3 Cryptocurrency Stocks Wall Street Predicts Will Rally by More Than 90%

The cryptocurrency frenzy is building each day as investors shift to decentralized currencies amid rising inflation fears and U.S. dollar volatility. Approximately 46 million people, or 17% of the adult population in the United States, own at least some Bitcoin.

The U.S. is rapidly embracing the blockchain currency ecosystem. Fintech companies FIS Ventures and New York Digital Investment Group (NYDIG) recently partnered to enable U.S. commercial banks to offer crypto transactions to their customers through personal accounts. Also, major companies are actively enabling crypto-based transactions for the purchase and sale of goods and services.

Considering these developments, increasing numbers of investors are betting on cryptocurrencies. Furthermore, with the Federal Reserve lagging other central banks in developing digital dollars, the crypto frenzy in the United States is likely to continue in the near term. Thus, Wall Street analysts expect crypto players Marathon Digital Holdings, Inc. (MARA – Get Rating), Riot Blockchain, Inc. (RIOT – Get Rating) and Silvergate Capital Corporation (SI – Get Rating) to garner significant gains in the coming months.

Marathon Digital Holdings, Inc. (MARA – Get Rating)

MARA is a digital asset technology company that  mines cryptocurrencies for the generation of digital assets. It is one of the largest enterprise cryptocurrency companies in North America. In March, MARA became the first company to launch a North America-based Bitcoin mining pool compliant with U.S. regulations and Office of Foreign Asset Control (OFAC) standards.

Also in March,  MARA partnered with DMG Blockchain Solutions Inc. to leverage the latter’s Blockseer pool technology to filter transactions compliant with U.S. regulations. The joint venture is expected to help MARA operate its Bitcoin mining pool at  100% of its mining hashrate.

As one of the first and largest U.S.-regulatory compliant bitcoin pool operators, Wall Street expects MARA to gain traction in the coming months. It has a 12-month $50 price target, which represents  92.7% upside potential.

MARA mined 162.10 bitcoins in April, thereby increasing its total holdings to approximately 5,292 bitcoins as of May 1. The company’s total Bitcoin holdings have a $305.20 million market value. MARA’s revenues increased 1,454.1% year-over-year to $9.20 million in the first quarter, ended March 31, 2021. Its net income and EPS came in at $83.40 million and $0.87, respectively, representing  a substantial rise from the negative year-ago values. MARA reported adjusted EBITDA of $137.40 million, representing a significant rise from a $479,000 loss reported in the prior-year quarter.

Analysts expect MARA’s EPS to improve 1,850% year-over-year to $2.10 in its fiscal year 2021. The company’s revenue is expected to rise 6,466.4% from the same period last year to $286.10 million.

Riot Blockchain, Inc. (RIOT – Get Rating)

RIOT is a well-known cryptocurrency mining company with a focus on  Bitcoin mining operations. As of April 30, the company held more than 1,771 self-mined Bitcoins.

RIOT has been working towards implementing environment friendly miners, consistent with the global inclination towards carbon neutrality. The company projects it will utilize 22,946 Antminers using 73 megawatts of energy at a hashrate capacity of 2.3 exahash per second, by the second half of 2021. Wall Street expects this development to be a major driver of  the company’s momentum as increasing numbers of  investors shift to ESG investing. The stock has a…

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Should you buy Dogecoin right now? A look at what’s ahead

Dogecoin hit a new peak last week before dipping down over the weekend, so questions remain about whether it’s still a worthy investment.

What happened to Dogecoin?

Dogecoin had a rise in popularity over the last week as investors waited to see Tesla CEO Elon Musk’s appearance on “Saturday Night Live.” Musk hinted several times he might make a joke about Dogecoin, which could raise its value.

Instead, investors dropped out of the Dogecoin hype, selling their holdings and leading the price of a single dogecoin to drop, hurting the overall value.

Should you buy Dogecoin right now?

