THE MARKET

4 new promising crypto coins to be discovered in 2021

Hier
Written by

At the beginning of 2021, it is estimated that there will be nearly 8,500 crypto-currencies in circulation, which is considerable. Although 75 % of the crypto-currency capitalization is concentrated on Bitcoin and Ethereum, there are many other virtual currencies with an interesting profile. The emerging crypto-currencies are mainly virtual currencies with medium capitalization. Here are 5 crypto-currencies with high potential and little known to be discovered.

USD WEDGE: A STABLE WEDGE INDEXED TO THE DOLLAR
In February 2021, USD Corner is the 12th largest crypto currency in the world, capitalised at 8 billion dollars. This crypto currency is based on the Ethereum blockchain and has one main objective: the stability of the price of the USD Corner. It is also known as the Stable Corner.

Indeed, the USD Corner is 100% indexed to the dollar, in other words: 1$ = 1USD Corner. This crypto currency (token) is issued by the company Circle since 2018, a company partly owned by Goldman Sachs. For each USD Coin in circulation, Circle insures the equivalent in its reserves. At the beginning of 2021, the number of USD Corners (8.25 billion at the beginning of 2021) in circulation thus corresponds entirely to the capitalisation of the virtual currency.

Its success is therefore based on the digitalisation of the dollar. The speed of exchanges in USD Corners based on the Blockchain has been a significant success since its launch.

USD Coin rates
AAVE: A NUGGET OF DECENTRALISED FINANCE

Aave is in the top 20 of the world’s crypto currencies (18th), capitalised 4 billion dollars. Aave is a very special virtual currency, often considered as the promising crypto currency of decentralised finance.

Aave was launched in 2017 by Stani Kulechov and is also based on the Blockchain Ethereum. Aave allows the borrowing and lending of crypto currencies without intermediaries. Credit intermediaries are being replaced by smart contracts. If the conditions are met, loans are made without intermediaries thanks to the Aave system.

In the Aave system, lenders charge interest. There are two types of loans: flash loans, which do not require collateral. The other feature that is often more appreciated is the delegation of credit. In this system, borrowers can use virtual currency as collateral to take out a loan. Loan operations are carried out with a system that ensures the creation of legal agreements (OpenLaw), which can then be used as a basis for legal recourse in the event of a dispute.

To date, these loans are particularly useful and widespread among users who know each other beforehand. At the heart of the possible financial practices of the future, Aave has enjoyed excellent momentum in recent months.

Aave courses
DASH: A CRYPTO FOR FAST, ANONYMOUS AND LOW-COST TRANSACTIONS

Dash is the 34th largest crypto currency in the world with over $2 billion in capitalization. Dash is similar to crypto currencies such as LiteCoin with the ambition to enable faster and above all anonymous transactions, based on the Bitcoin Blockchain. Dash thus ensures instantaneous remittances by improving the Bitcoin Blockchain system.

Created in 2014 by Evan Duffield and Kyle Hagan, Dash has not had the same enthusiasm as Bitcoin or LiteCoin in recent months, but it does offer advantages in terms of use.

Dash course
ELROND (EGOLD): A CRYPTO CURRENCY IN REFERENCE TO GOLD

Elrond is an average cryptomonnaie with a lot of media coverage. With a capitalization of 1.8 billion dollars, Elrond (eGLD) is in the top 50 of the world’s cryptomoney systems (44th).

Elrond is a crypto currency co-founded in 2017 by Benjamin Mincu, Lucien Mincu. This smart contract platform aims to provide extremely fast transactions to enable the development of decentralised finance systems and the internet. In other words, eGold is a virtual currency based on the Blockchain Ethereum without the problems of the Blockchain Ethereum. The reference to gold is not unfounded. The limited amount of eGOLD in circulation (31,415,926) ensures a certain scarcity.

Furthermore, the Blockchain Elrond is based on Proof of Stake. Thus, this token can be staked (it pays users who have blocked a certain amount of EGLDs). This token has experienced a good momentum in recent months and has accumulated 80,000 users and 1.2 million transactions in only 140 days of existence. The proposed solutions and the network effect place this crypto money in an interesting dynamic. At the beginning of September 2020, its price was nearly $18, compared to $120 in February 2021.

About the author

Leave a Comment