7 Red Hot Altcoins Burning Up the Market  

Highlights

• Kadena exploded in October after hovering under the one mark for much of the year.
• Samoyedcoin is a Solana-based memecoin inspired by a different dog breed and has developed a strong community despite being launched just about six months ago
• Ceek VR is one of a handful of specialised cryptos which has a virtual reality component built into its blockchain

The crypto market is continuing to thrive in the last two months of 2021. Bitcoin and Ethereum have reached new highs, and a list of altcoins have also achieved extraordinary growth in the month of October and November.

Here’s a list of seven red hot altcoins that have made outstanding gains recently.

Kadena (KDA)   Rank #49   30d: +954%

Kadena exploded in October after hovering under the one dollar mark for much of the year. The 49^th rank coin is somewhat of an outlier, being one of the few coins still operating off a proof-of-work protocol. However, this very protocol allows it to process just under half a million transactions per second.

This large transaction capacity and its low cost per transaction have served it well in the non fungible token (NFT) market, with the recent addition of NFT capabilities showcasing its ability to transact items high in demand while keeping fees low.

Kadena was valued at US$25.30 at the time of writing on 12 November 2021.

Loopring (LRC)   Rank #48     30d: + 716%

Loopring had a similar year where it coasted along below the one dollar mark, peaking at US$0.77 in May.

However, Loopring’s fortunes changed in November, with its value jumping from US$0.42 to US$3.37 in the past two weeks.

Loopring is a decentralised finance (DeFi) based project that builds infrastructure and products for the future of finance. Additionally, Loopring has high transaction speeds and its own wallet,

The new-found interest in Loopring is likely due to rumours that gaming company, GameStop, might use its blockchain for a series of NFTs.

Loopring is currently valued at US$3.02 at the time of writing on 12 November 2021.

Dogelon Mars (ELON)   Rank #110   30d: + 1022%

A number of meme coins are generating market buzz, but the most prominent and successful of these right now is Dogelon Mars.

Memecoins, as the name suggests, are cryptos based on internet memes. Dogelon Mars is another spinoff of the popular Dogecoin – based on the meme of the smiling Shiba Inu dog.

When Dogecoin took off earlier this year, thanks to the support of big-name celebs like Elon Musk, it inspired a number of spinoffs, including Shiba-Inu, Baby Doge and now Dogelon Mars (a nod to both Dogecoin and its biggest fan, Elon Musk).

Dogelon is currently valued at US$0.000001801 at the time of writing on 12 November 2021.

Ceek VR (CEEK)    Rank #161   30d: + 4910%

Ceek VR is one of a handful of specialised cryptos which has a virtual reality component built into its blockchain.

Mark Zuckerberg’s announcement of the Facebook metaverse has generated increased interest in a number of other metaverses, including Ceek VR. The metaverse is a term used to describe an online virtual space where users can build and interact.

Ceek VR’s metaverse specialises in connecting musicians and artists and creating a connection between the artist and the fan base.

Ceek VR’s price was around US$0.12 at the beginning of November.

It’s currently valued at approximately US$0.607 at the time of writing on 12 November 2021.

Samoyedcoin (SAMO)    Rank #248    30d: + 949%

With the popularity of memecoin’s going through the roof lately, the Solana network thought it’d be best to capitalise by releasing their own memecoin.

Samoyedcoin is inspired by a different dog breed called samoyed and has developed a strong community despite being launched just six months ago.

Samoyedcoin is currently valued at US$0.157 at the time of writing on 12 November 2021.

Decentraland (MANA)    Rank #39    30d: +303%

Decentraland is yet another virtual reality based crypto benefiting from the recent increased interest in the metaverse.

Decentraland’s metaverse provides an online space where users can build upon virtual land and participate in a decentralised marketplace.

Decentraland’s price is currently US$2.97 at the time of writing on 12 November 2021.

What Does This Tell Us?

The rising popularity of this tiny sample of altcoins is a good indicator of how the crypto market is changing the financial market as a whole.

More importantly, it says that there’s a new demand out there, which means there’s money to be made for crypto investors.