In the crypto industry, a few tokens have become the face of digital assets. If you ask the average person, crypto lover or not, to name three cryptos, they would probably mention Bitcoin, Ether, Cardano, XRP, or others in the top ten cryptos by market cap.
While these tokens have certainly done well for themselves and deserve to be recognized, it does mean that some very valuable options are overlooked. Knowing about underrated tokens also offers purchasing tips for investors looking to diversify.
From veteran tokens to the newer options in the market, here are some underrated cryptos you should know about:
One of cryptocurrency’s biggest appeals is the privacy it can offer consumers. And few cryptos offer quite as much privacy as Monero. Monero as a privacy token is so discrete that its movement and those who own and use it cannot be tracked.
Monero’s biggest potential is that many regulators are taking a harsher stance toward cryptocurrency. This means consumers might turn more towards privacy tokens like Monero to avoid regulatory persecution or simply because they want as much privacy as possible. Either way, this token should see more use moving forward.
Cosmos, as crypto, has so much potential thanks to its native blockchain of the same name. Cosmos acts as a bridge between other blockchains and lets them transfer value between each other using IBC and Peg-Zones. This means blockchain interoperability is fostered, making Cosmos one of the top cryptos to watch. In the future, blockchain collaboration, especially regarding new assets, will be a priority for the industry.
And because Cosmos the blockchain is already established at doing this, Cosmos the token will continue to progress.
Even though Ethereum is one of the biggest tokens in the world, it is still plagued by scalability issues, many of which haven’t yet been addressed. Arbitrum, an Ethereum Layer-2 scaling solution, has stepped in to address these issues by offering users faster speeds and better gas fees. Essentially, users can enjoy the benefits of Ethereum while avoiding its pitfalls.
Naturally, its native token has benefited from this and will likely continue to do so because Arbitrum is launching a Layer-3 solution soon. If Ethereum does not catch up, Arbitrum could give it a run for its money.
When we think of cryptos facilitating cross-border transactions, our minds tend to go to XRP. But Stellar also has much potential in the cross-border space and specifically caters to individual users instead of institutional ones. We know at this point that individuals remit money across borders for all sorts of reasons, and this will only increase.
If Stellar fully establishes itself as the go-to crypto for this purpose, it could corner a very lucrative and fast-growing market. While it might not yet be at XRP’s level, it shows much promise.
Anyone interested in crypto must know what the industry offers beyond the most well-known tokens. Several crypto projects are addressing current consumer pain points, catering to emerging markets, and are on track to becoming big players in the future.
Anyone considering diversifying their portfolio or being more aware of the many offerings of the crypto market should consider some of the options on our list. From all indications, they should be making a splash within and outside of the crypto market in the future.