Which cryptocurrency to buy in 2021 when more and more new coins appear on the market every day? Of course, one should not give up investing in the largest assets by market cap — BTC and ETH — but which other cryptocurrencies are also worth buying? Here is the list of the top 5 best cryptocurrencies to buy in 2021! Let’s get started!
In October, investors changed their investment preferences in favor of Bitcoin. The main reason for this was the launch of the first ETF based on digital gold and the expectations of further steps by the American authorities.
According to Bloomberg sources, the industry will soon receive a comprehensive regulatory strategy. Based on previous statements by officials, one can assume that regulators will choose a strict and somewhat repressive approach towards most cryptocurrencies. That is, the market may be divided into assets recognized by the US authorities and those that don’t have this status.
It’s clear that Grayscale Investments and its competitors have high chances of falling into the first category, in addition to ETH and BTC already in it. They create investment products for institutions that are not free to trade on crypto exchanges yet. Approved altcoins may include Binance Coin, Ripple, Cardano, and Polkadot. These assets have a chance to keep pace with the market, or even better.
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Binance Coin (BNB)
Binance Coin and Cardano are attractive in terms of increasing competition in the DeFi space. A London hardfork and EIP-1559’s fee burn mechanism failed to rid the ETH network of high transaction fees. This gives an additional chance for ETH competitors, which can offer a higher level of bandwidth, albeit at the expense of a decrease in the degree of decentralization, as is the case with Binance Coin.
On October 12, the Binance crypto exchange launched a fund to develop and support the Binance Smart Chain ecosystem, which uses its native token. The level of the fund amounted to an impressive $1 billion, of which a tenth went directly to a liquidity mining program. MCDEX.io and Deri.finance became the program’s first participants.
For comparison, a native token of the Avalanche project, which launched similar incentives, has grown by 73% in the last week alone. At the same time, TVL in DeFi projects based on this blockchain has grown more than 18 times in two months. One should not expect such dynamics from BNB and its ecosystem due to its large scale. Still, this will have a positive effect, and investments in this cryptocurrency may become pretty promising in the long term.
If you are thinking about which cryptocurrency to buy in 2021, take a look at Cardano. Its ADA token, which is the sixth-largest cryptocurrency by market cap as of November 2021, may overtake competitors after its official appearance in the DeFi space.
News about the unlocking of deployed smart contracts (this functionality appeared after the Alonzo hard fork in September) can become a trigger for buyers. In addition, the team predicts that hundreds of projects will go live by the end of the year.
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The XRP token may receive a positive revaluation and become a promising investment due to litigations decided in favor of Ripple. The company may be able to prove that XRP is not a security.
In late September, Ripple launched a $250 million fund and announced its ambitious plans relating to NFTs. The main payment business of the company is also developing. Ripple’s technical solution can be used to launch CBDCs by several central banks in Asian countries and the UK.
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Polkadot, like Cosmos, is focused on solving the problem of blockchain interoperability. The first series of auctions to launch 11 parachains will run from November 11 to December 15 every seven days. After eight days, the next series starts, which will continue until March 9. The community should approve such proposals.
Potential projects need to have a sufficient amount of DOT tokens to participate in auctions. The cryptocurrency will also be supported by the news about the integration of DOT with Wanchain, which is a set of bridges to Ethereum, Avalanche, Moonriver, and Wanchain.
Today, we’ve considered the top 5 best cryptocurrencies, which are worth buying in 2021. As of November 2021, the entire cryptocurrency market seems to be going through a correction phase. However, most analysts working with these assets believe that it won’t last long.
Still, remember that, unlike Bitcoin, altcoins can decrease in price significantly — up to 20-30%. Therefore, the decision on which cryptocurrency to buy in 2021 must be made by carefully studying the charts and market news.
Which cryptocurrencies do you find the most promising ones? Feel free to share your thoughts in the comments below!