Cryptocurrencies

For the past couple of years, broadly followed cryptocurrencies have overtaken the wider market many times over. A growing number of cryptocurrency exchanges are listing SHIB tokens for trade, which is increasing awareness and building up the community.

The launch of decentralized exchange ShibaSwap in July allows investors to stake their tokens and more importantly encourages them to hold SHIB for a longer period. However, other cryptocurrencies can surely compete with Shiba INU and this article lists the same. 

Ethereum(ETH)

Market Cap: US$556,599,728,115

Ethereum was the first cryptocurrency to introduce smart contracts that allow developers to create desktop and mobile decentralized applications powered by blockchain technology. Ethereum has maintained its position in the top cryptocurrencies list ever since and has a loyal team of investors who vouch for it. This means Ethereum has a better chance of remaining stable after Bitcoins.

Stellar (XLM)

Market Cap: US$9,392,116,043

Stellar is an open network that allows money to be moved and stored. When it was released in July 2014, one of its goals was boosting financial inclusion by reaching the world’s unbanked but soon afterward, its priorities shifted to helping financial firms connect through blockchain technology. The network’s native token, lumens, serves as a bridge that makes it less expensive to trade assets across borders. 

Solana (SOL)

Market Cap: US$73,720,992,642

Developed to power decentralized finance (Defi) uses, decentralized apps (DApps), and smart contracts, Solana runs on a unique hybrid proof-of-stake and proof-of-history mechanisms that help it process transactions quickly and securely. SOL, Solana’s native token, powers the platform. Launched in 2020, SOL’s price started at US$0.77. On October 29, 2021, its price was almost US$201.91, experiencing a gain of more than 26,000%.

Cardano(ADA)

Market Cap: US$68,349,576,756

This is an affordable cryptocurrency that is becoming a cult favorite at a rapid pace. Since its inception in 2015, it has become a strong player in the market with its Ouroboros blockchain, which means having two blockchains instead of one. Here, one blockchain will manage general ordinary transactions while the other will manage smart contracts. The logic behind this is the ability of Cardano to remain scalable and fast as two types of transactions will not slow it down. Another interesting fact about Cardano is that most of the people who have invested in this Cryptocurrencies are from Japan. Hence, Cardano is also known as the “Japanese Ethereum” because it uses the Proof of Stake algorithm which Ethereum has been planning to do for a long time now.

Dogecoin (DOGE)

Market Cap: US$34,870,163,222

The fact that Dogecoin still stands strong even after not being taken seriously is proof of its dominance. First, Redditors spiked the price to new heights in early 2021 as a way to prevent the speculated short-selling of Dogecoins by many Wall Street hedge funds. And then, Elon Musk called himself the “Dogefather” promoting this cryptocurrency further. While many argue the legitimacy of this coin, Dogecoin continues to have its share of market value.

XRP(XRP)

Market Cap: US$57,518,055,378

XRP was created by the founders of the digital payment processing company Ripple. It serves as a crypto PayPal of sorts, allowing exchanges between both crypto and fiat currencies. Ripple is investing heavily in non-fungible token projects that use XRP Ledger, which is a public blockchain. This investment suggests Ripple is positioning itself as another ‘Ethereum killer,’ according to Inside Bitcoins.