John Divine, who closely follows cryptocurrencies and technology stocks, shared his ideas under the title of “7 cryptocurrencies to buy now”. Divine’s list includes Bitcoin and 6 cryptocurrencies. The analyst details the brief history and price movements of the projects for each of his choices. In the rest of the article, you can reach the biggest altcoin projects from the pen of John Divine. He says that cryptocurrencies on the analyst list belong to the risky asset class, so only invest in amounts where possible losses are acceptable. In the first place, of course, there is Bitcoin…
John Divine sums up how Bitcoin went mainstream with these two moves
The invention of Bitcoin (BTC) in 2009 changed money and its concept forever and opened the door to all kinds of variations and improvements in its technology. It’s hard to underestimate the importance of Bitcoin and the concept underlying Blockchain that accompanies it, but 12 years later, Bitcoin’s first mover advantage has combined to push its market cap to over $1 trillion.
BTC, the leading “blue chip” cryptocurrency, is not only tried and true, but continues to set new milestones: Tesla Inc.’s (TSLA) decision to put Bitcoin on its balance sheet and El Salvador’s decision to put it in a legal way. The bidding move are two landmark 2021 actions that show how BTC has gone mainstream. BTC’s entry into corporate finance is still in its early stages, with trillions of dollars on corporate balance sheets still lying dormant in cash or cash equivalents.
Bitcoin can be shared by altcoin projects, according to the analyst
While Bitcoin has been the leading crypto from the very beginning, Ethereum emerged as a force to be reckoned with in 2015 and is perhaps the only other token for which any business is considered a blue-chip crypto. Ethereum’s market share in the burgeoning and rapidly growing decentralized finance space, or DeFi, is slowly chipping away at Bitcoin’s share of the overall crypto market. At the beginning of 2021, Bitcoin made up 70.7% of the market and Ethereum only 10.8%. Today, the gap narrows significantly with BTC 45.1% and ETH 18%. But only a third of Bitcoin’s dwindling market share can be attributed to ETH – the rest largely attributed to some of the best cryptocurrencies to buy it.
Altcoin Solana (SOL) marked 2021!
Solana quickly burst onto the scene in 2021, rising from uncertainty. SOL had a 0.01% market share to start the year – by September it had become one of the top 10 cryptocurrencies by market cap. Like Ethereum, Solana has become a leader in DeFi, where users can create decentralized applications, or Dapps for short, eliminating traditional financial watchdogs such as exchanges, brokers, clearinghouses, and the banks themselves.
Innovation isn’t always a plus, but with Solana: The Ethereum-like network has been quick to attract quality engineering talent due to the underlying Rust programming language that is extremely easy to use. Two other improvements SOL has over ETH: The network has both faster speeds and much lower transaction fees. Solana’s price has increased nearly 100 times from $1.51 to over $160 in 2021 alone.
The economy of the play-to-win gaming platform Axie Infinity Shards (AXS)
As the field evolves, the best cryptocurrencies to buy tend to become increasingly obscure. Enter Axie Infinity Shards (AXS), a blockchain-based game management token reminiscent of Pokemon. It is a player owned game where AXS acts as the voting mechanism.
Built on the Ethereum Blockchain, Axie Infinity is a great example of the free-spinning creativity that can occur on the Blockchain these days. The ecosystem is unique because it has been proven that an incentive game can be created and successfully maintained on a decentralized network. Besides simple fun, the win-win options encourage continued use, and each character is their own unchangeable token or NFT that can be leveled up through gameplay. AXS has gone parabolic this year, rising from 57 cents to its current level of around $126.
Features that Cardano (ADA) and others lack
While not quite in the league of Ethereum or Bitcoin, according to John Divine, Cardano is a tough candidate among the top cryptocurrencies to buy. It is the third largest altcoin project by market capitalization, next to Bitcoin and Ethereum. The first ADA – the native currency on the Cardano Blockchain – appeared in September 2017 and is younger than both Bitcoin and Ethereum.
Cardano’s appeal is multifaceted: it was founded by Ethereum co-founder Charles Hoskinson. Unlike ETH and instant reliability, it also has a hard cap on the number of cryptocurrencies that can exist in 45 billion. Another advantage over many other cryptos: Cardano uses a PoS protocol to incentivize users to create new blocks; This is a process that some experts estimate is 20,000 times more energy efficient than Bitcoin’s PoW algorithm.
Cryptocurrencies of exchanges: Altcoin Binance Coin (BNB)
Coinbase Global Inc. (COIN) attracts media attention when it comes to cryptocurrency exchanges, while Binance is the largest global exchange by volume. Binance was originally based on the token issued via the Ethereum Blockchain, but has since gone live on its own Binance Blockchain. As with several other cryptocurrencies, it has a maximum supply of BNB capped at 200 million. Currently, more than 168 million are already in circulation.
A catalyst for Binance’s cryptocurrency’s rise over the years is Binance’s goal of reducing the overall supply by 50%. To this end, Binance “burns” BNB quarterly to reduce supply. Three burns announced this year destroyed 6,016,504 BNB – the equivalent of about $2.5 billion at today’s prices. Since the initial coin offering in 2017, the price of BNB has risen from 10 cents to around $415. In 2021 alone, BNB increased by nearly 1,000%.
Last place is Wilder World (WILD)
The least known and riskiest among the best cryptocurrencies to buy right now is Wilder World, which was one of the newest coins around after its launch in May 2021. First up: Prudent investors should only entertain WILD as a small, speculative HOLing – its lack of history and market cap of $118 million (others on this list are worth between $7 billion and $1.05 trillion) make it an outlet. – gamble out. But holding small cryptos that could “reach the moon” can sometimes be quite lucrative. Caveats aside, WILD is the governance cryptocurrency of the Wilder decentralized autonomous organization that has created a metaverse. Digital artists can create and sell NFTs in the ecosystem with the WILD token acting as the native currency. Wilder World does not charge artists for the sales they make in the ecosystem.
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