Cryptocurrency or digital currency is becoming one of the hottest topics to discuss nowadays, the crypto market has never been so volatile as it is now. Many people are confused about the right time to invest in the crypto market as they don’t want their savings to be wasted due to the highly volatile nature of cryptocurrency.
There are more than 4000 digital currencies out there which and few of them hold great profitability potential. Unlike stocks and commodity markets, the crypto market is decentralized, there is no mechanism to control or regulate the speculation of virtual currencies. The demand and supply mechanism impacts the crypto market more than anything. The prices of digital currencies rise when there has been a change in supply or demand.
Digital currencies trading has become the new trend, and investors keep their sharp eyes on emerging and profitable cryptocurrencies. Some cryptocurrencies like bitcoin and Ethereum always remain top trending whereas some cryptocurrencies escalate their position in the market gradually. This article would assist you in providing a real insight into some of the top trending cryptocurrencies of 2021.
Bitcoin
It would not be fair to start the list with any cryptocurrency other than bitcoin. Bitcoin is the first-ever digital currency to introduce blockchain technology into the spotlight. Bitcoin’s popularity is widespread throughout the whole world and millions of people have invested in it due to its highly volatile nature.
There are multiple crypto trading platforms like the BitQT website where you can earn from the speculation of digital currencies. Being the pioneer in the cryptocurrency business, bitcoin is widely used as a payment by many businesses. The recent fall in the price of bitcoin indicates the opportunity to invest in it, as it could be concluded from its previous history that it would go up again after a shortfall. The current price of bitcoin is 37,578 USD.
Ethereum
Ether is the native digital coin of Ethereum blockchain platforms which is considered one of the most strong and stable digital currencies in the crypto market plus it is also the second most popular digital currency after bitcoin. It was the first virtual currency to introduce smart contracts that enable developers to create mobile and desktop decentralized applications which are powered by blockchain technology.
It holds the status of the second-largest cryptocurrency by market capitalization. There is a great profitability potential in Ether coin, but not like bitcoin. The price of Ether does not fluctuate wildly in the market, and the uncertainty level is quite low. You can earn from its price speculation a reasonable amount of return, not massive. The current price of Ether is 2,335 USD.
Bitcoin Cash
Bitcoin Cash was launched in 2017 with an intention to provide a solution to the problems associated with bitcoin. The blockchain technology on which the first-ever cryptocurrencies were based has a limited capacity to handle loads of transactions. The blocks in which information about crypto transactions is stored contain 1 megabyte of data, and as it became more popular the blocks started to get filled with data resulting in a slowing down of bitcoin transactions and high transaction fees.
Bitcoin developers came up with a solution and introduced bitcoin cash which allows more frequent and faster transactions, plus the transaction fee has also been reduced which makes it one of the emerging cryptocurrencies. The current price of bitcoin cash is 653 USD.
Dogecoin
It is hard to find a cryptocurrency that has the same journey as Dogecoin. It was initially an internet meme that turned out to be one of the most prominent cryptocurrencies of 2021. All the eyes are on Dogecoin as its price surged more than 12000% in 2021, making it the fourth-largest virtual currency by market cap.
Recently, the tech genius and entrepreneur “Elon Musk” tweeted about dogecoin which further escalates its market value, and investors are holding their money from other cryptocurrencies and investing in Dogecoin as it has become the most active and profitable cryptocurrency to trade in 2021. A few years back, no one would have imagined seeing the phenomenal rise of such a currency which was started off as a joke. The current price of 0.34 USD.
Conclusion
The crypto market is trending at an enormous speed and more investors are investing funds in buying top cryptocurrencies like bitcoin, dogecoin, bitcoin cash, and Ethereum. The rise of these four cryptocurrencies seems to be prominent for the next couple of years.
