2020 has been an eventful year for cryptocurrencies. Some have done extremely well, others have seen negative price action since the beginning of the year. Among those who do a good job, there are those who have a better chance of doing even better during the year.
In this article, based on the opinions and analysis of the experts; We will highlight the top 5 most important altcoins of the crypto currencies we mentioned. Considering that it is not viewed as financial advice and neither is an advice as an investment; It may be helpful to monitor these assets closely and research them personally and make your own decisions. Now let’s take a look at these altcoins.
Chainlink (LINK): Chainlink is a decentralized oracle network established solely for the purpose of connecting smart contracts with real world data. Its local token, LINK, is used to pay node operators that maintain the integrity of the network. As an ERC20 token, it works on the Ethereum blockchain and is currently one of the leading cryptocurrencies because more and more people continue to participate in DeFi tokens.
Many analysts cited it as one of the brightest future tokens. Among them was Crypto Emre from the local cryptocurrency community. A foreign analyst also said that LINK could surpass Bitcoin as the best cryptocurrency in the future. The same analyst predicted that LINK could rise to $ 32 by the end of 2020.
So far Chainlink is one of the best performing cryptocurrencies, rising from under $ 2 to about $ 20 at the beginning of the year in 2020. Although it has retreated significantly, there is growing confidence that it will soon rise again.
Horizen (ZEN): Horizen is another interesting cryptocurrency project built to ensure equity and fairness in the cryptocurrency and blockchain space by rewarding users for their contribution. It is also a Proof-of-Work project like Bitcoin, which means that tokens are mined in half every 4 years.
Horizen allows businesses and developers to securely and easily create projects on the fully distributed Horizen chain, offering complete privacy to users. Due to the growing need for distributed systems and privacy on the internet, the native token ZEN is expected to be more valuable in the future. It climbed above $ 60 before it collapsed earlier.
Although it’s now down slightly, Grayscale CEO Barry Silbert compares his current situation to when Bitcoin was $ 7. Hearing such a phrase from a cryptocurrency giant like Silbert means the asset is definitely worth watching.
Tezos (XTZ): Tezos is currently one of traders’ favorite cryptocurrencies. This is due to the recent price performance that may have been triggered by DeFi assets. As a project that acts as a platform for the establishment of DeFi projects, we can say that DeFi will grow as it continues to expand.
Before XTZ retreated like the rest of the market, it recently hit a new year’s high for 2020, but the optimism surrounding the cryptocurrency presence is also noticeable. You can think of this digital asset as one of the brightest future cryptocurrencies, both in the short and long term.
Ethereum (ETH): Ethereum is the “father” of DeFi in the field of cryptocurrency. All ERC-20 tokens are built on the blockchain, and more of them are created every day. Various changes have been observed in the Ethereum network due to the proliferation of DeFi tokens.
Currently, E thereum enthusiasts are of the opinion that the asset is worthless in its current form and will soon return to its all-time high price of $ 1,432. During the intense rise a few days ago, the asset crossed the $ 400 level and is expected to rise to $ 500 before the current retracement.
After that, there could be a retracement and optimistic investors see it as a major breakout point. Therefore, monitoring ETH may be beneficial in the coming months or even years.
Cardano (ADA): Cardano is another blockchain project focused on adding value to the world as ADA’s native token. While this project, like the others, continues to gain validity through value creation; This year it pulled back from some price levels. Its founder and CEO, Charles Hoskinson, by bringing in innovation and use cases not found in any other project for ADA; seems determined to make it the best cryptocurrency in the near future.
As Hoskinson’s dream comes true, it is very likely that the price of ADA will see a significant upward increase. For those “seeking financial gains”, this could be another option to watch out for. The great thing about ADA is that it is much cheaper than the other currencies mentioned above and gives almost anyone an opportunity to buy.