Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

What the Top 10 Might Look Like in Five Years

Published 07/10/2021, 06:00 AM
Updated 07/10/2021, 06:30 AM
What the Top 10 Might Look Like in Five Years

What the Top 10 Might Look Like in Five Years

  • Cryptocurrency enthusiasts have made an audacious effort to predict what the top 10 cryptocurrencies will be 5 years from now.
  • According to Twitter user @ave_eli, Ethereum and Chainlink will oust Bitcoin to take the number one and two spots in the rankings respectively.
  • The prediction places Bitcoin in third place, while stablecoins occupy five out of the ten spots on the list.
  • If CBDCs were taken into consideration, the top 5 would most likely be filled with CBDCs.

Since the dawn of time, humans have wondered what the future holds and have made attempts to peer into it. The same quirks exist in the cryptocurrency space, as the community ponders which network will take center stage, and which projects will fade into oblivion.

Twitter user and cryptocurrency enthusiast, @ave_eli set out to create a list predicting what the top 10 cryptocurrencies might look like in the next five years. His prediction places Ethereum as the future’s most dominant token, followed by Link, to the agreement of a majority of the community.

Ethereum and Chainlink at the Top

In five years, the top 10 cryptocurrencies will look much different than they do today. According to industry experts, Ethereum will become the largest asset by market capitalization because of the wide application of its functions.

Ethereum was designed as a platform on which decentralized applications could be built with smart contract functionality.

This capability has seen a lion’s share of the DApps set up shop on Ethereum, with over 3,000 decentralized applications setting roots there.

The rise of decentralized finance and NFTs is intricately linked to the Ethereum network, which serves as a testament to the real-world application of the network

Ethereum killer Chainlink has been touted by experts to take the second spot on the list. Presently, Chainlink is the 15th largest cryptocurrency, and the functionality of enabling universally connected smart contracts sets it in good stead to catapult it well into the top 10.

On the list, titan BTC is placed third, some reasons for which could be the narrow range of use cases for bitcoin and the absence of advanced smart contract functionality.

Stablecoins

Stablecoins have been predicted to occupy a large chunk of the top 10 over the next five years, according to experts. At the time of writing, only 3 of the top ten spots are occupied by stablecoins, but the future could see them gobble up at least 5 of the spots.

The prediction hinges on the utility that stablecoin brings to the ecosystem. The start of 2021 has seen the market capitalization of stablecoins blow through the roof with the number now pegged at well over $110 billion.

According to the prediction, if CBDCs were taken into consideration, they would take over the top 5 on the list as their development is already picking up pace.

On the Flipside

  • The revenue of Ethereum miners slumped in June by a jaw dropping 53%.
  • The drop in prices is a result of the dwindling transaction volumes, which led to a drop in fees.

Counter Opinions

Since the prediction was published, a cross-section of crypto users has disagreed with the assertion.

There is a consensus that Ethereum will be king in the future, but the absence of XRP and Cardano has raised some eyebrows, especially in light of the waves of innovation that Cardano is currently generating. The absence of BNB from the list is also a point of contention among enthusiasts.

Proponents of Bitcoin remain adamant that Bitcoin will remain the largest cryptocurrency in the future, following the implementation of the proposed updates to the network.

EMAIL NEWSLETTER

Join to get the flipside of crypto

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

[contact-form-7] You can always unsubscribe with just 1 click.

Continue reading on DailyCoin

Latest comments

Ada 1,2,3 & 4
Btc #1, Xrp #2, Eth#3, ADA#4,
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.