The Top 10 crypto-currencies to watch out for in 2021

Cryptocurrencies, like Bitcoin, saw a boom year in 2020. The year 2021 promises breakthroughs for some of the sector’s so-called outsiders. 

Despite the economic turmoil of the past year, the crypto market remains as buoyant and the community as loyal as ever. Here we have compiled a list of the top crypto-currencies, platforms or projects to watch out for in 2021.
Out of the 8,000 or so existing crypto-currencies, we have selected ten with the most promising growth prospects. 

10 – OCEAN PROTOCOL (OCEAN)  

Capitalisation: $366 million
Number of tokens in circulation: 613 million
Token value: 0.8439 euros
Data as of 16/02/2021

Ocean Protocol is a platform for organisations from all sectors to share their data. Their main target sector is research. All over the world, researchers conduct studies based on data sets. Each research institute, however, relies on its own data stock. This is the whole essence of Ocean Protocol. Providing researchers with the means to share their data could lead to significant advances in scientific research in the future. 

This is the main goal of this Singapore-based startup, which developed its system for 18 months before launching its beta version. Businesses, governments and other institutions can now share their data. This service is provided through a decentralised blockchain system and a well-honed artificial intelligence.

This is clearly a crypto to watch this year. The price of OCEAN has been on an upward trend for over a year now. It has increased from 0.2635 euros to 0.8439 euros at present.

Advantages:

• Innovative data sharing system
• Open data approach
• “Federated learning” system for increased security

Disadvantages:

• Ocean operates technology that is still in its development phase
• Its project development still needs to be fine-tuned

9 – ICON (ICX)

Capitalisation: 536 million
Number of tokens: 800 million
Token value: 1.13 euros
Data as of 16/02/2021

Founded in May 2016 by Dayli Financial Group, ICONLOOP is a tech company based in Seoul, South Korea. It first developed “loopchain“, its own ecosystem on which it bases a wide range of its services.
One of its most promising projects is to set up a network of public blockchains. This is the ICON project accompanied by its token, the ICX.
The team is developing a platform that will allow multiple blockchains to interact with each other. The project is ambitious. Connecting actors from finance, security, insurance, health, education, commerce etc. on a single network. All within the loopchain.
The ICX token, sometimes referred to as the “Korean Ethereum“, acts as a link between all the components of the ecosystem. You can pay the network’s transaction fees with it.
The project, currently supported by the South Korean government, could soon be extended to Japan. It is therefore possible that other governments and countries will start using ICON and its cryptocurrency. The startup already has a large number of partnerships. In particular, with the two largest banks in the country, as well as with Samsung.
The ICX is therefore on a good dynamic that seems to know no limits. At 0.3566 euros in February 2020, its price has tripled in just one year and is now above 1 euro. According to crypto-analyst Michael van de Poppe, “Icon still has great potential“.

Advantages: 

• The project is supported by the South Korean government
• It is one of the most active development teams on the market. Numerous partnerships are already in place and some are currently operational
• The governance and protocol as a whole are well thought out
• The community system is original and innovative
• The token has a real purpose and is important for the operation of various crucial points of the ICON Republic
• Plans to link blockchains

Disadvantages:

• The project is complex to understand for a beginner. It is undoubtedly one of the most complicated to master in the world of cryptocurrencies.
• The team has had several delays in reaching their planned goals
• In 2018, the ICX token lost up to 95% of its value, which means that investors may have lost confidence in the project

8 – NEXO (NEXO)

Capitalisation: 900 million
Number of tokens: 1 billion
Token value: 1.37 euros
Data as of 16/02/2021

Nexo allows its users to obtain loans in cash (euros, dollars, etc.).  With a pledge on the users’ crypto-assets as a guarantee. The project was developed by Credissimo, a large fintech group with millions of customers in Europe.
The principle is simple. In our daily lives, we use fiduciary money (cash). Very few businesses accept crypto-currency payments. We therefore need to convert our digital assets into traditional currencies to pay. Sometimes, however, for a variety of reasons (e.g. the risk of missing a growth opportunity), we don’t want to convert them.
Nexo addresses this issue. The startup has developed a concept where the company lends money to individuals and uses customers’ crypto-assets as collateral. If a customer fails to pay on time, Nexo can automatically withdraw the crypto-assets in a customer’s wallet.
Nexo’s price development is breathtaking. It ranks as one of the strongest performers in this list. It has increased almost 8-fold in one year, from 0.1747 in February 2020 to 1.37 euros today. But this good momentum is even more entrenched over time. The crypto-currency has seen $3 billion in transactions in 2 years, and had one million users by the end of 2020.

