When we talk about cryptoactives, bitcoin appears almost as a synonym for cryptocurrencies. However, despite being the best known currency, it is not the only one on the market. Currently, it is estimated that there are over 10,000 cryptos available for investment.
Bitcoin, Ethereum, Polkadot, Cardano, Binance Coin and Uniswap: these are just some of the names of these thousands of cryptoactives, which are part of the ranking of the most promising cryptocurrencies on the market, according to the Monnos platform.
Check out the complete ranking below:
1 – Bitcoin (BTC)
2 – Ethereum (ETH)
3 – Polkadot (DOT)
4 – Cardano (ADA)
5 – Binance Coin (BNB)
6 – Uniswap (UNI)
7 – PancakeSwap (CAKE)
8 – Theta (THETA)
9 – Avalanche (AVAX)
10 – Compound (COMP)
“As expected, Bitcoin is the cryptocurrency that leads the ranking. Part of this is thanks to its performance in 2020, as the asset yielded more than 400% in the last year alone. Furthermore, within the crypto market , Bitcoin is the one with the most domain, with occupation above 50%. In practice, this means that when its valuation increases, that of other cryptoactives tends to rise as well”, explains Rodrigo Soeiro, CEO of Monnos.
Closely with Bitcoin, however, is Ethereum, which even though it is not so popular outside the investment world, is very relevant to cryptoeconomics. “Ethereum is a decentralized open source blockchain network, focused on executing smart contracts and building decentralized applications. It enables the constitution of a good part of the tokens currently available in the cryptoeconomy, such as the MNS Token itself, a Monnos cryptocurrency”, specialist.
And Cardano, is it?
Occupying 4th place in the ranking is Cardano, which in 2021 has already valued more than 600%. “2021 was not even halfway through and Cardano already had an appreciation of more than 600%. Therefore, it is another cryptocurrency that needs to be watched closely, not only for its appreciation, but for the project behind it, which in the long term demonstrates a lot potential”.
Created in 2017, Cardano is distinguished by this crypto designed to ensure that all owners participate in the network operation. This means that, in practice, everyone in possession of Cardano has the right to vote on any changes that the software may have.
Another growing currency that deserves a lot of attention from cryptoinvestors is the Binance Coin (5th place), which is already the third largest cryptocurrency in the world, only behind Bitcoin and Ethereum. “Binance Coin was created as a ‘utility token’ to encourage the use of the Binance platform, and it has already become something much bigger than the platform, so much so that, in the last 12 months, it rose 3,000%,” says Rodrigo.
With information from: Monnos.