Aside from simple fun, play-to-earn options encourage continued usage, and each character is its own nonfungible token, or NFT, that can be leveled up through gameplay. The ecosystem is unique because it’s proven an incentive-based game can be built and successfully sustain itself on a decentralized network. Built on the Ethereum blockchain, Axie Infinity is a great example of the freewheeling creativity that can unfold on the blockchain these days.
It’s a player-owned game, with AXS acting as the voting mechanism. Enter Axie Infinity Shards, the governance token for a blockchain-based game reminiscent of Pokemon. Solana’s price is up about 100-fold in 2021 alone, roaring from $1.51 to more than $160.Īs the space evolves, the best cryptocurrencies to buy tend to become more and more obscure. Two other improvements SOL has over ETH: The network boasts both faster speeds and much lower transaction fees. Novelty isn’t always a plus, but it is with Solana: The Ethereum-like network has been quick to attract quality engineering talent due to the underlying Rust programming language that’s extremely easy to use. Like Ethereum, Solana has become a leader in DeFi, where users can create decentralized applications, or Dapps for short, that cut out traditional financial gatekeepers like exchanges, brokers, clearinghouses and banks themselves. Solana quickly burst onto the scene in 2021, rising from obscurity - SOL had a 0.01% market share to start the year - to become one of the top 10 cryptocurrencies by market cap by September. But only about a third of Bitcoin’s declining market share is attributable to ETH - the rest can largely be chalked up to some of the best cryptocurrencies to buy that follow. Today, the gap has dramatically narrowed, with BTC at 45.1% and ETH at 18%. At the beginning of 2021, Bitcoin accounted for 70.7% of the market, with Ethereum accounting for just 10.8%. Ethereum’s market share in the nascent and fast-growing field of decentralized finance, or DeFi, has the digital currency slowly chipping away at Bitcoin’s share of the overall crypto market. With trillions of dollars on corporate balance sheets still sitting idle in cash or cash equivalents, BTC’s penetration of corporate finance is still in the early innings.Īlthough Bitcoin has been the lead crypto from the get-go, Ethereum emerged as a force to be reckoned with in 2015 and is perhaps the only other token with any business being regarded as a blue-chip crypto. As the premier “blue chip” cryptocurrency, BTC is not only tried and true but is still setting new milestones: Tesla Inc.’s (ticker: TSLA) decision to put Bitcoin on its balance sheet and El Salvador’s move to make it a legal tender are two landmark 2021 actions illustrating how mainstream BTC has become. It’s tough to understate the importance of Bitcoin and the underlying concept of the blockchain that accompanied it, but 12 years later, Bitcoin’s first-mover advantage has compounded to put its market capitalization above $1 trillion. Keep in mind, this is a volatile asset class, so invest only with money you can lose.īitcoin’s invention in 2009 changed money forever and opened the door to all sorts of variations on and improvements of its technology. But not all cryptos are created equal: Here’s a look at seven of the best cryptocurrencies to buy in late 2021, and the bull case for each. It’s a lot to sift through, and, unlike stocks, digital currencies don’t lend themselves to fundamental analysis. A dozen years later, the crypto market is worth more than $2 trillion, with thousands of digital currencies and projects to choose from. The Bitcoin white paper, circa 2009, explains a peer-to-peer, decentralized, scarce electronic global currency that cuts out print-happy central banks and moral-hazard-ridden financial institutions and middlemen.
At its core, the crypto field is a place of capital “B” Big ideas.
There’s always something exciting happening in the cryptocurrencies space. In a fast-changing industry, these are seven of the best cryptos to invest in.
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