Analytics Insight provides the top 10 cryptocurrencies to look out for in 2021.
Initially, only Bitcoin was the only cryptocurrency that used to rule the cryptocurrency market. Recently, there are more than hundreds of cryptocurrencies available in the digital wallet including some stable coins or altcoins. Professional investors have a clear understanding of the differences between Bitcoin and other stable coins whereas beginners should know about the top 10 cryptocurrencies to look out for in 2021. Cryptocurrencies in 2021 are highly volatile and need proper research before investing money and time to open a digital wallet in the cryptocurrency market.
Top 10 cryptocurrencies to look out for in 2021
Bitcoin is one of the top cryptocurrencies in the cryptocurrency market that is still thriving among investors despite being highly volatile. Bitcoin is known as an open-source P2P digital currency with unique features. The current cryptocurrency price is above US$45K but the price is red now due to the struggle of the market to recuperate. Investors do not know when Bitcoin will break the record of US$60Kor provide a chance of incurring a massive loss— it fell more than 13% in the last week. Still, Bitcoin is the most popular cryptocurrency to invest in after opening a Bitcoin wallet.
Ethereum is the second most popular cryptocurrency in the digital currency market with smart contract functionalities. It is a community-run technology with over thousands of decentralized applications. Decentralized applications usually run on the Ethereum blockchain while developers can start coding with Ethereum to build documentation, tutorials, and many more. It is well-known that Ethereum’s decentralized finance system operates 24*7 without any discrimination.
Investors also depend on Cardano for its open-source and decentralized platform with Proof-of-Stake (PoS). The internal cryptocurrency is known as Ada that can facilitate peer-to-peer transactions across boundaries at any point in time. Even if Cardano has fallen around 10% in the last week, investors still prefer this cryptocurrency to gain higher ROI in the nearby future.
Tether is known as a stable coin that attracts a lot of investors towards this digital currency. Stablecoins are popular for being an alternative to Bitcoin and provide stability while maintaining the same price throughout the year in reserves for each Tether issued. The Tether may face a crackdown due to certain issues but it is thriving in the cryptocurrency market for being pegged to the US dollar.
Binance is one of the top 10 cryptocurrencies in 2021 owing to its largest Binance cryptocurrency exchange across the world. Binance Coin is soaring high in the cryptocurrency market with a guarantee of receiving higher revenue in the nearby future. It is known as the exchange-based token created and issued by the Binance platform.
XRP or Ripple is one of the top cryptocurrencies for investors to invest in in 2021 for its real-time gross settlement system. It is one of the popular digital assets built for digital payments. XRP is well-known for offering the fasted and most reliable method for sourcing liquidity on demand to all kinds of financial institutions. It is an open-source and decentralized blockchain technology that can complete a valuable transaction within 3-5 seconds.
Solana is known for its high-performance blockchain-supporting builders to create user-friendly cryptocurrency applications around the world. It is popular among investors for being the fastest blockchain in the world as well as the fastest-growing ecosystem in the cryptocurrency market. Recently, it has surged to be one of the top 10 cryptocurrencies by its market cap. After a sharp fall of Bitcoin, Solana soared high this week by reaching the all-time high value.
Polkadot has enabled the cross-blockchain transfers of multiple types of data and assets as a decentralized web 3.0 blockchain interoperability platform. It is well-known for its open-source sharding multichain protocols that are likely to rebound to an all-time high of US$50. This altcoin can recover from a massive drop in a short period of time to hit the highest record.
Dogecoin needs no introduction in the cryptocurrency market due to the cryptic tweets of Elon Musk. The prices of Dogecoin depend on the tweets from the crypto-influencer, transforming this cryptocurrency into a highly volatile one. It has become a really valuable asset and investors, who invested in Dogecoin, have gained incredible returns in the last few years. Yes, the price of Dogecoin is nowhere near Bitcoin but the market cap is incredible to gain revenue in the nearby future.
USD Coin is one of the top 10 cryptocurrencies to invest in 2021 owing to its functionalities as a stable coin. It is pegged to the US dollar and represents a major breakthrough in utilizing the money among investors. USD Coin is known as an Ethereum token to store it in an Ethereum-compatible wallet with utmost security.