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Why is it worthy to invest not only in bitcoin. 13 alternatives.
In 2020, investing in BTC brought its holders several times less profit than buying altcoins. Some of them have risen in price by thousands of percent. Analysts told which cryptocurrencies remain undervalued and retain great potential for price growth
In 2020, Bitcoin remains a symbol of the cryptocurrency market, but it is not a leader in terms of profitability. BTC has risen 46% since January, significantly weaker than most other coins. For example, Ethereum added 170% of its value over the same period. The key reason for this growth was the expectation of updating the ETH blockchain to the second version, which will introduce the possibility of passively increasing the number of coins by staking.
Since the beginning of the year, the Binance exchange token (BNB) has also shown significant growth — 100%. One of the drivers of the coin’s rise in price was its entry into the decentralized finance (DeFi) market. The trading platform also provided customers with the opportunity to make deposits in cryptocurrency in order to receive rewards in other coins. At the moment, the annual profitability from the use of this product reached 1200%, but later the rate dropped significantly.
The largest growth in 2020 was shown by assets related to the DeFi sector directly. For example, the Chainlink token rate has grown by 450% since January, to $10, in August, rising to $20. A similar dynamic was demonstrated by the BAND coin. Over the same period, its rate rose by 2900%, from $0.22 to $6.6, briefly reaching $17.6. Both projects provide oracles — products that allow you to track cryptocurrency rates with decentralized applications.
The growth of thousands of percent was shown by the tokens of DeFi sites. The leader in terms of profitability in this area is the token of the Yearn Finance platform (YFI). It was released on July 18 and was trading at $ 32 at the time. Now the asset is worth almost 100,000% more, $32,400, and in mid-September the price peaked at $44,000.
There is a “whole palette” of tools in which you can invest instead of bitcoin, the founder of the stable cryptocurrency platform STASIS Grigory Klumov is sure. As an example, he cited the NEO token, on the blockchain of which its own DeFi platform will soon be launched. Another option is YFI coin. Both assets have an average degree of risk, the investor should take into account that their price can fall by up to 50%.
Klumov named Balancer (BAL), Synthetix (SNX), REN (REN), Curve (CRV) and Aave (LEND) from the high-risk, but interesting from the point of view of investing, DeFi tokens. Their rate is quite volatile, but in September it corrected and now has good prospects.
In exchange for bitcoin with medium-term goals, you can invest in altcoins that are in the top cryptocurrency rating by capitalization, says Dmitry Lavrov, trader and founder of Tradunity. Fluctuations in their price will depend on bitcoin, if it enters the growth phase again, altoins will also rise in price and bring even greater profitability.
“Ethereum is the first altcoin to be added to an investment portfolio. The coin has corrected its past upward movement and is poised for a return to 2020 highs and possibly a refresh. The coin looks strong in terms of technical and fundamental analysis. Also of interest are Binance Coin, EOS, they are at acceptable levels for opening long positions”, Lavrov shared.
On the horizon of the next year, representatives of the TOP-30 of the crypto market are interesting altcoins for investment, said Viktor Pershikov, a leading analyst at 8848 Invest. For example, Ethereum. The transition to version 2.0 and the development of the Proof-of-Stake protocol will allow the price to rise significantly. Also, the driver of its growth may be the development of the DeFi sector, related to which applications are mainly built on the basis of ETH.
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CRV price is up 14.0% in the last 24 hours. It has a circulating supply of 110 Million coins and a max supply of 1.36 Billion coins. Binance is the current most active market trading it. In order to explore addresses and transactions, you may use block explorers such as etherscan.io. CRV / Bitcoin (BINANCE:CRVBTC) TheCryptoBull69 BINANCE:CRVBTC CRV / Bitcoin. Trend Analysis Chart Patterns. 101 views. 0. 0. trendanalysis chartpattern. I think we are going for uptrend keep an eye on this altcoin and be carfuel with bitcoin while youre take position guys GL. Comments . Post Comment. Products. Chart Pine Script Stock Screener Forex Screener Crypto Screener Economic Calendar ... Get live charts for CRVUSDT price, volume, open interest, spread, basis, funding rate, and historical stats on Binance (Futures) perpetual derivatives exchange. 🔥 Out Now 🔥 We've just published the CoinGecko Q3 2020 Crypto Report! Yield farming, the NFT trend and so much more 🔎 EN . Language. English Deutsch Español Français Italiano język polski Limba română Magyar nyelv ... Binance cryptocurrency exchange - We operate the worlds biggest bitcoin exchange and altcoin crypto exchange in the world by volume Curve is an exchange liquidity pool on Ethereum that is designed for efficient stablecoin trading.; CRV is the native utility token in the Curve platform, and is used for voting in platform governance, and as a reward for liquidity providers. A portion of the trading fees collected is used to conduct constant CRV token burns.; Since Curve only trades stablecoins, liquidity providers experience ... Real-Time Binance CRV/BTC CRV to Bitcoin Market Charts.
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