Today we’re taking a look at a few coins to watch; EOS, Cardano [ADA], and Tron [TRX] have all exponential potential, so let’s dig further. The cryptocurrency market is unpredictable (understatement of the year). You never know when the next major regulation or hack will happen that causes major “FUD” and panic selling across the market. Panic selling has been the theme the last 90 days, as the total market has lost nearly $550 billion USD.
However, It seems the market has begun to stabilize but just like any market, correction is inevitable. Still, those get rich “quick” pump schemes have begun to fade and new investors have begun digging into the actual projects behind the coins they’ve invested in or are looking to invest in.
The third generation of blockchain projects has begun to emerge on the market far surpassing the first (Bitcoin) and second (Ethereum). These new projects have mastered scalability right off the bat and are able to process hundreds of thousands of transactions a second, once fully developed. The founders behind these projects have sat back and learned from the original projects and have solved the current issues with them. These new generation blockchains focus on scalability, interoperability (sidechains), sustainability, high assurance code, and peer-reviewed work.
Many of these projects will take years to fully develop but have recently started releasing their test and main nets of their projects. While most of these coins are still long-term holds, here are the coins to watch, as their upcoming developments have the potential to be huge. Disclaimer: Always practice smart investing and never invest more than you can afford to lose. Do your due diligence in educating yourself on each project and realize cryptocurrencies are startup investments and are high-risk. I do not personally hold any of the cryptocurrencies I’m writing about in this article.
Coins to watch: EOS
Just last week, a pre-release Alpha version of the EOS software, EOSIO Dawn 3.0, was initiated. Dawn 3.0 will only implement a fraction of the functionality expected in the full release version. The first version of its software, EOSIO 1.0, is set to launch in June of this year. At this time, all EOS ERC20 tokens will be swapped for new EOS native tokens and the EOS tokens will be used for computation power on the running EOS blockchain.
EOS has remained in the top 10 cryptocurrencies for several months and is currently the 6th largest cryptocurrency with a total market cap of $4.7 billion. With its Alpha just released and the first version of the product soon to come, adoption and ramp up is highly anticipated.
At press time, EOS is trading at $8.79 a coin, up 14.33%, in 24 hours. While $8 is nowhere near the record-high it hit of $18 back in January. It has slowly been on an upward trajectory the last 30 days – one of the many reasons EOS is one of the coins to watch.
Coins to watch: Cardano [ADA]
Cardano released it its SL main net back in late-September which they are considering it to be its “bootstrap” version named Byron. This is just the beginning of what the team at Input Output (IOHK), has in store for Cardano. Once Byron is completed, the team will move onto its next phase named Shelley, where the network becomes decentralized. Over the next 18 months, the work that will be done on Cardano specifically focuses on stability, interoperability, and governance. Throughout this development, the network’s protocols will increase in interdependence, complexity, and will use more exotic cryptographic primitives.
While ADA is years from full development, the transparency the Cardano team gives weekly on their roadmap is impressive. Cardano is the first blockchain platform that evolved out of a scientific philosophy and holds a strong research-first driven approach.
Check out the team’s roadmap, as well as the academic papers they’ve put out. These give even more credibility to the project making Cardano one of the coins to watch.
At press time, ADA is the 7th largest cryptocurrency by market cap trading at $0.195 a coin, up 20.15%, in 24 hours. Impressive for a self-funded bootstrapped blockchain project.
Coins to watch: Tron [TRX]
The Tron Foundation just released the test net to their Tron ecosystem about a week ago and will be launching their main net on May 31st. Both of these dates were bumped up as the Tron community began getting antsy as they were pre-product during their ICO which concluded back in September of 2017. The development team at the Tron Foundation decided instead of dripping out all the features they were wanting to, they would instead re-vamp their roadmap and prioritize most important features first. This was done and the Tron-loyalists are thrilled.
Since September, the Tron Foundation has been steadily building a strong Dev team and has recruited top executives from Alibaba.
Tron, in its earliest stages, seeks to become the decentralized platform that enables creators to have complete control over the distribution of their content. If you’d like to learn more about Tron, click the link below.
With just being pre-product TRX broke through the top 20 cryptocurrencies easily, which is impressive. Currently, TRX sits as the 13th largest cryptocurrency by market cap and is trading at $0.0383 a coin, up 6.24%, in 24 hours.
So there you have it! Three coins to watch. What you do next is up to you.
Featured Image: Canva