Yahoo! Finance suggests you should only invest if you’re willing to deal with a volatile market that doesn’t really have stability. Yes, Dogecoin looks like the hot new thing, but that doesn’t mean Dogecoin is going to survive for the long haul.

  • “While it has gained incredible traction lately as well as celebrity endorsements, including Mark Cuban and Snoop Dogg, just like any other crypto, it’s extremely volatile. If you’re planning on investing in it, you should be ready to stomach wild swings,” according to Yahoo! Finance.

What other cryptocurrencies are on the rise?

There’s also a hunt out for the next great cryptocurrency that could spur heavy interest, so Dogecoin might soon be old news.

  • For example, the cryptocurrency Safemoon is worth $0.000007, meaning it has huge room to grow in value if more people invest, per Yahoo! Finance.
  • There’s also the Shiba Inu — or “SHIB” for short — cryptocurrency, which is a…

Continue reading at DESERT.COM

 

Altcoins

7 Cryptocurrencies Under $2 That Could Be The Next Bitcoin

Bitcoin (CCC:BTC-USD) has moved up so far, so fast that anyone starting to invest in cryptocurrencies is more or less forced to look at alternative plays. As of Friday May 7, BTC-USD was trading at $57,732, up 99.3% from $28,972 on Dec. 31, 2020. Many investors are considering other cryptocurrencies that might offer better upside and a cheaper absolute price.

This article discusses 7 of the top 20 largest cryptocurrencies to consider investing in beyond Bitcoin and Ethereum (CCC:ETH-USD), the second-largest cryptocurrency. ETH-USD was at $3,535 as of Friday, May 7, and is up 384% from $730.37 as of Dec. 31, 2021.

We’ll look for altcoins that have lower absolute prices than these top two cryptocurrencies. These alternative picks might provide the same meteoric upside both Bitcoin and Ethereum have had over their lifespan.

Each of these cryptocurrencies trades below $2. That means for $2,000 you can buy up to 1,000 coins or tokens. So if they ever trade above $100, like Litecoin (CCC:LTC-USD), currently at $351, or Filecoin (CCC:FIL-USD), at $150.67, investors can make a lot of money.

7 Cryptocurrencies Under $2 That Could Be The Next Bitcoin

Let’s dive in and look at these cryptocurrencies.

7 Cryptocurrencies Under $2: Dogecoin (DOGE-USD)

Price: $0.4574  

Market Capitalization: $59.3 billion

Dogecoin was originally created as a joke to mimic the rise of Bitcoin, but it has since taken on a life of its own. I wrote about its phenomenal rise recently in InvestorPlace, and about those saying the joke is over.

Moreover, Dogecoin has a slightly inflationary token supply structure. This is because the token issues just 5 billion new Dogecoin each year. With a present total of 128 billion Dogecoin, that means the average annual increase is 3.90%. But each year this percentage increase declines as the base denominator rises.

This token supply structure may actually make Dogecoin a useful cryptocurrency for payments in the real economy, as I wrote in my Feb. 8 article. The reason is that economies need a slight bit of inflation, which helps account for both the velocity of spending as well as price increases.

It also discourages people from hoarding the currency, even though it rises in value. Since most large economies grow at an average clip of 3% or better over the long run, the greater-than-3% growth in cryptocurrency supply helps accommodate this growth.

Therefore, look for Dogecoin to take on more than just a cult following over the next year or so. I suspect it has a good chance of crossing $100 billion in market value, making it the third-largest cryptocurrency after Ethereum.

For example, if it were to hit $1 per Dogecoin, it would have risen nearly 120% from current prices, giving it a market cap just under $130 billion. That’s still a far cry from Ethereum’s $409 billion market valuation. So there seems to be an upward limit to how high this coin could fly.

Both Robinhood and Webull offer the ability to buy Dogecoin. I suspect that this has also played a huge part in Dogecoin’s rise. However, you still cannot do so on Coinbase (NASDAQ:COIN).

