The cryptocurrency market has gone through a tough ride this year with an enduring price decline of all crypto assets. For Bitcoin, the decline from the all-time high of $20,000 around this time in 2017 got worse in November and has been around since then.
The market saw a brief period of recovery which didn’t last, followed by a worse dip to a year low of $3,200 for Bitcoin, the leading cryptocurrency. Another recovery has started in the last 24 hours and although it is slow, the recovery has been steady for the entire market.
There are however a few of the cryptocurrencies that should be watched closely because they have potentials to grow substantially, making them good as potential investment opportunities. We will discuss the top three in this article and why they should be followed.
Cardano (ADA) may seem like a common cryptocurrency at the moment but this cryptocurrency has a very bright future. Apart from just being a cryptocurrency, it is also a platform capable of being used for everyday transactions, by governments and financial institutions globally. The platform just recently launched Marlowe and Plutus, two smart contracting tools which will enable writing of smart contracts on the Cardano blockchain.
ADA also got added on Binance as a pair with USDT/ADA. Being the biggest cryptocurrency exchange, Binance has the potential to boost Cardano’s market. The platform has also just launched its Cardano 1.4 version which is also expected to facilitate the attainment of Cardano’s goal of becoming the world’s leader in the financial sector. Just yesterday, ADA price started showing an increase just prior to the launch of its 1.4 update.
With these things under its belt, Cardano ADA is on its way to becoming a more widely adopted cryptocurrency and becoming a top asset in the cryptocurrency industry.
EOS is another cryptocurrency with a lot of potentials. Like Cardano, the platform is designed for writing smart contracts and support of decentralized applications (Dapps). EOS smart contracts are kind of special because they remove the need for transaction fees and the platform processes millions of transactions per second.
The asset has been at the forefront of the market recovery in the last 24 hours, reaching up to 35% surge. This surge enabled the asset to beat Stellar (XLM) and the stablecoin Tether to take the 4th spot by market capitalization according to coinmarketcap.com.
According to expert analysis, EOS has a bright future in terms of price and scalability as a smart contract and dapps platform. Currently trading at $2.66, experts believe it could reach $143 in five years as enterprise level clients are expected to patronize the platform because of its “parallel execution” which allows multiple applications to be run at the same time.
With these characteristics of the platform which are capable of giving it such a boost as witnessed recently, EOS is on its way to becoming a great platform and currency and should be closely followed for an opportunity to invest.
XRP, the Ripple Lab native cryptocurrency is no stranger in the cryptocurrency industry. This cryptocurrency was the first to show that cryptocurrencies can actually overtake those ahead of them by market capitalization. It displaced ETH to secure its spot as the number 2 cryptocurrency. Since then, it has grown and is now ahead of Ethereum (ETH) by $4 billion.
XRP has also enjoyed quite a lot of adoption because of the payment services the Ripple platform provides which is second to none. xRapid, the product responsible for the success in the payment sector has also driven the adoption of the asset and with a growing market for cheap and timely payment solutions, XRP obviously has a bright future ahead although the price is nothing to write home about at the moment.
Experts believe XRP’s huge market capitalization is a potential for a huge rise and some see it becoming the top cryptocurrency in 2019 leading a bull run. The position of XRP and the predictions from seasoned professionals make this asset a worthy one to watch out or and possibly invest in.