Although there are dozens of cryptocurrencies, Bitcoin and Ethereum are the only facts when it comes to permanence. The first cryptocurrency, Bitcoin, was launched in 2009; In 2015, Ethereum was developed as a “Bitcoin killer”. Now, Nasdaq analyst John Csizar talks about 2 altcoin projects that could topple Ethereum.
Nasdaq analyst: These two altcoins immediately gained popularity as the “next” Ethereum among investors when the next Ethereum
Solana (SOL)
sold above $260 in late 2021 . As of June 2022, it has now quickly dropped below $40. Despite the altcoin market suffering in 2022, Solana still maintains a market cap of around $13.5 billion. This makes it the ninth largest cryptocurrency.
Solana has received a lot of attention as a future cryptocurrency, partly because it was the first Blockchain to use PoH. Compared to the PoW protocol used by cryptocurrencies like Ethereum, PoH is intended to be very fast and costs lower. Solana can handle around 50,000 transactions, compared to Ethereum’s 15 to 45 transactions per second. This makes it possible for Solana to grow rapidly. As a result, market leaders already have one of the basic conditions to surpass Ethereum or Bitcoin.
Large organizations such as JPMorgan Chase and Bank of America, which previously said Solana could be the “visa of the digital asset ecosystem”, have shown their trust in Solana as a result of these qualities. More than 400 projects are now active in the Solana ecosystem, including decentralized exchanges, wallets, and other DeFi initiatives. The platform also supports stablecoins such as Circle’s USD Coin. Solana’s future may still hold promise, given its inexpensive cost and scalability, Nasdaq analyst John Csizar said.
Pos Blockchain giant Cardano (ADA)
Cardano has gained traction as it is faster and cheaper than Ethereum as it tries to surpass other cryptocurrencies by becoming a more environmentally friendly option. Charles Hoskinson, one of the founders of Ethereum, actually founded Cardano and stated that Cardano can be built on older technology and concepts than Ethereum.
Faster, cheaper and more secure, Cardano was created as the first PoS Blockchain. Compared to Ethereum, Cardano’s strategy involves more research. It will also become more flexible and scalable as a result of the third generation cryptocurrency introducing smart contract functionality. According to some observers, Cardano Crypto 3.0, Ethereum Crypto 2.0, Bitcoin Crypto 1.0.
With a market cap of approximately $30.5 billion currently, Cardano is the 6th largest cryptocurrency. The price of Cardano, like the majority of other cryptocurrencies, has dropped significantly. Cardano is now trading at around $0.47 after hitting a high of almost $3.10 in September 2021. This highlights the enormous danger of investing in even the best cryptocurrencies.
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