Ripple (XRP-USD)

Price: $1.43 

Market Cap: $50.3 Billion

Ripple, created in 2012, is tainted by lawsuits from both the SEC and private investors. In January, Coinbase delisted Ripple from its exchange. However, some other exchanges still allow trading in Ripple.

If you are willing to overlook the SEC issues (numerous and described in my recent article), Ripple might eventually succeed. Ripple wants to be a real-time payment settlement system with no chargebacks. The problem is there are a number of other cryptocurrencies in this space as well.

You can tell that I am somewhat lukewarm about Ripple’s prospects. Nevertheless, the currency has been rising, despite its troubles. For example, XRP-USD closed out 2020 at $0.2324. As of May 10, it was at $1.43. This means it has risen 515% so far this year.

I suspect that there is a good chance, given its speculative fever, Ripple token could…

Continue reading at INVESTORPLACE.COM

 

Analyst Explains Why Ethereum Is Rallying, Hitting All-Time Highs

Investment management firm Ark Invest has highlighted three reasons why the price of ethereum has been hitting record highs. The firm cited increased institutional interest, strong on-chain signals, and imminent protocol upgrades as the key reasons.

Why Ethereum Has Been Going Up

ARK Investment Management, also known as Ark Invest, published a research note last week explaining three key reasons why ethereum is breaking out to new all-time highs.

The first reason the firm’s analyst mentioned was “Increased institutional interest.” Ark Invest pointed out that a number of ether exchange-traded funds (ETFs) have launched in Canada, making it easier for institutional investors to gain exposure to the price of ETH. The note adds:

Institutions and companies like European Investment Bank and Visa have validated the Ethereum blockchain by announcing issuance and settlement use cases, respectively.

At the end of April, the European Investment Bank (EIB), a nonprofit organization and lending arm of the European Union, announced that it has issued a new type of digital bond built using Ethereum. Meanwhile, payments giant Visa announced at the end of March its first transactions settled with Visa in USD Coin (USDC) and transacted over the Ethereum blockchain.

Analyst Explains Why Ethereum Is Rallying, Hitting All-Time Highs
The price chart for ether. Source: markets.Bitcoin.com

The price of ETH hit another all-time high Sunday night. It is currently $4,116 according to data from markets.Bitcoin.com.

The second reason the analyst noted was “Strong on-chain signals.” The firm explained: “Usage of the Ethereum network is increasing and, by some measures, outpacing that of Bitcoin, as shown by the number of active wallets and total transaction fees,” elaborating:

In our view, decentralized finance (Defi) and non-fungible tokens (NFTs), both of which are burgeoning, explain ethereum’s recent breakout.

The third reason relates to the upcoming protocol upgrades. Noting that the Ethereum Improvement Proposal 1559, which is planned for July, will significantly change Ethereum’s transaction fee model, the note details:

Aiming to lower the volatility of Ethereum’s fees, EIP-1559 introduces a mechanism to burn some transaction fees, detracting from circulating supply and introducing deflation to the Ethereum ecosystem. The impact on ether’s price could be like that associated with a Bitcoin halving event.

What do you think about Ark Invest’s explanation of why ether has been rallying and hitting all-time highs? Let us know in the comments section below.

Source: Bitcoinnews.com

3 Reasons Ethereum Will ‘Dwarf’ Bitcoin, According to Mark Cuban

Ethereum’s price has been performing incredibly well for the past couple of weeks. Over the past 14 days, ETH is up more than 42% and more than 60% over the past month.

This is not only true for its dollar value – ether is doing remarkably well trading against bitcoin. In fact, at the time of this writing, ETH’s dominance sits at 16.9%, whereas BTC’s dominance stands at 44.3% – the lowest it has been in almost three years.

In other words, Bitcoin’s total market cap is currently only 27.4% larger than this of Ethereum, and we’re already seeing plenty of people jumping on the ‘flippening bandwagon – the event where ether tops BTC in terms of market cap.

