Next Big Cryptocurrency – Yea we all know that Bitcoin, for now, is the biggest cryptocurrency out there, but knowing that there cannot be only one big player in the field for long, many want to know which is going to be the next big cryptocurrency to hit the market soon.
Since bitcoin has become a bit pricey for most people to afford, those who want to trade cryptocurrency want to know where next they can pitch their tents. As of February, 2021, Bitcoin is rapidly surging and has even reached a new record high of $55,000 USD per coin.
After Bitcoin increased in popularity and the public took interest, bitcoin crashed. However, from December 2017 Bitcoin started surging upwards and since then it’s been trending upwards.
Be it as it may, Bitcoin is not the cryptocurrency to experience a steady increase. There are other cryptocurrencies also in the market who are doing quite well. Even though they are not as famous as Bitcoin, they have also stamped their presence strongly in the cryptocurrency market.
We will be outlining the next big thing in the world of cryptocurrency, to help you know what to look out for and where to invest in.
Currently, there are thousands of cryptocurrencies in the market so knowing which is which, may prove a bit difficult. However to help you out we will be listing the next big cryptocurrency or cryptocurrencies you should be looking out for.
The Big Three Next Cryptocurrency
Here are the next big three cryptocurrencies to look out for in 2021:
Coming closely on the heels of Bitcoin is Ethereum. Developed by Russian techie, Vitalik Buterin in 2015, Ethereum carries a current market capitalization of about $40.6 billion. Designed for creating “smart contracts” which are if/Then commands, when you put many smart contracts together, you get what is known as dApps, decentralized applications.
DApps are tamper-proof because they can directly connect the user and the provider boycotting the middle agent who stores and has control over the information. Most of the cryptocurrencies are actually dApps that run on the Ethereum blockchain.
As at April 2021, Ethereum started entering the mainstream with its appearance in a few new ETFs on the TSX, which has provided Canadians with another medium of purchasing this cryptocurrency.
Next on the list is Litecoin which came on board in 2011. Litecoin is co-founded by a former Google engineer and allows for fast, low-cost global payments via a decentralized network. Litecoin is supposed to be a faster version of Bitcoin with a larger supply of coins. This led to it being referred to as “the silver to Bitcoin’s gold”.
Even though Litecoin is a very popular choice after Bitcoin and Ethereum in 2017, it has not quite experienced the same recovery rate as those coins in 2020. Be it as it may, when it comes to technical advantages and credibility, Litecoin is a likely long-term contender in the world of crypto.
Ripple is a cryptocurrency that was launched in 2012, based in San Francisco, and has offices in 27 countries. The Ripple token is called XRP. Ripple’s main focus is on multi-currency transactions which are cheaper and even faster than Bitcoin.
As of the end of 2017, the Ripple company already had more than 100 international banks which were signed up to its platform at RippleNet.
Currently the Ripple coin is up nearly 300%, and Ripple is estimated to have a market capitalization of $332 billion.
The Runners Up
Apart from the first big three, there are also other promising cryptocurrencies that are worthy of mention. Here they are:
Tether is a unique cryptocurrency owing to its “tethered” value to the US dollar. This means that every Tether coin remains valued at $1 USD, which insulates it from the major price fluctuations which are characteristic of most cryptocurrencies. This feat alone has earned Tether the “stablecoin” name. If you are looking for a stable crypto coin to store value in, you can invest in Tether.
One of the cryptocurrencies on the exchanges, that is the most actively traded is EOS. The coin launched with a year-long ICO in a bid to avoid the characteristic run-up and crash which has characterized every other coin. Thus EOS displays less volatility than other coins on the market. This makes this coin an attractive feature to those who are skeptical of the ups and downs of the crypto market.
Binance coin (BNB)
Binance coin came on board in mid-2017. It was launched by the Binance Decentralized Exchange, or DEX. On DEX, you the access to buy and sell thousands of different cryptocurrencies. However, users are given a discount if they pay fees with Binance. DEX stands as the largest cryptocurrency exchange in the world, and this incentivizes users to trade Binance because it ensures longevity and growth.
This is not to say that these are the only cryptocurrencies that you can store up value in. But we just decided to pick the most promising and stable of them all, to give you a guide in the right direction.