Several cryptocurrencies have racked up huge losses in the recent crypto market crash in May. Yet, experts say that such volatility is normal for a speculative asset class like cryptocurrencies after enjoying an immense price appreciation in such a short time.
However, the crash hasn’t stopped the massive rally of most cryptocurrencies. Even amidst the market crash, several tokens continued their network development and upgrades. This has also gained the attention of numerous investors, making them the most explosive cryptocurrencies.
For instance, Ethereum had a price drop of almost 57%. But with several network upgrades and interest from institutional investors, it slowly rebounded up over 40% after the market crash. Here, we have compiled the top 5 explosive cryptocurrencies to consider after the crypto market crashed.
5 Explosive Cryptocurrencies to Consider
With all that in mind, we suggest you to keep a close eye on these five explosive cryptocurrencies in the coming year:
Cryptocurrencies to Buy for 2021: Ethereum (ETH)
Of course, the most obvious cryptocurrency to buy for 2021 is Ethereum. The open-sourced distributed blockchain platform streamlines smart contract scripting. Ethereum’s advanced blockchain network allows developers to build decentralized applications (dApps). The platform has thus opened several opportunities to a variety of new applications and functionalities.
The ETH token has numerous potential use cases. Ether, the native cryptocurrency, works as the fuel for running commands on the Ethereum network. It is also utilized by developers to build and run applications on the platform. Some experts predict that ETH has the potential to take over Bitcoin in the near future.
Ethereum token is an explosive cryptocurrency to consider after the market crashed because the team is making its mining process more energy-efficient. Ethereum 2.0, the updated version of the blockchain network, claims to use 99.5% less energy than its current process.
The updated version of the network could help in gaining a substantial competitive advantage, making it a valuable cryptocurrency. Further, even if cryptocurrencies are valued for their speculative trading potential, real tangible transactional utility is pivotal for its growth. Therefore, Ethereum’s blockchain technology is utilized for multiple purposes, giving the token a competitive advantage over Bitcoin.
Along with Ether tokens, its blockchain technology also hosts other applications like DeFi (decentralized Finance) and NFTs (non-fungible tokens). With ETH 2.0, the network will become faster and more scalable, making it useful for even more applications.
Additionally, with Ethereum’s unstoppable growth, investors are pumping money into related investment products like the Grayscale Ethereum trust. Therefore, the bustling activity on the ETH network and the impressive blockchain technology make it a digital asset worth considering even after the market crash.
Check Out: Why Ethereum Will Skyrocket
Cryptocurrencies to Buy for 2021: Ripple (XRP)
One of the best altcoin positioned for potentially huge gains in 2021 is Ripple.
Unlike other cryptocurrencies, Ripple XRP was designed with an ambitious goal. It was meant to be used worldwide for faster international transactions. As a result, ripple is now accepted by dozens of popular banks globally for cross-border transactions.
One reason why XRP is a powerful cryptocurrency is the company that backs up the token and its developments. The start-up is financed by different established investors and has the name of world popular companies like Google, a significant reason to consider XRP even after the crypto market crashed. Furthermore, with the recent increase in its price, several other companies are also planning to invest in this venture capital in the coming months, gaining investor trust.
Moreover, Ripple is also piloting a private version of its public, open-source XRP ledger for central bank-backed digital currency issuance. The team claimed that Ripple enables numerous transactions over seconds and can process more with network updates.
XRP could become a viable alternative for the payment network SWIFT, positioning itself as the chosen method for international money transfers. Its fast and relatively cheap transactional cost is one reason why several banks and financial institutions prefer using it.
Currently, Ripple enthusiasts are waiting for the result of the long-due SEC lawsuit. As per experts, if the outcome is favourable for XRP, the token would experience explosive growth in the coming years.
Read Also: 5 Reasons Why Ripple Could Double Your Money
Cryptocurrencies to Buy for 2021: Cardano (ADA)
One of the more interesting cryptocurrencies that could explode higher is Cardano
Cardano differs from other Proof-of-Stake blockchains as it is designed with a peer-reviewed scientific research approach. This method ensures that any changes made in the network are useful and scalable.
