2021 is all set to become the best year for cryptocurrencies. Therefore, in this growing environment, it is best to look at three growth cryptocurrencies that have successfully placed themselves in the top 10 list.
Digital money continues gaining traction in the market as a highly opted long-term investment plan. With more than 7000 cryptocurrencies in the market, it is bursting with opportunities. Though Bitcoin initiated this market, other growth cryptocurrencies still have sufficient scope to expand in the crypto space.
Along with the growth of cryptocurrencies and their mass adoption, DeFi becoming the next big thing is also a positive development in the blockchain world.
So, in a growth environment, it's time to look at growth cryptocurrencies. Looking in on three cryptocurrencies that fit the bill. importantly, these cryptos also score a 'Top 10' smart score.
TOP 3 Growth Cryptocurrencies With More Room To Run:
#1 Ethereum (ETH)
Ethereum is the first and best alternative to Bitcoin, with a unique goal, unlike BTC. Ethereum's purported objective is to decentralize the internet, creating a single computer for the entire world. It aims to replace servers with a worldwide system of nodes.
According to Ethereum, it can be used to "codify, decentralize, secure and trade just about anything." Ethereum is the second-largest cryptocurrency after Bitcoin, with a market cap of $317 billion, as of writing. Ether, the native currency of Ethereum, currently sits at $2,736.
Till now, Ethereum had a spectacular rally in 2021. Initiating the year with $1088.8, ETH surged to an all-time high of $4,362 in May 2021. Thanks to its ambitious developers, Ethereum has a spew of upgrades and developments in place that makes it the top growth cryptocurrency with more room to run in 2021.
The ETH developers announced that the second stage of Ethereum upgrade ETH2.0 is going to be live soon. Along with enhancing the transaction speed, ETH 2.0 will make Ethereum more energy efficient.
The upcoming London hard fork will integrate EIP-1559, making gas prices (transaction fees) more manageable.
With all its technical and DeFi adoptions in place, Ethereum tops the list of growth cryptocurrencies with high growth potential and is a worthwhile option for investors.
Matthew Gould, the founder and CEO of Unstoppable Domains, said, "Expect Ethereum daily users to grow the fastest of any blockchain - including Bitcoin (BTC) - with all the new DeFi apps it brings to the table."
Read More: Is Ethereum a Good Buy?
#2 Cardano (ADA)
Designed with a unique research-based approach, Cardano is an Ouroboros Proof-of-Stake cryptocurrency. It has successfully beaten Ethereum to the Proof-of-Stake consensus mechanism and is among the top growth cryptocurrencies with more room to run.
Cardano is a third-generation cryptocurrency that was designed by integrating the hallmark features of both Bitcoin and Ethereum. Cardano initiated a tremendous rally in 2021, hitting an all-time high of $2.46 in May. It sits at $1.76 with a market cap of $56 billion as of writing.
Thanks to its past, present, and future upgrades, Cardano has successfully risen to become one of the top 10 cryptocurrencies in the world within a short span. The latest upgrade of the Cardano ecosystem, the Goguen update, is going to boost ADA's value and demand in the market this year.
With the integration of smart contracts, the Goguen update opens up several tangible opportunities for developers and businesses. It will add various functionalities to the chain and will initiate the multi-asset blockchain plan.
Additionally, the Cardano foundation released the Daedalus update on April 1, ushering in support for native tokens on the Cardano blockchain. This is a stepping stone for Cardano to become an entirely decentralized blockchain.
The Cointelegraph states, "We are delighted to report that the D=0 countdown, which signaled the full decentralization of the Cardano blockchain, has also been included in the latest implementation of Daedalus. This marks a momentous milestone where all of Cardano's stake pools are operated by community-led stake pool operators."
According to its roadmap, the awaited phase of the Goguen update that Cardano will implement shortly is the Alonzo update. It will bring smart contract functionality to the blockchain.
With its use cases and incoming updates, Cardano is a cryptocurrency with high growth potential and would be a significant addition to the investment portfolio.
Check Out: Should You Buy Cardano?
#3 Filecoin (FIL)
Filecoin is a unique project that aims to be the decentralized cloud service platform provider in the world. Thanks to its high institutional interest from China, Filecoin had a sudden rise to the top 10 cryptocurrencies in the world. Thus, Filecoin is one of the best growth cryptocurrencies with more room to run in the coming future.
Filecoin sits at $70.77 with a market cap of $5 billion as of writing. On March 17, FIL got another push with the institutional interest of Grayscale investments. It boosted FIL to an all-time high of $237.24 on April 1.
Filecoin has successfully replaced established centralized cloud storage services like Amazon AWS and Google Cloud with its cheap, faster, and highly secure network. A notable feature of FIL's tokenomics is its built-in mechanism. It acts as both a utility and governance token, where miners need to buy FIL tokens to mine more of the crypto.
Along with its rising institutional interest, IPFS has plans to build the largest Filecoin mining facility in China, to which it has deposited $1.3 billion. This partnership has also boosted FIL's value and price in the market tremendously.
The production cut scheduled on April 15 was yet another reason for the growing demand for Filecoin. It has a maximum supply of 2 billion coins, of which 65.3 are in circulation. A decrease in daily production will eventually lead to scarcity and will again sky-rocket the value of Filecoin.
Cameron Winklevoss, the co-founder of Gemini Exchange, tweeted about the rise and value of Filecoin, "The amount of network storage power, active miners, and Github contributors continue to grow on the Filecoin $FIL network. Not surprised to see price rocketing."
Don't Miss: Could Filecoin Be a Millionaire-Maker Coin?
Growth Cryptocurrencies: The Bottomline
The three growth cryptocurrencies mentioned above have more room to run in 2021 and beyond. With their institutional adoptions, upgrades, and developments, they have successfully placed themselves on the list of the perfect 10 cryptocurrencies in the world with high growth potential.
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