4 Cryptos To Watch in 2021
Ever since Bitcoin exploded onto the crypto scene, it has come to dominate the digital currency conversation. However, it is far from the only or even the best cryptocurrency out there. The last few years in particular have seen the blockchain technology that powers many cryptos continue to evolve and get better. Here we explore some of the more advanced cryptocurrencies that many would argue are far more attractive than Bitcoin, and have more potential in the long run.
#1 – Compound (COMP)
Compound was launched in June 2020, and was founded by a big team led by Robert Leshner who is a chartered financial analyst, former economist and founder of two start-ups. Being founded in 2020, it is a relatively young cryptocurrency. Yet it is the third-largest project in the DeFi sector and its decentralised lending protocol has seen quite the popularity boost. It allows users to earn interest on their coins by depositing them into pools supported by the platform. Once users deposit funds, they receive cTokens which represent their stake in the pool. The tokens can be used to redeem the deposited coins. COMP saw a massive rally in February where its price soared to its current all-time high at $566. The price has dropped lower since then, but it is still proving to be one of the more popular choices among seasoned crypto investors.
#2 – Cardano (ADA)
Named after Ada Lovelace – a 19th-century mathematician who is thought to be the first computer programmer – Ada is a digital currency built upon a proof-of-stake blockchain platform, which is the first to be founded on peer-reviewed research and developed through evidence-based methods. It combines pioneering technologies to provide a high level of security and sustainability to decentralised applications. With Cardano’s support for smart contracts it is a formidable opponent to Ethereum, but with a much more scalable and powerful network. Cardano has experienced a 29% increase in price in recent weeks, and its current market cap is $40.5 billion. Although this sits below Ethereum’s market cap of $172 billion, the growth Cardano is experiencing is second to none and is likely to keep going for the next few years.
#3 – Uniswap (UNI)
Uniswap is a protocol for creating liquidity and for trading ERC-20 tokens on the Ethereum blockchain. It eliminates trusted intermediaries and unnecessary forms of rent extraction. This allows for fast, efficient trading where decentralisation, censorship resistance, and security are prioritised. Uniswap has allowed new projects to list their coins for free, which provides users with an abundance of new investment windows. It has since proven itself to be reliable, fast and easy to use, with excellent liquidity. It also gives liquidity providers the ability to earn rewards in exchange for helping the platform. Uniswap has wasted no time in becoming one of the top cryptocurrencies to watch in 2021. It is currently the 13th largest cryptocurrency by market cap.
#4 – Polkadot (DOT)
Polkadot was created to enable a completely decentralised web where the users are in control, not the ISPs. It is built to connect private and consortium chains, public and permissionless networks, oracles, and future technology that has yet to be created. Polkadot facilitates an internet where independent blockchains can exchange information and transactions in a trustless manor. It was founded by the Web3 Foundation, who are a Swiss foundation to facilitate a fully functional and user-friendly decentralised web. Polkadot has been around for a number of years but only launched the genesis block of its Relay Chain back in May 2020. However, since then it has taken a long time for there to be any drastic price movement, but things seem to be reaching a turning point. In February, the price of Polkadot reached a new all-time high at $42, which is a price gain of more than 350% year-to-date.