In cryptocurrencies, a new age is dawning, propelling these names higher in Q4. This year has been unstable for cryptocurrency. For the first half of 2021, cryptocurrency growth and excitement were at an all-time high. All things bitcoin and decentralized finance (DeFi) in general have exploded onto the scene and caused tremendous waves.
To be sure, there was some turbulence in the run-up, but the overall momentum was favorable. Markets, commentators, and investors of all stripes were all eager to learn more about cryptocurrency and what it meant for the future of finance. Many people joined in with the hope of catching the next great thing. Read also: Dangerous Crypto Mining Apps to Avoid
Pioneering forces in the bitcoin business were at the forefront of this tremendous acceptance. These pioneers will be addressed extensively and are most likely well-known. As they faded away, so did all other cryptos.
When things went wrong in May, it was due to a drop in cryptocurrency values. Throughout the summer, there were concerns about the larger sector. Many people wondered if cryptocurrency was on its way out. Others, on the other hand, saw the slump as an opportunity for younger cryptos as the pioneers began to show signs of wear and tear.
Whatever the case may be, the crypto market began August on a positive note. Going into the fourth quarter of the year, cryptocurrency appears to be entering a new age, so there’s something to be enthusiastic about. These coins, in particular, should soar to new heights:
1. Ethereum (ETH)
The first three cryptos on this list share two major characteristics. To begin with, each one provides digital materials on which platforms are created. Ethereum is a critical aspect of the crypto ecosystem, as everyone who is even remotely familiar with it knows.
Digital Assets Primer: Only the First Inning is the title of the report. This indicates that Bank of America anticipates tremendous growth in the cryptocurrency market. And if one major financial institution thinks so, it implies a lot more — and other major institutions are likely to follow suit.
As a result, institutional clients and more traditional investors are becoming more interested in Ethereum and other cryptos as investment opportunities. Increased interest leads to increased demand, which in turn leads to increased prices.
Ethereum has become a divisive cryptocurrency. Some say it is a flop, while others believe it will appreciate in value. The truth is that Ethereum continues to have a leading position in the creation of decentralized apps (dApps).
Others, including Cardano, are vying for the same spot. However, the future of Ethereum is highly dependent on when Ethereum 2.0 is launched and how much the platform is improved by the updates.
That is going to take some time. But, in my opinion, Ethereum will skyrocket in Q4 as a major name that traditional investors will flock to as more big banks express interest in cryptocurrency.
2. Cardano (ADA)
Cardano (ADA) coin with a digital background in blue and orange.
Cardano, like Ethereum, has a number of similarities. Cardano and Ethereum are viewed as competitors in general, with many anticipating that Cardano will one day dethrone Ethereum.
You can see the appeal when you consider that Ethereum is worth over $3,400 and Cardano is at $2.11. Cardano’s value could skyrocket if it overtakes Ethereum in the near future.
Of fact, no one can predict how much Cardano — or any other cryptocurrency — will cost. Because there are so few antecedents in crypto, no one has any acceptable model by which to reliably forecast future prices.
Cardano, in any case, has been generating headlines in recent weeks and months. Smart contract capability was been added to the platform. The Alonzo hard fork begins a new chapter in the life of this Ethereum contender.
Cardano was chastised for not launching smart contracts on its platform.
3. Binance
Binance Coin completes the list of three cryptocurrencies featured in the Bank of America research.
Binance is a popular cryptocurrency exchange that has developed its own coin, Binance Coin. The cryptocurrency has a one-to-one exchange rate with the US dollar.
Binance Coin appeals to a wide range of people for a variety of reasons. However, a narrative underlying its surge in Q4 goes something like this: As demand grows as a result of additional stories confirming Binance’s legitimacy, potential investors will begin to investigate the exchange, coin, and platform further.
Source: Nyscinfo