It is no secret that Bitcoin’s dominance is slowly decreasing, making room for other altcoins to shine. Altcoins, if you’re not sure what they mean, are the other cryptocurrencies that launched after the success of Bitcoin, and market themselves as the better alternatives, hence the word Alt in Altcoins.
In this article, we’re going to list 5 interesting altcoins that represent great buying opportunities. If you’re looking for Bitcoin alternatives, this article is for you.
1- Ethereum (ETH)
The most obvious Altcoin to buy is currently Ethereum, and this is due to several factors:
- It is currently the second biggest by market cap
- There are talks of a Flipenning in place
- Smart contracts added value
- A strong current uptrend momentum with a 2K price target in sight
We did discuss in a previous article why Ethereum has a huge opportunity, and a few days after, prices breached USD 1,600.
Current Price: USD 1,627
Market Cap Rank: #2
2- Uniswap (UNI)
Coin #2 on the list is the native token for the decentralized exchange, Uniswap. Robinhood has been giving decentralized exchanges free advertising on a global level. People are starting the realize the benefit of a decentralized exchange, and with Uniswap locking more than USD 30 Billion in January, it is about to have its best month ever. If you look at the current price chart in figure 2, you will see that after an extended price consolidation of about USD 2.5, Uniswap’s price shot up to its current ATH price of USD 20.5 making about 500% in 1 month!
Current Price: USD 20.34
Market Cap Rank: #14
3- SushiSwap (SUSHI)
Enter coin#3, Sushiswap! It is said that this coin is eating up Uniswap’s market share ever since the YEARN merger ecosystem. If you’re bullish on Uniswap which is currently at its ATH, you should also consider its rival SushiSwap, as competition drives advancement and innovation.
A recent research from MessariCrypto showed how profitable SushiSwap has been. In January 2021 alone, SUSHI stakers have raked $6 million in fees.
Current Price: USD 15.74
Market Cap Rank: #26
4- Injective Protocol (INJ)
Injective Protocol is a decentralized derivative trading open 24/7. Again, amid the Robinhood backlash, many decentralized exchanges gained fame, and Injective Protocol is one of those projects that rose in prices, all due to investors shifting their attention from traditional finance to the DeFi market.
Injective Protocol launched its world’s first Decentralized “Commission-Free” Gamestop futures trading amid the Gamestop Fiasco, and many have been describing this project as the Robinhood of the DeFi market.
Current Price: USD 12.48
Market Cap Rank: #109
5- Cardano (ADA)
Cardano has major news happening in a few months, where they claim that all of the blocks on the Cardano network would be produced by independent stake pool operators, and the company behind Cardano will no longer participate in block production. This is good news, as this is what you’d want to see in a truly decentralized blockchain network on the market.
Since now we are in a bull market, it would be a good idea to buy Cardano now, in anticipation of this news becoming reality.
Current Price: USD 0.42
Market Cap Rank: #6
All the above coins (except Ether) were less than 10$ less than a month ago. They all present very interesting projects that have daily applications in the world of finance. Although they are on an uptrend, it is very important to always consider a stop-loss price to take into consideration in case the market turns sour on an aggregate level. Instead of holding through losses, it’s a good idea to get out of the trade and enter with a better and lower price. The Stop-loss price depends on the investor/trader’s risk appetite.
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