What Is the Next Big Cryptocurrency To Explode in 2021?
What currencies can you purchase right now to increase your chances of success soon?
These and other questions are being posed by the numerous cryptocurrency bounty hunters looking to profit from the unprecedented run seen over the last few months.
In fewer than 14 months (March 2020 – April 2021), the price of Bitcoin increased from $5,300 USD to over $60,000.
With that stated, we have seen the telltale signs of a very risky purchase — price reductions of 30% or more in a matter of hours.
While pursuing the next significant cryptocurrency, it’s essential to keep in mind that the long-term financial worth of crypto-assets is uncertain. You could make a lot of money, or you could lose it all.
What Cryptocurrency Will Explode Like Bitcoin in 2021?
Who will be the next cryptocurrency winner is anyone’s guess. There is no straightforward way to study them all, with over 9,000 coins available for analysis on the interwebs.
One way to narrow your selection is to consider the coin’s public attractiveness as indicated by its market capitalization.
As of August 2021, the top 5 Cryptocurrency to invest in 2021 based on this measure are as follows:
- Bitcoin (BTC)
The crypto market is utterly obedient to Bitcoin’s whims and commands. Bitcoin currently controls over 40% of the next-generation financial need and is also the most valuable, recently surpassed $40K.
Bitcoin had gained more than 9 million percent since 2009, when it was a minuscule $0.008, and is one of the finest cryptocurrencies to buy, considering its tremendous upside.
- Ethereum (ETH)
Ethereum is the next generation of blockchain technology and a strong candidate for our list of the best cryptocurrencies to buy. While Ethereum is a distant second to Bitcoin, it was the first blockchain platform to support smart contracts (digital forms of agreement between two transacting parties). This invention has spawned a slew of ground-breaking solutions, the most notable of which are decentralized applications or apps.
Decentralized finance (DeFi), which aims to supplant traditional financial services, has also thrived, with billions of dollars in total value locked up in the subsector (TVL). Ethereum is increasingly migrating to a proof-of-stake (PoS) protocol, which has a favorable effect on the importance of its tokens. Ether has soared in value following the recent release of the London hard fork (a set of five upgrades).
- Dogecoin (DOGE)
Dogecoin has been a revelation this year, gaining popularity among crypto investors as a joke cryptocurrency. Due to its extraordinary gain of 15,000 percent, it is one of the finest cryptocurrencies to purchase this month. A Bitcoin rip-off, Dogecoin began as a parody of the crypto community due to the recent increase in crypto protocols.
However, the dog-themed cryptocurrency has established a following and is now being courted by famous personalities such as Elon Musk, CEO of Tesla and SpaceX. Additionally, it has become the pioneer of a new breed of digital assets to portray the cryptocurrency ecosystem as a benign platform for generating significant returns.
- Shiba Inu (SHIB)
Shiba Inu, dubbed the “Dogecoin killer,” is a dog-themed cryptocurrency looking to build a name for itself. Shiba Inu was founded in August 2020 by another pseudonymous persona and has since become a much-talked-about digital asset due to its meteoric rise to fame.
Its astounding rise of 21,000 percent in a single week makes it one of the top long-term investments. Despite its close association with the shitcoins (worthless digital tokens) category, Shiba Inu is gradually establishing a new identity for its expanding community members.
- Binance Coin (BNB)
Binance coin was introduced in 2017 and is the cryptocurrency exchange’s native token. It is a stable coin that was established on the Ethereum network in the beginning. It is now compatible with the Binance Chain.
On August 11, 2021, Binance Coin has a market capitalization of $67 billion.