xrp crypto value

8 Potential Contenders to Become the Next Big Crypto King

5 Cryptos to Buy Before They Rocket Like MedMen
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Editor’s Note: This article was updated on October 27 to correct the name of the US dollar-backed stablecoin Terra and to remove irrelevant references to the Tether (USDT-USD) stablecoin.

Cryptocurrencies are making headlines and the rise of digital assets is showing no signs of slowing down. Bitcoin (CCC:BTC-USD), the world’s most valuable cryptocurrency, recently reached a new all-time high (ATH) of around $67,000 on October 20, beating the previous record set in April. Meanwhile, investors are searching for the next big crypto leader among hundreds of tokens and coins.

Over the past month, bitcoin prices have increased by about 42%. This was largely driven by growing market sentiment that US regulators will continue to take a moderate stance on cryptocurrencies rather than crack down on the market. On top of that feeling, ProShares Bitcoin Strategy ETF (New York:Beto), a futures fund, was another major catalyst. (BITO provides indirect exposure to bitcoin because it does not invest in BTC, but instead owns futures contracts.)

With a market capitalization of around $1.2 trillion, BTC represents over 60% of the cryptocurrency market. However, the market share of altcoins – or digital currencies other than bitcoin – is also expanding. Altcoins offer a way for crypto investors to diversify outside of BTC.

Currently, there are more than 100 altcoins valued at more than $1 billion, which means there is a thriving digital ecosystem. The most important cryptocurrency after BTC is Ethereum (CCC:ETH-USD) which has a market capitalization of $506 billion. Its price today is just over $4,000.

Of course, I must remind readers that altcoin prices tend to follow in the footsteps of bitcoin. In this context, the launch of the first exchange-traded fund (ETF) linked to Bitcoin futures would boost prices further. But the prices of these assets are still usually highly volatile. As such, altcoins are not suitable for all investors.

Several analysts are also debating whether many of these digital currencies can survive. Hence, investors need to do their homework before taking off. Against this background, there are eight alternative currencies that can each last a long time and become The next big thing.

  • Celsius (CCC:CEL-USD)
  • Chili’s (CCC:CHZ US Dollar)
  • Elrond (CCC:EGLD-USD)
  • philicoin (CCC:FIL-USD)
  • flow (CCC:flow-dollar)
  • Solana (CCC:LEFT-USD)
  • Tera (CCC:MOON-USD)
  • waves (CCC:dollar waves)

Next big cipher: Celsius (CEL-USD)

Source: shutterstock.com/Ivan Babydov

52 week range: $1.21 – $8.02

The first look on this list for the next big cryptocurrency is Celsius. Launched in 2017 by Alex Mashinsky and Daniel Leon, Celsius is an integrated blockchain financial services platform for cryptocurrency users who receive interest payments based on their holdings. After creating a crypto savings account, investors can earn returns.

Celsius’ token, CEL-USD, serves several internal functions, such as rewards and boosting user payments if used as a payment currency. Users can access the Celsius platform on both the web and its mobile app.

CEL-USD is currently trading around $5. It’s down 8% year-to-date. With a market capitalization of $1.2 billion, the token is currently the 88th largest cryptocurrency in the space according to CoinMarketCap. Readers interested in the intersection between fintech and cryptocurrency may want to do a little more research on Celsius.

Chili’s (CHZ- US dollar)

Concept photo of Chiliz (CHZ).

Source: Shutterstock

52 week range: 0.0088 USD – 0.8915 USD

First floated in 2018, Chiliz is another potential “next big cryptocurrency.” Because it focuses on Monetization and fan engagement in the sports world. Chiliz.net is the first symbolic sports exchange All over the world where fans can trade sports branded tokens.

Chiliz has partnerships with many of the world’s leading sports organizations, such as Juventus, Arsenal, Barcelona FC, Manchester City and Paris Saint-Germain. As a result, the platform also gives users the opportunity to participate in managing their favorite sports brands. Holding the local currency CHZ-USD allows fans to take a stake in their club.

Moreover, CHZ-USD also supports the Socios.com platform. The cryptocurrency is currently hovering at 32 cents. The altcoin has returned over 3,000% year-to-date. With a relatively small market capitalization of $1.9 billion, this digital token is currently ranked as the 68th largest cryptocurrency in the market.

The next big cipher: Elrond (Egypt – dollar)

Elrond (EGLD-USD) crypto logo on a blue graphic background

Source: shutterstock.com/Zeedign.com

52 week range: 7.01 dollars – 302.14 dollars

Launched in July 2020 by Beniamin and Lucian Mincu, Elrond is a hash blockchain with a focus on scalability – the ability to support large amounts of transactions. So, what is hash? Mahdi Zamani Visa (New York Stock Exchange:FifthHighlight the following:

“One of the main ways to overcome the performance and scalability limitations of existing blockchain protocols is through the use of hashing, which aims to split transaction overheads among multiple, smaller groups of nodes.”

In other words, the Elrond protocol provides ultra-fast transaction speeds across hashing. Elrond’s original token, EGLD-USD, serves various internal functions such as fee payment, staking and rewards.

EGLD-USD is currently hovering around the $270 area. It’s up over 950% since the start of the year and 3,400% in the last twelve months. Furthermore, the altcoin has gained around 19% over the past month. With a market capitalization of over $5.3 billion, it is currently the 37th largest cryptocurrency in the market according to CoinMarketCap.

philicoin (FIL-USD)

Filecoin (FIL) logo on a copper-colored coin placed above the circuit board

Source: knipsdesign / shutterstock.com

52 week range: $20.05 – $237.24

FIL-USD is the next entry on this list looking for the “next big cryptocurrency.” Filecoin is a decentralized storage system that aims to “store the most important human information”. Filecoin takes advantage of its decentralized nature to protect the integrity of the data location, making it easy to retrieve and hard to monitor.

