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Business News/ Markets / Cryptocurrency/  Not Bitcoin or ether, why these crypto tokens should be on your radar this year
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Not Bitcoin or ether, why these crypto tokens should be on your radar this year

Cryptocurrency ether's rival Solana token is known for its fast processing time and lower fees

Representation of Cardano, with its native cryptocurrency ADA, is seen in this illustration (REUTERS)Premium
Representation of Cardano, with its native cryptocurrency ADA, is seen in this illustration (REUTERS)

The world's largest cryptocurrencies such as Bitcoin, ether have been declining in the past few days, hit by investors weakening sentiment. Amid the volatility and popularity, crypto experts see the following tokens that one can watch out for this year.

“The bullish scenario is that this is the accumulation phase and the market is only going sideways and is just waiting for a spark to start a new ride. On the other hand, in the bearish scenario, many analysts think that the market is losing support and might start a new signal," said Sathvik Vishwanath CEO, Unocoin.

Solana

"Profoundly called the ‘Ethereum Killer’, This Scalable Proof of Stake-cum-Proof of History Blockchain made its mark in the space in just over 2 years. The tangible ground upon which Solana worked its way to the top enabled 65,000 Transactions per Second making Solana the fastest cryptocurrency to date along with a transaction finality of 13 seconds," highlighted Aayush Sharma, Co-founder, TechPay. 

As per Melbin Thomas, Co-founder, Sahicoin, its fast processing time and lower fees make Solana a loveable infrastructure. More than 400 projects are being constructed on Solana. “Solana is in the golden ration zone (61.8%) as per fib retracement. The token is at a strong support zone and can see a range between $115 to 130 before going for a high again." 

"Solana has been going multiple lower lows and failing to break the resistance. Currently in the daily candle charts, if the bulls can push and break 20 days EMA at $149.82, there is a high chance it will hit $163 of 40 days MA. The RSI is showing a good signal for buyers at below 40. Countering the bulls if the bears push down to support at $133, can be a bad picture for SOLUSD," suggested Unocoin's Vishwanath.

Cardano

"Capable of processing 257 transactions per second accompanied by transaction finality time of around 5-10 minutes, Cardano price has been developing because of the expected bullish increment with inside the coming days which lead to many buying $ADA," said TechPay's Sharma.

"The most interesting crypto to watch out for right now is undoubtedly Cardano. The news around the launch of SundaeSwap: a decentralized trading protocol on Cardano blockchain is going out, it is most likely going to be an uptrend for ADAUSD," as per Vishwanath.

Theta

"Theta is a web 3 video sharing protocol. It is disrupting the video streaming space currently dominated by YouTube in web 2. Theta is building a creator driven economy where creators are rewarded with Theta token for their contribution to the platform," said Melbin Thomas, Co-founder, Sahicoin.

Fantom

Fantom is a smart contract platform that intends to solve the scalability issues of existing public distributed ledger technologies. It is a Layer 1 infrastructure just like ethereum.

“The mission of Fantom is to make it easier to transact across multiple blockchains, and create an ecosystem which allows real-time transactions and data sharing at a low cost. Fantom also has one of the strongest communities in the crypto ecosystem," Sahicoin's Thomas highlighted.

The views provided here are only for informational purposes and should not be taken as financial advice.

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Published: 21 Jan 2022, 11:49 AM IST
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