It’s hard to identify the next big hit in the sea of cryptocurrencies. If you’d like to learn about three promising crypto projects, you are on the right page. You’ve probably heard about the HBAR vs ALGO comparisons, but we decided to add XVG to the mix. Here’s some useful info about these three tokens to help you settle on the next investment!
Explaining Verge
At its launch in 2014, Verge became known as DogeCoinDark. Because of the existing DogeCoin, Justin Valo decided to rename the token to avoid confusion in 2016.
Valo indicates that he’s a passionate programmer that owns a security company. He started working on Verge as a side project with the desire to create a privacy-focused currency that outperforms competitors like Monero and Bytecoin.
Verge uses multiple security features to improve privacy. It masks IP addresses and anonymizes traffic by routing it via the Tor network. The option for the sender to create a one-time wallet address for the coin receiver also adds to privacy. Although this is an intriguing solution, it seems like Verge is still looking for ways to become a mainstream platform.
XVG Token
XVG is currently valued at $0.0027, which puts it out of the top 400 currencies in the crypto ranking. It has a market cap of over $40 million and more than 16 billion circulating tokens.
In 2015, XVG cost only $0.000014. It progressed well over the years and reached $0.2249 in December 2017. The interest went down in the coming years, and 2022 was tough. But there are some recovery signs for XVG and the overall crypto market.
Price predictions by DigitalCoinPrice state that XVG could stabilize around $0.005 before 2023 ends. In two years, it could exceed $0.009 and set a new all-time high in 2028. By 2032, the value could reach $0.5.
Explaining Hedera
Hedera is a decentralized public ledger that offers a tempting economy to create dApps. It uses the aBFT consensus algorithm to secure fast transactions. The ledger can execute approximately 10,000 transfers per second while keeping the fees lower than Ethereum.
The Hashgraph used by Hedera applies a consensus system where users must reach an agreement on the transaction order. It guarantees a secure environment, while smart contracts allow the building of dApps. The platform also has file storage, with options like setting file expiration and proof of deletion.
HBAR Token
HBAR is a token with multiple uses on this network. It serves for fees, network services, and in-app transactions. You’ll find it on major exchanges, and its current value is $0.055. The market cap is more than $1.5 billion, putting the coin at the top #34 in the crypto rankings.
The value of HBAR on the first day of trading in 2019 was $0.091. It enjoyed some good days, especially during 2021, when it reached $0.5. After a turbulent year in 2022, the coin steadily holds the mark at the price ≈ of $0.05 in 2023.
Future predictions by DidigitalPriceCoin are encouraging since they put HBAR at over $0.13 by the end of the year. In the next three years, it could exceed $0.27 and go beyond $1 by 2032.
Explaining Algorand
Algorand features an advanced blockchain infrastructure that can handle thousands of transactions per second. Its idea is to offer a more scalable and secure solution than its competitors while maintaining decentralization and sustainability.
Silvio Micali — the winner of the Turing Award in 2012 — is the platform founder. Algorand uses a custom virtual machine and signatures. It utilizes the proof-of-stake protocol and keeps transaction fees fairly low. Algorand announced a bridge to Ethereum in 2022 to attract new investors and increase liquidity.
ALGO Token
ALGO’s current price is $0.19, which is just enough to put it in the top #40 digital tokens. The coin’s market cap is $1.3 billion, but its trading volume to market cap ratio has been fairly low recently.
The initial coin offering in 2019 put ALGO’s price at $3.2. However, over time, the coin began to fall in value, and in 2020, it cost $0.13. The coin hit several rough patches, but recent trends have shown there’s hope for recovery.
Predictors from DigitalCoinPrice believe ALGO could reach $0.4 by the end of 2023. In 2028, it could exceed $1. By 2032, the coin could be worth over $3.
Final Note
All three projects could have a promising future, especially if the crypto industry continues booming in the years to come. Based on the above-mentioned forecasts, the HBAR has the highest potential. Even if the market goes down again, you can always convert XVG to BTC. Ultimately, the decision is up to you, so analyze all information from this guide and other sources to come up with the best possible trading strategy.
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