Mark Cuban has been particularly vocal about his involvement in the cryptocurrency markets as of late. He’s also not hiding his excitement for ethereum and all of its capabilities.

In a recent interview with CNBC Make It, the billionaire owner of the Dallas Mavericks gives three reasons for which he believes ether will outperform bitcoin.

The Number of Transactions Per Second

Cuban believes that the fact that ETH’s network is capable of processing more transactions per second is a good enough reason for it to outperform BTC.

Right now, bitcoin is a more established store of value, and there is no reason to think it won’t continue to be for a long time. […] Ethereum, on the other hand, is booming with development that I think will create so many new applications. – Says Cuban.

Diversity of Transaction Types

One of the main differences between Ethereum and Bitcoin is the former’s capabilities of supporting the development of smart contracts.

These pre-programmed constructs allow developers to build a variety of applications. For this reason alone, many seem to believe that Ethereum is the platform where “the future of finance” is built.

Development Efforts in Ethereum

The billionaire continues with the utility narrative, arguing that Ethereum boasts a higher utilization compared to Bitcoin.

“The number of transactions and the diversity of transaction types along with the development efforts in Ethereum dwarf Bitcoin. […] The utilization of Ethereum is much higher.”

Indeed, comparing on-chain data reveals that Bitcoin’s network processed about 5 times fewer transactions yesterday compared to Ethereum.

Referring to Ethereum 2.0, Cuban argued that the “challenge with Ethereum as an investment is that until its update is complete, it’s difficult to predict which improvements will come to light and which will not – something that can create confusion along the way.”

CryptoPotato reported in April that the giant multinational investment bank JP Morgan Chase also expects the trend of ether outperforming bitcoin to continue. However, the analysts over at JPM gave more economic and trade-specific reasons for which they believe the cryptocurrency will outperform BTC going forward.

Source: Crypto Potato

Cardano (ADA) Skyrockets to New All-Time High

The latest developments around the popular blockchain project founded by Charles Hoskinson have pushed the native digital asset to new highs. ADA has skyrocketed by more than 800% since the start of the year, and its latest ATH came at $1.7 earlier today.

  • Released in 2015 by the former Ethereum co-founder Charles Hoskinson, Cardano is an open-source, public blockchain platform. Following years of development, the project started to pick up speed in 2021 with numerous notable partnerships and milestones.
  • Cardano has been highly active in Africa as the team announced a few partnerships with countries from the region.
  • In the span of a few weeks, the project teamed up with the Ministry of Education of Ethiopia to create blockchain-based ID systems and later with Tanzania to provide locals with access to social, digital, and financial services through its network.
  • Cardano’s cryptocurrency has also enjoyed adoption from various organizations. Coinbase Pro added ADA for trading on its platform, Simplex enabled direct purchases with direct credit and debit cards, and, most recently, Kraken listed the token for staking with up to 6% returns.
  • Consequently, all the developments and the ongoing crypto bull market impacted the asset’s price quite massively.
  • ADA entered the new year at around $0.18. However, it took less than two months to expand by more than fivefold and break above $1.
  • Shortly after, the cryptocurrency went for a new all-time high and hadn’t looked back since. Just the opposite, ADA’s value has kept increasing and earlier today marked its latest record at around $1.7 (on Bitstamp).
  • Thus, the token’s year-to-date gains are over 830%, despite retracing slightly from its peak.
  • Cardano is currently the 7th largest cryptocurrency with a market cap of over $50 billion.
ADAUSD. Source: TradingView
ADAUSD. Source: TradingView

Source: Crypto Potato

How Did Satoshi Nakamoto Remain Anonymous? A Detailed Look at the Bitcoin Creator

The creator of the world’s first successful blockchain network has been an enigma ever since the mysterious inventor released the white paper over 12 years ago. Interestingly, Satoshi Nakamoto worked on the Bitcoin project publicly for 25 months and 13 days, all while being able to remain completely anonymous.

