For those of you who are new to the world of cryptocurrencies, there are a few popular ones you should keep an eye on. These include ApeCoin, Ren, Algorand, and Cardano. Here’s what you need to know to get started with these cryptocurrencies. In addition to Bitcoin, these cryptocurrencies have similar characteristics to other digital assets and are worth looking into. Investing in these coins can lead to long-term profits.
ApeCoin
The price of ApeCoin has dropped substantially since the announcement was made by Yuga Labs in late March. While the crypto has been in the spotlight before, this time, it regained its footing after the Bored Ape Yacht Club attracted attention from investors. Billionaire Elon Musk, who is known for pumping digital assets, fueled an increase in the price of ApeCoin by changing his Twitter profile.
Ren
There are many reasons to be interested in the REN cryptocurrency. It has a zero-knowledge transaction layer, which ensures that REN tokens cannot be lost or stolen. The REN blockchain is secured with a layer of zero-knowledge transaction code that enables the network to function properly even if a single node fails. The code that runs the Darknodes is not allowed to deny a request, making it a highly secure way to store and transfer REN tokens.
Algorand
With its Layer-1 blockchain, Algorand is a leading candidate for a payment cryptocurrency. Its decentralized network allows for near-instant settlements, which is an important characteristic for payment cryptocurrency. Its use cases include supply chain, real estate, health care, governance, digital voting, and immutable backup. While the company is still in its early stages, the potential for use is substantial. In the coming months, the Algorand price is likely to rise significantly.
Cardano
One of the most popular cryptocurrency projects is Cardano. It aims to become the world’s financial operating system. It uses DeFi products similar to Ethereum. These products provide solutions to problems such as chain interoperability, voting fraud, and legal contract tracing. Although it is not the most easily acquired crypto currency, it is gaining ground fast. Cardano launched in September 2017 through an ICO to provide a better cryptocurrency than Bitcoin. It was designed to address a variety of regulatory requirements.
Terra (LUNA)
The Terra platform has two primary uses, one of which is a currency. One is a medium-term storage system for LUNA, while the other is a cryptocurrency that can be exchanged for fiat currency. The native token, LUNA, is the basis of the currency, which allows it to be used on the blockchain and is the basis for other projects such as the TerraUSD de-peg. In addition to this, Terra also allows redelegation.
Enjin Coin
Enjin Coin (ENJ) is an Ethereum-based cryptocurrency. Its purpose is to back the value of Enjin-powered blockchain assets. The coin was launched in 2017. It is a digital asset token based on the ERC-20 token standard. Users can store the tokens in a crypto wallet, or with a cusdian such as Gemini. ENJ’s supply is limited to one billion.
Loopring
While GameStop’s NFT venture may seem like an impossible feat, it doesn’t seem to be affecting the future of Loopring, which is already a top crypto. In addition to being an Ethereum-based token, Loopring allows users to create their own unique digital assets, trade them, and transfer them to others. The platform is currently a top crypto in the sphere of layer 2 solutions. To learn more about Loopring, read our review.