London, UK, 4th March 2022, ZEXPRWIRE, There’s no question that bitcoin was the biggest star of 2020. The cryptocurrency climbed more than 60% in a year, from just under $29,000 to around 46K – or about 2x what it had been prior to reaching heights above 63k by April this past summer! It hasn’t always been easy though; there were some pretty hefty crashes along the way too namely when prices dipped below 30k towards mid-July where they’ve only recently begun recovering again close enough later on yet still falling short at times. Still despite all these setbacks, CMCBits broker says we’re looking forward with optimism knowing someday soon bitcoin will break that all-time high.
- The digital currency revolution is here: Bitcoin
Bitcoin isn’t the only cryptocurrency on the rise with Ethereum and Litecoin also seeing some impressive surges in value as well. Granted their prices are still a fraction of bitcoin’s but there’s no doubt that these alternative coins are starting to make their presence felt. In fact, if this trend continues then it’s only a matter of time before they too overtake bitcoin as the top dog in the crypto world.
While Bitcoin saw its dominance over the asset class shrink considerably during this year, “altcoins” (other cryptocurrencies that aren’t BTC) performed much better. Of all crypto market capitalization on Jan 1st, 2021, 70% was accounted for by one coin – but by Dec 31st 40%. Sure bitcoin did well…but not enough to keep up with its smaller share!
- Ethereum cryptocurrency – the future of digital currency?
Ethereum is a great example of how digital currency can be powerful and profitable. The world’s second-largest cryptocurrency, it started 2021 under $740 and ended above 3rd wheeling – roughly quintupling in just one year! And that last figure represents a pullback from its November all-time highs around 4891 when Ethereum’s market cap surpassed half-trillion dollars for the first time ever.
Many experts are attributing Ethereum’s success to the growth of decentralized applications (dApps), with developers favoring its platform over Bitcoin for building new projects. This is mainly due to Ethereum’s more flexible programming language, which makes it easier to create contracts and transactions.
- Litecoin: The Silver To Bitcoin’s Gold
Litecoin is another great example of a successful cryptocurrency. It started 2021 at around $30 and finished it at over $200 – a 6x increase! Litecoin has long been considered silver to Bitcoin’s gold, and it’s clear that investors are starting to see the value in this as well.
- Avalanche- The Next Ethereum Killer?
This is the year that Avalanche, one of several smart contract cryptocurrencies dubbed an “Ethereum killer” due to its low fees and fast processing speeds has potential for huge growth. In 2021 this cryptocurrency gained 3k%! It’s not too late yet either- with only just over month left in 2022 there are still many opportunities ahead where you can make some easy money by investing now before they go up even more next year…
- Polygon: The Faster, Cheaper Ethereum Solution
Polygon offers a way for Ethereum to become faster and cheaper without compromising security. It does this by pulling together various layers of an already existing network that improves the performance, bandwidth capacity as well as eliminating costs associated with developing new blockchains or upgrading old ones in order to satisfy demand from users who want faster transactions speeds than what one blockchain can provide them.
Polygon’s main goal has always been making sure everyone gets their fair share whether they’re sending money across borders instantly no matter where you live relative ease compared to the existing system or developing a dApp on Ethereum.
- The Enjin Project: Non-Fungible Tokens
The Enjin project is all about non-fungible tokens, and they’re booming. Non-fungible tokenized items like music or videos can be stored on a blockchain to ensure their authenticity with an encrypted digital certificate that’s only accessible by using specific keys–no matter what device you use!
This means we’ll soon own our favorite game gear in addition to taking care of collectibles: it changes everything when these types of valuable goods become seamlessly transferable between users through smart contracts.
- XRP and Stellar Lumens Cryptocurrency
XRP and Stellar Lumens are two other cryptos that have seen impressive growth in 2020. XRP started the year at just $0.27 and finished it at over $0.50, while Stellar Lumens began at $0.09 and ended up at over $0.20. Both of these coins have seen their prices increase significantly in recent months, and there’s no indication that this trend will stop anytime soon.
It is clear that Bitcoin still remains the king of cryptocurrencies, but its crown is starting to be challenged by the likes of Ethereum, Litecoin, XRP, and Stellar Lumens. These altcoins are proving to be more than just a passing fad, and they are here to stay. So don’t be surprised if, in the years to come, Bitcoin’s market share drops even further as these other coins continue to grow in popularity.
Disclaimer: Our content is intended to be used for informational purposes only. It is very important to do your own research before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on this article and wish to rely upon, whether for the purpose of making an investment decision or otherwise.