These 4 Cryptos Could Beat It This Spring

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Solana can be fast, but sometimes slow and steady wins the race.

Key points

  • Solana has grown dramatically in 2021, but it has also experienced some technical difficulties.
  • Polygon, Cardano, Avalanche and Cosmos are well positioned to beat Solana this spring.

Solana (SOL) was one of the best performers in crypto last year, growing over 11,000%, according to CoinGecko. However, it has struggled in recent months and in early May suffered another round of technical failures. After such dramatic growth, cracks began to appear in Solana’s story. But Solana is not the only promising crypto on the block. There are several cryptos that could beat it this spring.

Before we dive into four cryptos that could beat Solana, it’s worth pointing out that broader economic and geopolitical factors could mean that crypto prices will remain stagnant for some time. Very few cryptocurrencies may really stand out this spring, even if they have good long-term potential.

1. Polygon (MATIC)

Polygon is a favorite coin of many crypto experts. It is a layer 2 solution aggregator for the Ethereum (ETH) blockchain. Polygon alleviates some of the issues that Ethereum faces with network congestion and high fees, which is why it often features on crypto experts’ favorite coin lists.

Ethereum is undergoing a phased upgrade, but it won’t be complete until at least next year. Even then, Polygon will likely still have a role to play in improving network performance. According to research by Inc42, Polygon can compete with Solana in terms of processing speed and has over 7,000 dApps on its network.

2. Gimbal (ADA)

Cardano is a surprisingly polarizing cryptocurrency project. Programmable crypto takes a slow and steady approach to development, focusing on peer review and testing rather than being first to market. As a result, it only rolled out its smart contract capability last September, and it took time for new apps to launch on the Cardano ecosystem. This has drawn criticism from some crypto industry players who want to see faster progress, among others.

However, there are several reasons to be optimistic about Cardano’s performance this spring. Many new projects have chosen to use Cardano in recent months – it now has over 900 projects in development, as well as a growing number of new wallets. Founder Charles Hoskinson tweeted that they are, “Just getting started.”

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3. Avalanche (AVAX)

Avalanche is another promising crypto smart contract that some see as a potential alternative to Ethereum. There is a growing number of active Avalanche users, and according to DeFi Llama, it has more money invested in projects on its platform than on Solana. This stat is all the more interesting considering that Avalanche’s market capitalization is almost half that of Solana. Additionally, Avalanche is working on a new crypto wallet which it hopes will make interacting with the system easier for people new to crypto.

According to Bloomberg, Ava Labs, the company behind Avalanche, is working on another fundraiser. Ava Labs has already managed to raise nearly $250 million with backing from crypto heavyweights such as Polychain Capital, Three Arrows Capital, and Galaxy Digital.

4. Cosmos (ATOM)

Cosmos is an interoperability-focused smart contract cryptocurrency that helps blockchains communicate with each other. As the crypto industry becomes more diverse and developers use different platforms, interoperability becomes more necessary.

Grayscale Investments, one of the leading digital currency investment firms, recently added Cosmos to its smart contracts fund. The fund focuses on Ethereum alternatives and Cosmos is one of eight cryptos, accounting for around 5% of holdings. Like some of the other projects listed here, Cosmos has well-known backers and invests heavily in the development of multi-chain crypto projects.

At the end of the line

Solana’s fast processing times and low fees attracted many developers and investors last year. But its technical difficulties are a reminder that many of these projects are ongoing and few have been as tried as Ethereum or Bitcoin (BTC). This is an ever-changing industry and any project could be affected by unexpected technical issues or security breaches.

Polygon, Cardano, Avalanche, and Cosmos are all interesting projects worthy of further research. Nevertheless, the golden rule of crypto investing applies: don’t invest money you can’t afford to lose. That way, if a particular project fails to meet investors’ expectations, or if bottom falls out of the industry, it will be disappointing but not devastating.

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