With the summer sun now slowly setting, it’s time to cast our eyes over the final few months of 2021. There’s plenty for crypto traders to be excited about at the moment. Today, we’re going to run down our top 3 cryptos to keep an eye on for the remainder of the year. Once we’ve covered that, we’ll dip into some of the key fundamental events happening this week. Shall we?
Cryptos to look out for
We’re not going to focus on Bitcoin (BTC), Ethereum (ETH), Cardano (ADA). These guys are already living their best lives, with monumental daily volumes.
Instead, we’re going to look at some of the newer/smaller cryptocurrencies which still offer the potential for large returns (and also losses).
Note: all trading carries a huge amount of risk. The following should by no means be considered as investment advice. You should always remember the golden rule of trading: only invest what you can afford to lose.
Now that’s out the way, let’s get to it!
#1 Algorand (ALGO)
Algorand is a blockchain-based network that uses its native ALGO token for transactions. It powers smart contracts and enables developers to build and launch NFTs and tokens.
This crypto markets itself as the first pure proof-of-stake (POS) blockchain in the world. That puts it in direct competition with market supremo Cardano (ADA) (which is booming, by the way) and the similarly popular Tezos (XTZ).
The technology behind the crypto supposedly guarantees security, scalability, and built-in privacy. All the good stuff as far as digital transactions are concerned.
ALGO is currently 70% below its peak value and many speculative investors are eagerly awaiting what comes next…
Price on 01.01.2021: 0.35 USD
Price on 05.09.2021: 1.30 USD
YTD % change: +271%
#2 IOTA (MIOTA)
As the first 3 letters of its name might indicate, IOTA caters to the Internet of Things (IoT). That fusion of crypto and IoT is what has really propelled the crypto forward over time. The company claims that its “the first distributed ledger built for the “Internet of Everything” — a network for exchanging value and data between humans and machines.”
Put a little more simply (maybe!), IOTA is a distributed ledger designed to record and execute transactions between machines and devices in the IoT ecosystem. Its cryptocurrency is known as mIOTA.
IOTA first launched 5 years ago, so you could say it’s been around the block(chain) a fair bit.
MIOTA has had a very positive 2021 so far. Like ALGO, many investors are looking at the previous high of 5.36 USD (in 2017) as a sign of where the crypto can still go. It’s this token poised for a comeback?
Price on 01.01.2021: 0.30 USD
Price on 05.09.2021: 1.75 USD
YTD % change: +483%
AMP is a cryptocurrency that uses the Ethereum blockchain to make payments on the Flexa Network.
The crypto is known as a digital collateral token. Holders of AMP can instantly receive verifiable assurances for any kind of value transfer, e.g. converting to fiat, making digital payments, taking out loans, and initiating property sales, among other things.
The crypto has come on leaps and bounds in 2021, as you can see. The almost limitless range of potential use-cases for the crypto, combined with its very low price point of entry are making many investors turn their heads. This is definitely one to watch.
Price on 01.01.2021: 0.0067 USD
Price on 05.09.2021: 0.0572 USD
YTD % change: +753%
What’s on the trading agenda this week?
A busy week lies ahead for the currency markets. Here are all of the top events to take note of.
No major events scheduled.
● AUD — RBA Interest Rate Decision
● EUR — GDP Growth Rate QoQ and YoY 3rd Est (Q2); ZEW Economic Sentiment Index (SEP)
● JPY — GDP Growth Annualised Final (Q2)
● CAD — BoC Interest Rate Decision
● CNY — Inflation Rate YoY (AUG)
● EUR — ECB Interest Rate Decision; ECB Press Conference
● EUR — DE Inflation Rate YoY Final (AUG)
● GBP — GDP 3-Month Avg (JUL); GDP YoY (JUL)
● CAD — Employment Change (AUG); Unemployment Rate (AUG)
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The Contentworks team