Who is Going to Become the Next Big Crypto King

Source: unsplash.com

Cryptocurrencies are making significant headway when it comes to gaining value by digital assets. Currently Bitcoin holds the lion’s share of the crypto market but experts suggest that there is a possibility of more cryptocurrencies rising in value and maybe even surpassing Bitcoin in the time to come. Bitcoin has been seeing a steady rise in value but at the same time the rise in value of different altcoins cannot be ignored. Altcoins include all the cryptocurrencies other than Bitcoin. To get to know Bitcoin better, visit bitcoineranew.com/de.

The crypto market is flourishing and there are a lot of cryptocurrencies that are currently valued at more than 1 billion dollars. After Bitcoin the second cryptocurrency which has been taking the market by storm is Ethereum. Following a dream of many other cryptocurrencies worth looking into. But before we talk about the potential crypto kings, it is worth mentioning that old coins tend to have more price volatility in comparison to Bitcoin. They are comparatively a riskier investment so vigilance and prudence is advised.

Let us see the top contenders that can become the next crypto king:

Ethereum (ETH)

Source:

Ethereum is the second largest cryptocurrency dominating the market so it is natural that it will be mentioned in a list for the next crypto king. Even though Bitcoin hit an all time high in 2021, Ethereum shot up about eight hundred percent then its previous value. More masters are choosing Ethereum and decreasing its price volatility. The decentralized finance feature of this cryptocurrency is a major benefit for any investor.

Celsius (CEL-USD)

Source: newsbitcoin.cash/

This platform was launched in 2017 and it is based on the principle of of providing interest to investors on the basis of their holdings. Users will have to make a group to saving account first to earn interest on their holdings. Celsius can be accessed through its website as well as its mobile app so the convenience of using it becomes a major factor. Currently, Celsius trades at 5 US dollars. This platform also offers certain rewards and payouts for users.

Tether (USDT)

Source: anycoindirect.eu

After Ethereum, Tether is an altcoin which holds a significant proportion of the crypto market. Originally designed to be valued at 1 US dollar, Tether is a stablecoin and is chosen for its low price volatility as compared to other cryptocurrencies. Together is meant to be used as an alternative to traditional currency and thus provides convenient withdrawal methods.

Filecoin (FIL-USD)

Source: cryptoitunes.com

Filecoin is the next entry analyst because much like Bitcoin, it is a decentralized system which protects it on multiple levels. The aim of this cryptocurrency is to protect the information of the users which decentralization helps greatly in. Based on mining and storing data, the user can incentivize their participation. In 2021 Filecoin was being traded at 22 US dollars which has now risen to 66 US dollars. It is currently the 27th largest cryptocurrency in the market but has the potential of being the next crypto king.

Polkadot (DOT)

Source: smartbettingguide.com

Polkadot is a decentralized protocol that can be traded like any other cryptocurrency. It is one of the biggest blockchains in the market and is currently being traded at the value of 27 US dollars. It is a personal favourite of many investors because of the speed of the transactions and the security it offers for all the investments. Reliability is highly valued for crypto investments which makes Polkadot a worthy contender.

Elrond (EGLD-USD)

Source: chaindebrief.com

This contender is fairly new and has risen to new heights in just two years since its launch. Elromd was launched in July 2022, the main benefit of this altcoin was sharding. Essentially, the strength of Elrond lies in its capability to facilitate a large number of fast transactions at the same. The founders of the cryptocurrency have aimed at overcoming the limitations that come with scalability. Elrond is currently the 37th largest cryptocurrency in the market and has been traded at around 270 US dollars.

Stellar (XLM)

Source: i0.wp.com

Released in 2014, Stellar has seen significant growth in recent times and is worth mentioning in this list because it really has the potential to become the next crypto king. This decentralized protocol is known for its easy cross border transactions and low exchange costs. This platform has a built in cross platform decentralized exchange.

Terra (LUNA-USD)

Source: quoracdn.net

This is a cryptocurrency that makes good use of its fiat based stablecoins. Luna is the native currency of Terra. Luna is used up for burned to stabilize the price volatility of Terra. This base layer blockchain makes its way to this list because of its latest update. With the new inter blockchain communication of Terra, both Luna and Terra will be able to transfer to and from different networks. This altcoin has seen a 30% rise in the last month alone it currently trades at 43 US dollars.

Solana (SOL-USD)

Source: cnbcfm.com

Solana was launched in 2022 with a decentralized finance system. Decentralized finance has a number of advantages that include open banking and smart contracts. More and more people are refusing Solana for decentralization and non-fungible tokens. The blockchain protocol of this particular cryptocurrency operates on proof of history and proof of stake. We have included Solana in a list of the top contenders for crypto king because of its capability to go head to head with major altcoins like Ethereum. Solana is currently traded above 200 US dollars.

The Takeaway

We mentioned multiple contenders to become the next crypto king because the market sees a lot of upward and downward trends that can change the face of the crypto market. Even though Bitcoin has a great hole on the market for now it is very well possible that any of the old coins mentioned in our list take over the dominance.

Source: unsplash.com

Other cryptocurrencies like Cardano, Cosmos and Ripple have also seen significant growth. Decentralization, security, and speed of transaction will remain to be major factors deciding whether or not a particular cryptocurrency will make it big.