2017 was truly the year of cryptocurrencies given that almost all of them set new records that they are yet to cross again. Unfortunately, towards the end of the year, crypto assets began dipping due to unexplainable reasons. There are over ten suppositions trying to shine a light on what exactly led to the merciless bloodbath.
Crossing over to 2018, things haven’t changed very much. It’s still a goddamn bloodbath usually intertwined with a few days of green. Since change is mandatory, traders and HODLers are now scouting for coins with huge potential to invest in.
One of the most proven and reliable ways to pick a top performer is to analyze the trends. Without further ado, let’s have a look at some of the trending altcoins.
5 Altcoins That Are Trending Right Now
As a system that facilitates money transfer in any currency pair, Stellar has certainly won the hearts of many banks and fintech startups. Like Tron and Ripple, this cryptocurrency sprung from the bottom to become one of the top ten best altcoins in the crypto ecosystem.
Stellar first got the attention of media outlets when its market cap improved by 65% at the beginning of the year. As a stiff competitor to Ripple and a few other altcoins, the currency has also seen many people trying to explore it in order to understand how it compares with others in the field.
Currently, the cryptocurrency has been in the limelight mostly due to its collaboration with renowned companies like IBM, Deloitte, Firefox, Stripe and many more.
Ripple did stir up the web when it overtook Bitcoin Cash to become the third largest cryptocurrency by market cap. The cryptocurrency’s unique and in-demand purpose of facilitating faster and efficient payments has seen its bosses shake hands with many financial corporations.
In January 2018 alone, IDT, Mercury, and SBI holdings announced that they would be utilizing Ripple in their payment systems to facilitate, cheaper and secure cross-border payments. In February, other companies such as SAMA in Saudi Arabia also announced partnerships with the cryptocurrency.
Over the past couple of months, RippleNet has been adopted and tested in many places across the globe with an aim of making cross-border payments less strenuous. Ripple is not a new altcoin; it has been around from 2012 and during all that time, it’s been able to work with over 100 financial institutions.
Since making it to the top, Tron has received a fair amount of publicity from media and web writers. A few weeks ago, the currency had been pushed far behind but thanks to new milestones being activated in its roadmap, it’s looking agile again. To some extent, lack of exciting news about Dash and Monero could be giving Tron more room to shine out.
One of the reasons why this upcoming cryptocurrency is trending is due to the team’s tenacious efforts to make its fast blockchain even faster. Recently, they debugged their network to pave way for smooth running. This dedication to streamlining the blockchain has attracted potential investors making the altcoin one of the few top picks.
Even though it’s taking Tron a long time to overtake the dollar, its proponents strongly believe that as collaborations and adoption increase, the altcoin’s true potential will be unveiled. Just a couple of days ago, Bitguild-a gaming platform welcomed the currency onto its platform.
Ethereum is the only altcoin that experts believe can oust Bitcoin from its position. Since its inception, the currency has maintained a good fight by not sliding out of the top ten position. In terms of real-world uses, Ether is truly a winner. It’s currently the go-to platform for developers, programmers and individuals who are looking to utilize smart contracts.
Recently, there have been conversations happening over the net as to if Ethereum could possibly dethrone Bitcoin. Well, you shouldn’t act surprised considering Bitcoin just represents the gold standard while Ethereum, on the other hand, is an infrastructure upon which other technologies can be built upon.
Ethereum has a lot of influence right now and that may not stop any time soon. Some of the companies accepting it as a payment method include Overstock.com, torguard.net, Cryptopet.com, and many more.
IOTA is quite an intriguing cryptocurrency that slightly deviates from how other digital assets work. While most altcoins run on the blockchain, IOTA’s network is called Tangle and it’s Direct Acyclic Graph-powered. Tangle is distributed but block-less and allows resources to be transferred from one party to the other without parting with anything in fees.
The altcoin’s forecasted potential has seen it form alliances with a German tech company called Match X, City of Taipei (to secure machine transacting sensitive data), BOSCH, Fujitsu, Samsung and many more. At the time of this writing, one MIOTA (IOTA token) is going for around a dollar and some cents.
The Odd One Out – Bitcoin
Well, if you are wondering why Bitcoin hasn’t taken the top spot in this list-or included as one of the main entrants, then you’ll need to revisit the true definition of “altcoin.” Bitcoin is not an altcoin; it’s the mother of all cryptocurrencies (not literally, though). Any coin that was formed through forking or imitation of Bitcoin blockchain is what is known as an altcoin (alternative coin).
Bitcoin has always been trending-unfortunately for both good and bad reasons. When most digital assets are in the green, Bitcoin receives the praise; when it’s all red, it receives the short end of the stick as well. Nevertheless, the currency (albeit struggling with scaling and forking issues) is still regarded as the best and is accepted by many companies as a legit payment method.
The bottom line
Cryptocurrencies are still classified as highly volatile assets. If you are new to the game or are an old-hand looking for some potential-packed coins to invest in, try some of the top trending options listed here.