The Top 10 Emerging Cryptocurrencies to Watch in 2021 from the FORM 700 List
Cryptocurrencies have been taking the world by storm over the past few years, and 2021 is no exception. With a market capitalization of over USD 1.2 trillion, this sector is continuously evolving, and new players are coming onto the scene.
The FORM 700 list is a new entrant into the market, and as we approach the halfway mark of 2021, these are the top 10 emerging cryptocurrencies to watch out for.
1. Cardano (ADA)
Created in 2017 by Ethereum co-founder Charles Hoskinson, Cardano is the first blockchain project to be created on peer-reviewed scientific research. Cardano aims to create a more secure and sustainable decentralized world by using a proof-of-stake consensus algorithm instead of the more energy-intensive proof-of-work.
Cardano has been gaining a lot of traction recently, with its market capitalization growing by over 600% since the start of the year. It is currently trading at around USD 1.53.
2. Chainlink (LINK)
Chainlink is a blockchain-based middleware platform that aims to connect smart contracts to external data sources. It aims to bridge the gap between off-chain data sources and on-chain smart contracts, making smart contracts more useful in various industries.
Chainlink has been growing rapidly, with its market capitalization increasing by over 200% since the start of the year. It is currently trading at around USD 41.
3. Aave (AAVE)
Aave is a decentralized lending platform that allows users to lend or borrow crypto-assets without the need for an intermediary. It uses a unique liquidity pool model that incentivizes liquidity provision and allows for nearly instant borrowing.
Aave has been growing exponentially, with its market capitalization increasing by over 400% in the past six months. It is currently trading at around USD 584.
4. Binance Coin (BNB)
Binance Coin is the native token of the Binance exchange, one of the largest cryptocurrency exchanges in the world. The token has many use cases on the exchange, including paying for trading fees and accessing exclusive features.
Binance Coin has been one of the best-performing cryptocurrencies in 2021, with its market capitalization growing by over 1300% since the start of the year. It is currently trading at around USD 398.
5. Polkadot (DOT)
Polkadot is a next-generation blockchain platform that allows different blockchain networks to interact with each other. It aims to solve the problem of blockchain interoperability and scalability.
Polkadot has been growing rapidly, with its market capitalization increasing by over 220% since the start of the year. It is currently trading at around USD 34.
6. Compound (COMP)
Compound is a decentralized lending platform that allows users to borrow or lend crypto-assets as collateral. It uses an algorithmic interest rate, which adjusts based on the supply and demand of each asset on the platform.
Compound has been gaining a lot of traction in 2021, with its market capitalization growing by over 350% since the start of the year. It is currently trading at around USD 623.
7. Ethereum Classic (ETC)
Ethereum Classic is a decentralized blockchain platform that aims to continue the original vision of the Ethereum blockchain before the DAO hack in 2016. It is a fully decentralized and open-source platform that allows anyone to build decentralized applications on top of it.
Ethereum Classic has been growing steadily, with its market capitalization increasing by over 300% since the start of the year. It is currently trading at around USD 89.
8. Maker (MKR)
Maker is a decentralized lending platform that allows users to borrow or lend crypto-assets without the need for an intermediary. It uses a unique governance model that allows users to vote on decisions related to the platform.
Maker has been growing rapidly, with its market capitalization increasing by over 100% since the start of the year. It is currently trading at around USD 3,963.
9. Polygon (MATIC)
Polygon is a Layer 2 scaling solution for Ethereum that aims to solve the problem of high transaction fees and slow transaction times. It allows for faster and cheaper transactions while still leveraging the security of the Ethereum network.
Polygon has been growing rapidly, with its market capitalization increasing by over 1400% since the start of the year. It is currently trading at around USD 1.40.
10. Uniswap (UNI)
Uniswap is a decentralized exchange (DEX) that allows users to trade cryptocurrencies without the need for an intermediary. It uses an automated market-making (AMM) system that allows for liquidity to be automatically provided by users.
Uniswap has been growing steadily, with its market capitalization increasing by over 200% since the start of the year. It is currently trading at around USD 26.
Conclusion
The cryptocurrency market continues to grow and evolve, and these top 10 emerging cryptocurrencies from the FORM 700 list are definitely ones to watch out for. As always, it’s important to do your own research and invest wisely.
