Altcoins have been doing really well lately, they are pumping again matter of fact and also creating big profit avenues for investors. Apart from Ethereum, there are other several altcoins which have massive profit potential this year. They are: Polkadot, Synthetic, Cardano, Aave and Chainlink.
Polkadot is currently trading at about $9 (USD) per token with a market capital of over $8.61B (USD). It was created by Gavin Wood, one of the co-founders of Ethereum. He also invented Solidity, the native programming language of Ethereum. Polkadot is aiming to be sort of like the internet of blockchains with an aim of connecting blockchains seamlessly and allowing them to work together. It connects blockchains together in a single network, allows them to process and exchange data while on a secured platform. Polkadot is also on the rise to become the number one crypto for staking based on it's volume of staked tokens. Over 63% of DOT token supply is locked in staking wallets.
Synthetix Network Token (SNX) currently trading at $15 (USD) with a $1.6B market capital . While Bitcoin is going after digital gold, the store of value market is roughly about $10 trillion, Synthetix is aiming and revolutionizing the Derivatives market which at the moment is estimated to be valued at $1 Quadrillion. It is a software which allows users to buy new crypto assets that mimic both real world assets (e.g USD) and crypto assets like Bitcoin. Optimism Mainnet is expected to début Synthetix by January 15th.
Cardano ADA is another crypto which is on fire and looks like a likely competitor for Ethereum. Cardano is good for long term investment. Cardano has a value of $9 billion dollar market capital and has chances of getting to $1 per ADA before the end of 2021.
Aave another "hot shot" in the crypto market is currently trading at $138 per token. It is a decentralized system which allows users to lend, borrow and warm interests on crypto assets without an intermediary. Aave at this rate could be used to give average people financial freedom. It has also raised $25m to bring DeFi to institutions.
Last but not the least is Chainlink. It currently has a market capital of $6B with 1 link token trading at about $15. Chainlink provided a network of decentralized oracles for other blockchains to link enabling them to access outside information. Chainlink is currently the most widely adopted Oracle and o chain data source for cryptocurrency.
