This article highlights seven cryptos that are likely to rise over the next year. This is based on my analysis of what is going on with their blockchain platforms and other developments in their platforms. In most cases, these cryptos are easy to buy and are all available on Coinbase Global (NASDAQ: COIN ) or Binance US .
The fact remains that cryptos have outperformed stocks this year. For example, year-to-date, as of Oct. 26, the S&P 500 index is up 22.0%, according to Yahoo! Finance and the GSPC index fund . But the top five cryptos, in terms of market cap, are up much more than that.
For example, Bitcoin (CCC: BTC-USD ) is up 111%, Ethereum (CCC: ETH-USD ) is up 470%, Binance Coin (CCC: BNB-USD ) is up 11.74 times, Cardano (CCC: ADA-USD ) is up 11.3 times, and Solana (CCC: SOL-USD ) is up 105 times.
So you can clearly see that it is no match. The problem is this is looking backward. We want to find the best seven cryptos that will do well next year. Will the legacies above continue to carry the torch, or will new altcoins pick up the slack?
Let’s dive in and look at these cryptos: Bitcoin
Ethereum
Cardan0
Solana
Avalanche (CCC: AVAX-USD )
Top Rated Cryptos: Bitcoin (BTC-USD)
Source: kitti Suwanekkasit / Shutterstock.com Market Cap: $1,170 billion
Bitcoin is by far the largest cryptocurrency in the world with a market cap of well over $1.17 trillion, according to Coinmarketcap . This is still lower than the largest stock in the world, Apple (NASDAQ: AAPL ) which has a $2.477 trillion market value, according to Yahoo! Finance .
But in the last year to Oct. 26, Apple stock has risen 30% from $114.01 to $149.92. In contrast, Bitcoin has jumped 375% from $13,075 per BTC token to $62,085, as of Oct. 22. That alone should tell you where the momentum is between these two asset classes: the largest stock vs. the largest crypto.
For example, if Bitcoin doubles in the next year and Apple rises the same as last year, Bitcoin will have a $2.34 trillion market value and Apple will be at $3.21 trillion. But if this occurs again in 2023, Bitcoin will have caught up, having a $4.68 trillion market cap and Apple’s will be just $4.18 trillion.
In other words, in two years, it is very possible that Bitcoin could be the largest single asset in the world, and a digital one at that. This assumes that the world begins to put a huge value on digital decentralized assets.
Given its track record so far, and given the fact that there is a limited supply of BTC tokens, this is very possible. In case this happens, investors might want to switch at least a part of their investment in Apple into Bitcoin. Ethereum (ETH-USD)
Source: Filippo Ronca Cavalcanti / Shutterstock.com Market Cap: $490.9 billion
Standard Chartered Bank recently wrote a report on Ethereum indicating it could be worth between $26,000 and $35,000 . For it to get there, the analyst said that Bitcoin would have to trade at $175,000 per BTC token. As I have shown above, this is not out of the realm of possibility, especially given its performance.
In fact, Ethereum has significantly outperformed Bitcoin in the last year. On Oct. 22 last year it was at $393.89. As of Oct. 26, 2021, it was at 4,186.18, over times that prior number.Ethereum has already made several changes this year that make its blockchain platform more attractive to long-term investors. One change is the implementation of EIP 1559 , which I have written about earlier.This started the process of lowering the number of ETH tokens out, thereby deleting a certain amount in each transaction. This will give it a deflationary supply, that could help push Ethereum higher. Once the change to a proof-of-stake validation system occurs, it could also make Ethereum more popular with institutional investors.Ethereum now controls the bulk of new smart contracts such as Defi (decentralized finance) and other Dapps (decentralized apps) such as NFTs (non-fungible tokens) . However, one big problem with Ethereum is its huge transaction costs and its slow transactions speeds. This has spurred the development of alternative cryptos, such as Cardano, Solano, Algorand and Avalanche. Top Rated Cryptos: Cardano (ADA-USD) Market Cap: $71.6 billionCardano is one of the big four cryptos with its huge $71 billion market cap. Moreover, in the last year, ADA crypto has risen nearly 20 times from 10.31 cents on […]
source 7 Cryptos That Are Likely to Be Top-Performing Cryptocurrencies Over the Next Year
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