What the Public Knows About Satoshi Nakamoto Is Different Than What Is Assumed

Satoshi Nakamoto is a very interesting mystery and the inventor of the technological revolution that was invoked by the birth of the Bitcoin network. We don’t know much about Satoshi, except for what the creator told the public while he/she or they were around. Satoshi Nakamoto managed to stay anonymous, while releasing the protocol’s white paper, kickstarting the network, and even dealing with development contributors. Satoshi continues to remain anonymous to this day.

There are hard facts that we do know about Satoshi, and many things we simply assume. For instance, it is assumed that this past April 5th, Bitcoin’s inventor turned 46-years old. But that date, of course, is only if that’s Satoshi Nakamoto’s legitimate age.

The thing is, Satoshi managed to stay unknown the whole time, and to this day people believe the inventor either disappeared for good or is possibly dead. If Satoshi is alive, Bitcoin’s creator is one of the wealthiest individuals alive today because it is estimated that the inventor holds 1 million BTC.

Of course, the approximate number of how many coins Satoshi holds is also unknown, and we really don’t know if the creator still has access to the keys. What we do know for sure, is that Satoshi was exceptional at staying anonymous. Just recently, Bitcoin Magazine’s editor, Pete Rizzo, published a comprehensive report on the alleged final message Satoshi sent on April 26, 2011, and the creator’s last days in the public eye.

According to former Bitcoin Core developer Gavin Andresen and Pete Rizzo’s report, after Satoshi released his final message in December 2010 and published Bitcoin version 0.3.19, Nakamoto asked if Andresen could refer to him more as a “tech lead” than a “mysterious shadowy figure.”

Rizzo’s report says in April 2011 Satoshi wrote:

The press just turns [the mysterious shadowy figure description] into a pirate currency angle. Maybe instead make it about the open-source project and give more credit to your contributors; it helps motivate them.

How Did Satoshi Nakamoto Remain Anonymous? Bitcoin’s Creator Used a VPN, Tor, Anonymous Domain Registration, Anonymous Email

One of the biggest questions people often ask is: How did Satoshi Nakamoto remain anonymous? Well, Satoshi did a great number of things to stay private like not revealing his real name and identity, and choosing to leverage a pseudonymous Japanese surname called “Satoshi Nakamoto.”

Bitcoin’s inventor further chose to associate with people who respected privacy a great deal, and the creator appealed to the libertarian mindset right away. The introduction of Bitcoin was perfectly timed following the 2008 financial crisis that shook the world.

In a number of social media posts on Reddit and bitcointalk.org, it is assumed that Satoshi utilized a virtual private network (VPN) and even Tor. Nakamoto had spoken about Tor before and told the public it was a good way to obfuscate where a bitcoin transaction came from.

In one archived Reddit post published seven years ago, a Redditor explains how Satoshi also registered domains anonymously. The person said that there may be a weakness in the way Satoshi Nakamoto registered with anonymousspeech.com.

“At this time however bitcoin did not exist so he had to either make a wire transfer with Western Union, use Paypal, a bank transfer, or send a check. So they may know who he is,” the now-deleted account said.

Besides Tor and a VPN, it is also assumed that Satoshi Nakamoto leveraged a number of other ideas to conceal his identity. Nakamoto leveraged things like a free hosting company, free webmail, and anonymous webmail too.

“Some [people], including myself, have looked at the timestamps on his Sourceforge commits and mail and forum posts to make guesses of location. Nothing is really definitive,” the deleted account’s comment from seven years ago insists.

The Redditor added:

Even though his efforts to remain anonymous are not bulletproof, they are extreme. He clearly had reason to want to avoid being found. Reasons beyond making an idea more widely attractable through non-attribution.

Why Did Satoshi Remain Anonymous? Was it Because Bitcoin Endangered the Inventor? Or Maybe the Possibility of Death or Imprisonment?

