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Cryptocurrencies are exploding in popularity and mainstream awareness. Part of that is because of the skyrocketing values of some of those coins. A prime example is the meteoric growth of Bitcoin over the years. Bitcoin’s price started at $0.0008 at its debut in 2010 and soared to recent highs of more than $60,000.
Of course, Bitcoin isn’t the only cryptocurrency on the market. There are thousands of similar digital currencies available, with more being created every day that might be the next big cryptocurrency.
5 Cryptos To Keep an Eye on in 2021
With all of the soaring crypto prices, many investors are likely wondering about the next cryptocurrency to explode in 2021. Can prices continue to increase from record levels? Many analysts say they can.
Crypto Price Analysis
- Some experts believe that Bitcoin will reach its next peak well above $100,000, despite recent market volatility.
- Another senior hedge fund executive believes Bitcoin will hit $250,000.
- Elon Musk recently said he thinks Dogecoin will beat Bitcoin “to the moon.”
But what about new cryptocurrencies? What is the next big one? Here are some of the top new cryptocurrencies to consider in 2021.
1. Internet Computer (ICP)
Internet Computer (ICP) is a new token launched in May 2021. It saw immediate success, with a market value of $35 billion in its first three days. The coin now has a market cap of $8.7 billion and is currently trading around $70.55. The project’s goal is to overcome the current limitations of the Internet and replace it with a modern Internet. You can purchase this coin at Binance.
2. Enjin (ENJ)
Enjin is an Ethereum-based cryptocurrency recently launched to provide backing for non-fungible tokens. One use case is for developers to manage in-game purchases using its blockchain technology. The coin has a market cap of $1 billion and is currently trading around $1.37. You can purchase Enjin at eight different markets, such as Binance.US and Crypto.com.
SafeMoon is an altcoin that just launched in March 2021. This coin is a community-driven, fair-launched DeFi token. In just a couple of months, there are already more than 2 million holders. The coin has a market cap of $2.2 billion and is currently trading around $0.000003715. An unusual feature of the currency is that it penalizes users who sell their tokens. A 10% fee is applied to the seller, and half of that is redistributed to other holders. You can purchase SafeMoon in nine different markets.
NKN is a new blockchain-based token designed for a decentralized Internet. It supports millions of nodes, 100% decentralized peer-to-peer operation, and low latency. NKN has a market cap of $212 million and is currently trading around $0.2933. You can purchase NKN at Binance.
While currently not for sale, Facebook’s Diem is one of the most anticipated coins to launch in 2021. Formerly known as Libra, Diem is a centralized, global, stable cryptocurrency project. For investors wanting a more stable cryptocurrency, this might be a good option. Investors expect Diem to have low volatility because of its reserves of other currencies and assets.
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2021 Crypto Highlights
The volume of crypto news and happenings is increasingly growing along with its popularity. Here are just some crypto highlights so far in 2021.
Gemini Partners With Mastercard and WebBank
Gemini, a cryptocurrency platform, recently announced a partnership with Mastercard and WebBank for a new credit card. This credit card is the first to provide crypto rewards on purchases. It will reward cardholders with up to 3% back on qualifying purchases. Unlike traditional credit card reward programs, this card delivers rewards as soon as the qualifying transaction occurs.
Most Expensive Miami Beach Penthouse Sold in Cryptocurrency
The most expensive Miami Beach penthouse recently sold for $22.5 million, entirely in cryptocurrency. This is the largest known residential real estate transaction completed in crypto. This deal is not the only one. For example, the owners of the most expensive penthouse at One Hyde Park in London listed their property for sale with the option to buy via crypto.
Guggenheim To Launch New Fund With Possible Bitcoin Exposure
Guggenheim Partners, one of the largest global investment and advisory firms, recently filed with the SEC to create a new fund, called the Active Allocation Fund. The filing indicates the fund “may seek investment exposure to cryptocurrency (notably, Bitcoin).” Analysts believe that this fund and another fund Guggenheim created last November could have Bitcoin exposure.
Apple May Be Considering Cryptocurrency Support
Many analysts think a recent Apple job posting indicates that the company is seriously considering cryptocurrency payments. The new role is called “Business Development Manager – Alternative Payments” and will focus on Apple’s Wallets, Payments and Commerce team.
Of course, this is all speculation, but it could mean the company is warming up to the idea. It wouldn’t be the first time that senior executives have been open to the idea. In 2019, Jennifer Bailey, the vice president of Apple Pay, said they were watching cryptocurrency even back then.
New Cryptos Created Daily
New cryptos are created every single day, and it would take forever to list them all. Of course, not all of these new coins will experience the same success as Bitcoin and others, but there’s no shortage of new coins to investigate. For example, thirteen new coins were listed on CoinMarketCap in just one day this week.
Where To Buy and Sell: Popular Cryptocurrency Exchanges
Exchanges enable traders and investors to buy, sell and track their cryptocurrency assets. Here are four of the best cryptocurrency exchanges in 2021.
Coinbase is one of the most popular crypto exchanges today, with over 56 million verified users. The company employs over 1,700 people and operates in over 100 countries. Coinbase was also recently listed on Nasdaq in what was considered one of the most anticipated initial public offerings of 2021.
Kraken is a global rival to Coinbase and serves more than seven million customers. Notably, the company’s trading volume in May had increased sixfold since January. Also, in a recent move to capitalize on the crypto craze, Kraken recently launched its trading app in the United States.
Binance.US is another popular exchange for U.S. investors. This exchange spun off from Binance in September 2019. Binance.US offers excellent features like high security, recurring buys and low fees. The main downside is limited access in the U.S., with seven states still not supported.
Bittrex is a relatively new exchange founded in 2014. The exchange boasts a custom-built trading engine for high speed and scale. Through Bittrex, investors have access to over 250 of the world’s most popular crypto markets.
About the Author
Scott Jeffries is a seasoned technology professional based in Florida. He writes on the topics of business, technology, digital marketing and personal finance. After earning his bachelor’s in Management Information Systems with a minor in Business, Scott spent 15 years working in technology. He’s helped startups to Fortune 100 companies bring software products to life. When he’s not writing or building software, Scott can be found reading or spending time outside with his kids.