More than 10 cryptocurrencies currently in the top 20 will lose their places this year (2020). ~CryptoSorted.
What cryptocurrencies will enjoy the TOP 9 spot in 2020 and beyond? These and many such questions occupy the mind of most crypto enthusiasts, investors and speculators. Why does it even matter to rank cryptocurrencies and what factors are considered in the placement of cryptocurrencies on the coinmarketcap? This post is an attempt to provide some insight into these questions and more.
With over 3000 thousand different cryptocurrencies currently in the market and many more being launched almost every other day, it can become a real challenge trying to figure out which project IS best and worth investing in.
In previous posts, I talked about the factors to be considered before investing in any cryptocurrency projects. It is recommended you read them also and at the end you make your own independent decision on what cryptocurrency to invest in.
MUST READS
How To Invest In Cryptocurrency (BITCOIN) Like a Pro
Top 4 Things To Consider Before Investing In Any Crypto Project
Having to study and evaluate each of the thousands of cryptocurrencies in the market is nearly impossible, at least for me and you. That’s why we have platforms such as Coinmarketcap and others that provide you the much needed information at glance; so you can easily filter out the “shitcoins” from “richcoins” and make informed investment decisions.
As per data from the coinmarketcap, the following are the top 9 cryptocurrencies by market capitalization as at the time of writing this post (January 23, 2020). Note that by market capitalization we mean the cryptocurrencies that has the largest amounts of investments.
Top on the list is ofcourse, BITCOIN –the king of all crypto who has enjoyed that position unchallenged since day one. We are yet to see the cryptocurrency that would will replace bitcoin in the number one position in the nearest future –it will be really interesting to see that happen.
On the second position is Ethereum (ETH), who has struggled to maintain the number 2 spot most of the past decade and seeing XRP challenging and relegating it to the number 3 position briefly and a few times in the past.
Prediction for Top 9 Cryptocurrencies in 2020 and Beyond.
Personally I believe 2020 and the rest of this decade will witness a “natural selection” process that will bring the death of most of the useless cryptocurrencies with no special use case or purpose for existing, while those that bring real value to the market will enjoy greater adoption and ultimately the investors’ money.
It is my belief that more than 10 cryptocurrencies currently seating in the top 25 position will lose their place in 2020. Now it doesn’t mean that any cryptocurrency that’s not in the top 25 is bad or not good enough –as the business saying goes –follow the money. People tends to invest more in the best projects out there and if
So what cryptocurrencies do we see occupying the enviable positions this year and beyond?
1. BITCOIN (BTC)
From the beginning it has always been bitcoin. Not just because it enjoys the first-mover advantage but because bitcoin is considered the digital gold and the gold standard in the new financial system being created by cryptocurrencies to be used not just as a digital currency but a store of value and probably as reserve currency of nation states large corporates –no one can tell what the future holds but it’s mostly that bitcoin will take the place of Gold in the evolving financial system even though I don’t believe that’s going to happen in 2020 or even this decade for that matter. It’s a matter of time.
2. ETHEREUM (ETH)
Seriously I know people that will strongly debate this with me but it is worth noting that ETHEREUM is the first and most successful smart contract blockchain yet with hundreds and thousands of DApps built and being built on the platform almost every other day and many of which I guess you’re using right now. From the tokens being used to tip us here to some of the largest stable coins in the market such as Tether and I wouldn’t forget to mention it has arguably the best team and strongest developer community in the world (yet). Ethereum will not just continue to maintain its position in the top 3, it will continue to grow and increase in usage upon successful migration to ETH 2.0. The future of ETH is highly exciting and promising and we can only watch and see how everything plays out –I can’t wait to hear the ETH naysers change topic in 2022. Lol.
3. RIPPLE (XRP)
With a promise of near instant cross border payment, strong partnership and “political affiliation” (please I don’t have any explanation for what I mean by political affiliation) and regulatory leaning XRP is going to have a really exciting year. Though most of Ripple’s partnerships has nothing to do with XRP we can expect to see greater adoption and increased use of XRP for payment solutions across the globe this year and the nearest future.
4. Tether (USDT)
Tether (USDT) is a cryptocurrency with a value meant to mirror the value of the U.S. dollar. The idea was to create a stable cryptocurrency that can be used like digital dollars. Coins that serve this purpose of being a stable dollar substitute are called “stable coins.” According to their site, Tether converts cash into digital currency, to anchor or “tether” the value of the coin to the price of national currencies like the US dollar, the Euro, and the Yen. ~CMC.
