3 High Performing Cryptocurrencies To Look Out For in 2020 Q4

The crypto market is in a spring right now, and here are three high-performing tokens to watch.

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So far, 2020 has been a year of ups and downs in the financial market, especially since the advent of the coronavirus, with stocks jumping all over the place. Cryptos have also had their fair share and are in no way left out. Regardless, the financial market ecosystem has continued to seek out alternative liquidity investment plans and are rapidly turning to high performing cryptos and stocks.

In this guide, we’ll examine three (3) high performing cryptocurrencies, their market value and activity, historical performance, and what to expect in the remainder of 2020. Without much ado, let’s get started.

Read Also: 2020 Has Been The Year of DeFi. Here’s How It Has Given Cryptocurrencies A New Lease of Life

Cosmos

Cosmos (ATOM) is simply a double-layer network that comprises of a lot of independent, yet interoperable blockchains referred to “Zones” which operate based on the Byzantine Fault Tolerance (BFT) consensus algorithm. It facilitates the exchange of assets, tokens and data between blockchains.

  • Historical Performance

At the start of 2020, Cosmos had a market cap of $802.5 million and an average market price of $4.3. At the time of writing (August 31 2020), it’s now ranked 19th with a market cap of about $1.18 billion, a market price of $5.7, and a 24-hour trading volume of about $321 million. That’s a 47% growth in market cap and a 32.6% increase in market price over 8 months.

  • Core Area of Usefulness

Cosmos partners with OmiseGo, IRIS, Loom Network, FOAM, Theta Toe, etc. to provide solutions to blockchain scalability, sovereignty and complexity.

   

  • What to Expect

Cosmos has an average market cap of about $1.2 billion, and a surge is expected in the nearest future. Based on trends, crypto enthusiasts can expect Cosmos attain a market price of $10 by December 2020.                                                                                                                                                                                                                                                                                          

VeChain

VeChain is a blockchain-based crypto platform specifically designed to enhance business models and supply chain management with the aid of DLT. It aims to champion a distributed and trusted business ecosystem that ensures greater transparency in the flow of information, an ultra-swift transfer of value and efficient business collaborations. This project has numerous practical examples and is highly appreciated and recognised by Deloitte, BMW, PICC, PwC, H&M and lots more.

At the turn of the year 2020, VeChain was ranked 30th with a market cap of about $332.4 million and traded at $0.005643. Fast forward to today, it ranks 21st with a market cap of over $1.1 billion, and trading at an average $0.018553. That’s a bullish 258% growth in market cap and 228% surge in market price.

  • Core Area of Usefulness
  • Automobile data tamper-proof – Renault and BMW are currently partnering with VeChain. Data such as driver’s habit, repair history, registration, and insurance are made immutable.
  • Product Anti-duplication: this is executed with the aid of smart chips which ensures that products are not adulterated. Certain luxury brands have already signed up for this.
  • Cold-chain logistics via IoT sensors that automatically interface with the blockchain.
  • Carbon Credits: carbon emission tracking and rewards schemes for friends of the earth.
  • Provide solutions to the traceability of digitalized clinical trials.
  • What to Expect

The surge in the market activity and demand for VeChain is driven by its integration of IoT into supply chain management models. According to cryptoground, VeChain is expected to attain $2.58 by December 2020, although a little unrealistic.

To attain the $2 mark, VeChain would have to match Bitcoin’s market capitalization – that’s a difficult one. However, a more realistic prediction would peg VeChain at about $1 by the end of the year.

Chainlink 

Just like the two cryptos mentioned earlier, Chainlink is also doing exploits, and it has achieved new market prices multiple times already in 2020 – its token is LINK.  A Chainlink solution, Oracles, make it possible to aggregate real-world data, payments and events into the blockchain as smart contracts. Plus, this project finds application on DeFi platforms and is gradually making waves in the pharma space.

  • Historical Performance

As the time of writing, Chainlink is ranked 5th with a market cap of over $6 billion, and a 24-hour trading volume of over $1.8 billion, according to coingecko. Chainlink started at $1.8 in January 2020, with a market cap of $642 million, but today, it’s trading at $16.7 – that’s a bullish 828% rise in market price.

  • Core Area of Usefulness
  • Retrieval and verification of external data on smart contracts and blockchain network.
  • Decentralized Finance (DeFi) platforms
  • What to Expect

Price predictions are becoming a bit more difficult, especially with the look of the financial market. This might be different for Chainlink as it’s already outperformed several predictions this year on many occasions, and is currently trading above the $5-10 mark forecast.

According to an AI-enabled algorithm from Crypto-Rating, Chainlink is predicted to trade at about $20 by the end of 2020, towards the turn of 2021. This is pretty much realistic and it an only get better with this project.

Recommended: As The Crypto Spring Becomes Evident,Here Are The Top 3 DeFi Leaders In H2 2020

Disclaimer: This is clearly the opinion of the author and not a piece of financial advice. Endeavour to dig deep before you make any investment in cryptocurrencies.

Author: Gb Obasogie

Committed to a better you

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