Advantages:

• Quick and easy access to loans by depositing crypto assets
• The team behind the project comes from Credissimo, a 10 year old credit organisation in Europe.
• Possibility to pay your instalments with the currency of your choice: money, crypto-assets, NEXO tokens.
• Owning NEXO tokens allows you to benefit from an advantageous rate on the loan
• The token entitles the holder to a 30% share of the company’s profits in dividends, calculated in proportion to the tokens held
• 40 fiat currencies available
• Available in over 200 countries

Disadvantages:

• Not all crypto-currencies are supported (only about 20)
• The only currencies currently available are the dollar, the yen and the euro
• Interest rates are not as low as those of its competitors. It starts at 8% and can go up to 30%

7 – PAXOS STANDARD (PAX)

Capitalisation: 674 million
Number of tokens: 675 million
Token value: 0.8305 euros
Data as of 16/02/2021

The Paxos Standard is a stablecoin, which is a token that replicates a fiat currency. It has been issued by Paxos Trust Company since 10 September 2018. This token is present on 18 crypto-currency exchange platforms including Binance.
It can be very useful and popular among investors. It offers indeed several advantages. You can conduct cheap transactions easily. You can also transfer and pay easily anywhere in the world. Finally, PAX allows you to trade outside of bank cut-off times.
Even though the price has decreased over the last year, Paxos Standard is attracting new – and major – customers. At the end of 2020, Société Générale joined the blockchain for securities transactions.

Advantages: 

• Paxos is a trust company regulated by the New York State Department of Financial Services, making it a strong and reliable entity
• It is convenient to use
• Paxos Standard is supported by many major crypto-currency exchange platforms
• Collateral held in the reserve bank is certified on a monthly basis by an independent auditor
• A high number of tokens have been issued. PAX therefore has good liquidity

Disadvantages:

• The token has the functionality to freeze transfers for any address. This means that Paxos must be trusted to always act in good faith
• Although PAX is supported by many major exchanges, none of them support US dollar withdrawals
• There were a number of scam rumours for this network in 2020

6 – AVALANCHE (AVAX)

Capitalisation: 4.5 billion
Number of tokens: 360 million
Token value: 40.21 euros
Data as of 16/02/2021

Developed by the company Ava Labs, Avalanche is an open source platform for the creation of decentralised applications. It is possible, among other things, to create all types of digital assets in the form of tokens.
Avalanche describes itself as a “revolutionary” technology, as it uses a new consensus protocol, which is less energy consuming and more scalable than others. It is built around a reputation system. This consensus mechanism is also the most secure of all: it can tolerate 80% of rogue traders, compared to 51% for Bitcoin.
The evolution of the AVAX price illustrates the interest in the strong development of this crypto and this technological system. At just €4 in September 2020, it has since increased tenfold.

Advantages:

• Much more resistant to standard attacks on blockchains
• Energy-efficient system
• Supports thousands of participants without any loss of performance
• AVAX is a fairly stable crypto-currency
• The system is relatively heterogeneous
• Allows almost instantaneous transactions

Disadvantages:

• The formula proposed by Avalanche can be restrictive and complex for a beginner
• It requires a lock-in period to benefit from an interesting return and a minimum amount of 2000 AVAX

5 – ELROND (EGLD)

Capitalisation: 2.4 billion dollars
Number of tokens: 21 million
Token value: 117.30 euros
Data as of 16/02/2021

