Ankish JainCryptocurrencies have caused a lot of FUD (fear, uncertainty and doubt) lately. Following Elon Musk’s announcement that bitcoin will no longer be accepted as a payment for Tesla vehicles, bitcoin value fell by as much as 20% in 24 hours, reaching its lowest level since 1 March.
Once again the cryptocurrency market proved to be highly volatile. Since bitcoin has been struggling to maintain its bullish traction, a plethora of new altcoins show a strong potential for multi-bagger profits.
In this article, we discuss the two newest cryptocurrencies that have the potential to grow over time.
Newest cryptocurrencies with the potential to cause a market disruption
Internet Computer (ICP)
The cryptocurrency universe never fails to amaze. A new name has recently entered the list of the newest cryptocurrencies to watch and quickly became one of the most talked-about coins on the market.
This newest crypto is Internet Computer (ICP). It was launched on 10 May 2021 and is listed among the top 10 cryptocurrencies in the world already. Within the first day of trading the cryptocurrency spiked from $146.45 to $737.20 and consolidated around $318.00 four days later on 14 May 2021. The ICP market cap is $39.4bn, according to CoinMarketCap.
Like the Ethereum blockchain, the Internet Computer blockchain uses smart contracts to power various apps and networks.
Developers can use the Internet Computer blockchain to create websites and other internet resources such as social media and web applications and decentralised finance (DeFi) apps.
However, unlike Ethereum, the Internet Computer blockchain is much faster and less expensive, and its speed and capabilities are comparable to the internet.
The distinguishing feature of Internet Computer is its proprietary protocol, Internet Computer Protocol, which is designed to allow anybody to create software or publish information on the internet without relying on web services from large corporations such as Amazon, Google or Facebook.
Its founder Dominic Williams, chief scientist at Dfinity, claims that the protocol offers a hack-proof infrastructure, lowers costs and is interoperable.
Newest altcoins 2021: analysts’ views on Internet Computer
Wall Street analysts seem bullish on Internet Computer. According to WalletInvestor, the price of ICP token is expected to hit $652.75 by the end of 2021, $2,013.36 by the end of 2023, and $2,417.03 by the end of 2025. The cryptocurrency is projected to reach $3,659.45 by May 2026, a rise of 1,207.88% from its current price levels, making this newest crypto one of the top altcoins to watch.
According to DigitalCoin, the Internet Computer (ICP) price will rise to $486.26 by the end of 2021, will reach $661.58 in 2023, $801.73 by the end of 2024 and $1,140.10 by the end of 2026. Eventually, analysts believe the price of ICP will hit $1,375.28 in 2028.
Newest cryptocurrencies to invest in for 2021
Enjin coin (ENJ)
While Enjin token (ENJ) was released in 2017, it did not gain mainstream acceptance until January 2021.
The price of the Enjin token was $0.136 on 1 January 2021, and it hit the all-time high of $4.00 on 9 April 2021, representing a 2,841% surge in just three months.
According to CoinMarketCap, it is currently trading at $2.02 and has a market cap of $1.8bn.
Enjin is an Ethereum-based cross-chain project that brings together many players from all around the world. Enjin delivers an ecosystem of blockchain-based interconnected gaming products. Its flagship offering is Enjin Network, a social gaming platform in which users can chat, create websites and host virtual stores.
Enjin token is designed specifically for the video gaming industry. The project has proved to be useful for over 20 million players worldwide in creating networks and conversations related to their favourite video games.
Engin coin is used as a store of value, backing the value of blockchain assets like non-fungible tokens (NFTs). Engineers of any video game could build a currency backed by the Enjin token. In terms of value, stability and exchange speed, these tokens would have similar benefits to the blockchain.
Enjin now collaborates with IT and gaming industry giants such as Samsung, Unity and PC Gamer, and a few esports brands. The number of partners is constantly growing, allowing Enjin to reinvent the essence of the gaming experience.
Newest altcoins 2021: analysts’ views on Enjin
WalletInvestor believes Enjin is an “awesome” long-term investment. According to its Enjin price forecast, ENJ can rise up to $4.335 in the next 12 months and hit $11.916 in 2026.
DigitalCoin also shares a bullish view on the Enjin crypto price prediction, expecting a gradual increase from $3.29 in 2021, to $4.84 in 2023, $6.67 in 2025 and $9.76 in 2028.
FAQs
What is the most promising new cryptocurrency?
According to the analyst forecasts from WalletInvestor and DigitalCoin, both Internet Computer (ICP) and Enjin (ENJ) show strong potential for future growth. Moreover, both projects have strong fundamental value. However, the cryptocurrency market is vulnerable to unforeseen periods of volatility, and a long bear cycle could wipe out gains.
What newest coins will explode in 2021?
Both the Internet Computer (ICP) and Enjin (ENJ) fundamentals seem solid and stable. The altcoins have a reasonable chance to explode in the coming years, based on current growth, forecasts and positive sentiment from the analysts surveyed by DigitalCoin and WalletInvestor.
What newest crypto to buy in the future?
The cryptocurrency landscape continues to grow, increasing in both recognition and value. It’s hard to foresee which new altcoins will rise in popularity and acceptance. However, you should closely watch and consider those with a robust network, reliable leadership and sound fundamentals.
