Bitcoin has laid the foundations in recent years, but more and more altcoins are emerging, providing investors with the opportunity to outperform the market. In addition, some of these cryptocurrencies have decided to take off as the altcoin season approaches. With that in mind, let’s take a closer look at this issue and find out which is the best altcoin to consider next month.
Altcoin is defined as a cryptocurrency that is not Bitcoin. Ethereum is the most well-known cryptocurrency on the market, but several platforms, especially Cardano and Ripple, began challenging ETH hegemony last year. Altcoin is often associated with blockchain systems that seek to expand the territory of cryptocurrencies and their possible uses. As a result, some cryptocurrencies offer exposure to interesting breakthroughs like web3.0 and NFTs.
Starting at the height of the Christmas season, there is the altcoin season, which is characterized as a time when altcoin soars in the crypto market and offers better returns than Bitcoin. Due to multiple variables such as liquidity changes and new trends, this time tends to correlate with the end of the year and the beginning of the following year. The Altcoin season is just a component of a natural market cycle in which assets change throughout the year.
There are five options to consider.
Top 5 Christmas Altcoins
HUH token (HUH)
The HUH token is a new token released on Monday 6th. Currently, there are more than 9,000 holders, an increase of more than 6000% in the five days since their debut. This upward trend shows no signs of calming down. As a result of our own smart contract referral system, it seems to be working very well. This works by issuing the code to the owner of the HUH token via the website. This code shares 10% of the initial purchase with the code supplier when used for the first time by another new owner. This 10 percent is given by BNB, but there seems to be plans to collect it in many other cryptocurrencies as well.
HUH Token aims to develop a strong community centered on social influence and status while providing value. Their white paper contains plans for social media platforms that want to find literal value in sentiment analysis.
Ethereum (ETH)
According to CoinMarketCap, Ethereum is the world’s second largest cryptocurrency (after Bitcoin) with a market value of $ 474.2 billion. Ethereum is, most basically, an open source blockchain technology that allows users to build smart contracts. As a result, Ethereum has expanded the platform ecosystem by hiring developers to build DeFi apps and NFTs. In 2022, Ethereum will upgrade its network to “Ethereum 2.0”. This is expected to dramatically improve the scalability of the platform.
Ripple (XRP)
Ripple is a payment platform that seeks to improve existing means of transferring transactions over the SWIFT network. With the company’s RippleNet network, financial institutions have the potential to move funds faster and cheaper than ever before. Ripple’s native cryptocurrency, XRP, is an important component of the network and acts as an intermediate exchange mechanism between two or more parties. Ripple has increased by more than 280% this year and is expected to grow further in the coming years.
Solana (SOL)
Solana is a Proof of Stake (PoS) blockchain aimed at making it significantly more scalable than currently available. According to sources, Solana can handle over 50,000 operations per second. This is well above Ethereum’s 15. In addition, Solana’s block finality period is as short as 400ms, which is appealing to decentralized application authors.
Due to its scalability, Solana seems certain to grow further in 2022 as programmers seek to build more complex software that requires faster technology.
Cardano (ADA)
Finally, Cardano, like Ethereum 2.0, is an open source blockchain technology that currently employs a proof of stake consensus approach. Cardano uses this method to eliminate the need for mining, which is essential for proof-of-work protocols such as BTC and ETH. Therefore, Cardano is a “more environmentally friendly” alternative to these networks, and when combined with Cardano’s smart contract capabilities, it will increase confidence in this platform during the altcoin season.
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