The crypto market is back in an uptrend and most cryptocurrencies are making massive gains again. Ethereum in particular has experienced a massive increase in recent weeks. Bitcoin and Ethereum appear to have solidified at the top of cryptocurrencies. But which cryptocurrency can take third place behind them in the future? In this article, we look at the cryptocurrencies that could take third place behind Bitcoin and Ethereum in the future.
Which Cryptos are the BIGGEST?
The world’s largest and most well-known cryptocurrency is Bitcoin. It was the first decentralized currency on the market and set standards for the entire cryptocurrency space. Bitcoin was thus at the top of the cryptocurrencies by market capitalization at all times. This top position should also last for at least several years.
Ethereum has been number 2 in the crypto market for several years. However, its smart contract functions have turned Ethereum into a basis for decentralized applications and thus into a huge ecosystem. In the years to come, this position in the market should be strengthened significantly.
Can another Cryptocurrency take the Top spot?
Bitcoin and Ethereum have been at the forefront of the market for years. There are various reasons for this. Bitcoin is by far the most well-known cryptocurrency in the world. It is now one of the most popular investment objects for both retail and institutional investors.
Ethereum has set itself well ahead of other competitors in the dApp space as the first blockchain to offer smart contracts. With the upcoming Ethereum 2.0 update, Ethereum should further extend its leading position in decentralized applications such as DeFi and NFTs.
At the moment, it seems very unlikely that any other cryptocurrency will be able to catch up with Bitcoin and Ethereum in terms of market cap. Furthermore, no other cryptocurrency should reach the importance of these two heavyweights in the next few years. But which cryptocurrency could rise to third place among the coins?
Which Cryptocurrency will be number 3 behind Bitcoin and Ethereum?
In recent years, some cryptocurrencies have established themselves among the most important and valuable coins. Some of these cryptocurrencies like Cardano have established themselves at the top through a long-term process. Other projects like Solana or the Shiba Inu suddenly came to the forefront of cryptocurrencies.
In the following, we would like to see which cryptocurrency has the greatest potential to establish itself in third place among cryptocurrencies behind Bitcoin and Ethereum in the long term. We thus present the best candidates who could take third place behind Bitcoin and Ethereum in the long term.
Cardano is a project that has existed since 2017 and has been doing excellent and sustainable work in further development for years. The Cardano blockchain will be further developed according to scientific standards. Due to this long-term and academically oriented development, Cardano is probably one, if not the most technically mature blockchain on the market.
Cardano is also known as the “Ethereum killer” because the blockchain can take over the functions of Ethereum and, unlike Ethereum, combines scalability, decentralization and security. Cardano has massive potential, especially in the coming months, as the scalability of the Cardano blockchain is now set to be massively increased.
Solana is a very young cryptocurrency that experienced massive hype in 2021. This was mainly due to the fact that Solana is a blockchain that has extremely high transaction speeds and thus high scalability. The basis for this is the proof-of-history consensus mechanism.
Like Cardano, Solana has huge potential. However, Solana has had to deal with network crashes in recent months. But if issues like security and performance can be gotten under control at Solana, the cryptocurrency has an extremely positive future ahead of it.
Binance Coin, or BNB for short, is the cryptocurrency that has ranked third among cryptocurrencies for months (if we exclude the stablecoins in the market). It is the token of the world’s largest crypto exchange, Binance. This fact alone explains the current status of BNB as number 3 behind Bitcoin and Ethereum.
The Binance Coin should also play an extremely important role in the coming months and years. The number of transactions and users on Binance should continue to increase. Therefore, BNB remains relevant. But the potential is not as high as with the alt-coins mentioned.
There is a good reason why we as investors can expect XRP to become number 3 behind Bitcoin and Ethereum. Because in recent years, the legal dispute between Ripple and the American stock exchange regulator SEC has been extremely difficult. The gains in the last bull market were therefore limited.
As a partner of numerous banks, XRP is constantly evolving and becoming more and more popular. The network increases massively in value. But only a single event ensures that the price is damaged. If this is solved, XRP could actually establish itself in third place in the long term. After all, in 2017 XRP was in second place behind Bitcoin for a long time.
Dogecoin / Shiba Inu
In an alternative world, a so-called meme coin can become number 3 behind Bitcoin and Ethereum. These are fun currencies that are simply meant to entertain the user. But there is alternatively a possibility that one of these coins will end up in 3rd place in the valuable coins behind Bitcoin and Ethereum in the long term.
What will this cryptocurrency do in the future?
A cryptocurrency that can establish itself in third place behind Bitcoin and Ethereum should be a project that achieves a status among investors that they can no longer do without an investment. The cryptocurrency is exploiting its massive potential and has a clear, sustainable benefit.
At the moment it is difficult to foresee which cryptocurrency this may be in the next few years. Cardano seems to have the greatest potential since this blockchain can theoretically even replace Ethereum. But the other coins mentioned also have massive potential and could become number 3 in the future.