What is The Next Biggest Cryptocurrency?
The cryptocurrency world recorded one of the highest growths between 2020 and 2021. Currently, capitalization in the crypto market went beyond the $2.9 trillion mark, with Bitcoin leading the market at $1.07 trillion.
For about a decade, Bitcoin and Ethereum have dominated the market and some people think Bitcoin is the cryptocurrency and all other coins are something else. You might be surprised to know there are more than 6,000 crypto coins in the market. Some of them are performing very well and they could be the next big thing to watch out for.
Dogecoin – DOGE
If you are planning on investing in crypto, DOGE might be something to seriously consider. It was launched four years after Bitcoin and it has sustained steady growth since then. Currently, it has a market cap of $27.3 billion and it’s trading at $0.21 in the coin market.
When it was first launched in 2013, the coin was mainly used to give tips on online platforms and sometimes for donations. What is making this coin grow fast is the fact that miners have no limit on the number of coins they can mine.
Today, the coin is not limited in supply and as 2021 closes, it has risen 45 times in volume and price. DOGE is not likely to slow down soon and it might be advisable to buy the coins now and hold on till a future date.
Binance – BNB
Behind Bitcoin and Ethereum is Binance, one of the most promising crypto coins for both short-term and long-term buyers. According to an online service, its market share currently stands at $100 billion. It was launched in July 2017and began to trade on its own public blockchain in 2019.
After Ethereum fees soared, BNB began to rise in popularity and rose through strong competition to where it is today. At first, BNB was used as an ETH’s ERC- 20 token until it started trading on the blockchain platform.
What makes this coin unique is that its coins were mined before their initial price offering, which was at $0.10. Within 2021, BNB has shot from about $40 to more than $680. Looking at how fast the BNB price is rising, investors might want to keenly study and invest in the coin.
USD Coins – USDC
USDC is one of the most stable coins in the cryptocurrency world. The coin is an ETH token and is compatible with ETH applications. Compared to other crypto coins, USDC is more stable because 1 USDC is equivalent to 1 USD.
With a market cap of $39 billion and trading at $1, the only disadvantage with this coin is its price which is tied to the USD. However, since the USD is a leading currency globally, this makes USDC a worthwhile investment. It makes a good investment for those who want to speculate or to buy for long-term investment.
More investors are buying USD coins because they foresee a less volatile market and one that gives them several useful options. They can easily move their investments across crypto exchanges, lend them to borrowers, or transfer money using this stablecoin.
Solana – SOL
If you are looking for hypergrowth in the crypto market, Solana might be an excellent choice. The coin was launched in early 2020 and has grown exponentially to the current market cap of $68.3 billion and a current trading price of $224.89 in the coin market.
It is one of the first-choice alternatives to buyers looking for an ETH alternative. Its fees are very minimal and it’s widely accepted as an alternative payment method. For the few years it has traded, SOL has steadily recorded over 15 thousand percent annual growth.
The coin is one of the new short-term market catalysts investors are looking at and this is one of the reasons it has remained a top performer throughout 2021. Analysts see this crypto coin as a great choice for investment. They predict it will hold its ground and continue as one of the top performers into the coming year and probably in the next three to five years.
Tether – USDT
Top of the list of the best crypto for beginners is Tether because it’s ranked as a popular stable coin. The crypto coin is based on blockchain technology and is tied to the USD, which gives it a 1:1 ratio against the US dollar.
The coin is highly liquid because investors can easily convert it into cash and vice versa. It is noteworthy when trading with stablecoins that they mostly have tight margins because of factors such as liquidity, demand, and supply. You require to trade in bigger volumes to gain significant margins, especially when the market is too volatile.
Terra – LUNA
Launched in early 2019, Terra – LUNA is setting pace fast in the cryptocurrency market.
Recently, many governments around the world are accepting cryptocurrencies and are eying the sector as a huge potential for collecting tax.
Terra is at the forefront and recently, its stakeholders voted for a proposal for the development of a platform where traders will be using tax software during trading. It is will make it easier for traders to submit reports to tax bodies for assessment.
The crypto coin is currently trading at $62.59 and has a market capitalization of $24.4 billion. There are over 400 million Terra coins in circulation and it’s a fast-growing crypto coin to watch.
Celsius – CEL-USD
Celsius could be the next big cryptocurrency soon because within four years, its price has risen to the current $62.91 and it’s continuing to rise. Its market capitalization has hit an all-time high at $5.11 billion and it has proved itself as one of the most promising crypto coins.
Recently, CEL-USD began to offer loans at terms that are incomparable to traditional financial services. Borrowers get better returns on their savings and deposits. Its platform is also a wallet that features unique CEL tokens. On all its profits, at least 80 percent goes back to users.
Owing to the huge benefits investors are destined to receive, Celsius has already set the pace to become the next big cryptocurrency shortly.
Monero – XMR
Monero provides total anonymity to users through a series of ring signatures and stealth addresses. Its security parameters do not give traders a choice but once signed into the system, you become anonymized.
That means a receiver will never know the sender unless they reveal themselves through other channels. Some traders believe its current market cap value of $4.16 billion is undervalued and are buying it to keep.
Experts believe that Monero’s price will rise to about $1,400 within the next five years from the current price of about $230.
Ripple – XRP
Unlike most crypto coins, XRP is more scalable and can process a huger number of transactions every second. That means the transaction cost is lower and allows investors to save more.
Due to its huge investments in the financial field, it has not gone unnoticed by the US Securities and Exchange. XRP is already under scrutiny but this doesn’t seem to affect its performance at all.
Since its launch in 2012, Ripple has made an incredible 12,756% return on investment to its investors. You might want to invest all your savings in this crypto coin but remember it’s a volatile market and you might gain or lose everything. The platform offers payment solutions through a public ledger.
Waves – WAVES
The WAVES platform is used for building tokens, dApps, and smart contracts. The bult tokens can be used to give rewards, vote, make payments, and give incentives to miners. It’s compatible with the ETH platform because it’s an ERC-20 token.
Waves is currently trading at $23.23 and has a market cap of $2.2 billion. Developers create waves coins fast because they don’t require complex smart programming techniques. They can easily manage or create tokens using scripts on their accounts.
The crypto coin has been slow since its launch in 2016. Compared to other fast-growing coins, its price is yet to reach $30, close to six years of its existence. For the last three months, the coin has been growing steadily and experts say its price might rise to $50 within the next few months.
2021 recorded a massive breakthrough in the cryptocurrency field. Every coin trading in the crypto market recorded significant growth but some were more promising than others. Bitcoin and Ethereum maintained their top positions but other coins might soon become the next biggest cryptocurrency. Lawmakers are continuing with discussions for relegations even as the cryptocurrency market shows no signs of slowing down.
Thomas Jackson is a professional freelance writer who provides assignment help to college students. He’s an active member of some of the best writing clubs in New York and other cities in the US. He is into songwriting as well and has written some very beautiful pieces and his motivation comes from his friends, family, attending concerts and singers of yesteryear.