An altseason is when a number of altcoins rise above both bitcoin and dollar at the same time. various research and analysis have revealed that the crypto space will experience another inevitable altseason similar to of 2017, even as BTC is and was also rising in price and with BTC having the highest dominance rate in the market but a number of coins have outrun BTC. However, going by the various research and analysis, there are numbers of coin which one have to write about. But article will only focus on the top altcoins that are making waves and doing better on OKExchange.
- ETHEREUM (ETH): ETH which was initially released 5 years ago is an altcoin that almost everyone knows and it has been competing with the almighty BTC for a very long time. It is a cryptocurrency built on the open source Ethereum blockchain and as well a decentralized blockchain that allows user utilize Decentralized Apps (DApps) and smart contracts. It is used to pay for gas and unlike BTC, Ethereum operates using accounts and balance in a manner called state transitions.
Many developers are seeking to build apps inside ether blockchain. ETH which is the leading altcoin saw a price rise this breaking the $400 threshold earlier this month. It was higher by 10% by the middle of this month. According to research and analysis, if an altseason emerges, ETH will most definitely benefit like it did in 2017.
- YEARN FINANCE (YFI): YFI token has hit $13,000 to become the highest coin and surpassing Bitcoin. The token which launched around July 2020 has elevated more than 2500% to hitting the $13,000 threshold and leaving the BTC at almost $12,000. YFI value shoot-up almost immediately after launched from $31-$1000 and still rising.
- CHAINLINK (LINK): $LINK which was created in 2015 is an Ethereum token that powers the Chainlink decentralized oracle network which allows smart contracts on Ethereum to securely connect to external data sources, APIs, and payment systems. The chainlink network provides tamper proof inputs and outputs for complex smart contracts on any blockchain. $link is most likely going to gain when an altseason resurfaces.
- RIPPLE (XRP): it was created in 2012 and was widely adopted by the public based on the fact that the XRP made global payment easy and possible. XRP platform is one that saves global transaction cost and it also reduced and abolished the rigorous stress one has to go through when making transactions with one’s local bank. It differs from other cryptocurrencies because it doesn’t involve mining or it may be said in some instances that XRP is not mining enabled.
The fact that mining is not involved means that latency and other computing powers doesn’t have a place in the XRP network. If an altseason eventually erupts XRP is likely to be in between because it is one of the cherished coins.
Below you can evaluate today’s traded volume distribution of above pairs in OKEX.