Today, cryptocurrency is one of the most attractive investment options. Let's agree that bitcoin is the best choice, but the booming cryptocurrency market may offer a huge number of other promising altcoins. Should you invest in them? Definitely yes. And don’t worry if the value of a digital asset is still low. All cryptocurrencies start small like BTC once did.
In addition, analyst company Coinmetrics stressed out that the cryptocurrency market is signaling a shift towards the altcoin season. So, Ethereum showed record growth rates, the cost of Cardano increased by more than 40% after updating its blockchain, and the price of OmiseGo soared by 100% after listing on Coinbase. Today we will tell you which altcoins are still worth your attention and why.
When compiling this top, I took into account digital asset liquidity, growth rates, ecosystem development prospects, and team reputation.
SNX network token for creating synthetic assets
SNX is a token of the Australian company Synthetix, which developed a protocol for issuing synthetic assets based on Ethereum. The platform gives users the ability to create a digital copy of both fiat currency and, for example, precious metals. The value of a virtual coin is bind to the price of a financial asset. So,by using SNX tokens, you can invest in existing world currencies, precious metals, stocks.
From the beginning of 2020, the asset has shown impressive growth. In just a year, from December 2019 to December 2020, the value of the cryptocurrency increased from $1.34 to $6.13.
This is probably due to the fact that the developers announced plans to introduce the possibility of issuing SNX related to indices, options, stocks, futures. The team is also going to add a margin trading tool.
LINK, launched to bridge the gap between smart contracts and real apps
The Chainlink Ethereum token was rolled out in June 2017 by the San Francisco-based fintech company SmartContract. Its main product is blockchain middleware for connecting smart contracts with external data sources such as data feeds, web APIs and any other resources that exist outside the blockchain.
By creating such a platform, developers want to improve the experience of using smart contracts in business. Thus, the company has already entered into a partnership with the international interbank system SWIFT, which is used in more than 11,000 institutions. This, in turn, affected the value of the LINK token: over the year, digital asset price skyrocketed by 548%!
We can expect further growth of LINK, because the wider the use of the Chainlink platform, the more the token value increases.
IQN, designed to monetize gamers’ success
IQN occupies a rather unusual niche: while other projects are trying to take the lead in the field of fintech, IQN token is highly demanded in the gaming industry. Over the past six months, the asset price has become 1.7 times higher!
IQN is an ERC-20 standard token that was developed with the aim of creating a fair gaming environment. So, users can receive an asset for their achievements in games of any genre. PvP gaming platform IQeon.com was the first to integrate IQN, where players can monetize their success in games without intermediaries just by using the token.
With the growth of the gaming industries and expansion of apps and services that support operations with IQN, the token rate will only increase.
XLM, the token of the truly decentralized Stellar network
The digital asset is currently ranked 14th in the cryptocurrency market. As of December 22, 2020, its market capitalization is over $3.4 billion.
XLM was developed by the Stellar Lumens project, which forked from Ripple in 2014. Now it’s in a green zone to be stocked up. Its cost has increased almost 4 times over the year.
Stellar is a fully decentralized platform designed to support any type of currency, as well as exchange different currencies or assets. The work of the project is based on a consensus algorithm, which eliminates delays in transactions. This makes the platform and its token promising to traders.
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There are many more advanced young tokens on the market. When choosing a cryptocurrency for investment, don’t stop at one project, no matter how attractive it may be, and don’t expect the price to skyrocket instantly. Add cryptocurrencies of different projects to your portfolio, and perhaps one of them will become a new Bitcoin in the future.
