When we consider investing in cryptocurrencies, it’s not just Bitcoin that comes to mind. Different players are burgeoning with the assurance of cheaper transactions that use less energy consumption, and faster speed. These more up-to-date players are named altcoins — other cryptocurrencies that are not Bitcoin. The cryptocurrency market has seen a bull run at expansive in October which continued into November with numerous claiming that altcoin season is here. Even though Bitcoin and Ethereum saw large gains, smaller altcoins picked up even more in percentage since they were underpriced by comparison. Investors are looking at these altcoins that have more room for development, which in turn will result in greater benefits
In spite of the fact that there are numerous cryptocurrencies on the market, nearly 90% of the entire cryptocurrency market comprises just 20 of the most well-known currencies. While Bitcoin is on top of this list, altcoins like Decentraland (MANA), Crypto.com Coin (CRO), Avalanche (AVAX), Solana (SOL), and others are in demand. Advanced technology and a rising number of supporters make the following cryptocurrencies the best options to Bitcoin which we have listed in this article below.
1. Decentraland (MANA)
Decentraland is an Ethereum-powered virtual reality platform. In this virtual world, you buy plots of land that you can later navigate, construct upon, and monetize. There’s no limit to what you can do with MANA. Decentraland is the primary computerized platform that’s totally owned by its clients. This technology presently features a reported market capitalization of $9.2 billion, according to information provider Messari. The surge pushes it ahead of metaverse-related play-to-earn game Axie Infinity’s AXS, which contains a reported market cap of $8.6 billion. With MANA, Decentraland clients can purchase and offer digital real estate, at the same time exploring, interacting, and playing games inside this virtual world. Over time, the platform has advanced to execute interactive apps, in-world payments, and peer-to-peer communication for clients. The computer program leverages the Ethereum blockchain to track ownership of this digital land, and it requires clients to hold its MANA token inside an Ethereum wallet to lock in with its ecosystem.
This is a one-of-a-kind project in a largely untested market. The popularity of “alternative life” games may be a great sign and it shows that mass adoption has started. In the event that Decentraland picks up the appropriation that its supporters trust it will, then we may see a totally modern environment when it comes to businesses and other experiences.
2. Crypto.com Coin (CRO)
CRO is a token that clients can utilize to encourage marked-down trading costs and qualify for predominant rewards. CRO is available from a couple of the best cryptocurrency apps and exchanges, such as Coinbase and Crypto.com. This technology was launched by the Hong Kong-based payment and cryptocurrency platform company Crypto.com. It is a mediator currency that permits cryptocurrencies to be changed over into their fiat partners at a heavily reduced cost. The platform incorporates a transaction time of less than one moment, and guarantees to back 50,000 exchanges per moment. It is right now the world’s 22nd biggest cryptocurrency, with a showcase cap of over $11 billion. The Crypto.com company says CRO is part of its vision of “putting cryptocurrency in each wallet”.
3. Solana (SOL)
The creator of the SOL technology Anatoly Yakovenko, launched the SOL network in March 2020. The SOL technology was planned uncommonly to center on keen contracts and the creation of decentralized applications.
Decentralized applications, also known as “dApps” are advanced applications that run on a blockchain stream of computers rather than depending on a single computer (Since dApps are decentralized, they are free from the control and obstructions of a single owner). Solana is the fastest blockchain in the world by far and can handle roughly 50,000 transactions per second. This is one of the reasons that rank Solana as the fifth-biggest cryptocurrency on the market. Solana started the year at US$1.5, which presently rose to about US$260. Its market cap currently stands at close to $65 billion. There are currently around 500 projects built on Solana. Meanwhile, Solana now contains decentralized finance (DeFi) applications, games, non-fungible tokens (NFTs), and Web3 apps.
Lastly, one of the greatest features of SOL technology is that it can work on both proof of history (PoH) and proof of stake (PoS) models. Whereas PoS permits the clients within the confirmation handle as well as PoH keeps track of the transaction time and day within the record.
4. Avalanche (AVAX)
Avalanche (AVAX) is a smart contract-capable blockchain platform centered on exchange speed, low costs, and eco-friendliness. Launched in 2020 by the Ava Labs group, Avalanche rapidly rose the cryptocurrency rankings and sits just outside the top ten. Avalanche’s center development is composed of three blockchains instead of the usual one. Each blockchain specializes in an assignment inside the broader Avalanche environment rather than having one chain do them all. Smart contracts are Avalanche’s key highlight. This enables engineers to construct decentralized applications on Avalanche while leveraging the platform’s security and scalability benefits.
While some of these cryptocurrencies have already reached immense heights and are in may even be in the top 10 rankings, their potential remains huge due to the exemplary fundamentals that they have.
- Besides Bitcoin and Ethereum, other cryptocurrencies also have similar growth potential.
- The top 9 altcoins to invest in 2021 are Decentraland (MANA), Crypto.com Coin (CRO), Avalanche (AVAX), Solana (SOL)
- Solana is one of the fastest-growing crypto ecosystems.
- With MANA, Decentraland clients can purchase and offer digital real estate, whereas exploring, interacting, and playing games inside this virtual world.
- Crypto.com Coin is one of the most promising exchange-based cryptocurrencies.
- Avalanche uses smart contracts to solve the scalability issues of the blockchain.
- These cryptocurrencies are all expected to grow in the future.