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Bitcoin has become a hot topic in the press in recent months. The historical explosion of its share price has allowed Bitcoin to make itself known and to be remembered by investors who are reluctant to invest in crypto. Since 2020, the price of Bitcoin has been following an episode of strong growth, described as a bull run in crypto literature.
Since mid-November 2020, the price has almost tripled! Recently, the $50,000 resistance level has even been broken! Yet some cryptos have done better than Bitcoin in the same time! Less well known, they are nevertheless a good investment solution.
Dogecoin is a crypto that has been in the news very recently, in January 2021. Indeed, it is a crypto supported by Elon Musk. In January, he sent a few tweets to praise the merits of Dogecoin. Thus, he did not hesitate to call the Dogecoin “the cryptocurrency of the future”. He also announced that he had bought Dogecoin to ensure “his son’s future”.
The investors’ reaction was immediate. The capitalization of Dogecoin surged, propelling Dogecoin to 12th place in the world. In the last three months, the price of Dogecoin has exploded, increasing by more than 2,300%. A great performance when you consider that the Dogecoin project started in 2013 as a joke!
Cardano is another cryptocurrency that has seen its share price soar in recent months, with an increase of more than 750%. Unlike Dogecoin, this upward trend is not due to a publicity stunt. Several significant events have caused an increase in the demand for Cardano, which has contributed to the rise in its price.
For example, in July 2020, the developers of Cardano set up the Shelley project. Shelley is a staking protocol that allows to increase the number of nodes in the network. With more nodes, the Cardano network is more decentralized and security is enhanced. The scalability of the Cardano has increased from 2,000 transactions per day to more than 25,000!
Cardano’s price also received a significant boost when the company Grayscale announced a fund with this crypto.
The third successful crypto is Stellar, with a price that has increased by more than 550% in the last three months. Stellar owes its success to the performance of its blockchain, which allows international payments to be made very quickly. To operate, the Stellar network uses the Lumens coin (XLM).
An announcement in January 2021 also contributed to Stellar’s good performance. Indeed, the Ukrainian government announced that it would work closely with Stellar to create a central bank for digital currencies.