Why These Under-the-Radar Cryptocurrencies Are Skyrocketing Today

Learn why these three underrated cryptocurrencies would skyrocket in 2021 and beyond.

Last Updated September 6th 2021

7 Min Read

Apart from the two major cryptos like Bitcoin and Ethereum, multiple other underrated cryptocurrencies have risen to significant heights in the 2021 bull run. Moreover, decentralized exchanges are an area where altcoins realized a lot of value this year. Let’s find out why these under-the-radar cryptocurrencies are skyrocketing today.

Other assets have overshadowed these cryptocurrencies for several reasons in the crypto market over the years. But with advanced technology, price rises, and developments, these altcoins are showing promises of generating good returns over the long run for investors.

1. Algorand (ALGO)

Algorand has been an under-the-radar cryptocurrency since its inception, but with continuous developments, the price of ALGO is on the rise today.

If you are looking for good return opportunities in underrated altcoins, Algorand could be the best choice. ALGO has been in the market since 2019. But the token was always overshadowed by cryptos like Ethereum and Cardano. However, the coin has been on a significant rally over the past few months, gaining the attention of investors and traders.

Algorand is a publicly accepted blockchain that strives to offer users decentralization and security. In addition, it aims to build a borderless community with its unregulated blockchain network. Accessibility, immediate process, direct usage, easy adoption, and efficiency are significant factors that make Algorand a potential cryptocurrency.

High scalability is a feature worth mentioning about Algorand. The blockchain guarantees that transactions are processed and completed instantly without branching. ALGO is a good buy now as the network has successfully resolved uncertainty and lack of transactional integrity, unlike its competitors.

One significant area of development for Algorand is decentralized finance or DeFi. The developers aim to use the blockchain for a range of digital and real-world assets, like escrow payments for mortgages or coin points in a game. Moreover, the rising fees on Ethereum blockchain led several developers to look to Algorand for developing applications, boosting ALGO's demand and value. This is because transaction fees are much lower in the network compared to Ethereum, and it is highly scalable.

A key reason why this under-the-radar cryptocurrency is skyrocketing today is the adoption of the Algorand blockchain by El Salvador. The country’s government has signed an agreement with a Latin American asset tokenization and blockchain financial infrastructure company, Koibanx, to build its blockchain infrastructure on top of the Algorand blockchain. The announcement has significantly skyrocketed the price and popularity of ALGO.

With new adoptions and use cases, ALGO is expected to rise significantly over the next few years, making it a good buy now.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

2. Kusama (KSM)

Kusama has been a vastly under-the-radar cryptocurrency for years, but its relevant updates and promising price rally make it a good buy now.

An investor who is new to the crypto industry might not even have heard about Kusama. The crypto is highly underrated, and its uses are often confined inside the Polkadot ecosystem. But Kusama is more than just an experimental coin within the Polkadot. With significant upgrades and developments, this under-the-radar cryptocurrency is climbing sky-high.

Kusama is a network of a specialized blockchain built using the same codebase as Polkadot. It was meant to be an upgrade of the network with a faster-running, risk-tanning canary network. The purported goal of KSM is to provide developers with a platform to set up and make the parachains into practical action. It also helped in experimenting with different governance tokens of Polkadot, like validation functionality, nomination, and staking.

Kusama is a unique cryptocurrency built for developers to launch projects. The network guarantees four core features for developers, innovation, scalability, interoperability, and customization. They can easily test and experiment with new features on Kusama before rolling them out on other networks.

The cryptocurrency is known for its multichain, heterogeneously sharded architecture. In addition, it employs a nominated Proof-of-Stake (NPoS) consensus method as an alternative to the energy-intensive Proof-of-Work (POW). This makes Kusama a good buy now since it is highly energy-efficient and sustainable compared to other cryptocurrencies. Further, it also has user-generated networks known as Parachains. They have multiple designs, functionalities, and use cases which vary depending on the project that employs them.

Even more, Kusama calls itself a canary network. Its position as Polkadot canary network gives it a first-mover advantage on many new dApps, making KSM one of the best altcoins to buy now. Multiple developments are happening in the Kusama network and parachains now, which is one reason why the price of KSM is skyrocketing today. ‘Statement’ was Kusama’s first featureful parachain. The community has recently voted to upgrade the Statement parachain’s runtime to make it more efficient. Additionally, Centrifuge is a leading project in the network. The DeFi protocol permits users to tokenize assets such as NFT and invoices and use them for borrowing or lending purposes.

If you want to buy KSM, this could be the best time as the price is lower, and the coin is enjoying a significant rally.

Check Out: 5 Small-Cap Cryptocurrencies With Growth Potential

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

3. Cosmos (ATOM)

Thanks to its new network developments, Cosmos, the highly undervalued altcoin in the market, is skyrocketing in price today.

Cosmos has been under the radar for quite a few years since its inception. This is because, unlike most other cryptocurrencies, Cosmos is not just about beating the competition or getting recognized on social media platforms. Instead, it aims to help the entire blockchain sector advance through its unique protocols that would help bring the industry together. This is one of the critical reasons ATOM is a potential cryptocurrency to buy now for future returns.

Cosmos describes itself as the “internet of blockchains,” It aims to be the hub for all blockchains. It has proved its efficiency as the best in the blockchain 3.0 era by tackling significant hurdles. It has likely solved the usability issue, the scalability issue, and the issue of governance. The protocol has also allowed users to take leverage of cross-chain bridges.

The native token of the Cosmos network, the ATOM, has significantly increased since the beginning of 2021. But the key reason why ATOM is one of the top under-the-radar cryptocurrencies that is skyrocketing today is the introduction of decentralized finance (DeFi) to its network. It is made possible through the Gravity DEX. It will also assist ATOM in widening its reach to new users, thereby increasing its adoption rate. Even more, the constant liquidity poured through ATOM could likely lead the coin to explode to new heights in the future.

Moreover, the recent introduction of Wrapped Bitcoin to the Cosmos network is another reason behind ATOM’s skyrocketing value. Wrapping a coin involves launching it on a more efficient network, like ERC-20 or BEP-2, while also ensuring its value to the underlying asset. With the introduction of WBTC on Cosmos, users can now use Bitcoin as a viable medium of exchange to interact with decentralized applications (dApps).

Since Cosmos has a Proof-of-Stake mechanism, ATOM holders can seamlessly stake their tokens to maintain the network and, in return, receive more ATOM as a reward. Further, the project has also recently partnered with DeFi oracle Band Protocol and provides the third-party developer access to numerous data feeds.

This is the best time to buy Cosmos since the price of ATOM would likely continue to skyrocket to new heights this year. It has more than 248 applications and services built on its platform, which culminated in over $70 billion in assets under management. In addition, several crypto analysts and experts believe that Cosmos is an excellent long-term investment option compared to other mainstream cryptocurrencies and DeFi coins due to its network efficiency and use cases.

Don't miss: Is Cosmos a Good Investment And Should I Invest in ATOM?

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

The Bottomline

Network developments, increased adoption, use cases, and continuous price rallies are a few of the many reasons why these under-the-radar cryptocurrencies are skyrocketing today. So if you are planning to invest for future return, these underrated cryptocurrencies are worth considering due to their future potential.

Having said that, digital assets are not a get-rich-quick scheme. Therefore it is always best to have detailed research and a long-term investing strategy before buying any cryptocurrency.