Tuesday, July 27, 2021

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    Five popular cryptocurrencies that earn more than bitcoin in 2021

    Bitcoin is the most popular cryptocurrency and its price still appreciates in the year by 13 percent, despite the regulatory harassment launched by countries such as China or the United Kingdom and the confrontation with the international community.

    The expansion that took the world’s most popular digital currency to its all-time highs this year lost steam for these reasons. However in the critptographic market there are still very good alternatives among the most popular ‘altcoins’.

    Altcoins are digital currencies that are used to capture a value proposition different from that of bitcoin. For example in the environment of decentralized finance (DeFI) or smart contracts. Simply put, it’s everything that’s not a bitcoin.

    Among the thousands of assets that make up the crypto investor universe, the most popular ‘altcoins’ offer revaluations much higher than bitcoin.

    Ether disputes the throne of the market to bitcoin

    The most popular of all the ‘altcoins’ is ether, the currency of the Ethereum network, that maintains a war with bitcoin to gain control of the market, as explained in an extensive report INVESTMENT. So far this year it’s up 182 percent.

    Analysts see it as difficult to overtake bitcoin in trading but admit that it is an expanding currency.

    in addition, the technological developments being prepared by the network from this summer onwards will lead to a reduction in the money supply, which will push up on ether by increasing its scarcity.

    The problem with ether is that it lacks the institutional adoption that bitcoin does have. However, everything changes very quickly. Without going any further, the Bank of Israel is testing the Ethereum network in internal tests with the digital shekel.

    Uniswap is the decentralized exchange reference

    With a rise in the year of 265 percent, the uniswap is another emerging ‘altcoin’ that has been gaining the favor of investors.

    It is a decentralized exchange protocol created on the Ethereum network which facilitates the trading of digital assets. It does not need an order book and allows its users to trade without intermediaries.

    It had its golden moment between January and April of this year, when it revalued almost 1000 percent.

    Chainlink is the most popular currency among oracles

    The reference among the digital currencies known as ‘oracles’ is the chainlink. Serves for connect the real world with the Decentralized Application DeFi ecosystems. The year is up 50 percent.

    The usefulness of this type of coin is to allow to transfer the information from the real world to the blockchain, in this case that of Ethereum. That is, smart contracts run with the data they provide.

    Therefore, the use of the chainlink will be greater as more momentum this network receives. Basically, this coin is based on the smart contract operations of the Ethereum network.

    Stellar lumen, the financial connection of the blockchain

    Another currency to take into account for its evolution is the lumen, the digital currency of the Stellar network, according to the firm ‘The tokenist’. In the year it goes up almost 100 percent.

    It serves to connect different financial institutions through the blockchain, so that it is possible to make exchanges of digital money to fiat quickly and securely.

    As they explain in Bit2me, it is not designed to be a means of direct payment but rather an intermediary in the conversion of currencies. It’s very similar to ripple. Therefore, the price of the lumen is highly correlated with this currency.

    The currency cannot be mined and the money supply is in the hands of the Stellar Development Foundation, which holds about 90 percent of the lumens. Perhaps it is their weakest point, which creates the most mistrust.

    Aave, the alternative for loans with cryptocurrencies

    Finally, the ranking of ‘The Tokenist’ places the aave as another currency to consider. In the year its revaluation is 147 percent.

    It is a decentralized finance project specialized in lending with cryptocurrency guarantees. It involves depositors, who provide liquidity, and borrowers, who receive the credits.

    Due to its nature, the aave is a suitable currency for traders to receive passive income. Those who borrow should put cryptocurrencies as collateral.

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