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- 1 Altcoins have become the spot-on investment option for every crypto enthusiast.
- 2 With different functions and mechanisms, they bring new possibilities to the fore.
- 3 A wide range of Altcoins is gaining traction not just in the crypto sphere but also in various other industries.
Altcoin is an alternate coin. The crypto community forged this term to define all assets other than Bitcoin. Since BTC is the most high-priced crypto, acquiring it is not easy for most folks. Therefore, altcoins have become the next best thing for crypto users.
Alongside Bitcoin, these lateral assets gained huge traction from the markets. Their value kept getting higher and today, investors consider them as the most profitable investment option.
Every year, analysts share a list of altcoins that could generate great revenues. This year as well, the predictions are rife and crypto users are keen to know about assets that could reap profits.
Altcoins that would yield profits in August 2023
Redefining blockchain and maintaining successive prices, these altcoins are promising investments for token holders.
Ethereum
Ethereum is the second-most valuable digital asset after Bitcoin and the numero uno altcoin in many ways. Its total market capitalization is worth $223 Billion. Out of 20,000 crypto assets, 17% are in ETh. Also, it’s probably the most adaptable ecosystem that has spun off multiple token protocols. Backed by innovation and high adoption,
ETH is the most valuable altcoin today.
Litecoin
It is one of the early altcoins that comes with an improved blockchain. It expedites transaction speeds and does away with monopolistic ways as well. It has emerged as a store of value with plenty of options and scalable functionality. It also handles a large volume of supply without any malfunctions. Today, it is capped at 84 Million coins.
XRP
XRP is Ripple’s native coin that runs on an open-source, public blockchain. The developers created it to facilitate cheaper and faster payments. The protocol brings ease into transactions with a real-time gross settlement system. Today, its total market cap is $37 billion, and investors are hopeful about an elevation in the figure. Despite Ripple’s legal troubles, the coin is showing consistent progress on every front.
Dogecoin
For many people, Dogecoin is synonymous with meme coins. It does not run on a proof-of-work protocol, it rather works on a network that maintains the supply. Created as a joke by two software engineers, the token has immense support from the whole crypto community. It has emerged as a precious altcoin due to its high functionality and robust structure.
Cardano
Cardano adapted a proof-of-stake mechanism to solve many problems other coins were facing. It speeds up the transaction time and consumes less energy too. At the same time, it came up with a unique smart contract functionality. Running on a public blockchain, it facilitates peer-to-peer transactions while taking very less amount of time.
Conclusion
Altcoins put forth so many possibilities to investors. They have emerged as the prudent investment option for every crypto user. Adapting different protocols and delivering unique features, these assets prove their worth in many ways. They become one of the most valuable cryptos that pave the way for massive gains in the long as well as short term. Also, they give a chance to blockchain enthusiasts to embrace innovation on various fronts.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
