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It is no longer news that Cryptocurrencies have become widely popular over the last couple of years. More so, the concept of this phenomenon is getting to be a sought-after knowledge. This is why investors and other individuals are eager to be let into it.
The fuss about it also points to the fact that there is a need to inform people on coins to be wary of and those to watch.
For this reason, we had a sit-down with Ryan Hoggan recently, and we discussed at length all about Altcoins. Specifically, he gave a few tips to investors on which of the altcoins investors need to watch out for.
Ethereum (ETH)
Ethereum is one major coin on the list of alternative coins that Ryan Hoggan believes investors should watch. This coin which was launched in 2015, is currently ranked as the second-largest cryptocurrency. Ethereum follows right after Bitcoin, although there is a significant margin between them.
As of the beginning of 2021, ethereum’s market cap was almost 20% of Bitcoin’s size. Ryan Hoggan states that Eth currently has a market capitalisation of $138.3 billion and each token is worth about $1,218.59.
As of now, there are plans to make Eth run on less energy. If this is coupled with an efficient speed of transaction, it will make it more secure and would increase in value.
Also, since the introduction of non-fungible tokens (NFTs) on the Ethereum blockchain, many people have been wondering if they will increase Ethereum’s value over time. The demand for these assets will likely drive their prices up over time.
Still, it is unclear what effect this will have on Ethereum’s price, as numerous factors are involved. But as NFT quest continues, the value of Ethereum would continue to rise.
Litecoin (LTC)
Popularly referred to as “Silver to Bitcoin’s gold”, Ryan Hoggan believes this is another altcoin to watch. Litecoin has an efficient block generation rate and, in turn, tends to confirm transaction time which is quite fast.
Ranking as the sixth-largest digital currency in the world, Litecoin’s market capitalisation as of January 2021 was $10.1 billion. With a token value of about $153.88, this makes Ryan believe it is an altcoin to watch out for.
This digital currency was created through a unique and rigorous process. Thus, this prompts Ryan Hoggan to believe Cardano to be prominent among other large digital currencies.
This altcoin has had about a 100% increase in the August alone, and it is believed to even scale higher this September.
Polkadot (DOT)
Polkadot is a one of its kind digital currency. Its sole objective is to deliver connected operability amongst all other digital assets. With a larger Blockchain built, Ryan Hoggan thinks it would be more secure and resistant to attacks. At the beginning of the year, this coin had a market capitalisation of about $11.2 billion and a single token had a value of $12.54.
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