This year, we have seen a drastic contrast in the crypto market. While Bitcoin is dominating the market with its soaring market value, a certain number of altcoins related to decentralized finance, in particular, are on a very bullish trend. And why not? The field of cryptocurrencies has expanded dramatically ever since Bitcoin – the first digital currency – was launched. Although BTC is leading the pack in terms of popularity, user base, and market capitalization, other digital currencies like Ethereum, DOGE, Ripple, etc., are being used to create decentralized financial systems. Altcoins are being promoted with newer and useful features than BTC, such as using different consensus algorithms like PoS (proof-of-stake) or the potential to manage multiple transactions per second.

All in all, altcoins are on fire. Investors, particularly the new ones, are exploring the altcoin space, as they believe they are a better solution with real innovation in decentralized finance.

We have factored this into our consideration and will talk about some of the altcoins that are on a bull run.

#1 Ethereum (ETH)

Ethereum is the first Bitcoin alternative that is more than just a cryptocurrency. It is a decentralized software platform that enables decentralized applications and smart contracts to be built and operated without any control, fraud, interference, or downtime from a third party. Recently, VISA, the credit card provider, had made a smart move of piloting transaction settlement in stablecoins on the ETH blockchain. At the time of writing this post (Wednesday, 5 May 2021), Ethereum had a market cap of over $375 billion and a per token value of $3242.41.

#2 Dogecoin (DOGE)

Dogecoin is blowing up, with its price surging roughly by 40% on Tuesday, 4 May 2021. With a market cap of $88 billion, DOGE is one of those altcoins that you would never want to miss investing in. Many high-profile investors like Elon Musk and Mark Cuban have made several tweets and posts in support of DOGE. At its current value, Dogecoin is worth more than bank Santander, car maker Mitsubishi, and gaming company Nintendo. Started as an internet joke, this latest cryptocurrency star is named after a popular meme of a Shiba Inu dog. Today, it is the fourth-largest cryptocurrency behind BTC, ETH, and Binance Coin.

#3 Binance Coin (BNB)

BNB is a utility cryptocurrency designed to operate as a payment method for charges associated with trading on the Binance Exchange. It is one of the most widely used exchanges across the globe that allows token holders to trade cryptocurrencies at a discount. BNB was initially an ERC-20 token, which operated on the Ethereum network. Eventually, it had its own network once the blockchain protocol was fully developed and launched. With a market cap of over $96 billion, BNB is trading at $625.19. As compared to today’s per token price and market capitalization, BNB had just $6.8 billion in market capitalization and a value of $44.26 in January 2021. So, you can see the leap the altcoin has taken during the first quarter.

#4 Ripple (XRP)

According to investors, 2021 is the best time to invest in XRP. XRP is a service token that enables users to participate in banks to promote global money transactions. Most importantly, Ripple can be used as an interchange medium for fiat and cryptocurrency. Ripple has a market cap of $63 billion with a per token value of $1.4. In the last couple of years, Ripple has seen a rising acceptance across the industry. The company has managed to build its consumer niche, extending its presence in conventional markets.

Final Words

Altcoins are changing the crypto space for good with their innovation and use cases. If they are truly successful, there will be thousands of tokenized assets trading on blockchain, enabling investors and enthusiasts of different levels to take part in and understand the new modes of transaction with blockchain and smart contracts components. We can say that Bitcoin will just be one of them in the future, and certainly not the most attractive.