The reasons as to why Satoshi Nakamoto chose to stay anonymous are also assumed and unknown. Predominantly, people believe it was for the inventor’s own safety. Being the inventor of a technology that can bypass corporate control, government manipulation, and work above and beneath the current monetary system has made Nakamoto extremely famous.

People have been hunting for Nakamoto for a very long time and some individuals have even claimed to be Bitcoin’s inventor on many occasions.

Although, none of them have succeeded in proving they are Satoshi Nakamoto, even though a few have tried incredibly hard to do so. Satoshi’s initial years of anonymity have made it so people highly doubt rambunctious individuals doing everything they can to prove they created the protocol.

So how did Satoshi Nakamoto remain anonymous all these years? Well, the inventor was not only clever at designing the protocol, but was also smart enough to leverage great operations security (opsec) while remaining in the public eye.

Satoshi Nakamoto applied and deployed many tools that kept his/her or their identity a complete secret that has lasted the test of time. One thing people assume is that after Satoshi said farewell between December 2010 and the ostensible April email in 2011, is that it is very possible Nakamoto had passed away and remains anonymous because of death.

For instance, some assume Satoshi could have been the now-deceased Hal Finney. Others have pointed at the criminal mastermind Paul Le Roux, who is in jail and cannot communicate to the public even if he was Satoshi in any anonymous manner.

Whatever the case may be, Satoshi deserves a great deal of credit for creating Bitcoin, but also for being able to stay anonymous for more than 12 years if the inventor is still alive.

What do you think about Satoshi Nakamoto and how the inventor was able to remain anonymous for so long? Let us know what you think about this subject in the comments section below.

Source: Bitcoinnews.com

Dogecoin Skyrockets

The popular meme-based crypto-asset dogecoin has seen incredible gains during the last 24 hours jumping over 40% since yesterday. After just recently capturing a $50 billion market valuation, Dogecoin’s market cap now exceeds $71 billion. Moreover, the meme-coin has been eating away at bitcoin’s market dominance, as dogecoin captures 3% of the entire crypto-economy at the time of publication.

Can’t Keep a Good Dog Down

  • Dogecoin continues to rise higher as the crypto asset DOGE has touched an all-time high on Tuesday reaching $0.57 per unit. Dogecoin is up over 45% today and 97% during the last seven days. There is $15.91 billion in global DOGE trade volume on Tuesday morning (ET).

The $70B Meme Coin Market: Dogecoin Skyrockets Past a Half Dollar, DOGE Market Cap Eats Into BTC Dominance

  • Against bitcoin (BTC), dogecoin has gained over 41% during the last day and 51% against ethereum (ETH) during the last week. Doge has captured the fourth position in the crypto economy among the 9,000+ crypto assets in existence today. The meme asset’s valuation is worth more than Honda Motor Company.

The $70B Meme Coin Market: Dogecoin Skyrockets Past a Half Dollar, DOGE Market Cap Eats Into BTC Dominance

  • DOGE has gained a whopping 944% against the U.S. dollar and over 1,000% against bitcoin (BTC) in just 30 days. 90 day stats show that DOGE has jumped 1508% against the USD and more than 900% against BTC over the course of the last three months.
  • Now the BTC network has a little inflation but it is considered a deflationary crypto asset by the community. Dogecoin on the other hand has 129,461,434,269 DOGE currently in circulation and is considered inflationary.
  • A single dogecoin (DOGE) address has 36,711,937,077 in the address at the time of writing and is the wealthiest dogecoin owner today. This address holds more than 28.38% of the entire dogecoin supply.
  • On social media and forums, Dogecoin (DOGE) is trending alongside the hashtags #hodl and other Dogecoin related social media trends.
  • DOGE recently started rising again, after Tesla’s Elon Musk tweeted about his appearance on Saturday Night Live (SNL) on May 8. Last week, Musk’s tweet said “Dogefather SNL May 8” and the Tesla executive has been asking Twitter for SNL skit ideas.
  • “Dogecoin continues to defy expectations within the crypto market. I believe that part of the reason is the hype that surrounds it, which comes from celebrities like Elon Musk and Mark Cuban,” Konstantin Boyko-Romanovsky, CEO and Founder of Allnodes told Bitcoin.com News. “Since the coin has an inflationary supply, it is affordable.”
  • “Mark Cuban sees it as an alternative to Bitcoin for payment transactions. It appeals more to the general public because it costs so little. $60,000 for a single Bitcoin may be intimidating to some. In a way, Doge then is more like a USD but in a digital form,” Boyko-Romanovsky added.
  • At the time of publication, DOGE is exchanging hands for prices between $0.48 to $0.553 per unit, dropping a hair after it touched the recent ATH just a few hours ago.

