For the past few months, everyone has been talking about Bitcoin. However, soon after BTC has reached a new all-time high of over $58,000, the price dropped by almost 20%, and now the Bitcoin bull run seems to be losing some momentum. Because of that, many crypto investors are looking for promising, undervalued altcoins which can perform better than Bitcoin in the near future.
1. Ethereum (ETH)
Ethereum has been the most valuable and best performing altcoin almost for as long as cryptocurrencies exist. It is a very respected and time-tested project which simply keeps growing over time no matter what, and even though thousands of new coins are created every year, Ethereum always triumphs over the competition. And now that the massive update of the Ethereum network called Eth 2.0 is starting to be launched, ETH can become even more dominant.
2. Cardano (ADA)
Cardano was definitely one of the best performing assets of the past few months. The growth displayed by ADA was amazing, which was summed up when Cardano became the third largest cryptocurrency by market capitalization. Not only is Cardano a digital asset with strong technologic fundamentals, it also has many real life applications. Since ranking in the top 3 gave ADA a ton of free publicity, Cardano is expected to grow at an even faster rate in the upcoming months.
3. Stellar Lumens (XLM)
Stellar Lumens might become a very valuable altcoin soon due to massive problems troubling Ripple (XRP), which used to be one of the most popular cryptocurrencies. The founders of Ripple were recently charged by the United States government with selling unregistered securities worth almost $1.5 billion. The company is now in giant trouble, and it’s quite likely that XLM will replace XRP and take its market share.
4. Monero (XMR)
Monero is one of the most respected assets in the crypto ecosystem. XMR is a type of digital currency called “privacy coin”. In other words, it’s a cryptocurrency focused specifically on privacy and anonymity. While the transactions made with Bitcoin can be tracked (for example by the government or the IRS), transactions made with Monero are 100% untraceable. Because of that, the increasing regulations of Bitcoin by governments around the world will likely lead to a massive surge in the XMR popularity.
5. Chainlink (LINK)
Chainlink has been one of the best performing crypto assets in 2020, and it has greatly contributed to the massive popularity of DeFi (decentralized finance) solutions. The huge Bitcoin bull run made people forget about LINK for a second, but now that the BTC enthusiasm is cooling down and altcoins are becoming highly sought-after again, Chainlink is looking to regain its market position. Since it’s still one of the coins with the strongest technological fundamentals, it can erupt in price very soon.