Man will not live by Bitcoin alone
It is no secret that Bitcoin’s dominance is slowly decreasing, making room for other altcoins to shine. Altcoins, if you are not sure what they mean, are the other cryptocurrencies launched after the success of Bitcoin and advertise themselves as the best alternatives, hence the word “alt” in altcoins.
In this article we will list 5 interesting altcoins that can represent great opportunities for the month of February. If you are looking for alternatives to Bitcoin, this article is for you.
1- Ethereum (ETH)
The most obvious altcoin to keep an eye on today is Ethereum, and this is due to several factors:
- It is currently the second largest crypto market capitalization
- There are rumors of a Flipenning in force
- Smart contracts add value
- Strong momentum for the current bullish trend with a target price of 2K in view
- We discussed in a previous article why Ethereum has a great opportunity and, a few days later, prices exceeded $ 1,600.
Current lowest price: US $ 1,627
Market capitalization rating: # 2
Fig.1 Weekly ETH / USD chart showing ETH reaching highs – TradingView.com
2- Uniswap (UNI)
Currency # 2 on the list is the native token for decentralized exchanges, Uniswap. Robinhood has been offering free advertising to decentralized exchanges globally. People are beginning to realize the benefits of such an exchange and, with Uniswap blocking more than $ 30 billion in January, it is about to have its best month ever. If you look at the current price chart in Figure 2, you will see that, after an extended price consolidation of around $ 2.5, the price of Uniswap skyrocketed to its current price of $ 20.5, gaining around 500 % in 1 month!
Current lowest price: US $ 20.34
Market capitalization rating: # 14
Fig.2 Daily UNI / USD chart showing Uniswap’s 500% price increase – TradingView.com
3- SushiSwap (SUSHI)
This currency is said to be consuming Uniswap’s market share. If you are optimistic about Uniswap, which is currently on your ATH, you should also consider your rival SushiSwap, as competition drives progress and innovation.
An recent MessariCrypto survey showed how profitable SushiSwap has been. In January 2021 alone, SUSHI participants raised $ 6 million in fees.
Current lowest price: US $ 15.74
Market capitalization rating: # 26
Fig.3 1-day SUSHI / USD chart showing the upward trend of SushiSwap – TradingView.com
4- Injective Protocol (INJ)
The Injective Protocol is a decentralized trading derivative open 24 hours a day, 7 days a week. Once again, amid Robinhood’s reaction, many decentralized exchanges have gained fame, and the Injective Protocol is one of those projects that has increased in price, all due to investors diverting their attention from traditional finance to the DeFi market.
The Injective Protocol launched its first decentralized “commission-free” Gamestop futures trading amid “Gamestop Fiasco”, And many have described this project as the Robinhood of the DeFi market.
Current lowest price: US $ 12.48
Market capitalization rating: # 109
Fig.4 Daily INJ / USD chart showing massive upward trend – TradingView.com
5- Cardano (ADA)
Cardano has great news in a few months, where they state that all blocks in the Cardano network would be produced by independent operators with equity interests, and the company behind Cardano will no longer participate in the production of blocks. This is good news, as this is what you would like to see in a truly decentralized blockchain network in the market.
As we are now in a bull market, it would be a good idea to keep an eye on Cardano now, before this news becomes reality.
Current lowest price: US $ 0.42
Market capitalization rating: # 6
Fig.5 Daily ADA / USD chart showing massive upward trend – TradingView.com