Cryptocurrency: Undiscovered Gems of the Digital Sea

Investigate Before Investing

While all three of the cryptocurrencies above have increased by double digits in the last seven days, Bitcoin and Ether have failed to wow with their returns. While digital currencies can increase wealth, investors, like with any other investment, must choose their stock carefully. For instance, blue-chip stocks are not necessarily the most rewarding investment for stock market investors. Even penny stocks can quickly multiply your money. Similarly, while certain digital currencies may not have a large market cap, they can generate wealth for short- to medium-term investors.

Curve Dao Token, an altcoin, was the highest performer in the cryptocurrency sector over the last seven days. It has increased by about 47%. Several lesser-known cryptocurrencies, such as Mdex, and OKB, have also experienced double-digit growth. For investors, it may be time to pay attention not only to the tweets of a multibillionaire CEO but also to relatively obscure digital currencies. Several of them, such as Theta, may have a potential blockchain network that may significantly increase the value of their tokens if adopted by large corporations. Always conduct a thorough analysis of all available possibilities before investing.

Polkadot

Crypto specialists are often referred to as the 'Ethereum killer,' it is also one of the most actively traded altcoins. The system functions similarly to a blockchain for blockchains, allowing users to engage with several blockchains concurrently. Developers mostly use it to integrate more blockchains into an existing ecosystem. Individuals that use the Polkadot blockchain system perceive it to be more user-friendly and inexpensive than Ethereum. The system is designed to decentralize the web and facilitate the use of smart contracts.

Polkadot token trading began about a year ago, and investors were eager to purchase ownership. Bitcoin has remained stable at the same level for the last seven days, while the Polkadot currency has increased by more than 18%. This is no small effort in light of recent bad developments in the field, like Elon Musk's statements condemning bitcoin and China's prohibition of all digital currency activity. Polkadot is currently priced at about US$28 per unit. The market capitalization of this cryptocurrency exceeds US$26 billion, and there are about 944 million Polkadot coins available for sale.

Injective Protocol (INJ)

The currency has partnered with Klaytn to enable decentralized trading for users. Through this collaboration, Injective users will leverage the Klaytn blockchain to create new derivatives markets based on Klaytn assets. Injective Protocol (INJ) is now ranked 169th and costs approximately $13. Last year, Injective launched a testnet for DeFi protocols for cross-chain derivatives, funded by Binance. This has raised an impressive $10 million in recent months, with Pantera Capital, BlockTower, and others.

Kusama

It has the potential to be a hidden treasure within the cryptocurrency world. While it ranks among the top 30 cryptocurrencies in terms of market capitalization, it has yet to attract the attention of a larger pool of investors. It has now forged its path and now provides developers with a faster alternative to Polkadot. Polkadot is more oriented around decentralized finance, whereas Kusama is more oriented around non-fungible tokens (NFT).

Kusama is not currently accessible for trading on Coinbase, but it is available on Kraken. Over the last week, Kusama has gained approximately 43%, outperforming almost every major cryptocurrency. Kusama has a market capitalization of about US$ 4 billion and a token price of nearly US$ 465 per token. Thus far, developers have generated only 8 million Kusama tokens.

Celo (CELO)

Celo is the next altcoin on the list (CELO). "Celo is not a coin with a little market cap. Indeed, it is bleeding in lockstep with the rest of the market. However, recent developments imply that it may have significant upside potential in the coming months", the trader notes. Deutsche Telekom, the German telecommunications operator, announced that it would invest in the Celo Network this week. Deutsche Telekom will stake 100% of its CELO investment, utilizing the telco's infrastructure and validators and earning approximately 6% in betting rewards.

Theta

Theta is unique in comparison to other blockchain networks and their associated coins. It is a video distribution network that leverages blockchain technology to enable viewers to earn tokens while watching videos. The viewer's only responsibility is to forward the video to others. Additionally, users of the Theta network can share excess bandwidth and other computational resources with their peers. Samsung, Google, and Binance are among the companies that use Theta's Enterprise Validator Nodes to generate new blocks in the network.

On Theta's network, users have access to a diverse selection of video content and peer-to-peer streaming. The network's primary service is Theta.tv, a video streaming platform. This capability will also be available on Samsung smartphones shortly. Users will not be required to download a new app to their smartphone and earn incentives to utilize the Theta blockchain network.

It has gained about 20%, and each token is now worth nearly US$8.8. The market capitalization is close to US$8 billion, and there are almost 1 billion tokens in circulation. Theta is a cryptocurrency that can be traded on the Binance market.