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Cryptocurrency may have started out as the maverick-dominated Wild West of investing, but it’s now firmly entrenched in the financial mainstream. Despite recent volatility and regulatory crackdowns in China and elsewhere, institutional investors and big banks are beginning to regard it as a serious asset.
Consider the following if you need proof of how volatile it is: over the past year, Bitcoin’s (BTC) value has fluctuated between a low of $28,893.62 and an all-time high of $68,789.63, as of April 2022.
Despite the volatility, many crypto investors are still waiting for the next big payday. Continue reading to find out why Ethereum (ETH), Algorand (ALGO) and Parody Coin (PARO), which is in its presale, are expected to be three cryptocurrencies poised to take off in the near future.
Ethereum (ETH)
Ethereum, also known as ETH, is the world’s second-largest cryptocurrency after Bitcoin (BTC), and has recently outperformed Bitcoin (BTC) in terms of price gains, according to CoinTelegraph. Ethereum (ETH) underwent a major upgrade last year, which included reducing the ETH supply, which is now at 119.88 billion coins. The upgrade also improves the Ethereum (ETH) network’s scalability and lowers transaction fees by allowing it to handle more transactions per second.
In comparison to Bitcoin (BTC), Ethereum (ETH) lacks scarcity (for comparison, the supply of Bitcoin (BTC) is limited to 21 million coins) and widespread acceptance by businesses and governments. Unlike Bitcoin (BTC), however, Ethereum (ETH) is more than just a store of value. It’s also a platform on which apps can be developed. Ethereum (ETH) is the foundation of DeFi and is used to issue other cryptocurrencies.
Algorand (ALGO)
ALGO, which was founded by renowned computer scientist Silvio Micali, has positioned itself as a rival to Ethereum’s (ETH) blockchain. According to Securities.io, it is used by hundreds of companies, and it received a major boost last year when El Salvador announced that it would use Algorand (ALGO) to build its blockchain infrastructure.
According to Blockworks, Borderless Capital, a venture capital firm, recently launched a $500 million fund to invest in digital assets that power decentralised applications on Algorand. Algorand is also used by the Marshall Islands’ central bank’s digital currency, Sovereign (SOV).
ALGO’s “proof-of-stake” algorithm, which provides a high level of security and scalability while using less electricity than Bitcoin and other platforms, is one of its biggest advantages. As cryptocurrencies face increased criticism — and possibly regulation — for their massive energy consumption, this feature will only become more important.
Parody Coin (PARO)
Parody Coin (PARO) is arguably one of the most unique cryptos that’s about to emerge, and for that reason it’s predicted to revolutionise the market.
Parody Coin (PARO) aims to tackle the inaccessibility of the NFT market, which is often critiqued for its exclusive and elitist nature. Thus, the platform allows for the minting of parodies of the most popular NFTs, as well as enabling the possibility to trade and earn from the activity. Users can derive utility value from it if it is a functional NFT, just as they would from the original NFT.
The special thing about Parody Coin (PARO) is that if a parody is made of a NFT, the owner of the original NFT can gain ownership over the parody NFT by burning or locking the original. If this will happen frequently enough, the entire NFT market could potentially migrate to the Parody Coin platform (PARO).
The platform’s main features include the marketplace, the Parody Bridge, which will allow holders to transfer their PARO onto other blockchains, and Parody Swap, whereby holders can exchange any cryptocurrency on any blockchain for the equivalent amount of PARO.
If you want to get in on another presale, Automish Coin (ATI) has been receiving a lot of attention from the crypto community. Although Automish (ATI) describes itself as an action roleplaying P2E game, the platform has devised a variety of other features and methods for holders to profit, enabling both gamers and non-gamers alike to gain from the token.
One feature anticipated to launch Automish (ATI) into success includes its extensive rewards system. First, holders earn ATI simply by holding it in their wallets, thanks to the platform’s automated reflection process. Moreover, rewards can also be distributed in cryptocurrencies other than ATI directly into their BEP-20 wallets, such as BTC, BNB, BUSD and many others. Rewards can also be earned the conventional ways, like through staking or performing tasks that aid the network in running smoothly.
Learn more about Parody Coin (PARO) here:
Learn more about Automish Coin (ATI) here: