FX.co ★ 5 cryptocurrencies which come under spotlight in February 2021

Ethereum (ETH)

The most promising cryptocurrency on the list is Ethereum, the second-largest cryptocurrency by market capitalization after bitcoin. At present, it is the most successfully developing blockchain network which suits perfectly developers of smart contracts. In February, ETH futures contracts were launched on the Chicago Mercantile Exchange (CME). From now on, they can be traded by institutional investors. Some analysts make optimistic forecasts predicting ETH growth to a historic high of $1,780 per token this year.

Elrond (EGLD)

The second beneficial cryptocurrency of February is Elrond whose price and popularity have gained notably. Launched in July 2020, the project represents a blockchain platform which boasts higher processing power. Apart from impressive transaction speed, the platform features a unique sharding scheme. Elrond developers strive to create a global financial network enabling almost instant transactions. Experts reckon that Elrond’s native cryptocurrency called eGold is set for a long-term bullish trend with prospects of growing as high as $84–85.

Stellar (XLM)

Stellar is ranked third among the leaders of the crypto market in February. The project was founded in 2014 with a view to providing financial services in countries with troubled access to the banking sector. The Stellar payment system charges fixed commissions for transactions which are executed almost instantly. The project attracted a few large institutional investors, including Grayscale Investments, the founder of Stellar Lumens trust. In February, the Stellar developers are due to launch USDC, the stablecoin fully backed by the US dollar. It is expected to support all transactions within the Stellar network. Analysts believe that global liquidity of USDC will ensure fast, cheap, and safe international transactions. The native cryptocurrency for Stellar, Lumen (XLM) is expected to resume the uptrend heading for $0.19-0.22 per token.

Swipe (SXP)

Swipe is viewed as the fourth promising cryptocurrency of February. It belongs to the booming industry of decentralized finances (DeFi). The highlight of February is the launch of the Swipe Ignition platform to trade other tokens inside the Swipe environment. Through the Swipe ecosystem, users will be able to conduct Initial Wallet Offering (IWO) that will allow them to raise capital in SXP.

Verge (XVG)

Verge rounds out the top 5 cryptocurrencies of February 2021. Meanwhile, this cryptocurrency costs small money. However, in light of the halving which took place on January 26, 2021, experts foresee great investment opportunities for Verge. The nearest halving in the XVG network is scheduled for September this year. Crypto analysts say that Verge is currently testing the resistance level. Once it is over, the crypto asset will gain value notably.