Cryptocurrencies have been one of the biggest talking points of recent years as many investors have made huge profits with them. With that said, the cryptocurrency market is expanding as we speak, and it does not look like it is going to slow down. However, you should carefully analyze the market before deciding on which cryptocurrency to invest in. Furthermore, patience might be the key if you prefer holding (HODLING) your cryptocurrencies. So, it is important to know about some of the exciting cryptocurrency prospects that can make you rich in the future, whether that is through day trading or swing trading. This article plans to enrich your knowledge about five of the most promising cryptocurrencies in 2021.
5 Cryptos To Keep an Eye on in 2021
At Crypto Academy, we have made 5 picks and the number one is:
Solana is one of the most promising cryptocurrencies of 2021. Its whitepaper was released in 2017 by Anatoly Yakovenko. As a Proof-of-Stake (PoS) cryptocurrency, Solana allows users to stake cryptocurrencies to earn interest after the staking period is over. Solana has introduced Proof-of-History (PoH) with its blockchain, which makes transactions much faster than the majority of other cryptocurrencies. Because of such features, Solana has proved to be one of the most efficient networks of the recent cryptocurrency era. The native token of Solana, SOL, started its journey at a price of around $0.7 in 2020. Within one year, the price of SOL reached $49.6 in May of 2021. This price increase made Solana one of the most exciting projects of 2021. With its decentralized clock and upcoming upgrades coming into the network, Solana can only grow into an even bigger cryptocurrency.
Read more: Solana Price Prediction 2021 and Beyond – Is SOL a Good Investment?
2. Enjin Coin
Enjin Coin is another exciting cryptocurrency that has taken the realm of cryptocurrencies by storm. It was launched in 2018, and it looks to change the gaming industry in the cryptocurrency market. Enjin has partnered with major companies that helped it grow massively, such as Atari, BMW, Microsoft, Samsung, Unity, etc. Using ERC-1155 tokens, Enjin focuses on Non-Fungible Tokens (NFT) and allows users to mint and trade NFTs in an efficient way. With a PoS mechanism, good software kits, and QR scanning options from Enjin Beam, Enjin has solidified its place as one of the most intriguing projects that focus on the gaming industry and NFTs in general. While it may have debuted at a price of around $0.01, Enjin has reached a high as $4 in 2021, placing it in the top 100 ranks in the crypto market. With updates focusing on Enjin’s implementation on gaming consoles such as PlayStation 5 and having a market cap of less than $1 Billion as of July 2021, Enjin has the potential to grow into one of the best cryptocurrencies of the future cryptocurrency market.
SafeMoon is yet another cryptocurrency whose potential exceeds many other cryptocurrencies. Despite having a very large supply, SafeMoon tokens are burned so that their price is less inflationary. Furthermore, SafeMoon promotes holding cryptocurrencies instead of trading them. Whenever a SafeMoon trade is conducted, a 10% tax fee is cut from the trade, rewarding network participants and maintaining the network with that fee. Doing this encourages SafeMoon investors to hold (HODL) their SAFEMOON tokens and consequently increase the price of SafeMoon. Currently, SafeMoon is at number 207 in the crypto rankings. As a project that was launched in 2021, SafeMoon may climb into the top 100 real soon as its supply is burned and more investors become aware of it.
Cardano has been one of the most successful cryptocurrencies up to date. However, this does not mean that it has reached its full potential. Launched in 2017, Cardano is one of the best PoS cryptocurrencies that has successfully maintained its network through staking. As PoS has proved to be somewhat more efficient than PoW, even the likes of Ethereum are now shifting into PoS. While it is difficult to maintain decentralization in a scalable and secure network, Cardano also looks to introduce smart contracts in the coming months. Smart contracts are sets of codes that regulate the services in the network, and it may be just what Cardano needs to outgrow its success. Launched at a price of around $0.02, the ADA token reached its highest in May of 2021 at $2.46. The implementation of smart contracts is likely to increase the demand for ADA tokens even more. With the supply getting scarcer, this could only mean an increase in the price of Cardano in the future. Currently, it is the fifth-biggest cryptocurrency in the market.
Diem, or also formerly known as Libra, is an upcoming cryptocurrency that is going to be launched by Facebook. Diem looks to become the best stable cryptocurrency in the market that may be recognized everywhere in the world. Since it is still not launched, it is difficult to anticipate the success that this cryptocurrency can have. Nevertheless, Diem can become one of the biggest cryptocurrencies in the world and may even be a strong competitor to other stable cryptocurrencies such as Tether.