Participating in the Filecoin network via mining and storage allows users to earn more block rewards. Cryptocurrency incentivizes participants to act honestly and store as much data as possible.

FIL-USD started 2021 at around $22. Right now, the altcoin is trading at around $66. Filecoin is currently back 87% year-to-date, but it’s also down 12% over the past month. With a market value of over $7.5 billion, it Currently, the digital currency is the 27th in the market.

The next big cipher: streaming (stream – USD)

FLOW-USD logo encoded on dark world map background

Source: shutterstock.com/karnoff

52 week range: $1.50 – $46.16

fired by Dabur LabsFlow is the next big crypto prospect on this list, describing itself as a developer-friendly blockchain to support games, apps, and digital assets. Investor Readers may know Dapper Labs in Canada as the developer of CryptoKitties, an Ethereum blockchain game.

FLOW-USD is the token that powers the network. Among the prominent investors in Dapper Labs Queen Piece (NASDAQ:Currency), alphabet (NASDAQ:Google) (NASDAQ:Google) Google Projects and Zynga (NASDAQ:ZNGA), among other names.

This crypto is currently trading around the $13 mark. With a market capitalization of more than $4 billion, Flow is currently ranked 45th among the largest cryptocurrencies in the market.

Solana (LEFT-USD)

Solana Blockchain Concept Art (SOL).

Source: Shutterstock

52 week range: $1.09 – $214.96

Launched in early 2020 by Anatoly Yakovenko, Solana aims to compete with the Ethereum network in the field of decentralized finance (DeFi). What is DeFi? Posted in Financial Regulation Magazine It indicates the following:

common use [of DeFi] It includes one or more of the following: (i) decentralization; (2) distributed ledger and blockchain technology; (3) smart contracts; (iv) no mediation; and (5) open banking business.”

Solana supports a hybrid consensus architecture for Proof of Stake (PoS) and Proof of History (PoH) protocols. Moreover, digital assets are increasingly being used for decentralized applications (dapps) and non-fungible tokens (NFTs). Finally, Solana is one of the fastest blockchain protocols as well.

Its original currency, SOL-USD, is currently hovering above the $200 mark. The altcoin has gained nearly 12,000% or so since the beginning of the year. With a market capitalization of about $62 billion, Solana is now the sixth largest altcoin on the market.

The next big cipher: Terra (MOON-USD)

Digital display of Terra tokens (LUNA-USD) above the circuit board.

Source: Shutterstock

52 week range: $0.275 – $48.63

The second largest on the next potential big cryptocurrency list is Terra. Created in 2018, Terra is a base layer blockchain protocol that uses cryptocurrency, such as TerraUSD (CCC:UST-USD), to process payments.

LUNA is the original coin of the Terra protocol. It acts as a reserve asset that is used to stabilize the price of these stablecoins. To mint TerraUSD coins, for example, LUNA is “burned”.

However, the Terra network has recently undergone a major upgrade. One CoinDesk The article notes that this upgrade is important because it is “Enable[s] Inter-Blockchain Communication (IBC) standard, which will allow users to easily transfer stable LUNA, TerraUSD (UST) and other assets from Terra to other networks and back. “

LUNA is currently trading at around $43. It’s up about 6,500% since the beginning of the year and 13,600% in the last twelve months. The altcoin has also gained more than 30% in the past month. With a market capitalization of $17.5 billion today, it currently ranks as the eleventh largest altcoin in the space.

waves (WAVES-USD)

Concept coin for cryptocurrency WAVES

Source: Shutterstock

52 week range: $2.96 – $41.33

WAVES-USD is a potential final candidate to be the next big cryptocurrency in the market. Basically, Waves is a blockchain platform for building dapps and smart contracts as well as releasing custom crypto tokens. The platform uses a variety of point-of-sale consensus mechanism called Leased Proof of Stake (LPoS).

The network’s original token, WAVES-USD, is used as an incentive for mining rewards, payments, and voting rights. The crypto is currently hovering around $28. It’s up about 360% since the beginning of the year and about 760% in the past 12 months. Moreover, it is up about 13% over the past month.

With a market capitalization close to $3 billion, the altcoin is currently ranked 54th among the largest cryptocurrencies in the market.

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On low-cap and low-volume cryptocurrencies: InvestorPlace does not regularly publish comment about cryptocurrencies with a market capitalization of less than $100 million or trading in a volume of less than $100,000 per day. That’s because these “micro-cryptocurrencies” are often a playground for scam artists and market manipulators. When we post a comment on a small cryptocurrency that may be affected by our comment, we ask for it InvestorPlace.comWebsite writers disclose this fact and warn readers of the dangers.

Read more: How to avoid common cryptocurrency scams

theAt the date of publication, Tezcan Gecgil did not (directly or indirectly) hold any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, and are subject to InvestorPlace.com’s posting guidelines.

Tezcan Gecgil has worked in investment management for over two decades in the US and UK in addition to formal higher education in the field, and has also completed all three levels of the Certified Market Technician (CMT) exam. Her passion is options trading based on technical analysis of fundamentally strong companies. She particularly enjoys setting up weekly covered calls to generate income.

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