Cryptocurrency restarted its bull run again after a small consolidation period of May-June 2021 to August-September 2021, retail traders showing lots of interest in it. Investors, traders and even the non-traders acknowledging the tech behind cryptocurrencies, blockchain technology, and decentralized finance (Defi). Coins like Bitcoin, Ethereum, Solana, Algorand, Polka Dot, Shiba Inu have given immense returns in third quarter quarter of the year 2021. This article lists the top 7 cryptocurrencies to invest in in October 2021.
#1 - Bitcoin (BTC)
Bitcoin has been around for the longest of any cryptocurrency. It’s easy to see why it’s the leader, with a price, market cap, and volume that’s much higher than any other investment option. Even with thousands of other cryptocurrencies on the market, Bitcoin still represents over 43% of the cryptocurrency market cap. Many businesses already accept Bitcoin as payment, which makes this cryptocurrency a smart investment. Visa, for example, transacts with Bitcoin.
#2 - Ethereum (ETH)
Ethereum is different from Bitcoin because it isn’t only a cryptocurrency. It’s also a network that allows developers to create their cryptocurrency utilizing the Ethereum network. After Bitcoin, it is the second-largest cryptocurrency in terms of market capitalization. Vitalik Buterin, a programmer, proposed Ethereum in 2013. The network went live on July 30, 2015, with an initial supply of 72 million coins, after being crowdfunded in 2014. Ethereum is used for decentralized finance, the production and exchange of non-fungible tokens (NFTs), and many Initial Coin Offerings (ICOs)
#3 Shiba Inu
Shiba Inu (SHIB) is a meme token which began as a fun currency and has now transformed into a decentralized ecosystem. During the initial launch, 50% of the supply was allocated into Vitalik Buterin's ethereum wallet. The price of SHIB has soared from as low as $0.000000000056 to an all time high of $0.0000379, that is a 140,000 times increase within 8 months.
#4 Solana
Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland. The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain. Because of the innovative hybrid consensus model, Solana enjoys interest from small-time traders and institutional traders alike. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.
#5 Polkadot (DOT)
Polkadot is a one-of-a-kind proof-of-stake cryptocurrency that aims to provide blockchain interoperability. Its protocol links permissioned and permissionless blockchains, as well as oracles, allowing systems to interact under one roof. Polkadot was created by Gavin Wood, Thiel Fellow Robert Habermeier, and Peter Czaban. Gavin Wood is a co-founder of the Ethereum Project and was previously the Chief Technology Officer. Via the Polkadot relay chain, Polkadot enables an internet where independent blockchain can share information and transactions in a trustless manner. Polkadot aims to make creating and connecting decentralized apps, utilities, and organizations easier.
#6 Algorand (ALGO)
Algorand is a self-sustaining, decentralized, blockchain-based network that supports a wide range of applications. These systems are secure, scalable and efficient, all critical properties for effective applications in the real world. Algorand will support computations that require reliable performance guarantees to create new forms of trust. The Algorand mainnet became live in June 2019, and was able to handle almost 1 million transactions per day as of December 2020. Algorand transaction metrics can be viewed here. Algorand initial coin offering (ICO) was held in June 2019, with the Algorand price of $2.4 per token.
#7 Cardano (ADA)
The Cardano network has a smaller footprint, which is appealing to investors for several reasons. It takes less energy to complete a transaction with Cardano than with a larger network like Bitcoin. This means transactions are faster and cheaper. It claims to be more adaptable and more secure. Cardano consistently improves its development to stay ahead of hackers.
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