New Cryptocurrency Coins to Check Out (2023)
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Again, due to the drop in the price of cryptocurrencies, there are not many new coins to catch the eye. However, these new cryptocurrency coins some of which are already in existence and others which were recently added look promising.
Even though the Ethereum coin has been an alternative to bitcoin since it was launched in 2015 and has grown to become the crypto with the second highest capitalization after bitcoin It currently trades at around $1,300 per ETH, its blockchain has been undergoing some changes which have allowed it to be more compatible with not just bitcoin, but with other web 3.0 applications like buying virtual real estate, NFTs, and games. Because the new ETH platform relies on proof of stake rather than proof of work, which makes it attractive for crypto miners since it means less energy consumption, the more consumers use its assets the more attractive the coin.
Tether is a stablecoin that pegs its value to the US dollar, which means it is unlikely to experience sudden rising and falling (which means your investment remains stable). Tether has a market capitalization of $68, 461, 359, 437, and is currently trading at $1. It may not look like much, but it has a lot of potentials to increase in the future.
Binance currently trades at $272 and has a market cap of $44billion. It is also another of the coins pegged against the US currency which makes it another of the stablecoins that you can trade. What is even better is that it has the potential to rise when the US stocks rise, which makes it a stable investment to commit money to.
BNB is regarded as the largest cryptocurrency in trading volume. The reason why it is attractive is that like Bitcoin, it keeps a hard limit on the number of its coins in circulation and also on its new coins released. What also makes it good crypto to trade is that it has two blockchains, which ensures that it doesn’t run into the kind of bottlenecks that other blockchains run into.
Binance is set to launch Bifinity, a payment platform that will accept fiat to cryptocurrency, exchanges and also allow merchants to accept fiat money for digital assets. It absolutely will become one of the most valuable altcoins in the coming years.
One of the reasons why Cryptos like bitcoin and Ethereum consume so much energy is their proof of work-based blockchain. The Algorand crypto uses a “proof of stake” blockchain which can do 1300 transactions per second (TPS), instead, which doesn’t need the kind of power-consuming ASCIIs. Algorand stands out due to its green credentials
Furthermore, the Algorand creators claim that all the transactions on the coin’s blockchain will run a smart contract that will offset the transaction’s carbon footprint without the user needing to perform any action.
The Algorand coins also use part of its network fees to buy carbon credits through an app called Climate trade.
Tectum is one of the fastest-rising new cryptos, and that makes it one of the most attractive to invest in. it is the only Blockchain Network to employ the Proof-of-Utility protocol. The protocol optimizes data distribution and allows the blockchain nodes to verify 1 million digital transactions per second. Which makes it the fastest network by far. With this feature likely to engender several use cases Tectum is a cryptocurrency you should get into now.
