Cryptocurrency tokens that lower the market capitalization ranking made significant profits throughout 2021, including Cardano (ADA-USD), KuCoin and Ripple (XRP-USD).
Cryptocurrency tokens with low market capitalization have much more room for manipulation, and investors can expect greater profits than offering higher market capitalization. Ethereum (ETH-USD) and Bitcoin (BTC-USD). However, tokens with a low market capitalization have higher volatility than cryptocurrencies at the top of the ranking. Many lesser-known crypto tokens, such as Cardano, KuCoin, and Ripple, worked well in 2021.
Cardano started trading this year for $ 0.15 (£ 0.1) and is currently selling for $ 1.34. Coins are ranked 7th in the cryptocurrency ranking by market capitalization. That year, rival blockchain project Solana (SOL-USD) jumped over Cardano to fifth place. From January 2021 to the present, the value of Cardano has increased nearly 10 times. Cryptocurrencies reached a record high of $ 3.10 on September 2.
read more: Live crypto price
The blockchain platform is still going through its rigorous development roadmap. Inspired by developer Charles Hoskinson, it was created in 2015 and the testnet phase began in 2017. From the “Shelley” era of development to the current “Goguen” era, it is now possible to deploy smart contracts on the blockchain. Overall, Cardano must go through five eras of development before it can become a completely self-sustaining system. This is still the third era.
The last two eras, Byron and Sherry, focused primarily on infrastructure building and decentralization. However, this does not prevent investors from buying a native token called ADA, whose value has increased by 940% in 2021.
However, Cardano’s continued success from 2022 to 2023 is questionable. This project will be excluded by eToro from January 1, 2021 for US customers. The trading platform cited regulatory concerns as the reason for their actions.
read more: Does the Bitcoin chart foresee an imminent crash in 2022?
Another successful project in 2021 is the KCS Offering, a native token of the KuCoin Centralized Cryptocurrency Exchange. Kucoin is associated with the blockchain Kucoin Community Chain (KCC) as well as Binance. Like Binance Smart Chain (BSC), KCC is a clone of the Ethereum network and is not considered fully decentralized. However, the Kucoin token, KCS, has significantly increased in value throughout 2021.
Watch: How crypto lobbyists “dictate terms in Washington”
The current price of KCS tokens is $ 21.44, starting at a low of $ 0.70 this year. This is in line with the growing popularity of the KuCoin exchange. The KuCoin exchange has become a popular trading place for blockchain projects for institutional investors such as the Kadena cryptocurrency.
The Ripple Cryptocurrency Project is also on track in 2021. It is identified as a global payment network that utilizes the XRP Consensus Ledger. The company claims that the XRP consensus ledger is faster, cheaper, and more environmentally friendly than the proof-of-work-based consensus mechanism for closing transactions. Ripple tokens have been active since 2012 and go through List XRP. The price of XRP has risen from $ 0.43 in January 2021 to $ 0.99 today. Over the last 7 days, the value of Ripple has increased by 20%.
Ripple Labs has recovered from fallout after two key executives were sued by the US Securities and Exchange Commission (SEC) in 2020. In late December 2020, the SEC charged Ripple and two executives with a $ 1.3 billion sale. “Providing unregistered and ongoing digital asset securities”. The SEC reported that the sale of XRP tokens by Ripple executives is to raise funds to fund the company’s business. Ripple is currently ranked 6th in cryptocurrency market capitalization. In 2022, tokens could exceed the all-time high of $ 3.84 achieved in August 2021.
read more: Cryptographic fraudsters steal about $ 8 billion from investors in 2021
Ripple Labs, the development arm of the Ripple project, has made progress throughout 2021 by developing the Ripple Marketplace for financial companies to enable clients to trade cryptocurrencies securely. Ripple avoids being associated with more chaotic aspects of cryptocurrencies, such as decentralization and demediation of banking systems. Instead, Ripple is close to several major banks, investment companies, and major financial institutions around the world.
Watch: The transition of big finance to cryptocurrencies is unstoppable
