Next Cryptocurrency to Explode in 2021
With over 10,000 cryptocurrencies out there, many enthusiasts are wondering what the next cryptocurrency to explode in 2021 will be? To say the crypto market has experienced volatility this year would be a huge understatement. However, through all of the ups and downs, the crypto market remains of interest to investors.
The Next Cryptocurrency to Explode in 2021 is…
How We Got Here: From Dog Coins to Moon Shots
Socrates once said that the only true wisdom is in knowing that one knows nothing. Not unlike some modern crypto influencers who take to Twitter and ask for followers to shill them alts, the Greek philosopher understood that sometimes greater powers activate randomly. Understandably, this can make it difficult to develop a solid investment strategy. But not even the most sage crypto investors could have predicted some of this year’s wild moments. DOGE, a “joke” coin that captured the affections of a capricious billionaire like a fairytale princess might, was at $.002 last summer before rocketing past 70 cents during a recent run. Suddenly, no one is laughing anymore.
The coin that isn’t even listed by Coinbase — although, unsurprisingly, the exchange is now publicly discussing a listing — has somehow come out on top, and DOGE’s success may transform into its own self-fulfilling prophecy. With bullish analysts theorizing that DOGE could eventually reach a market cap of a trillion dollars at some point in the future, one has to accept that it is a distinct possibility. After all, that aforementioned capricious billionaire has stated unequivocally that he will not sell. And, as we’ve seen already this year, stranger things have happened — like Vitalik Buterin burning $7 billion worth of a new dog coin called SHIB.
Philanthropy and Forks—The Dazzling Possibilities of ETH
Speaking of Vitalik, it’s important to note that many crypto stars step up when it comes to charity. Buterin, for example, recently donated over a billion and a half dollars worth of ETH and SHIB to COVID relief in India. And although SHIB seems to be more of a trend coin, Vitalik’s Ethereum is anything but. With the recent explosion of NFTs, mainly on the ETH blockchain, keep an eye on RARI and other NFT tokens. One cannot overstate how important a role ETH may play in the coming years. Did a recent run up to over $4,000 portend the future? With the London hard fork happening in July, some are predicting that the ultimate altcoin will rise mightily with the upgrade.
Of course, any discussion of philanthropy and forks also needs to address Cardano (ADA). Although it has had its share of ups and downs like any other cryptocurrency, ADA has experienced a great deal of growth within the past few months and continues to be a darling of many in the crypto community. With its own highly anticipated hard fork — Alonzo — looming in the very near future, there are some who believe Cardano may become the next cryptocurrency to explode in 2021.
To BNB or Not to Be
Like a few of the aforementioned coins, BNB’s fortunes have also been heavily influenced by an enigmatic billionaire. In this case, the impresario in question is the founder of Binance, Changpeng Zhao, commonly referred to as “CZ” within the crypto community. If we’ve learned anything in the crypto space thus far, it is that having one of these strong personalities front and center does tend to pump up a coin. A recently executed burn should help to keep the coin lively, encouraging investors to make some moves. For those who prefer to HODL and not do so much day trading, BNB may serve as a good option.
Speaking of Binance and CZ, there is a very intriguing token on the Binance platform. This token possesses the potential to make some big moves in the next several months. Contentos (COS) is a project that has received a considerable amount of investment from Binance Labs. In concert with affiliated decentralized apps (dApps), such as COS.TV, Contentos presents a strong use case. The founder, Mick Tsai, is another crypto enthusiast who loves to publicly promote his project. Although COS has been around for a few years now, we have yet to see just how far it can go. Many in the crypto space have speculated that a listing from Coinbase could help COS skyrocket to over a dollar.
Use Cases Make for a Good Case
For most serious crypto investors, coins like DOGE are anomalies. Many prefer to back coins like COS that are backed by strong whitepapers. VeChain (VET), for example, offers up assistance with tracking inventory. With real businesses successfully using this technology, it is easy to see why crypto investors have flocked to VET. Similarly, Stellar Lumens (XLM) also attempts to solve a problem. In this case, the token has set payment systems squarely in its sights. It’s a winning proposition.
Attempting to make the transfer of currency easier, indeed, is what made Elon Musk rich. This is what serves as the primary purpose of cryptocurrency in the first place. From that first fateful day when an astronomical amount of Bitcoin was exchanged for some pizzas, we have seen just how popular the concept is. The question in XLM’s case, however, is whether or not governments are willing to get involved. If Ukraine does decide to dip its toe in the XLM waters, then we may see the project rocket to the moon faster than a Saturn V engine.
Yet another project that provides interesting solutions is BitTorrent (BTT). Once most commonly associated with the illegal pirating of movies and TV shows, BitTorrent has redefined its reputation and come a long way within the past few years. After all, internet users will always need viable ways to share files online. With TRON founder Justin Sun now in the mix, BTT’s future prospects do indeed appear fascinating these days. Those who pick up some BTT now may see their investment rise considerably.
The Next Cryptocurrency to Explode in 2021?
Can an Oldie but a Goodie Get Some Love?
Although it was one of the first coins listed on Coinbase, Litecoin (LTC) has received considerably less attention than some of its peers — and perhaps that should change. After all, Litecoin’s creator is an engineer who actually worked for Coinbase. Built for speed and efficiency; unlike so many other cryptocurrencies, Litecoin is fairly easy to mine. With PayPal and RobinHood now offering up LTC on their platforms, is it time for this “middle child” of cryptocurrencies to finally have its moment? All signs would indicate that this is very possible.
During this extraordinary moment in the evolution of crypto, in fact, a bit of reflection may provide the missing link. With some projects resurrecting and running on whims while others continue to patiently build in the meantime, there has never been a more exciting time to invest in crypto. For day traders and HODLers alike, digital currency has never shined quite so brightly as it does right now.
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About Ben Broadwater
Ben Broadwater is the Director of Investment U. He has more than 15 years of content creation experience. He has worked and written for numerous companies in the financial publishing space, including Charles Street Research, The Oxford Club and now Investment U. When Ben isn’t busy running Investment U, you can usually find him with a pair of drumsticks or a guitar in his hand.