many decentralized apps are built. The Network has been in talks since the London hard fork, which consists of 5 Ehereum Improvement Proposals or EIPs. ETH is also popular because of NFTs.
The recently launched EIP-1559 introduced better scalability and reduced gas fees for the Network. The Ethereum network is known for being congested. TIME magazine recently released its own NFT collection on the Network. Ethereum blockchain will also partner with TikTok for the release of a series of the nonfungible token by as many as seven celebrities.
Many people believe that Etheruem is the next Bitcoin, and in the future, the low-cost transactions will lead to Ethereum dominance in the market.
Binance Coin (BNB)
This is another big crypto token that has attracted a lot of investors. BNB is also the next cryptocurrency to explode in the world of decentralized finance. It is the native token of Binance, the biggest crypto exchange in all of the world. You can buy crypto using Binance as it contains BNB and other coins as well.
In a period of 52 weeks, the coin saw the lowest price of 25.89 USD, while the highest was 690.93 USD. Although BNB represents high volatility, it is a good long-term investment.
Investors keep an eye on BNB as it is a potential Ethereum killer. Transactions are faster, and BNB is supported by the Binance Smart Chain or simply BSC. Although Binance faces a lot of regulatory issues right now, we can also see that the centralized approach of BNB cryptocurrency is a problem as well.
Cardano (ADA) recently acquired the third place in the cryptocurrency market and is regarded that ADA will replace Ethereum in the near future. Cardano has seen a massive surge in the month of August as the coin made an all-time high on 2nd September of $3.10. Alonzo mainnet went live, which led to this bullish rally of the cryptocurrency.
Cardano is a favorable network for NFTs. The advancement of non-fungible tokens in the music industry led to several partnerships of celebrities with the Cardano network. In the recent Cardano Summit 2021 on 27th September, ‘Starship Universe’ was announced. This is an NFT collection in which thousands of NFTs will be released on the platform.
This project is led by Alon Shulman. DJ Paul Oakenfold will also release his new album on the Cardano network. Considering the impressive adoption rate of this Network, we will new all-time highs pretty soon.
Solana (SOL) is a popular smart contracts platform that is also considered an Ethereum-killer. Solana is a proof of stake platform that has seen an increased adoption rate recently. Solana has performed incredibly well in recent weeks.
In the past 90 days, SOL has witnessed the lowest price of 22.18 USD, while the highest price witnessed was 214.96 USD. This shows that in just 90 days, the price surged by a little less than 10 times.
Solana also follows the unique Proof-of-History consensus, which boosts the network speed as well as transaction speed. The platform guarantees that the speed and effectiveness of the Network will be better than other cryptocurrencies.
More than 400 decentralized finance (DeFi) projects are currently running on the Solana (SOL) ecosystem. These projects also include the popular stablecoin, the USD Coin, or USDC.
A major comparison between Solana and Ethereum is made in their programming languages. Ethereum’s language Solidity doesn’t work on Solana as the latter considers its own language, Rust, better.
Polkadot (DOT) is another promising token that was created by a co-founder of Ethereum Foundation, Gavin Wood. Cardano is another network founded by an Ethereum co-founder. Polkadot is also regarded as an Ethereum killer that has vowed to solve the gas fee and congestion issue with Ethereum.
Furthermore, Polkadot has the unique quality of processing transactions on multiple blockchains simultaneously. This makes it faster than Ethereum, and for this cross-chain connectivity, Polkadot has been termed the “Internet of Blockchains.”
The parallel processing of blockchain helps improve network scalability. The market capitalization of DOT is 31 billion USD.
VeChain is another token that has risen by huge percentages in recent months. It has been in existence since 2016 and partnered with Thor to form the VeChainThor Network. There are two tokens that the Network presents, one VET and the other VTHO.
We will be more concerned with the VET token because it has performed incredibly well. The existence of VeChain is mainly concerned with the issues brought by supply chain models. These supply chain models exist mainly due to fiat currencies, and the VET token is there to disrupt this entire model.
The usage of VeChain includes the involvement of trustless automation. In a venture, founders can implement the Network to easily track products that the firm handles when it comes to supply chain models.
While there are plenty of things a client sees in a product, transparency is one of them. Therefore, VeChain aims to solve all the money-related issues that are present in a business. Money transparency will attract businesses and clients as well.
Cosmos (ATOM) is also the next cryptocurrency to show a bullish surge in price. In 90 days, the token has seen the lowest price of 8.98 USD and the highest price of 44.70 USD. According to our investment advice, if you have bought ATOM tokens, now is not the time to sell coins.
Cosmos network seeks to eradicate the fragmentation issue that worries many investors and developers in the blockchain industry.
Cosmos is also termed as the “Blockchain 3.0,” the ultimate goal is to make the usage of blockchain easier. Ultimately, the complex blockchain-based applications that people find difficult to use will easily be able to work and use such DeFi applications.
The above tokens have seen a surge in their overall trading volume, and in just a few weeks, these coins have seen huge prices surges. This considered investment advice is based on recent market analysis and partnerships of these crypto projects.
Gradually people are joining the cryptocurrency market but without proper knowledge of the project they are investing in, people have lost a lot of money.
Therefore, the above list contains the best cryptocurrencies which have the potential to buy hundreds to thousands of percentages.
But, there are some other currencies that deserve a special mention:
- UniSwap (UNI)
- Fantom (FTM)
- Monero (XMR)
- Dogecoin (DOGE)
- Shiba Inu (SHIB)
- Polygon (MATIC)
- Terra (LUNA)
- Chainlink (LINK)
- Tron (TRX)
- The Graph (GRT)
- Stellar Lumens (XLM)
These coins have also shown incredible adoption rates and performance. It is imperative that you play safe before investing in a cryptocurrency. Any of these coins could be the next cryptocurrency to explode.