Many tokens have experienced significant growth in functionality and adoption in recent years. This has paved the way for some to rival the leading altcoin Ethereum. ETH may have become expensive and unattainable for many people. Crypto expert Abdulkarim Abdulwahab examines 5 Ethereum rivals that he says are ready for a significant uptrend.
Ripple (XRP) is at the top of the list
XRP is the leading altcoin that is expected to create a significant uptrend in the upcoming bull season. XRP’s Blockchain, XRP Ledger (XRPL), has a set of utilities for both crypto and traditional financial media. XRPL has received the support of corporate companies with its error-free operation for over a decade. Developers are using XRPL to pioneer Blockchain projects and applications in various use cases. These include online gaming, asset tokenization, custody, decentralized finance (DeFi) and Non-Fungible Tokens (NFT).
cryptokoin.comAs you follow from , more than 1,500 projects operate on XRPL. Additionally, Japan’s financial giant SBI started using XRP to facilitate cross-border payment between Asian countries in September 2023. XRP’s importance in the financial world is increasing. Considering this situation, experts predict the potential for XRP to reach double-digit or even triple-digit values in the coming years.
Let’s look at the powerful Ethereum rival Cardano (ADA)
Cardano (ADA) is a $20 billion cryptocurrency led by Charles Hoskinson. ADA has high potential in the emerging bull market. Like XRP, ADA is among the top ten most valuable tokens after Ethereum. Cardano serves a variety of practical purposes, with agricultural companies using it to track fresh produce from planting to consumption. Additionally, the platform makes it easy to store education credentials in a tamper-proof manner. In addition, it enables individuals to effectively combat counterfeit products.
ADA is currently trading at $0.5478. Influential figures in the community expect the asset to reach $10 this market cycle. The basis for this optimistic goal lies in the previous performance of ADA, which reached $3 without smart contracts or functional DEXs in the last bull cycle. With the current presence of various tools on Cardano, community members have their eyes set on the $10 mark.
We don’t forget Polygon (MATIC), an Ethereum Layer-2
Polygon’s MATIC token is an eight billion dollar crypto project with a market cap of approximately $0.8735. The Polygon network is a robust Layer-2 scaling solution for Ethereum. It addresses challenges such as high gas charges and network congestion. According to data, it is capable of processing 65,000 transactions per second on a single sidechain. Additionally, the block confirmation time is less than two seconds.
In particular, Polygon has the support of well-established players in the crypto market such as Binance and Coinbase. In 2024, several factors are poised to drive explosive growth for Polygon, especially its scaling capabilities. Additionally, his team announced a new roadmap last year that included the rebranding of MATIC as POL token.
Justin Sun’s Tron (TRX) is also on the list
Tron (TRX) ranks as the 12th most prominent crypto with a value of over $9.4 billion. Tron Blockchain has various applications including smart contracts and stablecoins. According to defiling data, Tron is the second largest network behind Ethereum for facilitating stablecoin transactions. Note that stablecoin’s market share was $133.84 billion at the time of reporting. Tron has a significant share of 37.46% in this field. The next competitor, BNB Chain, has a smaller share of only 3.2%.
Last place Ethereum competitor: Algorand (ALGO)
Algorand has emerged as a Blockchain platform that provides security, scalability, and decentralization. The emphasis on speed and efficiency has become a defining feature of Algorand. Thus, making it an attractive option for developers. According to reports, the Algorand mainnet demonstrated the capacity to process around 1 million transactions per day three years ago. ALGO is trading at $0.1887. ALGO is among the 50 most valuable cryptocurrencies.
The opinions and predictions in the article belong to the expert and are definitely not investment advice. We strongly recommend that you do your own research before investing.
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