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- According to Messari CEO Ryan Selkis and Blockfyre co-founder Simon Dedic, altcoins such as XRP, Bitcoin Cash (BCH), Bitcoin SV (BSV), Litecoin (LTC) and EOS (EOS) have no place in the top 10 by market capitalization.
- Both CEOs stated that the top 10 will be thoroughly shaken up next year and some altcoins will be replaced by others with low or medium market capitalization.
Over the last few years the list of the top 10 cryptocurrencies by market capitalization has changed significantly. Apart from Bitcoin, Ethereum, XRP and Litecoin, no other cryptocurrency has managed to stay in the top 10. Some cryptocurrencies like Peercoin, BitShares or Nxt, which were in the top 10 at the beginning of 2016, are no longer relevant today.
Two prominent crypto space experts have now presented their list of the top 10 cryptocurrencies by market capitalization in 2021 and explained that a few of today’s top 10 cryptocurrencies could not do otherwise than Peercoin and Co. One of the analysts was Messari CEO Ryan Selkis, who explained in a tweet that a number of cryptocurrencies with low and medium market capitalization have the potential to stir up the top 10.
According to Selkis, XRP, Bitcoin Cash (BCH), Tether (USDT), Bitcoin SV (BSV), Litecoin (LTC) and EOS (EOS) could lose their status as one of the top ten cryptocurrencies. In contrast, Selkis expects Bitcoin and Ethereum to retain their top positions. After that, however, things will get exciting. In Selkis’ list, Polkadot (DOT) is in third place. However, the project of former Ethereum co-founder Gavin Wood is still waiting for the Mainnet launch.
A month ago Messari stated in a report that Polkadot, funded by the Web3 Foundation, is one of the best funded projects and could emerge as a potential competitor to Ethereum:
Polkadot is one of the more well-funded and well-known Ethereum competitors racing to the market.
According to Selkis, Binance Coin (BNB) will rise to 4th place as a utility token with great value promise. Furthermore, Cardano and Tezos could then take fifth and sixth place. Seventh place, according to Selkis, will be taken by the Bitfinex utility token UNUS SED LEO (LEO).
The Messari CEO also expects a big leap from the DeFi-Token Compound (COMP). The DeFi protocol has already caused quite a stir in recent weeks after attracting millions in capital and replacing Maker (MKR) as the largest DeFi application. Another striking feature of Selkis’ list is the fact that Monero (XMR) and Zcash (ZEC) are ranked ninth and tenth, which means that Selkis’ indirectly predicts a growing demand for privacy coins.
Overvalued is one thing. Stupid is another. Here’s hoping to flushing out the real garbage.
Next year’s top 10:
What are yours?
— Ryan Selkis (@twobitidiot) June 22, 2020
However, Selkis is not the only one who expects significant changes in the top 10 next year, but also the co-founder of the crypto research company Blockfyre, Simon Dedic. Like Selkis, Dedic named five altcoins that in his opinion do not deserve to be in the top 10:
I will get some serious hate for that, but I stand by my opinion: $XRP, $BCH, $BSV, $LTC and $EOS absolutely do NOT deserve belonging to the TOP 10 cryptocurrencies.
Actually can’t wait until they vanish and clear the way for solid candidates like $VET, $LINK, $XTZ or $ATOM.
Last updated on June 25, 2020