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A decade after Satoshi Nakamoto created Bitcoin, there are hundreds of cryptocurrencies but only a handful of them constitute approximately 99% of the market’s volume. While investors are usually hesitant about new currencies in general, and cryptocurrencies in particular, many are now eager to get in on the crypto market action. Indeed, the rough start of cryptocurrencies did not anticipate the time when one Bitcoin’s value reaches $60,000. So, if this example encouraged you to invest in crypto, you may wonder what are the popular digital currencies of the moment. In this article, we go over the most traded cryptocurrencies of 2021 for worthwhile investments and the expectations for the future.To get more news about ospreyfx, you can visit wikifx.com official website.
Bitcoin
Finding itself atop most cryptocurrencies lists, Bitcoin is often considered the original crypto that started a movement. Along with the blockchain technology it relies on, Bitcoin was created with the intention to replace paper currencies as well as the need for financial institutions. While we can definitely say that the value of Bitcoin is subject to extreme volatility, it is also known for having the most liquidity among digital currencies. It remains one of the most popular cryptos.
Ethereum
The next in line is certainly Ethereum. However, the concept behind is slightly different than its predecessor. Ethereum is the advanced blockchain technology behind the crypto Ether. Thus, the main idea behind it is to decentralize the internet by replacing servers with a system of nodes. At the time of writing, ETH has a market cap of approximately $250billion. And this figure is up from $19billion only one year ago. In addition to that, Ethereum has a loyal community behind it which contributes to its long-term stability. While other smart contract platforms followed claiming to offer better features, Ethereum retains its favorable position.
Ripple
Another popular crypto on the market is Ripple. Indeed, XRP is often referred to as the ‘establishment cryptocurrency’ due to the support it gathered from banks and institutions. With a similar approach to Ethereum, Ripple has its own blockchain platform designed to make cross-border transfers easier and more efficient.
Litecoin
Leading the rivalry with Bitcoin, Litecoin combines the best features of its predecessor with faster transaction times and less complex system requirements. In addition to high liquidity and a large market cap, Litecoin can be mined using a personal computer. The creators of this digital currency hoped it would be used to pay for goods and services. Finally, its limited supply increases interest and demand in the long run. Therefore it is seen as an appealing investment and a contender to keep an eye on.
Neo
Released in 2014, Neo’s aim was to improve the blockchain technology, and it quickly got dubbed the China-based Ethereum. Essentially, Neo is a smart contract platform that gained a lot of credibility and value along the way. In fact, Neo tokens are used to prove ownership of assets rather than as assets themselves. Consequently, investors see it as an ideal cryptocurrency for clear transfers of shares and equities. Thus, it deserves to be on your crypto watchlist.