There are thousands of cryptocurrency options, but there are only two big dogs regarding cryptocurrency: Bitcoin and Ethereum. Bitcoin, the first crypto, was created in 2009. Ethereum was designed to be a “Bitcoin killer” in 2015. The two together make up nearly two-thirds of crypto’s $1.3 trillion global market capitalization. Bitcoin alone makes up roughly one-third. Both cryptos have delivered exceptional long-term returns, despite their volatile prices. This is why investors have started to invest in alternative cryptocurrencies in hopes of finding “the next Bitcoin” or Ethereum. But is it possible that another cryptocurrency will rise in prominence as the market leader? These are cryptocurrencies experts believe have the potential to be contenders.
Solana quickly gained popularity among traders and was deemed “the next” Ethereum. Its price soared to $260 in the latter part of 2021. It has dropped to $40 since then. However, the crypto market will be severely impacted in 2022. Solana maintains a market capitalization of $13.5 billion and is ranked ninth in the cryptocurrency market cap. Solana is often referred to as the crypto of the future because it uses proof-of history. The proof-of-history protocol is faster than the proof-of-work protocol used by cryptos such as Ethereum and has lower fees. Solana claims that it can process approximately 50,000 transactions per minute, which significantly improves the 15 to 45 transactions per second handled by Ethereum. This could allow Solana’s ability to multiply, one of the main requirements for a coin that can catch up to or surpass industry leaders Bitcoin/Ethereum. Solana currently has over 400 projects running on its ecosystem. This includes decentralized exchanges, wallets, and other defi projects. The platform also hosts stablecoins such as Circle’s USD Coin. Solana’s future looks bright due to its low cost and scalability.
KuCoin, a prominent cryptocurrency exchange, allows you to trade, buy, and sell cryptocurrencies. The platform provides basic trading options, margins, futures, and peer-to-peer trading (P2P). To earn rewards, users can choose to lend or stake their crypto. KuCoin is a more attractive alternative to other competitors because it charges low trading fees. KuCoin has a tiered taker/maker fee model. Depending on your tier, trading fees range from 0.0125% to 0.1%. The fees charged by KuCoin are much lower than those of competitors, who may set as high as 0.50% per trade. KuCoin Token (KCS) balance can be used to get trading fee discounts. KuCoin provides traders a separate password to trade, multi-factor authentication, and encryption. This password, in addition to regular login information, is required to trade or withdraw assets. This password is a rare security feature on crypto exchanges and adds an extra layer of protection. KuCoin offers several bots to assist you in your trading. The trading bot is a great tool to increase your investment returns. The rules your bot will use can be set up, and trades will be made automatically. This allows you to trade even when you’re asleep. Bots can be downloaded for free from the cloud. They don’t require you to have your computer or phone to run them. You can also see the top bots on a daily and 7-day basis. You can copy their configurations to make your bot.
Polkadot, which has a market cap of approximately $9.3 billion, is the 11th largest cryptocurrency. Polkadot’s “special talents” are its interoperability and ability to connect multiple blockchains into one network. These multiple blockchains can share information within a single network without risking security. Some consider this secure protocol essential for the future Web3, or decentralized digital ecosystem. Like Solana and Cardano, Polkadot aims to outperform Ethereum in terms of cost and scalability. Polkadot’s interoperability will make it stand out from the other cryptos. Many investors invest in Polkadot not only to speculate on its currency but also to bet on its underlying technology. This trend could help Polkadot’s value remain more stable than other cryptos. It might also attract long-term investors.
AAVE, the native cryptocurrency of a decentralized lending portal, goes by the same title. AAVE serves two purposes: it is a governance token and allows for lower transaction fees when borrowing or lending money. Aave stands out in a highly competitive market because of its wide selection of cryptocurrencies that can be used to lend and borrow and its ability to offer a choice between fixed and variable interest rates. Many crypto enthusiasts expect AAVE to pump shortly. It is certainly promising enough.
The Ethereum blockchain is constantly competing with other projects. It aims to create a smart contract, financial instruments, and decentralized apps (dApps). The Cardano network was launched in 2017 with its ADA coin. The platform’s developers use scientific and methodological approaches to create new technologies and expand its functionality. Cardano is one of the fastest-growing blockchain platforms. It is considered one of the most adaptable blockchains by the World Economic Forum. The coin’s value climbed more than elevenfold between 2021 and 2021. The most important thing is that ADA retains the trading rates it achieved during the initial bull run in 2021. ADA has seen impressive price growth and is now in the TOP-10 for capitalization. Three large research organizations are involved in cryptography, engineering, and blockchain technology research. These factors make the coin appealing for both short-term and longer-term investments.