The cryptocurrency boom in 2017 is often compared to the dotcom bubble that took place at the end of ‘90s and ended at the turn of the 21st century. Indeed, there are many similarities between these two phenomena.
In both cases, the new technology industry quickly took over the minds of numerous investors with the promises of incredible profits. In both cases, dozens and even hundreds of new startups were popping up like mushrooms every month. And in both cases the bubble burst quickly and painfully, burying most of those startups that didn’t have enough capacity to stay afloat.
However, a few of them survived, and now, those who invested in Apple and Microsoft sit on really huge money bags. It may be hard to find the future “apples” in a pile of pure shitcoins and scam projects (CoinMarketCap totals 2,000+ altcoins and most of them will be dead till the end of this crypto winter), but we will try to do our best.
Here’s our pick of top 3 crypto projects that have very good chances to live through the current downtrend and reach unbelievable heights in the future.
Oh, well, thank you, Captain Obvious.
Bitcoin has suffered serious losses since its surge in December 2017. Its current price makes up less than 20% of its all-time-high indices and many financial experts have been long talking about its death.
Yes, it has many flaws. It’s slow, transactions are pricey and it’s not suited for developing decentralized applications. In fact, Bitcoin has been buried more than 300 times by different media. But yet, here it stands, very much alive, though not as healthy as it was in 2017.
The market dominance is the key to BTC’s everlasting success. None of the other cryptocurrencies has ever beaten Bitcoin on this ground. Ethereum’s capitalization in its best days made up only 60% with respect to Bitcoin (133 billion vs 227 billion USD on January 14th, 2018). Bitcoin dominance equaled some 33% at that time, which was still the biggest portion of the market.
The tides come and go, but Bitcoin remains and only gets stronger. This is why you can purchase it at any time and be sure that it will pay off.
We have already made a detailed review of EOS in another article.
In a nutshell, this is a platform for developing decentralized apps. It is similar to Ethereum but comes with some unarguable benefits such as:
- Incredible capacity. The highest registered TPS on EOS equals to 6,200+ (Ethereum struggles at 19).
- No transaction fees. This is the first blockchain that allows exchanging value absolutely for free.
- Accounts. Forget about unreadable abracadabra that is used as a wallet address on Ethereum or Bitcoin. With EOS, you can create a personalized account with a memorable name and share it with anyone willing to send you some coins.
Currently, EOS is one of the 3 leading platforms utilized for dApps development. It is already many steps ahead of Ethereum, and its only real competitor in this field is TRON. Also, it is the most active blockchain according to Blocktivity.info as more than 70% of all operations are executed exactly on EOS.
Those who saw the potential in Ethereum purchased it for 10 USD in 2016 and had the nerve to hold it till its peak in January 2018, are now very rich. EOS has all the chances to repeat this pattern.
TRON is one more project aiming to provide developers with an environment for dApps’ creation and the second biggest platform by the number of users according to Dappradar statistics.
Its indices are way better than what Ethereum can offer, though not yet as high as with EOS. It can process 2,000 transactions per second and the transaction fees are close to zero.
Moreover, TRON has recently purchased BitTorrent and conducted a successful ICO for the platform’s development. The project will be monetized via the blockchain with its own token BTT that will be easily converted to TRX.
BitTorrent has been around since 2004 and has a multi-million user base. Unlike most of the other blockchains that are building their community from scratch, TRON has got access to the big and hot audience. It is not only going to survive but would also soar to incredible heights once the project goes live.
Check the top 40 cryptocurrencies that were the leaders of CoinMarketCap during the previous bull run in December 2013. How many of these names do you recognize? Less than 5 have kept their positions and lived to see the next huge uptrend in 2017.
Most likely, the same fate awaits most of the cryptos that were running the show in 2017 and are holding the top positions at the moment.
But those projects having a strong technology behind them, vigorously developing their products and having a broad community of followers, are here to stay for a long while. Keep your eyes open for such projects and make the right choice.
P.S. Note that this is not financial advice. Make your own research before investing into any cryptocurrency.