Cryptocurrencies have remained one of the most fascinating topics in the world of finance for several years now, with numerous digital coins competing for dominance. Each year, we witness numerous developments in the crypto sector as cryptocurrencies continually impact our lives in different ways, from shopping to real estate. As we make our way into 2021, let’s take a closer look at the top five cryptocurrencies that are worth keeping an eye on.
1. Bitcoin (BTC) – Bitcoin is undoubtedly the most popular and oldest cryptocurrency, with its launch dating back to 2009. As of today, Bitcoin is not only a household name but also the leading crypto in terms of market capitalization. Investors worldwide are always interested in the Bitcoin price changes, which can be attributed to its high volatility compared to other cryptocurrencies.
2. Ethereum (ETH) – Ethereum is a blockchain platform that has enabled the creation of decentralized applications (DApps) and smart contracts. ETH is the cryptocurrency used to fuel transactions on the Ethereum network. Unlike Bitcoin, Ethereum has more comprehensive use cases and, therefore, potential for further growth.
3. Ripple (XRP) – Ripple is another widely adopted cryptocurrency that seeks to revolutionize the banking sector by facilitating cross-border payments. RippleNet, the platform’s network, has partnered with several banks worldwide, including Santander and American Express, and the company continues to expand its services.
4. Litecoin (LTC) – Litecoin is a cryptocurrency that aims to improve upon the limitations of Bitcoin, such as its slow transaction times and high fees. Its blockchain expedites transaction confirmation times by four times compared to Bitcoin, which has made it a popular alternative to the leading cryptocurrency.
5. Chainlink (LINK) – Chainlink is a unique cryptocurrency in that it focuses on connecting blockchain technology to external data. Its secure and decentralized middleware allows blockchain-based smart contracts to tap into external API services securely and reliably.
In conclusion, these five cryptocurrencies are currently the cream of the crop worth watching in 2021, given their market capitalization, historical performance, and potential for growth. However, investing in cryptocurrencies is a highly volatile market, and it is important to exercise caution. Therefore, before investing in any cryptocurrency, it is essential to conduct thorough research, establish a strategy and consider risks involved.
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