The cryptocurrency market has expanded tremendously ever since the introduction of Bitcoin, leading to the emergence and acceptance of altcoins and enabling people to invest in speculative assets without the high price tag of the ruling cryptocurrency.
In general opinion, altcoins are broadly defined as any other cryptocurrency besides Bitcoin or Ethereum. However, opposing arguments suggest otherwise, as most of these assets stem from one of them. For example, XRP20 is an altcoin with a significant position in the cryptocurrency market and is developed on the Ethereum blockchain. Despite the association, the assets’ value fluctuates independently of the price of Ethereum, with factors like investor sentiment and market demand standing at the core of its inconstancy.
These days, the spotlight in the altcoin realm is focused on five newly added altcoins that have recently broken into the market. While most well-established altcoins grapple with market fluctuations, some projects stand out, attracting more investor interest and experiencing surging demand. Let’s discover the five altcoins that are drawing traders’ attention at the moment.
Shiba Inu-Barbie
In the abundant world of cryptocurrency, only a handful of altcoins have succeeded in gathering as much attention as Shiba Inu has. Intended to pay tribute to the notorious Dogecoin, it quickly rose to fame thanks to its inventive branding. To further put smiles on traders’ and investors’ faces and inject some optimism through playfulness into the tech industry, the project came with the humoristic idea of creating a Barbie-inspired token. The blockbuster title has gained widespread success rapidly, and it was only a matter of time until some humorous developers would take advantage of the trend and come up with a mind-bending piece of work. As such, this Web3 gem aims to be more than just a meme coin with passing popularity. It stands out as a community movement set to disrupt the conventional norms of crypto trading.
The token is created around the deflationary concept, as seen by its white paper. It is capped at 10 billion tokens, and no more coins will be mined after reaching this limit. 60% of the supply is dedicated to the ongoing sale, whereas a fifth goes to DEX liquidity.
The presale is ending soon, but until then, anyone interested in the asset can invest in it after weighing their risk tolerance level.
Chimpzee
The increasing concern for the environment and the collective efforts to make a positive change have also extended their influence into the crypto space. Chimpzee is an example of a project that made environmentalism a core principle of its operation, advocating for animals’ rights and taking a stance against climate change and deforestation.
The native token in the ecosystem, $CHMPZ, provides great potential for returns. So far, it has already gathered more than $990K. Being a charity-focused project, it was only natural to make a contribution to the world. With every token transaction, Chimpzee donates a fraction to nonprofits such as those advocating for animal welfare. For instance, it contributed to saving animals and planting trees in Guatemala and collaborated with notable charities like One Tree Planted. The stance ensures that its aspirations of creating a better animal environment are one step closer to being achieved.
Chimpzee encompasses a wide range of ventures to enable users to gain tokens, including a trade-to-earn NFT marketplace, a play-to-earn game, or a shop-to-earn store.
XRP20
As already mentioned, XRP20 is an example of a token derived from the Ethereum blockchain. It’s intended to employ some additional advantages compared to the native token of Ethereum, such as being more user-friendly, taking decentralization to a new level, and providing the altcoin’s owners passive rewards through a Stage-to-Earn system. Besides overtaking Ethereum in terms of functionality, it is also recognized as better, more affordable, and quicker than Bitcoin.
The token is still in its presale, being presented at a considerably lower price than XRP. While it has received criticism for unjust sales, the project maintains a community-centric stance and allocates portions of tokens for staking rewards, burning, community presale, and DEX liquidity.
It has a deflationary model enabled by a buy-and-burn system that maintains scarcity over time. Like Bitcoin, it increases the chances of high valuation when no more blocks are left to mine in case demand grows.
IOTA20
Continuing with another Ethereum-based project and the whole “2.0” trend, Iota20 is another example of a popular asset that checks these two aspects and gains a lot of attention. As the name suggests, iota is a blockchain that facilitates IOT (the Internet of Things). It grew significantly in 2017, hitting a whopping $15 billion market cap, before losing ground due to issues like insufficient security and high complexity, as well as competition from its parent network and others.
To maintain the core principles and build a lasting project, a developer team created the white paper for IOTA20 on Ethereum, introducing user-friendliness, transparency, safety and decentralization to the list of additions.
Currently, any interested party can introduce the asset in any Ethereum wallet and manage it across other decentralized applications.
yPredict
AI has been the talk of the town at tech-focused discussions, so it’s no wonder that the tendency to extend it to cryptocurrency assets materialized. Taking advantage of the AI power, the newly-welcomed coin yPredict provides a range of tools to improve the environment for SEO solutions, crypto analytics, and other parties interested in its offerings. Another core proposition of the project is to help financial market traders make better-informed decisions.
yPredict has already gathered $3 million at presale and expects even more money to be poured into the asset as the buzz continues. After a successful launch, the team behind the project revealed the service to the general public.
Interestingly, those who were quick to invest in the asset may be given full access to use several tools created by the team.
Wrapping up
Unskilled and seasoned traders alike are looking for presale projects and small-cap coins that may explode sometime in the future. The five altcoin examples above are some of the projects in presale and developmental stages with smaller market capitalization likely to see exponential growth in the future. Has any of these options gained your attention so far?
