Cryptocurrencies

Cryptocurrencies Not on the Top 100 List, But Worth Keeping on the Radar

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When it comes to cryptocurrencies, Bitcoin and Ethereum have the lion’s share of investor interest. And, while tokens from other projects like Cardano, Pancakeswap, and Solana are slowly gaining attention, there are still thousands of other coins that investors are almost entirely overlooking.

Many decentralized projects have coins with broader functionality or utilities that could shake things up in the world of finance, even though they are currently available at a low price.

Take Shiba Inu, for example. This once unknown crypto has seen a price increase of 40 million percent in one year. There are many coins that are not among the top 100 coins based on their market capitalization, but have the potential to thrive.

Here is a list of five such coins you should watch out for:

Nervos Network: CKB (Ranked #138 on coinmarketcap)

Nervos Network’s native coin, CKB, has shown signs of returning to growth after a steep dip in 2022. What makes CKB unique is that it has a two-layer architecture. Its Layer 1 proof-of-work chain focuses on decentralization and security. And the high-performance Layer 2 chain focuses on scalability, or its ability to grow.

Layer 2 of the Nervos blockchain architecture allows developers to build universal applications that can run on different blockchains. In October last year, Nervos launched the Ethereum Force Bridge, connecting the Nervos blockchain to the Ethereum blockchain. This allows users to interact with both ecosystems and facilitates token liquidation.

According to Messari, a crypto research platform, CKB was in the list of the ten most common assets held by crypto funds in the third quarter of 2021. The coin is currently trading at $0.014 with a market capitalization of $423.2 million. on coinmarketcap.

Luckyblock: LBLOCK (ranked #2856 on coinmarketcap)

Luckyblock is a crypto-lottery platform. It was built with the aim of creating a “global lottery platform” where participants would have a better chance of winning a jackpot than traditional lottery systems.

On Luckyblock, all lottery functions are governed by smart contracts to ensure the system is fair, well-balanced, and free from the influence of any single entity. Distributing jackpots is also more convenient, as they can be made instantly, unlike fiat currency.

Within the first 48 hours of launch, the LBLOCK token surpassed a market capitalization of $100 million. It is one of the few coins to be so successful when launched, according to an article by Livemint.

It is currently trading at $0.0091 and has a market cap of $296.9 million on coinmarketcap.

Ergo: ERG (Ranked #380 on coinmarketcap)

Ergo aims to provide an efficient, secure and easy way to implement financial contracts, a feature that will be useful and viable in the long run. The blockchain also uses a non-interactive crypto mixer called Ergo Mixer. It secures user privacy by sending tokens in batches and mixing them. This makes tracking user transactions more complex and provides users with a higher level of privacy.

Like Ethereum, Ergo is a programmable blockchain where developers can easily create decentralized applications. But one key aspect where Ergo holds the edge over Ethereum is transaction fees. In the Ergo network, transactions are gasless, which means that users do not have to pay any fees for the transactions they make on the network.

An article from The Ascent states that Ergo’s native token, ERG, gained over 1,800% in 2021. The gain was twice as high as most Ethereum competitors like Cardano and Solana.

The coin token is currently trading at $3.13 and has a market capitalization of $100 million, per coinmarketcap.

Nano: XNO (ranked #175 on coinmarketcap)

Nano’s native token, XNO, can facilitate virtually instant payments without any fees. The project was created to solve the problems faced by traditional financial institutions and modern cryptocurrencies.

Nano is significantly different from other cryptocurrencies. In the Nano network, each address has its own blockchain (transaction ledger) and network users provide the computing power to verify their own transactions. This allows transactions to be gasless, creating cryptocurrency with no fees.

Nano is also very environmentally friendly. Unlike Bitcoin, Nano does not use mining to verify transactions and add new blocks to the blockchain. This is a huge advantage given the energy levels used during the extraction process.

XNO is currently trading at $2.11 with a market cap of $280.7, per coinmarketcap.

Flux: FLUX (Ranked #153 on coinmarketcap)

Flux is an upcoming web 3.0 piece that promises all the features of Amazon Web Services, but in a decentralized environment. Amazon Web Services offers wireless cloud computing solutions to a number of companies, and Flux is looking to do the same.

Flux presents itself as a blockchain solution as a service offering interoperability and decentralization. It uses Fluxnodes, a network of nodes that lend computing power to other companies and services. In exchange, node operators receive Flux tokens as a reward for their services.

Since October, the coin has risen over 450%, reaching an all-time high of $4.17. In addition to this, Flux has announced a partnership with the well-known graphics processing unit (GPU) manufacturer, Nvidia. This is a piece to watch in the coming months.

FLUX coin is currently trading at $1.58 with a market cap of $358.3 million on coinmarketcap.