We are in the fifth month of this year and the second month of the much-awaited crypto bull run. Many say it is just a phase of the crypto winter, while others are more optimistic. Let us look at the top cryptos of this year.
Investing in altcoins has never been a better option than right now. The volatility index shows that the market is growing without having to rely on Bitcoin. While Bitcoin still determines and up or down trend, the altcoins do not follow this trend exactly.
Let us break down the top coins into 4 different categories, Top tier, Second tier, and Third Tier
Top Tier (BTC)
Bitcoin still remains the trendsetter and its dominance over the industry have grown by close to 7%. Bitcoin touched a new yearly high of $5,950 a couple of hours ago. This is its highest price for almost half a year, before the big dump in November. The 4 percent surge on the day has lifted BTC market cap to $105 billion as volume pumps to $17 billion.
Second Tier (ETH, XRP, LTC, and XLM)
Ethereum has been boosted by the CTFC nod to the possibility of regulated futures contracts. Over the past 24 hours, ETH has surged 12 percent to reach a high of $180 before pulling back slightly. LTC is traded widely and accepted at thousands of retailers both online and offline for payment. It is also a currency that does better than Bitcoin when the going is good, and worse when the going is bad. Some care should be exercised when buying Liteocin, but there is no doubting that it will be a great performer this year with what looks like an extended bull market coming.
While Ripple’s performance might be a bit lagging behind other altcoins, the cryptocurrency has managed to relatively stand its grounds, despite increasing competition. Throughout 2019, XRP actually experienced a slight decline of about 7 percent against the USD. Against Bitcoin, it’s a different story, as the coin’s chart looks like a complete crash since 2019 had started.
Stellar Lumens is a high cap coin, sitting comfortably in the top 10. Many in the industry are convinced that 2019 is the year that crypto becomes a serious player in the cross-border remittances game and Stellar is one of the leading contenders.
Third Tier (Tron, EOS, and BNB)
Tron platform achieved a higher throughput than Bitcoin or Ethereum by making significant amends in the protocol. The much-awaited project of Tron, DAppChain is due to be launched by May 30, and the price of the coin can soar post this. The project promises an increase in transaction speed & capacity, full proof security & flexibility and lesser consumption of energy.
Binance has launched its own Binance Chain as a precursor to the unveiling of its decentralized exchange, the BinanceDEX. Increasing cryptocurrency adoption is one of Binance’s key goals and in 2018, they added no less than 50 partners who have adopted BNB into their ecosystems. The Binance Coin now has some of the most versatile use cases, including paying for flights, hotels, or just coffee. They are by far the best performing top crypto asset in 2019.