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Summary
- Ethereum-based NFT launchpad project’s token may rise 10x in 2021-22.
- A mobile-based crypto coin could boom by the end of this year.
- A meme-inspired crypto has finally received some utility, which is likely to deliver triple digit return in one year.
The rise of altcoins along with Bitcoin is inevitable in the cryptocurrency market. Blockchain technology-led smart contract platforms have turned out to be multi-bagger in the first half of this year. From Monero (XMR) to Dogecoin (Doge), alternative cryptocurrencies have returned four-digit in the first half of 2021.
FinTech companies have been developing decentralized finance (DeFi) on multiple chains to execute their online retail and supply chain operations. Smart chain projects’ native tokens have been gaining traction on the back of this rising DeFi demand. Here are four potential cryptocurrencies that may explode in 2021-22:
1. Ethernity Chain (ERN)
Ethernity Chain operates in line with Ethereum’s decentralized network and allows users to buy and sell non-fungible tokens (NFTs) via its native token ERN. The DeFi chain offers traceability and transaction history of NFTs trading on its platform.
The ERN token was trading in green at US$ 6.73 apiece on Monday, July 12, and it was up seven per cent, as per CoinMarketCap’s website. However, it is down 91 per cent against its lifetime high of US$ 74 apiece. ERN ranks at 322nd position among based on its market cap of US$ 75 million, the website added.
The project has a capped maximum supply of 30 million tokens and more than 11 million ERN coins are currently in circulation.
2. Pi Network (PI)
Pi crypto is the most-awaited token that could hit the market by the end of this year. Analysts claim the eco-friendly mined cryptocurrency may grow at the pace of Bitcoin. The Pi team has also launched an ecosystem platform for developers who want to create Pi network applications.
Over 18 million miners and well-qualified core team members add to the project’s strength. The Pi token may start its trading journey at as low as US$ 0.000001, but the network claims that its unique use case as a mode of payment for goods and services can take it to new highs.
Source: Copyright © 2021 Kalkine Media
3. Chia Network (XCH)
Chia network, launched in August 2017, offers blockchain technology-powered advanced transaction services such as a decentralized payments systems.
XCH, Chia’s native coin, started trading in early May with an inflated price of around US$ 1,500 apiece and achieved its all-time of US$ 1934 by mid-May 2021. The token is currently trading on Huobi Global, Pionex, and OKEx at US$ 261 apiece. Its 24-hour volume (as on 6 am ET) is US$ 26.5 million and a fully diluted market cap is US$ 5.55 billion.
4. Shiba Inu (SHIB)
Shiba Inu, aka “Doge Killer”, launched anonymous crypto exchange ShibaSwap on July 6 this year. This is based on decentralized crypto swapping facility and analysts expect its native token to rocket this year, given the momentum in the market.
Tesla’s CEO Elon Musk reportedly supports ShibaSwap. The Tesla CEO tweeted about Shiba Inu in June this year and asked its developer to name it “Floki”. This development helped SHIB to gain over 15 per cent on June 25.
The token is already on crypto investors’ radar and can gain momentum through its decentralized crypto exchange. SHIB is placed at 31st spot on CoinMarketCap site and valued at over US$ 3 billion, with a 24-hour volume of US$ 312 million as of July 12.
