As the crypto market sets the bottom of 2022, investors and analysts are looking for altcoin projects that can recover the fastest. In this article, let’s look for an answer to this question from analyst Tommy Murphy’s list…
7 altcoins to follow for the coming months
- Ethereum has consistently ranked second after Bitcoin in recent years and the biggest and oldest Bitcoin alternative. There are currently 2,921 applications running actively on the network. Some experts point out that Ethereum’s technology is comparable to Bitcoin’s and estimate that its market cap surpasses that of Bitcoin.
- Ripple is a digital financial transaction network created to manage transactions between banks and other financial institutions. Compared to the Worldwide Association for Interbank Financial Telecommunication, XRP is considered a cheaper, faster and better alternative.
- Compared to other altcoins, Solana is a newcomer since it was developed in March 2020. Despite being a new cryptocurrency, it is currently the sixth most valuable crypto in the world with a market cap of 33,238. Additionally, it has several advantages over Ethereum such as cheaper and faster transaction verification.
- Polkadot was launched in 2020 by Gavin Wood, co-founder of Ethereum. It runs a mainnet with parachains, the Blockchain created by users. Although users can customize different Polkadot parachains for various purposes, the network only needs ample computing resources to run the main chain.
- Dogecoin was conceived and launched in 2013 as a parody of Bitcoin. Dogecoin’s meteoric rise was influenced by Tesla CEO and Dogecoin investor Elon Musk. Billionaire Mark Cuban also recommends Dogecoin as a Bitcoin alternative.
- Litecoin was created in 2011 by Charlie Lee, a former Google engineer who currently works for Coinbase Global. It was designed to be second only to Bitcoin and provides a faster block generation rate allowing for shorter transaction confirmation times.
- FTX Token is a global cryptocurrency exchange. As of February 14, the price of FTT has appreciated more than 100% year-over-year, compared to a 62% gain for Ethereum and a 12% loss for Bitcoin.