With over 6,000 cryptocurrencies on the market and new ones coming out every single day, it can be a daunting task for a crypto investor to keep up. We are strategically positioned with heavy weight in favor of the top 2 cryptos by market cap – Bitcoin and Ethereum – and the future for each continues to look bright. However, we continuously monitor the market and refine the balance of our portfolio in order to optimally allocate our investors’ capital.
While we are not invested in each of the coins and tokens that may up the list below, here are our top ten coins and tokens on our watch list that eventually may all find their way into the fund:
(Note: all market caps are approximate)
10. 2key.network (2KEY)
Market Cap: $1.5 million
Why we are interested: 2KEY has created “smart links” such that website links can do more than simply take someone who clicks it to the destination webpage. Instead, a clink on a link can now trigger other events, including tracking, recording and rewarding. 2KEY has the potential to change affiliate marketing and to impact the entire digital advertising space.
9. DFOhub (BUIDL)
Market Cap: $1 million
Why we are interested: DFOhub facilitates the creation of decentralized applications (“dapps”) in an innovative way. It is based on a new approach of managing smart contracts as micro services to build dapps and enable communities of coders to start projects from scratch in an anonymous way. In other words, this platform enables the creation of “startups without founders”, with potentially revolutionary implications.
8. Zenon (ZNN)
Market Cap: $6.5 million
Why we are interested: Zenon launched over a year ago and it is a bit of a mystery as to what they are building (perhaps the subject of a future article). However, the main reason of interest lies within the many believers of this project who claim that Jack Dorsey, founder of Twitter and Square, is secretly behind it. While we are not one to believe in rumors, there is certainly a degree of smoke around this project, and one day it may truly catch fire if the connection is true.
7. Rocket Pool (RPL)
Market Cap: $40 million
Why we are interested: Rocket Pool is likely the most simple project on the list to wrap one’s mind around. Ethrereum will be upgrading to Ethereum 2.0 in the near future, and among other changes, holders of at least 32 ETH will be able to “stake” their ETH and effectively receive an ongoing dividend. For holders of ETH below that threshold, Rocket Pool provides a mechanism by which such holders can pool their ETH and receive their proportional share of the dividend.
6. Quant (QNT)
Market Cap: $70 million
Why we are interested: Quant’s website says it best: “We’ve already developed the world’s first blockchain operating system that not only interconnects blockchains but also legacy networks to blockchain. Now, we’re building on this platform, called Overledger, to help governments, organizations and individuals across the globe benefit from the true potential of an incredibly powerful technology.”
5. Polkadot (DOT)
Market Cap: N/A (not yet released)
Why we are interested: Founded by Ethereum co-founder and CTO Dr. Gavin Wood, Polkadot is one of the most anticipated new crypto releases in recent memory. Polkadot’s mission is to create a better internet, a “completely decentralized web where users are in control”. Ambitious, but with a fundraising war chest in excess of $140 million in cash, plans to raise an additional $60-90 million at a $1-1.2 billion valuation, and a founder who’s last project has the highest market cap of any non-anonymous cryptocurrency, we wouldn’t bet against it.
4. Cardano (ADA)
Market Cap: $2.74 billion
Why we are interested: The highest market cap coin and the only top-10 project on this list, Cardano is not a sleeper pick within the industry. However, the project remains 92.5% off its all time high price, and with the launch of the mainnet apparently right around the corner after years in the making, Cardano is likely poised for a significant run if they can deliver on their promises. We wouldn’t be surprised if they become a viable competitor to Ethereum at some point in the future.
3. Energy Web Token (EWT)
Market Cap: Unknown (estimated $70-100 million)
Why we are interested: Simply stated, the Energy Web Chain is a platform and ecosystem for energy companies. They have a more-than-impressive list of partnerships that have already been inked, and there are rumblings of a Tesla partnership as well. EWT is also a member of the Baseline Protocol (another topic for a future article), which will give them a leg up on any would-be competitors.
2. Unibright (UBT)
Market Cap: $62 million
Why we are interested: Unibright is often colloquially referred to as the “Shopify of blockchain”, in that a large part of the value they provide is based on easy-to-use products, services and features that enable non-experts to leverage technological benefits. It is also a member of the Baseline Protocol, which will add additional enterprise exposure and usage. Already one of the fastest-rising cryptocurrencies of 2020, Unibright appears to have a very bright future ahead.
1. Chainlink (LINK)
Market Cap: $1.7 billion
Why we are interested: From their website, “The Chainlink network provides reliable tamper-proof inputs and outputs for complex smart contracts on any blockchain.” In other words, a blockchain is typically a closed-off finite ecosystem, but Chainlink serves as an “oracle” that allows for external data and information to be brought in and incorporated. Chainlink also has a remarkable partnership roster and is a member of the Baseline Protocol. Despite a meteoric rise over the last year, this project is as solid as they come in the crypto industry and have exponential upside potential.