What do you think about dogecoin’s climactic run-up? Let us know what you think about this subject in the comments section below.

Source: Bitcoinnews.com

Ethereum breaks out to quadruple in value in 2021

Cryptocurrency ether broke past $3,000 on Monday to set a new record high in a dazzling rally that has outshone the bigger bitcoin, with investors betting that ether will be of ever greater use in a decentralised future financial system.

Ether , the token transacted on the ethereum blockchain, rose 3% on the Bitstamp exchange to $3,144.81 in morning deals in London. It is up 325% for the year so far, easily outpacing a 95% rise in the more popular bitcoin.

In part, the big rally is a catch-up to late 2020 gains in bitcoin, said James Quinn, managing director at Q9 Capital, a Hong Kong cryptocurrency private wealth manager.

It also reflects improvements to the ethereum blockchain, he said, and a growing shift towards “DeFi”, or decentralised finance, which refers to transactions outside traditional banking for which the ethereum blockchain is a crucial platform.

“At first, the rally was really led by bitcoin because as a lot of the institutional investors came into the space, that would be their natural first port of call,” Quinn said.

“But as the rally has matured over the last six months, you have DeFi and a lot of DeFi is built on ethereum.”

The launch of ether exchange-traded funds in Canada and surging demand for ether wallets to transact non-fungible tokens such as digital art have also pushed up the price.

The ether/bitcoin cross rate has soared more than…

Continue reading at REUTERS.COM

 

4 New Cryptocurrencies You Need in Your Wallet

Thousands of new cryptocurrencies have popped up since Bitcoin was created in 2009. Some compete with BTC, while others offer some kind of complementary use alongside the first-to-market coin.

Here, we cover four “new” cryptocurrencies launched within the last five years that show a lot of profit potential.

You might be thinking it feels like the dot-com boom all over again with this cryptocurrency stuff. Just look at how many businesses failed in the tech space pre-2000.

 

For many investors, that tech bubble was a graveyard of failed companies. But if you bought Apple Inc. (NASDAQ: AAPL) or Amazon.com Inc. (NASDAQ: AMZN), that graveyard was your playground.

Many cryptocurrency dissenters argue that most cryptocurrencies, too, will end up in a graveyard. They are not wrong.

True enough, there are over 4,000 cryptocurrencies trading right now. And new ones are being added every day, as anyone can make their own.

One man produced a crypto called “Scamcoin” as a joke, and it reached a $70 million market cap in an hour.

But while most cryptocurrencies will fail, those that remain will be the few that offer a combination of utility, security, and marketability.

Thus far, Bitcoin and Ethereum are unbeaten in those departments, with a few “altcoins” – coins other than Bitcoin – battling alongside them.

It’s hard to speculate on how this will play out – it’s still early days in crypto. So we suggest you look at crypto investing like you would startup investing or investing in IPOs.

Diversify across a range of investments and look for quality. That gives you the best chance of landing an investment that will go hyperbolic.

Here are a few new cryptocurrencies that could do just that.

How Cardano Could Replace Ethereum

Cardano has been called the “Ethereum Killer” because it has much of the same functionality as Ethereum, but better.

This is not hard to believe, because it’s founded by five of the initial founding members of Ethereum.

