In its 13 year existence, there’s been a lot of speculation regarding the viability of digital currency. Although the futures of various cryptocurrencies are still not settled, some factors that are driving the growth of the industry are clear. The lure of making quick money has attracted many people especially in Generation Z. Aside from the top cryptocurrencies like Bitcoin, there is some lesser-known crypto to consider investing in:
1. Ethereum (ETH)
ETH is a decentralized software platform that uses blockchain technology. It is commonly referred to as Ethereum or ETH. It is one of the most liquid assets due to the numerous trading platforms and online brokerages that have been established. Developers can use ETH to create secure digital technology. Its token can be used within the blockchain network or be used to pay for the work that’s being done on the platform. According to a report by crypto news outlet Coinpedia, if the same bullish trend that started in 2021 would continue, the price of ETH could end up at around $6,500. However, for now, the price of the cryptocurrency will not continue rising due to the overall market decline in 2022. There are a few platforms that provide trading services for cryptocurrencies, such as Coinbase, Bitstamp, Binance, and Kraken. These exchanges also support ETH.
2. Algorand (ALGO)
ALGO is a new type of proof-of-stake protocol that aims to secure transactions on the blockchain. Unlike other methods of validating cryptocurrencies, such as proof-of-work, proof-of-stake does not require a huge amount of computing power. It’s also more eco-friendly, making it a cheaper and faster way to verify transactions. One of the biggest issues that prevent the widespread adoption of cryptocurrencies is the scalability of transactions. With the help of ALGO, the blockchain will be able to handle transactions much faster. Experts have predicted the price of ALGO for the coming years. It’s believed that the cryptocurrency will be traded at around $3.06 to $3.60 by 2028. You can easily buy ALGO on various cryptocurrency exchanges such as Coinbase and Coinmama.
3. Shiba Inu (SHIB)
The goal of the SHIB token is to be an alternative to Dogecoin, which is a popular meme coin. It’s intentionally abundant, with a total supply of 1 quadrillion. The token’s ecosystem supports various projects, such as an art incubator and a decentralized exchange known as Shibaswap.
After analyzing the price movement of SHIB in the previous years, it’s believed that in 2023, its minimum value will be around $0.00001755 and its maximum value will be around $0.00002159. On average, the expected trading price for SHIB is around $0.00001805. SHIB could be worth the investment if you are willing to take the risk. When it comes to buying cryptocurrencies, various factors such as location and protocol are taken into account. If you’re a fan of SHIB, then you can easily buy it through Coinbase’s centralized exchange.
4. Aave (AAVE-USD)
The AAVE-USD token is a native cryptocurrency that is used and is a decentralized financial system that allows users to peer-to-peer lend and trade assets. The AAVE-USD token was first launched in November 2017 with a total of one billion coins sold. Almost all of the funds raised during the initial coin offering went to investors. The remaining 23% went to the project’s founders and other key individuals. AAVE-USD can be purchased on many of your favorite cryptocurrency exchanges such as Coinbase, eToro, and Binance.
5. Decentraland (MANA)
The MANA token is an Ethereum-based cryptocurrency that powers the virtual reality platform’s operations. It can be used to pay for various services and goods in the virtual world created by the project. Experts predict the price of MANA every year. For instance, they expect the value of the cryptocurrency to trade between $8.04 and $9.64 in 2028. The potential of the MANA platform to generate interest in blockchain-based cryptocurrencies is well known. This is because it is one of the oldest and most popular metaverses out there. MANA can be purchased on specialized exchanges such as Binance and eToro
