The price of Bitcoin has risen more than 10,000 times since its creation, leaving many people millionaires. But there are many other cryptocurrencies (altcoins) with unique technologies that can have a very high valuation too, considering a horizon of 1 or 2 years. In this article we will see some of the most promising cryptocurrencies for 2021, check out:
Cardano is one of the most promising cryptocurrencies, as it aims to serve not only as a currency, but also as a platform for smart contracts (similarly to Ethereum, which is the second most valuable cryptocurrency on the market today). Cardano has many differentials in relation to its competitors, it is the first project that has academic peer-review and formal software verification. In other words, the project architecture is carefully analyzed and validated to ensure maximum security and to avoid code failures, as has already happened with Ethereum. The team that is developing the project is one of the strongest in the market, containing specialists in the most diverse areas. The project aims to be a more user-friendly platform, to be more scalable (allowing for faster transactions), and to be more robust. As Cardano is still in the development phase today, the price is very low, and it is possible that until the official launch of its smart contract platform (which should occur in the middle of 2021), many companies and even governments will start to use your system, bringing a great appreciation to your currency.
To this day (2021), there is still no project that is competing directly with the Secret. Secret basically consists of a platform for creating smart contracts using Blockchain, with the difference of allowing these contracts to be secret. This brings a new range of sensitive applications, where data cannot be shared (for example: medical data, confidential company information, etc.). Using Secure Multi-Party Computation technology, Secret ensures that it is possible to verify the authenticity of the information without exposing it. Many important launches of the project are scheduled for 2021, which should bring a lot of attention from the market.
It is a very little known and off the radar project, but it has a lot of potential. It focuses on traceability of the food supply chain, working with sensors that send information about food conditions. The project is already running and has more than 6000 businesses / companies using its ecosystem. TE-FOOD has a greater focus on developing countries. The project has some highlights in its product in terms of features for monitoring via cell phone, allowing the customer to know what they are eating. It is impressive that it is already running and expanding its customer network with real applications every month. One of the recent partnerships was with General Electric (GE Aviation). It seems to be a big project with a very low market cap. In its speech, TE-FOOD comments that blockchain projects (such as Ambrosus and Vechain) are not competitors, mentioning that the real competitors are the processes of traditional industries that do not work with blockchain, and this is where they want to enter (perhaps even in the future in partnership with other projects in the Blockchain). It is an intelligent speech in my view.
IOTA is a cryptocurrency created for the internet of things. The internet of things is a branch of technology that has grown a lot in recent years, and everything indicates that it will continue to grow exponentially, especially with the arrival of the 5G internet. It is the connection of electronic devices to the internet, from household equipment to industrial devices. In the future, all electronic devices will be connected to the internet and will communicate with each other by sending data and information, allowing remote control and measurement. To allow automatic payments and data accounting, IOTA has developed a system that operates more efficiently than traditional models. Today IOTA already has partnerships with universities and large companies, everything indicates that the potential for appreciation of this currency is great given its usefulness and the size of the market in which it operates. In the official roadmap of the project, a very important delivery should take place at the end of 2021, which is the elimination of the figure of the coordinators, making the network 100% decentralized, this can agitate the market.
Vechain was created with the consumption of products in mind. Inventory control and company logistics in the most diverse sectors go through many difficulties due to the high flow of information. In this field, blockchain technology can be very useful, and this is Vechain’s key concept: to serve for product tracking, registration, sending and querying information from Blockchain technology. The project already has partnerships with companies from different sectors, from automobiles to wines, and everything indicates that it should grow a lot in the next year as the popularization of the technology increases. Some companies that are already testing Vechain technology are BMW and Renault. The CEO of Vechain was once chief technology officer at Louis Vuitton in China.
Siacoin operates in the field of file sharing in a decentralized manner (using Blockchain technology), serving as an alternative to traditional systems such as Dropbox, Amazon, among others. By working with innovative technology that does not depend on intermediaries, Siacoin allows each person to share disk space on their computers and sell it to third parties, creating an innovative market that results in much more interesting values for buyers. It is a trend for the future, so the currency’s appreciation potential is high.
How many cryptocurrencies are there?
In all, there are already more than 7,000 different cryptocurrencies on the market. Many of these projects are just plagiarism, but others are quite promising.
Note: Large financial institutions are creating financial products and entering this market with strength. Some examples are: the Intercontinental Exchange (responsible for the operation of 12 stock exchanges around the world, including the New York Stock Exchange), Fidelity Investments (one of the largest asset managers in the world, with $ 2.4 trillion in custody) , the Chicago derivatives exchange (Cboe), the American technology exchange (Nasdaq), JP Morgan (largest bank in the USA), Mitsubishi UFG (largest bank in Japan), among many others. Were they all wrong?
Only in 2020, we had the following news:
- Billionaire Paul Tudor Jones‘ statement saying he owns more than one digit of his Tudor BVI fund in Bitcoin;
- Another billionaire (Stanley Druckenmiller) saying that he owns Bitcoin and that it should perform better than Gold;
- MicroEstrategy revealed that it has already purchased more than $ 300 million in BTC (and continues to buy more);
- The hedge fund Miller Value Partners LLC increased its stake from 5% to 30% in Bitcoin;
- Grayscale (the world’s largest cryptocurrency manager, which holds BTC for 20 major financial institutions) reached the incredible $ 10 billion mark in BTC;
- A leaked report from Citibank pointed to the possibility for BTC to reach $ 300k by the end of 2021;
- Paypal has announced that it will allow cryptocurrency trading;