In 2017, virtual currencies simply couldn’t be stopped. When the year began, the combined market cap of every cryptocurrency was just shy of $18 billion. But by year’s end, cryptocurrencies were worth a combined $613 billion. That’s a gain of more than 3,300% for you math-phobic folks. For a single asset class, it might just be the best year ever recorded.
This meteoric rise is often attributed to the excitement surrounding blockchain technology. Blockchain is the digital, decentralized ledger that underlies cryptocurrencies and logs all transactions without the need for a financial intermediary, such as a bank.
Bitcoin may have been the first to put the spotlight on blockchain, but Ethereum, the second-largest cryptocurrency by market cap, has really driven blockchain evolution. Through the Enterprise Ethereum Alliance, 200 organizations from around the world are testing versions of Ethereum’s blockchain in demos and small-scale projects across a variety of sectors.
Yet Ethereum is now valued at about $100 billion altogether. In other words, it’s far from being a hidden gem. At this point, it may be worth forgetting about Ethereum and turning your attention to cryptocurrencies that could have more upside potential.
Here are eight such cryptocurrencies for you to follow.
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