There are some altcoins worth investing in besides $DOGE. The rise of Cardano and Polkadot suggests that it is time to forget dogecoin.
The cryptocurrency market is growing and expanding in all areas. The price of bitcoin has more than doubled in the past three months. Following the surge in parent currency, some altcoins have also managed to break out form their resistance zone. Furthermore, a few of the currencies are occupying the central stage after coming out of obscurity. Two of them are Cardano’s ADA and Polkadot.
Dogecoin was popular in the past few weeks due to incessant discussion surrounding it. Some of the popular celebrity Twitter accounts have been popularising $DOGE. This fueled frequent pump and dump of the currency.
The new crypto investors often have their eyes set on popular currencies. Nevertheless, some of the not-so-popular currencies have more potential in the long run.
Cardano’s ADA surged more than 250% in the month of February. It is listed on the 4th number on coin market cap with a market capitalization of $39 million. At press time, the price of ADA is $1.25.
Cardano’s blockchain is a rival to Ethereum. It uses the proof of stake method. Moreover, Ethereum’s price is significantly higher than the ADA. Thus, ADA can be a good alternative for building decentralized apps.
Coinbase Pro, the US-based crypto exchange, has allowed the trading of ADA on its platform starting from yesterday.
Polkadot is a new and rising crypto blockchain. It was launched in 2020 in the middle of a global pandemic. It is at the 6th number on the list of cryptocurrency according to market cap. Moreover, the price of the currency is $36.59.
Polkadot is a highly anticipated cryptocurrency venture. Its next-generation blockchain technology allows developers to build their own blockchains and join them with each other.
Cross-chain integration is encouraging investments in Polkadot.
Diversifying the portfolio is a technique to hedge risk in the cryptocurrency market. The availability of multiple well-performing altcoins suggests that it is time to forget dogecoin. Therefore, invest in currencies with potential in the long run.