These are the seven altcoins that need your attention
Bitcoin is the new gold. Today almost everyone interested in cryptocurrency wants to invest in Bitcoin. Its value is alluring and is one of the key attractions for many investors.
If you are ready to start your Bitcoin investment journey, choosing the right exchange platform like this software is a must. But the focus of this blog is not Bitcoin investment; rather, we are going to talk about altcoins.
What are altcoins?
In simple terms, altcoins are any cryptocurrency other than Bitcoin. There are several cryptocurrencies available in the market, and it is easy to get confused when it comes to choosing the one that can potentially give you the best returns.
So, to help you learn more about altcoins and make a more informed decision, we have shortlisted seven in this article based on their market cap, valuation, and future scope.
Seven of the best altcoins in the market today
Read on to learn more about seven altcoins that are considered some of the best in the market today.
Present Value- $3,801.41
When we are talking about altcoins, one of the most popular is Ethereum. After Bitcoin, if there is a cryptocurrency garnering a lot of attention, it is Ethereum. While Ethereum is certainly a cryptocurrency, the objective of introducing this cryptocurrency is entirely different, as it also offers a platform for developing smart contracts and development of decentralized applications.
There are more than 3000 dApps as per Coindesk that are presently running on Ethereum. These apps cover different segments like gambling, gaming, Defi and more. NFTs or non-fungible tokens which are presently gaining popularity in the market are also based on Ethereum. That is why it is consider4ed to be one of the most functional and powerful cryptocurrencies.
Present Value- $155.05
The next cryptocurrency on our list is Solana. The reason for Solana’s growing popularity is that it supports both NFTs and dApps, similar to Ethereum. Globally, it is the fourth most valued cryptocurrency.
Solana is aided by proof-of-history and proof-of-stake, which makes it an energy-efficient crypto when it comes to its working mechanism. It also offers lower fees compared to Ethereum or Bitcoin. Solana has a rare combination of PoS, proof-of-history proof-of-stake, or PoH, or, transaction verification models that is way faster than PoW model, or Ethereum’s proof-of-work. The fees of Ethereum are higher than Solana, too.
The unique verification process of Solana is also responsible for consuming less energy which makes it a greener crypto in comparison with Bitcoin and Ethereum.
3) Aave (AAVE)
Present Value- $164.90
Aave makes our list because of its present value. It is a crypto-based protocol that allows users to earn interest on the deposits and borrow assets. Ethereum inspired the concept, and its token was known as LEND. As the Defi market is growing, so is the popularity of Aave. It provides a great platform to potentially earn more on lending and borrowing of digital assets.
Present value- $18.26
We have discussed the cryptos that hold a high value, but other performing cryptocurrencies have made quite a mark in the market. Chainlink is one such cryptocurrency. It is a Decentralized Oracle Network and has a group of independent oracle Blockchain.
These Oracle link the Blockchain project with the real world. This can be a revolutionary move for the future, but it requires more study and due diligence to make them work at their best.
Present value- $14.49
Uniswap is an Ethereum based decentralized application used to transact Ethereum tokens via a liquidity pool. It enables easier Ethereum-based cryptocurrencies to exchange using smart contract utility pools. These pools have users who will get exchange fees when they provide liquidity.
Present Value- $0.000001435
If you are just starting your crypto journey, then SafeMoon could be a great choice. The best part about this crypto is its value. But do not interpret its valuation with its performance; this cryptocurrency has been developed to promote long-term investment.
7) Shiba Inu (SHIB)
Present value- $0.00003355
Shiba Inu was launched in 2020. This cryptocurrency is accepted globally by 371 global merchants.
Choose the right altcoin for you
These are a few of the cryptocurrencies that you most certainly have a look at if you are planning to invest in cryptocurrency. But make sure that before starting your crypto journey, you do deep research to choose the right cryptocurrency to invest in.