Generally, when we talk about crypto, people assume that we are talking about bitcoin.
But for some time now, the king of cryptocurrencies has seen its market share decline in favor of a new guard with sharp teeth. To be sure, bitcoin remains the number one crypto with a 38.95% market share of the total crypto market valued at $1.98 trillion at last check, according to CoinGecko.
Bitcoin is followed by Ether, the native token of the Ethereum blockchain, with a market share of 18.51%.
Bitcoin and Ether have always occupied the forefront in the crypto galaxy, that goes without saying. But the cryptos we are going to tell you about deserve your attention.
We would also like to remind you that crypto is a very volatile asset. Their prices can spike suddenly and drop a few minutes later without a logical explanation. The market does not often evolve according to the fundamentals.
These cryptos are the result of a project whose goal is to solve one or more problems related to the crypto/web3/metaverse galaxy. You can read the project on their websites and have an overview of who their investors are.
Solana (SOL)
Solana is the native token of the Solana blockchain. This platform allows, thanks to its technology, developers to build different apps. Whether it’s apps for decentralized financial services (dApps), non-fungible token (NFT) projects or projects related to web3, the new iteration of the internet which will replace web2, the centralized internet that we know currently.
Web3 promises an internet where users will have control of their data and not large groups like Facebook, Google or Apple.
Solana also boasts of being the fastest blockchain. That is to say that it is possible to carry out operations in an ultra-fast time. This is important because bitcoin and ethereum blockchains are known to be very slow. In addition Solana says it charges low transaction fees, another advantage over Bitcoin and Ethereum.
These different points are important because they are attractive to developers. The more people use Solana, the better it is for the platform token because the usefulness of the blockchain also guarantees its future, at least in the medium term.
Solana is however vulnerable to hacker attacks. Hackers attack bridges, an infrastructure that wants to make the Solana system speak to Ethereum blockchain for example.
SOL’s market share is currently 1.73% but it is expected to increase.
Cardano (ADA)
The Cardano blockchain offers almost the same services as Solana. The system nevertheless claims to be faster.
Its native token is Cardano or ADA.
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ADA’s market share is currently at 1.54%.
“Cardano restores trust to global systems — creating, through science, a more secure, transparent, and sustainable foundation for individuals to transact and exchange, systems to govern, and enterprises to grow,” the platform says.
Avalanche (AVAX)
The Avalanche blockchain offers almost the same services as Solana and Cardano. The system nevertheless claims to be faster.
Its native token is Avalanche (AVAX).
AVAX’s market share is currently at 1.06%.
“Launch Ethereum dApps that confirm transactions instantly and process thousands of transactions per second, far beyond any decentralized blockchain platform today,” Avalanche boasted.
It also said that it “deploys blockchains that fit your own application needs. Build your own virtual machine and dictate exactly how the blockchain should operate.
Polkadot (DOT)
Polkadot presents itself as the blockchain of blockchains or a “para chain”. Basically, it allows blockchains to talk to each other. Polkadot says it has achieved interoperability between blockchains. Basically, it allows you to switch from one blockchain to another without hiccup.
“Polkadot enables cross-blockchain transfers of any type of data or asset, not just tokens,” it said. “Connecting to Polkadot gives you the ability to interoperate with a wide variety of blockchains in the Polkadot network.”
Its native token is Polkadot (DOT).
DOT’s market share is currently at 1.03%
Polygon (MATIC)
The Polygon blockchain offers almost the same services as Solana, Cardano and Avalanche. The system nevertheless claims to be faster. Its native token is Matic (MATIC).
MATIC’s market share is currently at 0.48%.
The platform says that it “enables developers to build scalable user-friendly dApps with low transaction fees without ever sacrificing on security.”
