The growth of cryptocurrencies is unstoppable. More and more companies and businesses accept this type of digital currencies, with which Bitcoin or Ethereum have become common terms for many people in the world.
The truth is that this market has not stopped growing. Right now, according to Statista, there are more than 8,400 cryptocurrencies around the world, although there are few that truly stand out at the moment for their value and the market that they already have around them.
Bitcoin is the main benchmark in terms of market capitalization since it reaches a figure that, until July 19, stood at 580,224 million dollars (mdd), a figure that prominently exceeds the rest of the cryptocurrencies present on the graph. For example, in the second position is Ethereum, whose capitalization is around 224,818 million dollars.
At this point, it is fair to mention that virtual currencies have diversified significantly in recent years and although Bitcoin remains a reference, its dominance has been reduced due to the arrival of new options.
According to information from JP Morgan, Bitcoin represents just over 40 percent of the cryptocurrency market compared to 70 percent at the beginning of the year.
Thus, there are many more options to consider when investing in cryptocurrencies. With this in mind we share four new ones, which are gradually joining the offer.
Compound COMP
It is a crypto asset that encourages investors to place COMP in loan pools and then rewards them with tokens Specials that can be used to take a loan for other crypto assets offered by Compound. COMP borrowers can also earn if their crypto becomes more valuable than whatever currency they used as collateral to borrow.
AAVE
It is a token decentralized finance, which invites users to invest in the AAVE smart contract. In exchange for the guarantee, investors receive tokens capable of generating interest. The unique feature is that users can choose what interest rate is earned based on the needs of their portfolio.
Yearn.Finance YFI
We are talking about a collection of decentralized financial programs that use the token AND FI. Investors can earn rewards at YFI by depositing them into annual finance contracts and agricultural yield, to earn more tokens depending on the guarantee they have initially put up. These programs aim to locate the best interest rates, accelerate the trading of multiple investments in a single share, and encourage investors to use Vaults to manage their investments in a crypto mutual fund for better interest-based rewards.
Decentraland MANA
MANA is not just another crypto. It is the key to the first virtual reality world to run on the Ethereum blockchain. The holders of these tokens they have the opportunity to buy land in a 3D virtual reality environment and establish their own virtual presence molded in their image. MANA also helps people buy services and items in this world, offered by companies and corporations investing in the digital landscape.
Venturing into the world of these cryptocurrencies is now easier if we consider that they are now available on the eToro investment platform, a firm that with these additions already has 23 crypto assets available in its portfolio.