Much of the crypto community looks for quality in the whitepapers released by a cryptocurrency’s creators. Cardano has written over 90, showing research matters a great deal to the team.

This coin was trading for just a few cents a year ago. But it’s rocketed as high as $1.56 since then. From $0.05 to $1.56 is more than a 3,000% return.

That’s huge. But the greatest benefit of holding a cryptocurrency will be experienced in the long term. People want a secure, well-designed cryptocurrency that can hang around for a while.

Like Ethereum, the usefulness of Cardano is in its proof-of-stake consensus model.

Staking is an alternative to “mining.” For actively validating transactions of the currency, you get more currency as a reward.

The more you stake, the higher your rewards.

Unlike Ethereum, Cardano is deflationary; there is a limited supply. That means the value of Cardano becomes increasingly scarce the more is mined, which is a value-add to holding the currency.

Cardano’s vision is to establish decentralized financial products for the whole world and validate other contractual agreements with its blockchain.

Polkadot Brings Blockchains Together

Polkadot is another proof-of-stake coin with a slightly different purpose. Its goal is to bridge gaps between different blockchains.

The best way to look at this is like a building where different blockchains can meet and talk to each other in the same language, even if they spoke different languages outside the building.

Polkadot also connects oracles, which are the trusted sources of online data for settling smart contracts. So, this coin really wants to serve as the prime connector of all things crypto.

The coin was also founded by a founder of Ethereum who didn’t like the way things were going.

Multiple projects are using Polkadot now, and its popularity is accelerating.

Polkadot stands around a $30 billion market cap.

This coin is up 1,130% in the last year, from a few cents to $33. Of course, it will soar much higher if adoption increases and it becomes a primary source for connecting blockchains and oracles.

Chainlink is another “bridge” type cryptocurrency. Specifically, Chainlink is a network of oracles that deliver data to settle smart contracts.

While smart contracts are common, getting the trusted data to settle them accurately and efficiently is not easy. Chainlink fixes this by linking to multiple oracles. It also emphasizes having many sources of data to ensure at least one source will be available when needed.

This expands the capability of a smart contract to a wide range of uses. For example, an insurance company can use sensors to track the speed of a vehicle, with information from those sensors transmitted to the smart contract to calculate a more precise insurance premium in real time.

This kind of communication between sensors, databases, and smart contracts is what Chainlink makes possible.

Chainlink is up over 800% in the last year as the crypto market hype has exploded. But it’s one of the most promising cryptos on the market when you consider its future use.

A single LINK is $35 today. The coin still has plenty to grow at $15 billion market cap.

Tezos Could End Coin Splits Forever

Tezos is another coin that has been referred to as an “Ethereum Killer.” It shares much of the same smart contract functionality.

One advantage to Tezos is that forks are virtually impossible.

See, a “fork” is when a team of developers disagrees in the way a cryptocurrency operates. So they break off and create their own.

Theoretically, a cryptocurrency can split into hard forks for eternity. That would just give you thousands of competing cryptocurrencies with similar functionality; nobody really “wins.”

Tezos, however, prevents these splits by building an amendment process into the blockchain. There’s an entire interface allowing developers to propose and test changes to the blockchain, with stakers voting to approve or reject those changes.

This is not common across blockchains. In many cases, developers would have to break off and create their own coin if they want to implement significant changes.

The best thing is that Tezos trades for just $5 right now, at only $4 billion market cap. This is bound to increase with time. We are yet to see if it will compete or work alongside Cardano as a leading Ethereum alternative.

Put These Tiny Cryptos on Your Radar NOW

A surge of interest from institutional investors is setting the stage for a rally in a slew of small digital coins.

But understand this: These under-the-radar players are much more affordable than Bitcoin.

Some are so hot, even a small stake could transform into a humble fortune in 2021.

One is trading for around $12 – and could deliver a 638% profit by the end of this year.

Our resident Silicon Valley insider is recommending three tiny coins as today’s BEST crypto buys – to get his take on all three, click here.

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