Altcoins are cryptocurrencies other than Bitcoin. They are often referred to as “alternative coins” and are typically used to complement Bitcoin’s role in the cryptocurrency market. Altcoins typically provide new features, solutions, and use-cases that Bitcoin does not provide.
Top-Performing Altcoins in 2021
The year 2021 has seen some of the biggest gains in the cryptocurrency market to date. Bitcoin has been at the forefront of this bull run, but several altcoins have also seen immense growth. Here are some of the top-performing altcoins of 2021.
Ethereum is the second-largest cryptocurrency by market capitalization and is the leading platform for decentralized applications. It has seen a year-to-date gain of over 600%. Ethereum’s recent rally is likely due to institutional adoption and the upcoming launch of Ethereum 2.0.
Cardano is a smart contract platform that aims to provide a more secure and scalable blockchain solution than Ethereum. It has seen a year-to-date gain of over 500%, likely due to the upcoming launch of Cardano’s Shelley upgrade.
Dogecoin is a meme-based cryptocurrency that was created as a joke. Despite its humble beginnings, Dogecoin has seen a year-to-date gain of over 15,000%, largely due to the support of high-profile investors and celebrities.
Polkadot is a blockchain platform that aims to provide interoperability between blockchains. It has seen a year-to-date gain of over 400%, likely due to institutional adoption and the upcoming launch of its parachain feature.
Litecoin is a Bitcoin-like cryptocurrency that was created to provide faster and cheaper transactions than Bitcoin. Litecoin has seen a year-to-date gain of over 500%, likely due to the increasing demand for its low transaction fees.
Altcoins are a key component of the cryptocurrency market and have seen immense growth in 2021. Ethereum, Cardano, Dogecoin, Polkadot, and Litecoin have been the top-performing altcoins of the year, with each one seeing impressive gains. As the cryptocurrency market continues to grow, so too will the value of these altcoins.