The crypto space is very large and is occupied by a plethora of different currencies with several uses. There are currently about a whopping 16,000 digital currencies in operation in the crypto space and the battle for relevance is becoming tougher day by day, and those who cannot stand the competition will probably fizzle out. These three cryptocurrencies show great potential with a high competitive advantage, which could lead to their exponential growth by 1,000% or even more by the year 2026…
This cryptocurrency boasts a $27 billion market value and is currently ranked as the 11th largest cryptocurrency. Avalanche is a smart contract operated blockchain that has significant advantages, such as fast network speed, high scalability, and compatibility. Its network speed is so impressive that each block can be completed in less than 2 seconds, the same transaction that takes Ethereum 6 minutes and Bitcoin an entire 60 minutes to perform. The Avalanche blockchain can process 4,500 transactions per second; this is a far cry from Bitcoin’s 7 TPS and Ethereum’s 13 TPS. This feature helps to drastically reduce transaction fees on the Avalanche blockchain. Avalanche additionally offers a juicy package of Ethereum Virtual Machine software to decentralized application (dApp) developers. EVM is the software that helps developers create dApps on the Ethereum network. Avalanche now runs this software on its blockchain alongside faster speed, reduced costs, scalability and fast processing as compared to Ethereum. At this rate, the sky is the starting point for Avalanche.
Currently holding down crypto’s 19th largest position and a market value of nearly $10.5 billion, ALGO is a good buy for patient investors. The competitive advantage this cryptocurrency has includes its security, fast speed and interoperability. Algorand’s network performs 1,162 transactions per second and a block finality of about 4.36 seconds. Another unique feature of ALGO is its consensus mechanism. It operates a Pure Proof-of-Stake protocol; here, holders are randomly selected to propose blocks and vote on existing proposals. Algorand’s interoperability feature seeks to bridge technological gaps that exist or may arise because of the inability of many blockchains to work together.
The next cryptocurrency with amazing potential is Axle Infinity (AXS). AXS currently holds the 31st position in the crypto market with a market capitalization of $5.8 billion. Axle Infinity is a game built on the Ethereum blockchain where users get paid for playing. The game is a simple one in which the users are to create and breed a minimum of unique battle characters called Axies. Each Axie is a Non-fungible token that can be sold and bought. In a 180-day period, the protocol dApp revenue generated by Axle Infinity was $1.23 billion, coming second only after Ethereum, according to TokenTerminal.
These coins have so much potential, and we can’t wait to see their growth in the coming years