Today we’ll talk about cryptocurrencies in which it makes sense to invest in addition to Bitcoin.
Let’s start with Ethereum. We will move together with this cryptocurrency for a long time. If any of the projects really claims to build a global blockchain platform, then this is the brainchild of Vitalik Buterin.
In fact, this is very strange, because there are many cryptocurrencies that technology is superior to Ethereum. But at the same time, none of the so-called “Ethereum killers” have succeeded.
If we recall the recent history, ICO hype took place on the basis of Ethereum. Today we are witnessing a similar boom in DeFi projects, which are also mainly built on Ethereum. Other blockchains also have their own DeFi, Waves, for example, are actively developing this. But even their infrastructure is tied to Ethereum.
And a separate phenomenon is worth highlighting projects of tokenized BTC, which allow using the value of Bitcoin in Ethereum blockchain.
As a result, the main financial activity in the world of cryptocurrencies takes place in this particular blockchain and we do not yet see competitors who can change this rule.
The main disadvantage of Ethereum today is lagging behind competitors in terms of blockchain performance. But if Vitalik Buterin and the company keep their word and we see a full-fledged transition to the POS algorithm in just one year, then their position in the market will become many times stronger and the place of the TOP-2 cryptocurrency will forever remain with Ethereum.
The controversial cryptocurrency XRP, which after January 2017 was the only one of the top altcoins, that set more than one bottom. But on November 19, a rapid growth began, which temporarily raised the price above $ 0.7 and so XRP returned to the TOP-3 cryptocurrencies in terms of market cap.
The opinions about XRP in the community are diametrically opposed. Some consider it to be almost a replacement for the dollar in the future, while others call it a cunning Ripple scam.
We are against all these far-fetched theories about a financial reset and that XRP will play a key role in it. We also have a lot of claims against Ripple, which either dump the XRP price with their own sales, then support the course by repurchasing it from the market.
At the same time, they first state that without XRP sales, their business would not be profitable. And then they say the community can take and, with one decision, burn 50 billion XRP, which they keep in their own wallets.
We also remember that lawsuits in the courts for the recognition of XRP as security are still pending and the head of Ripple, Brad Garlinghouse, spoke several times about his intention to move from the United States to a country with more loyal regulation. While they took a break with this question. They are waiting for Biden to change something.
So why then did XRP make it to our top surviving altcoins? The fact is that the business of Ripple itself is developing and has an excellent perspective. And most importantly, practice shows that they themselves earn on XRP and are ready to invest in it. As long as Ripple continues to pursue this course, XRP will remain an important asset in the crypto market. Well, people will continue to believe in this token, because it is the only one on the crypto market, behind which there is such a powerful and, mind you, a real company, and not various associations like the rest.
There is a coin on the crypto market behind which there is a real monster. We are talking about BNB and the Binance cryptocurrency exchange. This is a unique exchange, which began with ICO, became the market leader, was the first to launch and bring its own exchange token to the TOP of cryptocurrencies, created a separate blockchain for it, arranged a modest but still hype on IEO, bought the world’s most visited cryptocurrency observer CoinMarketCap and much more.
If there is anything threatening Binance now, it is the regulators.
The exchange is now transferring all clients from the United States to a separate platform because they do not want to be on the same list with Bitfinex and BitMEX. Interestingly, both of these exchanges continue to work successfully so far. Let’s see how events will develop further.
As for the BNB price, it grew at an incredible pace on the news from the exchange itself, but as the market cap increased, this trend began to break. BNB has now reached the point where good news from the exchange provides only minimal support to its price.
То date, BNB reaches the point where good news from the exchange provides only minimal support to its price. And in general, the token follows the dynamics of the entire market, that is, Bitcoin.
As long as there is Binance, there will be BNB, it is unlikely that the regulators will be able, or, more correctly, will want to cause significant harm to the exchange. And the way they continue to take over the market suggests that BNB may still show good profits in the future.
Last cryptocurrency is Cardano. We already reviewed them a long time ago and since then nothing has changed much. The fact is that even though Cardano has received a number of long-awaited upgrades over the past couple of years, they have not reached their logical conclusion.
We open DappRadar and see the rating of decentralized applications based on Ethereum, EOS, TRON, and other blockchain platforms, but I do not see Cardano in this list.
If anything this cryptocurrency has strength in it is in the community and the cool development team. Moreover, the belief in the project is so strong that many are not embarrassed by the fact that while Cardano continues to build the platform of their dreams, their competitors are already engaged in real economic activity. But everything that competitors have been able to do is extremely little in relation to the real world. Therefore, Cardano really has a chance to do something better than the rest, and then become the first blockchain with mass adoption.
Whether they succeed or not is a difficult question, but we believe that in the future for the next few years everything will be all right with this project.