Since starting 2021, new investors are joining crypto market increasingly. A question, which pops up here is that which cryptocurrencies are the best to invest in except Bitcoin? In this article we are going to answer the question that what are the best altcoins to invest in?
In order to answer to this question, the best choice is to use fundamental analysis. In fact, fundamental analysis gives us better understanding from altcoins market in order to identify which one will grow more in this new year. To cover all the possible choices, we will explain the potential options in post series.
2020 was a brilliant year for Cardano. From early 2020 to early 2021 Cardano token named ADA surged for 440%. The highest price growth of Cardano happened since the second half of the 2020. In fact, it was the result of launching “Shelly” phase, which is the second phase of total five phases of Cardano’s blockchain. The third phase of Cardano will be launched in the first four months of 2021. It is expected launching of third phase will have the same impact as “Shelly” phase and will increase ADA price. Generally, “Goguen” phase will make Cardano platform be able to implement smart contracts and dApps on it. Certainly, Cardano blockchain transformation from just be a simple payment system to a platform, which supports smart contracts with high scalability potentials could be a start point of joining large companies to this ecosystem.
Best Altcoins To Invest In; ChainLink
ChainLink surged for 400% in 2020. However, many still expect further growth for this strong financial application. There are two main reasons for this growth. The first reason is the growth of DeFi protocols, which will result in ChainLink price surge. The second reason is the increase in using decentralized exchanges such as UniSwap, which require an oracle system in order to receive price data from the market. The truth is that ChainLink is pioneer in this field. In addition, investors sentiments are focused to LINK growth. Actually, it was the result of a poll, which conducted by Peterson, a famous analyst. From 2,700 participants, 44% chose LINK rather than Bitcoin as the best investment option.