Elrond is a promising Romanian project that started in 2017. Its goal is to create a platform capable of meeting the global demand for cryptographic transactions.
In just three years, the team has developed a network capable of processing up to 11,500 transactions per second (compared to just 5-7 transactions for Bitcoin). By comparison, the Visa network, the most widely used in the world, offers 1,800 transactions/second. That’s a figure to make your head spin.
The team behind the project is reliable. It is composed of entrepreneurs, engineers and researchers with technical experience at Intel, Google, Microsoft and a background in blockchain. Egold is therefore highly regarded as a future market leader.
Finally, Elrond grants access to the use of its network through its token, the ERD. All the costs of the network pass through this token. Holders can earn rewards proportional to the amount of ERD invested in network management.
The Elrond project impresses with its ambition and expertise. The famous magazine Forbes recently featured it. “Elrond is already up and running.  It is certainly the most successful blockchain project in the world. The next Amazon or Google will be crypto, and it may already be emerging behind a smart-contract launched on Elrond.”

Advantages: 

• The Elrond code is open source and can be checked by anyone on GitHub
• Available from brokers regulated by financial institutions
• No fees for buying tokens
• The Elrond project relies on many partners, such as Binance
• Ergonomic platform
• Many investment funds are investing in the Elrond project
• Good returns on investment
• A very secure system

Disadvantages:

• Levy of transfer and blockchain fees
• No customer service to explain or help you with any problems
• The platform is accessible in two languages only: Chinese and English

4 – BINANCE COIN (BNB)

Capitalisation: 18.8 billion
Total number of tokens: 170 million
Token value: 105.89 euros
2020 price variation: + 110%
Data as of 16/02/2021

Binance Coin (BNB) is a token used within Binance, one of the world’s top cryptocurrency buying and trading platforms. Since its launch in July 2017, the company has continued to innovate. BNB is a fine example.
Traders are now buying it in order to reduce the fees they pay when trading on Binance. This also allows them to participate in Binance’s IEOs (fundraising events). The company has its own platform dedicated to IEOs of crypto projects: Binance Launchpad. Owning BNB is a requirement. Not forgetting the commissions on referrals.
The least we can say is that the price of BNB is constantly rising. It was at $50 until recently but recently passed the symbolic $100 mark in early February. We must remember that almost exactly one year ago it was at just 20 euros. This is proof of its strong momentum. The price has stabilised, but the continued success of Bitcoin could take Binance to new heights. It is definitely one to be watched closely.

Advantages: 

• Binance is the largest exchange in the industry in terms of the number of users and volume of transactions
• The number of BNBs will eventually be halved, its value may increase over time
• BNB is very useful in reducing transaction costs for all Binance products
• Only BNB can be used to participate in the IEO of the Binance Launchpad
• This token is the largest native token of an exchange in terms of capitalisation (top 10)
• A large number of companies accept BNB as a means of payment

Disadvantages:

• Closely linked to Binance, the BNB depends on the good health of this company
• As almost all BNBs are stored on Binance by default, the risks of hacking are very high
• BNB may lose its ability to reduce transaction fees on Binance in the future. Traders could quickly turn away, causing the price to fall
• On numerous occasions, Binance has faced regulatory problems, forcing it to move to other jurisdictions
• The centralised governance of BNB does not provide any decision-making rights for the community. Binance remains the master of all decisions made with its token

3 – CHAINLINK (LINK)

Capitalisation: 10.6 billion
Number of tokens: 1 billion
Token value: 22.93 euros
Data as of 16/02/2021

Like Nexo, ChainLink offers an “oracle” type service. It is, in fact, the oldest project to provide this type of service. It provides so-called “off-chain” information, as it comes from outside the network. We are talking about simple information such as the temperature on a given date, the winner of a sporting event, the result of a vote on a new law, etc. These are elements that the users at the heart of their blockchain did not have access to.
It does this while guaranteeing the reliability of the information. Thanks to its entire technological ecosystem, it is able to detect and weight inaccurate data. Its reputation system also prevents unpleasant surprises. LINK tokens are used to reward users for their information or for their work on the network.
The success of the LINK is undeniable and can be measured both in the moment and over time. The value of the token reached an all-time high of $26.90 on 5 February 2021. Its price has more than doubled in one month, and it has increased fivefold in one year.

