3 Cryptocurrencies You Probably Never Heard Of That Can Enter the TOP 100 in 2020
Altcoins are hard to predict. They suffer the brunt of market drops and tokens that were once in the top 50 have been shot down, dropping many places having lost a lot of market cap. There’s a silver lining to this - there are also altcoins that suddenly appear in the top 50 or 100. The altcoin market, like I said, is really difficult to predict. You either make good profit or you can make a regrettable loss.
But, given that I make altcoins a decent portion of my portfolio, I have to examine what altcoins might break into the top 50 or 100 - keeping an eye on them, their development objectives and accomplishments and general community opinion to be able to guess whether they’re going anywhere or not. And even then, I’m not always sure.
However, I have to shortlist them at some point, so here are a few tokens with great potential to grow, ones that I think will break into the top 100 in 2020. I find these to be hidden gems with good potential for profit.
1. Kyber Network (KNC)
The Kyber Network (KNC) project has been around for a long time, and for a while it had been doing well in the market as people praised it for its objectives. Kyber Network is working on a liquidity solution that accumulates liquidity from a variety of reserves - letting a variety of wallets and services to directly integrate Kyber Network into their application to permit direct token exchange.
Several wallets have already done this, including MyEtherWallet and Enjin. Interestingly, dapps and businesses can earn a commission for every transaction they facilitate on the Kyber Network, In other words, if dapps and businesses encourage adoption, they are rewarded for it.
Liquidity is still a huge problem for the market and it’s something exchanges are strictly focused on. Should Kyber Network manage to pull in more partners and grow the ecosystem, I think it has a strong place in the market as a service that provides liquidity - important when more people come on board to crypto.
2. iExec (RLC)
Cloud computing is a powerful service, but it is still relatively expensive. Keeping in theme with democratization, the iExec project is working on this highly lucrative use case - and has much competition in the space!
A decentralized, cryptocurrency based ecosystem is perfect for application in cloud computing. Just imagine that you, as a user, could rent out your idle computing resources and earn cryptocurrencies from it! Not only does this give people a passive way to earn some money, but it also gives people the opportunity to utilize a decentralized network of computers at an affordable price for various purposes. For example, intensive graphic rendering could theoretically be done much more quickly and cheaply through a decentralized network of computers.
The project currently has a set of released products, including a marketplace, an SDK, a dapp store and data wallet. The marketplace is the highlight here as it is where people can come together to rent and sell their computing resources. The SDK allows developers to work around scaling issues and the dapp store is where developers can monetize their dapps.
3. Polymath (POLY)
Polymath (POLY) is focused strictly on the tokenization of securities. The project’s goal is to “migrate trillions of dollars of securities” to the blockchain. This includes stocks, bonds, venture capital funds and private equity. Polymath believes that these assets, when converted into programmable code, will bring more liquidity, access and security to them.
Even better though is the fact that Polymath will help businesses launch their own STOs by making more accessible the process of launching an STO. The technical and legal difficulties of launching an STO still function as a barrier for businesses, but Polymath aims to change that. Security Token Offerings (STOs) are a prominent trend in 2019, The project has already helped over 120 different security tokens launch.
Polymath also follows KYC/AML procedures ensuring that it is following laws established by regulatory authorities.
Interestingly, the founder of another big project, Charles Hoskinson of Cardano, is working with the Polymath team to release a security token blockchain called Polymesh.
Polymath is homing in on a major use case of the blockchain, one that is much desired and could attract a great deal of investment from people across the world.