Cryptocurrencies have been one of the most actively discussed topics and controversial themes since the last year. One of the main reasons for it might be named the global pandemic that made people stay at home and do everything from their houses/apartments. It also hit the global economy and many people started thinking about alternative sources of income and appeared that the crypto-industry was able to offer them what they wanted. We all have information or some kind of association with bitcoin, however, there are thousands of other coins on the market and the increased demand on the market played in favor of those coins. Expect bitcoins, there are several other cryptocurrencies that give people very valid possibilities to gain and generate their profits, such as Ethereum, Tether, Cardano, Binance coin, Stellar, Dogecoin, etc. The article will review some of the top coins and emphasize their main characteristics.
In the past three months, Cardano coins price has seen an uprise by 766%. Experts consider that there were three main events that had influence over it.
First and foremost, it was the launch of Shalley in July, which is designed to increase the number of nodes that network participants run. More nodes mean more decentralization and improved security on the Cardano network. If the number of daily transactions was from 1500 to 2000, after the increased number of nodes today it marks more than 25000 in a day.
Secondly, we should mention the ongoing reinvestment in its blockchain project. The engineers are working really hard to give the users the possibility to create smart contracts, that take effect when present conditions are met. It will increase the involvement of those, who may not have an understanding of programming.
Last but not least, the popularity of Cardano was increased when the company Grayscale declared trust towards it. This does not mean that Grayscale will offer an investment tool in the case of Cardano, but the investors are still excited about the possibilities and upcoming changes.
In the past three months, Dogecoin has seen a 2,330 % increase in price. If you look up to Reddit and Twitter, you will see how many people are gathered around this coin. Most importantly, one of the richest people in the world, Elon Musk has also shown support for the coin by Twitting about it.
Surprisingly or not, the creation of Dogecoin in 2013 was a joke from Billy Markus and Jackson Palmer who decided to combine the two most buzzworthy things on the internet, cryptocurrency and the Doge meme featuring a Shiba Inu dog. Most recently, it has found different uses, such as become implemented in the entertainment industry, more specifically, the use of Dogecoin for online gambling appeared to be very efficient and convenient. It gives people the possibility to execute exchanges easily, quickly and not waste several hours or even days on completing them.
We can boldly say that Stellar has crushed bitcoin over the past three months. It has an uprise by 588% and it has the valuable reasons for its increase.
One of the driving factors of its recent success is its incredible payment network speed. When the traditional banking system demands several days to approve transactions, Stellar can do it in several seconds. It means that stellar speeds up supply chains by making payments more efficient.
After the announcement was made in early January, that the Ukrainian government was working closely with Stellar to create a central bank digital currency, it means that the coin is going to play an important role in that decision-making process.
Finally, to sum up, it is vivid that in the crypto-industry there are many other coins that are playing a very important role and not the only bitcoin that should be considered as an opportunity to become involved in the market. The main aspects to take into consideration before deciding which coin to start the trade or investment process, it to analyze what you are expecting as an outcome and which coin meets your expectations and requirements. All of them have a different use, different purposes and all of them might give you the different outcome, but at a glance at recent three months, we can boldly say that they are outperforming bitcoin by their increased price percentage and many experts think that this is merely a beginning and that many other coins have the same possibilities as well as it happened in the case of above-mentioned coins.
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