The cryptocurrency sector has been on fire lately, with most top cryptocurrencies establishing new all-time highs (ATH). Bitcoin finally broke the well-awaited record of $100K, dragging many other cryptos up with it – some of which may have been left in the dark for the past period. All sorts of investors have found the crypto market a go-to lately, mostly heartened by the nearing and succeeding crypto-friendly new U.S. administration. As a result, the world has seen improvements in the prices of most cryptos, which you can, too, keep an eye out for if you want to break into the market.
Wherever you may position as an investor, a thing is likely valid for you. Maybe you want to diversify your portfolio, as variety among assets is dubbed as one of the best techniques to reduce the risk of losses. When an asset drops, you’ll most likely have another one in your portfolio that climbs. For instance, if the crypto you placed the highest bets on trembles, you may aspire to the momentarily hearty Toncoin price to offset your losses, or any other crypto, for that matter.
This being said, it’s time we looked at three of the best cryptos other than Bitcoin and Ethereum, for chances are that you already have an idea of the market leaders.
Toncoin
Toncoin, the brainchild crypto of the Open Network project, was originally created by the crew managing the famous messaging application Telegram, where cryptocurrencies found a breeding ground for network enthusiasts and experts in the domain. Investors were quick to make sense of this token and flip over it, with the rapid spike in popularity standing as proof. Valuing a bit over $2,2 by the 2023 finals, the asset managed to climb in price starting in March of this year. It established a heartening all-time high of $7.252 in April, followed by a new all-time high of $8,235 in June. By press time, the currency’s value revolves around the $5 mark, attempting to reestablish and move past its ATH. The currency is up by around 130% from last year, so if it keeps moving this way, investors who choose to stick with it in the long run might see decent returns.
Noteworthy, with its current market cap of more than $12BN, the asset is well positioned in the middle of the list of the top 30 largest cryptos worldwide. It was expected that the crypto would change hands in a trading route between $6.43 and $12.75 at the last year’s end, meaning that the price would’ve rised by 50% compared to press time’s prices. This would’ve happened only if December’s mean price could have hit the $9.5 mark. Simply put, possessors could’ve cashed in on profits of 100% if this optimistic scenario came to life, but room for improvement and hope still exists.
Dogecoin
The rundown wouldn’t be complete without the cryptocurrency that made history in the industry and brought new waves of investors to the table, namely Dogecoin. With its native crypto DOGE, the asset is celebrated as the birther of meme coins, a category of cryptos similar to altcoins, utility tokens, exchange tokens, privacy tokens, and so on. Its astronomical market cap of $50.6BN by press time positions it behind Binance Coin, the cryptocurrency issued by the largest crypto exchange to date and used to pay for activity fees. At the same time, a lot of activity has been registered lately thanks to the recent crypto rally. The asset now revolves around the $0.335 mark, endowing it with the seventh place in the CoinMarketCap ranks.
Dogecoin might pass the test of time thanks to the ambitious community backing it and contributing to the endless threads you may be familiar with from social media. Many investors place high bets on Dogecoin thanks to its online notoriety, which is helped by its many real-world applications. The asset entered the top ten cryptos by market cap in 2021. If this cryptocurrency draws you, remember that it’s best to stay tuned with everything the biggest crypto influencers do or say. A few words from Elon Musk, Tesla CEO and X platform owner, and the crypto’s price can reach new heights; or, fall. This subjectiveness to fluctuate depending on the industry’s heavyweights is common among all cryptos, more or less.
Sui
SUI is the first-of-its-kind layer-1 decentralized ledger and smart contract platform, built to expedite the process of buying, sending, and securing digital assets. SUI can be bought with a credit or debit card, and exchanged on designated online platforms. As the native token of the blockchain, Sui tokens can be used as payment for network transactions. You need to have and employ SUI to perform smart contracts and explore the ecosystem’s applications, which makes the token a core element of the blockchain’s procedure.
SUI isn’t exactly the type of crypto to make the headlines, but it managed to breach a new ATH of $4.24, bolstered by a rise in trading activity during Thursday’s Asian session. At the time of writing, one SUI is worth around. $4.3 Intuitively, the asset has been trading more actively in the past few days – a performance that helped the price evaluate to this zenith. If you want to invest in it, create a good investment and trading strategy and stick with it, prioritizing constant monitorization.
Stay tuned
Given the highly volatile nature of cryptocurrency, it’s essential to monitor market moves closely when you invest in it. The crypto price you may be relying on the most can fall overnight, leaving you confused about what to do next.
Importantly, crypto price fluctuations can also be a good thing. This trait entails that one day, your crypto’s price may rise again – or fall. Hopefully, you’ll do your homework and stay posted never to be taken aback by a surprising turn of events.