2021 Crypto Highlights
What are some key events that have happened in 2021 and may have an impact on the crypto market in the short run? Here are some of the most interesting occurings of the first two quarters of 2021.
Gemini Partnership With Mastercard & WebBank
Gemini is a cryptocurrency exchange that has had quite a success ever since it was launched. The interesting fact of 2021 regarding Gemini is that it has partnered with Mastercard and WebBank into forming a new credit card. This credit card can be used for trading cryptocurrencies, but not limited to. The purpose of this ard is to make transactions easier while at the same time rewarding the cardholders immediately ager a transaction (up to 3%).
Real Estate in Miami Sold in Cryptocurrency
Another interesting story related to cryptocurrencies is the acquisition of a penthouse in Miami for around $22.5 million, completely purchased with cryptocurrencies. This recorded the biggest real estate sale using cryptocurrencies. This could prove to be revolutionary in the real estate field, as many real estate agents are now listing properties on auction sites and accepting cryptocurrency payments. To illustrate, a penthouse in London, estimated to be one of the most expensive penthouses in the world, is listed for sale and accepts cryptocurrency payments.
Guggenheim with Possible Bitcoin Exposure Soon
Guggenheim is one of the biggest institutional investors in the world. Recently they have notified the public that they plan to create the Active Allocation Fund, filed from the Securities and Exchange Commission (SEC). In this fund, it is quite possible that they may have Bitcoin exposure, as such funds usually entail cryptocurrencies as well. This may have quite the effect on the price of Bitcoin and cryptocurrencies in general. It remains to be seen what the Active Allocation Fund implies to the crypto market.
Apple May Support Cryptocurrencies
A new feature in Apple, known as Business Development Manager – Alternative Payments, may potentially involve cryptocurrencies as well. A lot of experts are beginning to think that cryptocurrencies are soon going to be supported in Apple’s Wallets. This could have a positive effect on the crypto market as it can make cryptocurrencies much more accessible. Furthermore, the Apple team has admitted that they continually watch the crypto market. Perhaps, an Apple cryptocurrency may come in the long run. Despite all these claims, since Apple is one of the world’s most successful companies, the slightest of support in cryptocurrencies can cause another bullish run.
New Cryptos Created Daily
Last but not least, the cryptocurrency market is expanding each day at a very large rate. It has become so easy for developers to create and launch their own cryptocurrency projects. There are thousands of cryptocurrencies currently active in the crypto market, and it is quite hard to depict an exact number since that number changes at a fast pace.
Where To Buy and Sell: Popular Cryptocurrency Exchanges
If you are interested in trading cryptocurrencies, you should know what exchanges to use so that you are not scammed by potential hackers. Here is a list of some of the best cryptocurrency exchanges as of 2021.
Coinbase is one of the biggest and most successful cryptocurrency exchanges of 2021, with millions of people that use it daily. It is supported in more than 100 countries and that number can increase as cryptocurrencies become more popular.
Kraken is perhaps the main rival of Coinbase and also has millions of users. With Kraken recently focusing on the US audience, its user count may likely grow in the future.
Binance is one of the most exciting exchanges that you could use today. It is also mainly focused in the US, but it is supported by many countries worldwide. Binance is also known for its various features using its BNB token and has become the best at various trading sectors when compared to its rivals.
Read more: Binance Coin and Exchange – Price Prediction 2021
Lastly, Bittrex is another exchange that has proved to be very good, safe, and fast. Bittrex has also been perhaps the safest exchange available with its innovative technology.
If you want to know more about the cryptocurrency buying process, here’s a detailed guide on How to Buy Cryptocurrencies. We hope you have enjoyed this article and if you want to know more about the crypto world check out our price predictions and the “Learn” sector here at Crypto Academy.
- The cryptocurrency market is expanding each day.
- Some of the most promising cryptocurrencies in 2021 are Solana, Enjin Coin, SafeMoon, Cardano, and Diem.
- Gemini partnered with Mastercard and WebBank.
- Property in Miami sold using cryptocurrencies.
- Guggenheim may involve Bitcoin in its latest funding.
- Apple may support cryptocurrencies imminently.
- The best exchanges you can use today are Coinbase, Kraken, Binance, Bittrex, etc.