- As every year, the question arises as to which Altcoins have the greatest potential besides Bitcoin.
- CNF takes a look ahead and has selected its top 5 Altcoins for 2020.
The Christmas season is not only the end of the year, but also the beginning of the time of forecasts for the coming year. In the crypto-community the question is which coins have the biggest potential for the coming year. In this article we therefore want to take a look at which old coins are most promising in 2020.
However, as the Crypto News Flash Team we would like to point out that the following information cannot be regarded as investment advice. We only share our thoughts about the crypto market. Readers are invited to form their own opinion on the contents of this website and to conduct their own research.
In order to select the top 5 Altcoins in 2020, we have tried to take into account all the important factors that can significantly influence the price of a cryptocurrency. From our point of view these are: acceptance, demand and price. The most important point from our point of view is the degree of acceptance.
Only if the project creates numerous use cases, for example through new partnerships, the price is likely to increase. In this respect, it should also not be ignored that news are a major price driver in the crypto market. Ultimately, acceptance but also demand will increase through the creation of new use cases. The price plays a role for many private investors in as much as “cheaper” coins are more affordable. New investors in particular start with smaller amounts and prefer the so-called “penny” coins.
Based on these factors, we have selected our top 5 Altcoins for 2020.
Basic Attention Token (BAT)
The Basic Attention Token (BAT) is trading at around 0.17 USD at the time of writing and could benefit even more from the growth of the Brave Browser in 2020 than in 2019. At the beginning of December, the developers of the Brave Browser reported an increase in active users to 10.4 million. This corresponds to a tripling of active users within one year.
The Brave Browser aims to revolutionize the online marketing industry and build a decentralized ecosystem that brings users, publishers and advertisers together and distributes the monetization of advertising revenue through the Basic Attention Token (BAT). If the number of active users, especially the number of publishers and advertisers, continues to grow as rapidly as it did in 2019, when a 12-fold increase to 340,000 publishers was achieved, the BAT price could benefit greatly.
VeChain already caused a stir in the last two months. For a long time the Singapore based project flew under the radar of many investors. In recent months, however, the project has received increased attention, and not without reason. Since the mainnet launch of VeChain Thor blockchain, the team has been able to establish more renowned partnerships than any other project in the crypto market.
VeChain Thor blockchain’s use cases focus on digital business transformations in various industries such as fashion, wine, automotive, food safety, carbon emission reduction and agriculture. Partners include global corporations such as DNV GL Group, PriceWaterhouseCoopers (PwC), the National Research Consulting Center (NRCC) from China, DB Schenker, Kuehne & Nagel, BMW Group and Renault.
Most recently, VeChain has entered into a cooperation with the Anhui Tea Industry Association in China, under which up to 670 Chinese companies from the tea industry can use VeChain Thor Blockchain.
So why could the big breakthrough come in 2020? China’s head of state, Xi Jinping, gave a speech in October 2019, which was widely acclaimed in the crypto community, in which he called for a major blockchain initiative. As the VeChain Foundation pointed out in a recent blog post, the focus is on the creation of value through the blockchain. VeChain corresponds to this standard, as it was stated in the publication:
The cooperation between VeChain and the Anhui Tea Industry Association is in line with the government’s goal to increase the competitiveness of all stakeholders in the industry through blockchain technology.
In this respect, China could become an important factor for VeChain if further use cases and partners in China will follow.
The cryptocurrency Cardano (ADA)created by Charles Hoskinson definitely belongs in the “penny coins” category at a current price of USD 0.03. Despite the low price, Cardano has great potential. This became apparent not least a week ago when the Incentivized Shelley testnet with stake pools was launched.
Within the first 48 hours, 240 stake pools were formed and over 5.4 billion ADA, about 17 percent of the total supply, were delegated. The launch of Shelley on mainnet is expected to take place in 2020. Then the participation in the Proof of Stake is likely to increase significantly, especially as exchanges such as Binance will also offer staking to their users.
Furthermore, Cardano has announced a major marketing campaign for 2020, which will be developed by the well-known agency McCann Dublin, which has already worked with Microsoft, LinkedIn and Norwegian Airlines, among others.
Chainlink was already the biggest winner within the top 40 in 2019, as CNF analysed. With a price increase of 586 percent (until 15 December) since the beginning of the year, the LINK price recorded substantial growth. In June 2019 it was announced that Google is working on a project using Chainlink.
In detail, the tech giant wrote that it is working on applications that store cloud-generated data on a blockchain. To integrate the external data into the blockchain, the Google project used Chainlink. Chainlink also has SWIFT, Oracle, Gartner and IC3 as partners. In October, Intel, HyperLedger and EntETHAlliance joined the project to promote blockchain adaptation in the enterprise sector.
But why does Chainlink have great potential in 2020? In 2020, the topic of getting external data into the blockchain will become even more important. With its Oracle technology, Chainlink is well positioned to forge further strong partnerships and integrate into new services.
Even though Ethereum as the second largest cryptocurrency by market capital is certainly not an insider tip and with a current price of around 130 USD is also not a bargain, Ethereum has a big year ahead of it. After slightly less than five years, Ethereum will enter the “Serenity” phase (or Ethereum 2.0). Even though the roadmap below (from May 2019) is no longer quite up to date, as the Istanbul hard fork and the Beacon Chain (Serenity Phase 0) have been somewhat delayed, it gives a good overview.
The launch of Ethereum 2.0 could be a strong factor in the price of ETH. Already in 2019, Ethereum has shown that it is still the number 1 smart contract platform. With the Ethereum Enterprise Alliance, numerous strong partners and global corporations stand behind the project. For example, Microsoft launched a token-based reward program for the Microsoft Azure platform at ETH Blockchain in early December.
As Forbes reported, Ernst & Young, one of the world’s largest professional services companies, is investing in the development of data protection tools for the Ethereum ecosystem. The “Nightfall” project is, as Forbes writes, “a great example of how one day all companies will use the public mainnet for transactions with sufficient privacy comfort”.
One topic that has already dominated in 2019 and could become even bigger in 2020 is Decentralized Finance (DeFi). As ConsenSys recently stated in a report, DeFi has the potential to grow into a billion dollar industry. In this respect, there are numerous arguments for the Ethereum price to outperform 2019 in the year 2020.
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Which cryptocurrencies do you think have the greatest potential in 2020? We would appreciate feedback and your top 5 in the comments!