- Cryptocurrencies enjoyed a great 2020, setting up 2021 for even more growth
- In the first week of January, the industry topped a market cap of $1 trillion for the first time in its history
- What crypto projects are worth looking at in 2021?
Crypto projects spectacularly opened the year, with many projects tearing up all previously set highs. While Bitcoin may constantly steal the headlines, there are hundreds of great crypto projects that are more than worth your attention.
For those thinking about an investment, a recurring question is; which projects have the best chance of success? In no particular order, here are the top 10 crypto projects you should keep an eye on in 2021.
1. Polkadot (DOT)
Starting the list is one of the most talked-about digital assets in recent times. Polkadot recently unseated Ripple, to claim the spot as the 4th largest cryptocurrency. In August 2020, the altcoin sat well below the top ten largest cryptos.
Polkadot has been touted to be the “Ethereum Killer”. Polkadot was created to build a completely decentralized web where users are in control. Polkadot operates on a multi-chain which has several ‘parachains.’
The Polkadot software allows the coders and programmers to create new chains and applications relatively quickly, without needing to use smart contracts like in Ethereum.
This is where the hype behind Polkadot lies. Before Ethereum finalizes its Layer 2 solution, Polkadot could be the go-to for developers looking for a decentralized ecosystem.
2. Tezos (XTZ)
This is one of the few crypto projects that launched on its own blockchain. It is similar to the Ethereum blockchain as it offers smart contracts. However, the major aim of the project is to evolve above the errors of the Bitcoin and Ethereum blockchains.
Delphi, the new upgrade of the project has cut the smart contract gas fee by 75 percent to attract DeFi developers to the ecosystem.
Tezos completed a $121 million partnership project with Logical Pictures, one of the first tokenization initiatives in the movie industry. The prospects of Tezos in 2021 is very high, the project ranks as the 22 largest crypto and trades at $2.5.
3. Synthetix (SNX)
Synthetix has in the past shown much promise, growing from $0.03 to over $14 in the last 2 years. Synthetix is used for issuing synthetic assets in the DeFi ecosystem. It currently ranks as one of the biggest DeFi projects.
Synthetix is also one of the first DeFi projects to upgrade to the Layer 2 (L2) scaling solutions of Ethereum. The bigger the DeFi ecosystem gets in 2021, the bigger Synthetix is expected to grow.
4. Filecoin (FIL)
First announced in 2017, the crypto space had three years to anticipate the launch of this project. Filecoin launched in October 2020 with its $200 million ICO. The project offers a decentralized file storage platform with incentives for mining.
In addition to being more secured than centralized cloud storage platforms, people are also offered the opportunity to make money. The project is already ranked as the 33rd largest and has a promising roadmap billed to capture a large percentage of the cloud storage industry.
5. NOW Token (NOW)
The potential of NOW Token lies in its mother project. ChangeNOW is one of the most simplistic crypto exchanges on the market.
The NOW token is more versatile than most exchange issued-tokens being an ERC-20 standard token and a Binance Chain BEP-2 standard token at the same time. NOW can also be used as a staking instrument.
A project which started as Ethereum based but moved to its blockchain. On its network, VeChain has built a supply chain management. VeChain focuses largely on the Internet of Things where it seeks to increase the efficiency, user control, and transparency of shipping procedures.
VeChain recently announced a partnership with KnowSeaFood to help farmers communicate directly with consumers, who can pinpoint the exact origin of the seafood they buy.
Another VeChain-based app, E-HCert has been used by the Mediterranean Hospital in Cyprus to certify Coronavirus vaccines. In 2021, there is every indication that the VeChainThor blockchain would receive more use cases.
On the Flipside
- While Ripple is yet to settle its disputes with the Securities and Exchange Commission, the crypto project has been slammed another lawsuit in the United Kingdom
- The UK Investment Firm, Tetragon Financial Group, has filed another lawsuit to block Ripple from leveraging liquid assets.
- Even worse, the co-founder of Ripple, McCaleb reportedly sold 28.6 million XRP — roughly $8.5 million. Could Ripple be over?
7. Uniswap (UNI)
This is one of the competitors for the most promising crypto exchange in 2021. The combination of crypto exchange platforms would give you a decentralized exchange – and Uniswap is the leader of this category.
The DeFi ecosystem closed 2020 with over 1 million users, with over $1.47 billion locked in the sector. There are many indications that DeFi will continue to grow in 2021, meaning Uniswap is billed to grow even more.
8. Chainlink (LINK)
Chainlink exploded after the launch of the DeFi market sector. Chainlink is creating an incentivized global network of computers that will provide reliable, real-world data to smart contracts running on top of blockchains.
Although there are many projects in this category, Chainlink seats miles above them. Chainlink is currently the 9th largest crypto with a market cap of $7.9 billion which is expected to grow further as the DeFi ecosystem grows in 2021.
9. Basic Attention Token (BAT)
BAT is rather unique crypto designed for content writers, web developers, PR and marketing people, and some IT sector professionals. Although the BAT was said to reach its peak in 2018, the project still has a lot to offer in 2021.
The project has gradually grown to become one of the most highly-rated affiliate programs in the history of cryptocurrency. The point is simple – you get paid for watching ads on the platform
The list would not be complete without the pioneer cryptocurrency. Being the first, the most popular, and the largest cryptocurrency, major price rallies begin and end with Bitcoin.
Although Bitcoin has enjoyed some of the most growth in the crypto market, the full potential of the leading cryptocurrency is yet to be reached. This was evident in the latest market rally which saw Bitcoin more than double its value over 30 days.
Disclaimer: this should not be considered investment advice but an expert analysis based on the future projection of these assets. Due to the volatile nature of the crypto market, all investments should be based on in-depth research and professional advice.