Advantages: 

• Integrating off-chain information in a simple and efficient way
• Possibility to choose the oracles
• Reputation system that discourages oracles from transmitting false information
• Weighting of information provided by oracles if they are not completely identical
• Eventually, its oracle system will be able to work with other blockchains

Disadvantages: 

• Only 35% of the tokens were sold to the public
• The development team does not communicate much on the evolution of the project
• Competitors seem to be reaching their goals faster

2 – ETHEREUM (ETH)

Capitalisation: 198 billion
Number of tokens: 114 million
Token value: 1,486 euros
2020 price variation: + 340%
Data as of 16/02/2021

Ethereum, which has been around since 2015, is comparable to a huge global computer. Its network is made up of thousands of computers connected to each other through the Internet. This platform, once again, allows developers to create decentralised applications.
It is, however, the most efficient system on the market. It allows users to mine the cryptocurrency called Ether by creating smart contracts that verify each transaction. The currency, ETH, serves two purposes: it pays miners who guarantee the validity of the blockchain; and it pays the fees for using the applications.
Many of the projects being developed on this network are related to decentralised finance. This means being able to lend or borrow crypto-currencies. Some developers have created concepts to bet on the future. A feature that makes it all the more interesting.
In December 2020, an important transition for the network began. Ethereum 2 will be launched shortly. This is set to be a more efficient network with much faster transactions. Ethereum will do its utmost to remain at the forefront of the decentralised application market.
As the market currently stands, ETH has as much, if not more, chance of performing well compared to Bitcoin in the coming months. Institutional investors are becoming increasingly interested in it. It is very close to its historical value. According to Joey Krug, co-investment director of Pantera Capital, the value of the token (already at 1,486 euros) could soon be multiplied “by 5 or 10“.

Advantages:

• A transparent, secure and reliable network
• No one can modify a smart contract once it is online on the network
• The Ethereum network is active 24 hours a day

Disadvantages:

• Applications are dependent on the Ethereum blockchain scaling, which is not perfect
• A smart contract that contains a bug or a flaw cannot be modified
• Its monetary policy is not as well defined as for Bitcoin

1 – BITCOIN (BTC)

Capitalisation: 800 billion dollars
Number of tokens: 18 million
Token value: 40,190 euros
2020 price variation: + 170%
Data as of 16/02/2021

This crypto-currency, which broke all records in 2020, needs no introduction. Its capitalisation has been multiplied by more than 2.5 over this year! Bitcoin is the world’s leading crypto currency, and is preparing to celebrate its 13th anniversary. 2020 was its big year. Its stock market price increased 9 times in just one year.
Its value reached $40,000 at the very beginning of 2021 (10,000 times higher than 10 years ago). The year was marked by the possibility (in the US) to buy crypto-currencies via PayPal, the world’s leading payment processor, and by strong institutional interest. Many major corporations made substantial investments in Bitcoin, while leading public players sang the praises of the world’s first crypto-currency. BTC is now a major player on Wall Street.
This success is mainly due to the liquidity injections in response to the health crisis, the resulting decline in financial stress, as well as the drive to institutionalise cryptocurrencies.
One thing is for sure, the queen of cryptos will be on everyone’s radar in 2021. Bitcoin is expected to remain fuelled by the falling dollar index, continued injections of liquidity, and its high profile in the media.

Advantages:

• The most famous cryptocurrency
• Almost instantaneous transfers, less than ten minutes and with no costs
• Global dimension of exchanges
• Payment fees lower than those of bank cards or Paypal
• No limit on the amount transferred
• No intermediaries to store or transfer bitcoins
• Possibility for anyone to exchange bitcoins
• “Anonymity” of transactions

Disadvantages: 

• Disagreements between minors can create instability
• In the sights of governments: may enact laws to prohibit the conversion of fiat currency into BTC
• Highly volatile crypto-currency, sensitive to current events
• Transactions still very slow
• Risk of speculative bubbles