In a recent report from CoinDesk, the price of the world’s most popular cryptocurrency began to fall, dropping from roughly $35,466 to $33,221. One bitcoin (BTC, -9.29%) was changing hands for around $33,793 at the time of publishing, up marginally on the hour. While Ether, the second-largest cryptocurrency by market value, was trading about $2,736. It had risen 2% in the previous 24 hours as of 21:00 UTC (4:00 p.m. ET). The asset is below the 10-hour moving average but around the 50-hour, giving market experts a flat-to-bearish warning.
While Bitcoin and Ethereum remain as well-known cryptocurrencies, many cryptocurrencies are springing up with the most explosive opportunities on the market this year. The cryptocurrency market continues to fly to new heights as investors pour money into a burgeoning crop of altcoins—or bitcoin alternatives.
Bitcoin’s popularity across many industries has made it to the most headlines daily, but how about the other digital coins that could also have great potential in 2021? This article will look into four underrated cryptocurrencies that can be hidden gems in the crypto mine!
At the time of writing (June 2021), Chainlink is ranked in the fourteenth place on the list of top cryptocurrencies by market cap. Chainlink is one of the most rapidly expanding crypto projects, assisting in the data transfer between the digital and physical worlds. It functions as a data bridge between decentralised networks like the blockchain and off-chain resources. It also works as a conduit for Smart Contracts to communicate with various external resources on their own.
The idea of smart contracts was influenced by Ethereum (ETH), except that ETH only employs smart contracts to manage the data on a blockchain and does not connect to real-world businesses. Chainlink is typically regarded as a relatively safe investment that is sure to generate high profits.
- External data must pass through a series of scans and cross-checks before being permitted to pass.
- Transactions are now moving at a faster pace and protected by Oracles.
- Creates and facilitates a decentralised currency/cryptocurrency system.
- Because of its adaptability, it can provide innovative financial services to millions of people globally.
- The parent firm of Chainlink has a long track record of creating and delivering secure and scalable corporate software.
- Transactions are irrevocable.
- Developers have enabled shady and suspicious transactions to slip through.
- Processing Smart Contracts Issues
Monero is ranked in the twenty-seventh place on top cryptocurrencies by market cap as of June 2021. It is the most popular cryptocurrency for transactions that are both private and censorship-resistant. Transparent blockchains are found in the majority of current cryptocurrencies, including Bitcoin and Ethereum. Anyone in the globe may verify and trace transactions. This means that these transactions’ sending and receiving addresses might be connected to real-world identities.
Monero, on the other hand, makes use of a variety of privacy-enhancing technologies to ensure that its users remain anonymous. Since every transaction is private, Monero cannot be tracked. This feature could help Monero investors worry less about their currency being banned or contaminated.
- Dynamic scalability
- One of the most secure cryptocurrencies available.
- Transactions cannot be linked to a specific individual, and they cannot be traced.
- Freedom to choose who can see your transactions.
- There aren’t many wallets available for Monero.
- Monero is far more difficult to store safely than most other cryptocurrencies. This might explain why it hasn’t caught on with the general public.
EOS is currently one rank ahead of Monero, placing in the twenty-sixth. EOS is a decentralised system architecture built on the blockchain that allows for the development of decentralised apps (dApps). It provides secure access and authentication, allowing data hosting, user control, and dApp-to-Internet connectivity. The project is designed to be a cost-effective and scalable smart contract platform—one reason why it is referred to as one of the “Ethereum Killers.”
Trading Beasts predicts that EOS will hit highs of $6.0985 by December 2024, indicating that it is best to keep onto it for the long run.
- High scalability due to the use of DPoS consensus algorithm
- The ability to create accounts makes it easier to manage blockchain transactions in a user-friendly manner.
- It ensures that bandwidth and other network resources are available on a fair basis. This is determined by the tokens in the user’s possession.
- It’s not designed to keep transactions private.
- The development of EOS is significantly tied to the existence of a private firm. This raises a point of contention over the EOS “developer community.”
Dash is the most popular cryptocurrency in Venezuela and is well-known throughout Latin America. It’s even on par with Bitcoin! It is currently the fifty-fourth largest cryptocurrency by market cap.
Dash is a cryptocurrency that was created to make “person-to-person” payments possible. This coin aims to do this by providing a simple, flexible structure with cheap fees. Its key distinction from other cryptocurrencies is that it is solely focused on value transfer. Blockchain Decentralised Governance, or DGBB, is Dash’s governance mechanism, which allows each masternode to vote once on each proposal (yes, no, or abstain). Developers can put a plan into action if it is accepted (or not).
- Faster transactions
- Lower charging fees
- Offers a high level of anonymity and security.
- Dash has been chastised for having high centralisation, particularly about masternodes and the manner it is funded.