ADA employs a new layered architecture to enhance security, scalability, and sustainability. This unique architecture helps Cardano to rectify the inefficiencies and create more use cases. Yet another reason that makes ADA an explosive cryptocurrency is its strict cap of 45 billion coins. With more use cases, the demand for ADA increases, and the scarcity will drive the price to new heights.
Cardano’s sustainable nature pulls it through the market crash. Its Proof-of-Stake mechanism makes it far more computationally efficient and environmentally friendly. As the sustainable nature of cryptocurrencies has come to dominate the discussions in the crypto space, the green coin has drawn particular interest from all verticals.
Additionally, Cardano is about to join the party with Ethereum and other DeFi applications. It will soon implement the highly-anticipated smart contract functionality, adding codes that enable automated, self-executing contracts. This would be a competitive edge for Cardano to Ethereum because of its advanced blockchain network.
Don't Miss: Will Cardano Make Me Rich in 10 Years?
Cryptocurrencies to Buy for 2021: Dogecoin (DOGE)
One of the hottest cryptocurrencies is Dogecoin.
Thanks to social media and other online platforms, Dogecoin is a popular name in the crypto space. Created as a meme cryptocurrency, Dogecoin has witnessed record growth resulting in investors taking the coin quite seriously. Moreover, it surpassed Bitcoin earlier this year as the most tweeted cryptocurrency of all time.
DOGE’s official website describes it as an open-sourced peer-to-peer digital currency that has several real-world use cases. It is used to tip content creators in the online world. Around 1300 businesses have come to accept DOGE since its inception, making it a valuable cryptocurrency to consider. Further, the token started gaining traction from billionaire investors and institutions.
In March, Dallas Mavericks started accepting DOGE as payment for tickets and merchandise. In addition, Kyle Seyboth, the Century 21 agent, said he had recently accepted an offer of 160,000 Dogecoin from a client to buy a plot of land in Rhode Island. Adding to this, the Geometric Energy Corporation is using DOGE to pay SpaceX, the Elon Musk-owned company, to launch a satellite to the moon.
Thanks to its vibrant online community on Reddit, Twitter, and other platforms, DOGE has become the most popular explosive cryptocurrency on the watchlist even after the crypto market crashed. In addition, a popular trading app among young investors named Robinhood has already started allowing users to buy Dogecoin, boosting its adoption rates.
Dogecoin has successfully developed a fanbase that boosted its price from less than a penny a few months ago to a record high of $0.7376 in May 2021.
Check Out: What Will Dogecoin Be Worth in 10 Years?
Cryptocurrencies to Buy for 2021: Chainlink (LINK)
Unlike other cryptocurrencies, Chainlink plays a significant role in enhancing the real-world implementation of blockchain technologies. It aims to solve this with the help of its breakthrough technology. LINK developed a platform for the blockchain oracles that acts as a bridge connecting on-chain and off-chain data.
Its decentralized oracle network provides tamper-proof inputs and outputs even for complex smart contracts on any blockchain. As the demand for decentralized products and services increases, LINK is undoubtedly an explosive cryptocurrency worth considering, especially after a market crash. It has successfully positioned itself as the go-to decentralized oracle network (DON) for efficiently and securely integrating real-world data into smart contracts.
Moreover, Chainlink 2.0 will allow developers to build off-chain networks on top of the oracles. This seamlessly handles some of the heavy liftings for executing the smart contracts making the process smooth.
Smart investors saw the recent market crash as the best opportunity to buy this explosive cryptocurrency. So most of them bought LINK while the prices were lower to reap huge returns once the market recovers. Chainlink has also partnered with large businesses like Google Cloud and SWIFT, asserting the predictions that it's worth considering, especially after the market crashed.
Read Also: Chainlink Trading Predictions
The recent market pullback, in a way, was a healthy correction for several cryptocurrencies, according to experts. It paved the way for numerous altcoins to begin a new bull cycle. Today investors are looking for the best explosive cryptocurrencies worth considering after the crypto market crashed to gain good returns. Thanks to their tremendous rally, rising interests, and continuous developments, the assets mentioned above are worth adding to your watchlist.
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Virtual currencies are highly volatile. Your capital is at risk.