Bitcoin and Ethereum could be likened to the “Cola and Pepsi” of this cryptocurrency industry: The total capitalization of both of these assets is about $1 trillion, accounting for almost two-thirds of the total $1.6 trillion in value. Capitalization of the global cryptocurrency marketplace.
But like some people today would rather go for additional soft drinks, the crypto market is filled with choices to Bitcoin and Ethereum. According to study website CoinMarketCap, this amount can go up to over 10,000 and those coins are known as Altcoins.
Many of them Altcoins were created with the objective of being appropriate for a range of specific industries. They aren’t cryptocurrencies that started out as a joke such as dogecoin and its cousin Shiba Inu.
One of the crypto pairs which have performed very well this season are two tokens (just public cryptocurrencies) geared towards online content creators — Theta and Theta Fuel. Theta has increased by almost 400% since the start of 2021, while Theta Fuel’s growth is much more astonishing at 1,700%.
Both run on a Blockchain (block series ) called Theta Network (Theta Network), allowing users on personal computers (PCs) with unused bandwidth to discuss video streams with other people. online The reward. They can mine tokens from this activity.
Theta includes a sizable following from the electronic media, such as YouTube video-sharing platform co-founder Steve Chen and Twitch streaming platform co-founder Justin Kan. Both are advisers to Theta.
Meanwhile, a number of different altcoins are gaining more attention in the crypto investment community — and many investors say that this is only the start.
Greg King, founder and CEO of Osprey Funds, which invests in the industry, said it is now in the infancy of blockchain networks, with many more under construction. But not all of them want to imitate Bitcoin.
Mr. King said he’s focusing on two smaller coins: polkadot and algorand. This investor describes polkadot as a network of Blockchains that help connect various networks and move money between them.
Algorand, on the other hand, is a more eco-friendly “green” cryptocurrency than Bitcoin, which has been criticized because its miners use supercomputers that have a whole lot of energy. Algorand is distributed on a proof-of-stake foundation, just randomly picking cubes to distribute to users rather than rewarding miners with cubes. Therefore, the energy consumption of this altcoin is a lot lower than that of Bitcoin.
Mr. King suggested that investors should concentrate more on cryptocurrencies and tokens like the two above. They have a valid use and do not get caught up in the flurry of trades like dogecoin – that has surged over 6,000% this year thanks in large part to billionaire Elon Musk’s remarks although it was a joke.
This view is shared by Mr. Michael Sikorsky, President of Copia Wealth Studios. He stated his firm owns Ethereum and Bitcoin, but also holds a variety of other less popular altcoins such as Cardano and Polygon. These are just two cryptocurrencies which are rather like algorand in that they aren’t mined by power-hungry supercomputers.
But Mr. Sikorsky stressed that investors must accept these cryptocurrencies will be subject to volatility. Altcoins aren’t for the faint of heart, but they’re not going away anytime soon.
Charlie Silver, CEO of Permission.io, that has a token called ASK that targets e-commerce advertisers,” said cryptocurrency is turning into a true asset class.
But he warns that successful altcoins have to be functional. Altcoins only acting as a bet won’t benefit the sector as a whole. However, he believes that this will be the next major investment wave in the marketplace.
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According to Vietnambiz
Compiled by ToiYeuBitcoin
