By - Anuj
- Alternative digital coins have created their presence in the crypto space.
- Altcoins hold as much as 30 per cent of dominance in the crypto industry.
- One-third of the cryptocurrency market is made of decentralized finance (DeFi) projects.
Evergreen alternative digital coins (Altcoins) have created their presence in the crypto space. Altcoins hold as much as 30 per cent of dominance in the crypto industry, while Bitcoin and Ethereum dominate 46 per cent and 20 per cent of the decentralized market, respectively. Stablecoins, on the other hand, have four per cent dominance in the cryptocurrency industry.
One-third of the cryptocurrency market is made of decentralized finance (DeFi) projects. These DeFi firms have played a vital role in enabling mainstream investors to interact and engage with the crypto market.
Let’s explore some of the top evergreen altcoins in the crypto market.
Developer created a lighter version of Bitcoin, Litecoin, in 2011 to enable miners to mint tokens at a faster rate. The token seeks to replicate gold bearer catalysts.
The native token, LTC, is presently trading at US$ 165 apiece. It recorded over 10 per cent surge on August 10, 2021, with a 24-hour volume of nearly US$ 3.24 billion.
LTC is up 33 per cent year-to-date (YTD). Its all-time high is around US$ 414 per token.
It has a market cap of US$ 11.28 billion and holds the 13th rank among 11,200 cryptos. It has a supply of 68.27 million tokens, as compared to its capped circulation of 84 million LTCs.
This decentralized application (Dapp) platform enables blockchain developers to write smart contracts. Its native token is ADA, which is up 717 per cent this year.
The Dapp service provider works on the ‘proof of stake’ model. ADA is listed on Binance smart-chain, and is trading at US$ 1.48 apiece.
It has a current market cap of US$ 48 billion and ranks on the fifth spot on CoinMarketCap. It has a total supply of 32.37 billion tokens, as compared to its limited supply of 45 billion ADAs.
Ripple Labs released its utility token XRP in 2011 for transferring remittance without going through multiple intermediaries. The crypto token is trading at US$ 0.8219 apiece, with a market cap of more than US$ 82 billion. XRP ranks at the sixth position among all existing cryptocurrencies.
It has a dominance of over two per cent in the crypto market and has grown by 269 per cent YTD. It has a total circulation of 99.99 billion XRP coins.
The market players consider XRP just next to Bitcoin and Ether because of its utility in the payment segment.
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Dogecoin came into existence in late 2013, and it was launched as a meme coin to take on crypto investors. But after a few years, it got traction from meme-frenzied investors that have pumped it by over 100 times in the last one year.
Its native crypto is Doge, with a Shiba Inu symbol. Now, crypto miners have also started minting Doge tokens on a large scale.
The meme token is now worth US$ 33.53 billion. It has an unlimited coin supply. Currently, Dogecoin has a total circulation of around 130.65 billion tokens at US$ 0.2570 apiece. It has soared over 5,358 per cent YTD.
TRON claims to be the fastest blockchain-based payment service. The decentralized network can execute 2,000 transactions per second, whereas Bitcoin allows six transactions per second and Ethereum can make around 25 transactions per second. It has a circulating supply of 71.66 billion TRX tokens.
TRON’s token commenced trading in September 2017 at US$ 0.001427. It has soared by multiple folds to US$ 0.07422 apiece and has gained 177 per cent YTD. With a market cap of US$ 5.26 billion, it ranks at 26th position among cryptos.
Dash (DASH) crypto was introduced in 2014 as an alternative to Bitcoin (BTC) payment. Dash provides fast and secure digital transactions, and its name is inspired by the term ‘digital cash’. Its current value stands at US$ 175.48 apiece.
The crypto payment network has a market cap of US$ 1.8 billion, with a circulating supply of 10.27 million DASH tokens. The electronic currency has swelled over 74 per cent in 2021 and outperformed Bitcoin, which is up 58 per cent YTD.
The decentralized network uses its Tangle technology to generate nodes. There are no IOTA miners as it does not work through a blockchain network. IOTA enables payments between Internet of Things (IoT) devices.
Its native crypto is MIOTA, which is trading at US$ 0.9228 apiece. It got listed on crypto exchanges in 2017. The token has grown over 210 per cent this year, with a market cap of US$ 2.57 billion. It ranks among the top 50 crypto tokens.
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Stellar offers an open-sourced payment platform at considerably reasonable charges. Its utility crypto token is XLM, which has gained 140 per cent YTD. It has a total supply of 105.44 billion XLM tokens at US$ 0.3048 apiece.
It has a market capitalization of US$ 32.15 billion and is placed at the 20th spot among listed cryptocurrencies.
The crypto network is planning to acquire the global transaction firm MoneyGram. If it closes its transaction with MoneyGram, it could hit its lifetime high of US$ 0.8755 per unit by the end of this year.
The decentralized network enables nodes to connect with external sources. Its interchain technology allows smart-contract writers, financial auditors, and researchers to execute their operations. Its native crypto is LINK.
Founded in 2017, the crypto token has soared over 14,178 per cent listing-to-date. It is currently trading at US$ 24.23 apiece, with a market cap of US$ 10.68 billion. The 15th-ranked cryptocurrency has 115 per cent YTD.
Quant is a decentralized operating system that offers services to fintech companies. It is also known as the Overledger platform that helps users to connect on multiple blockchains. Its native token is QNT, which is trading at US$ 151 apiece.
QNT is up 1,245 YTD, with a market cap of US$ 1.82 billion. It has a current supply of 12.07 million QNT tokens against its limited supply of nearly 14.61 million coins. It ranks among to top 60 altcoins.