The first and largest stable coin and arguably the most controversial stable coin in the market doesn’t look like it’s dropping its dropping a place this year or any time soon. One strange thing I have come to notice in this cryptocurrency space is that the firs-movers have very strong hold of their markets. I can’t really say exactly why (maybe investors are sticking to what already works for them and not wanting to risk jumping on the new and shining new platforms as they have come to find many of them to be basically worthless and outright scams) but it’s interesting to see how the new comers challenge the status quo with more innovation products and probably stronger marketing. Tether, despite the many controversies surrounding it has maintained its lead in the stable coins sub market and doesn’t look like that’s changing anytime soon.
5. BITCOIN CASH (BCH)
Peer-to-Peer Electronic Cash: Enabling new economies with low fee micro-transactions, large business transactions, and permissionless spending. Bitcoin Cash brings sound money to the world, fulfilling the original promise of Bitcoin as "Peer-to-Peer Electronic Cash". Merchants and users are empowered with low fees and reliable confirmations. The future shines brightly with unrestricted growth, global adoption, permissionless innovation, and decentralized development. ~The Team
So claims the BCH community on their website. BCH wouldn’t have made it to this list if it were based on my personal sentiment as I am not fan of Roger Ver and Bitmain. Plus I don’t really trust bitmain and those backing BCH mostly maybe because of their outspokenness and public bashing and debasing of BTC. Nothing can be as false and misleading as stating that BCH or any of the other baseless forks of BTC is the “real bitcoin”. Though getting that to sink even into the brain of a newbie hasn’t been successful and I don’t think it will ever. Notwithstanding, given the drive to grow merchants adoption of BCH and just like DASH it aims to replace cash entirely by encouraging users and merchants to spend, shop and purchase things with BCH. This effort has been very much productive with currently over 1000 BCH merchant stores globally. There’s more work to be done but with all sincerity the team is on the right track towards mass adoption and they will move faster and farther if they can just shift focus from bashing bitcoin to minding their own business.
6. BASIC ATTENTION TOKEN (BAT)
Global digital advertising is projected to be worth over 517 billion dollars by 2023 ~according to data from Statista
BAT and the Brave browser is leading the campaign in the tokenization and application of blockchain in digital advertising subsector. Given the quality of the team and the partnerships being secured almost every month and looking at the results and level of adoption of the BAT token and browser so far it’s easy to predict that the BAT is going to enjoy some real growth this year and the rest of the decade. If BAT can only capture just 2% share of the digital advertising market its market capitalization will be worth over 10 billion dollars. The BAT and Brave Browser are exciting projects to keep an eye on this year and going forward for many reasons I can’t go into much details here.
7. Tezos (XTZ)
Tezos addresses key barriers facing blockchain adoption to date: smart contract safety, long-term upgradability, and open participation.
Birthed 2018, at a time when the crypto market was “dying” and suffocating from the dip fever XTZ has gained unprecedented popularity and attention –thanks to the popularization of its staking program which investors see as a good opportunity to earn passive and residual income.
8. LITECOIN (LTC)
This bitcoin “firstborn” – the first and probably less controversial fork of bitcoin is loved by many for its faster transaction confirmation speed compared to bitcoin and near zero fees. LTC is branded as the “cryptocurrency for payments”. How well LTC maintains its position in the top 9 beyond 2020 will be interesting to see. With superior technology coming into the market and having little to no “active community activity” (marketing wise); simply being a “low fee, fast transaction time” might not be the winning proposition in a crypto market that’s no longer “me vs bitcoin”.
9. EOS
EOSIO operates as a smart contract platform and decentralized operating system intended for the deployment of industrial-scale decentralized applications through a decentralized autonomous corporation model. The smart contract platform claims to eliminate transaction fees and also conduct millions of transactions per second. ~CMC.
This ETH biggest rival and “China’s Smart Contract Blockchain” is one of the most valuable smart contract platforms currently in the market and promising to process millions of transactions in a second with zero fee. Though it seem to be Geo-targeted –serving mostly the Chinese market but it’s a great project to keep an eye on this 2020 and beyond as it aims to make EOSIO™ the fastest, most scalable, and easiest to use blockchain in the world. Of course I see TRX on the horizon as an upcoming smart contracts platform; but it needs to "prove" and establish itself as a worthy top 3 smart contract blockchain and I see it competing well against ETH and EOS. Will EOS beat and overthrow ETH in the smart contract market? That’s left to be seen in the years ahead. It will be interesting to see how the competition plays out. One thing is certain though –only the best will survive and flourish.
What cryptocurrency do you think will be in the top 9 by market capitalization in this year and beyond? Share your top favourite pick with us in the comments section below below.
