Unless you've been living under a rock for the last couple of years, you've probably heard of Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Dogecoin (CRYPTO: DOGE).
But did you know that there are over 4,700 crypto assets?
In this article, we're reviewing five cryptocurrency projects that you may have never heard of, but that could potentially see growth in the long term.
1. BitTorrent (CRYPTO: BTT). If this name sounds familiar, that's because it is also the name of the famous torrent peer-to-peer file-sharing software BitTorrent.
This piece of software was released in 2001 and is now one of the most common protocols used for the fast sharing of large quantities of data.
In February 2013, BitTorrent was responsible for 3.35% of all worldwide bandwidth—more than half of the 6% of total bandwidth dedicated to file sharing.
Major smart contract-enabled blockchain platform Tron (CRYPTO: TRX) acquired BitTorrent in July 2018 and integrated a Tron-based crypto asset into the protocol.
This asset is used to incentivize file sharing, allow for faster download speeds and pay for the file hosting through software that recently crossed 2 billion installations and is the 29th biggest crypto asset based on market cap with a total market value of $5.15 billion. The coin's current price is $0.0078.
2. The next crypto asset on the list is THORChain (CRYPTO: RUNE), the top 38th token with a market cap of $3.6 billion with a price of $15.5 and a low supply.
This is a protocol aiming to power interblockchain decentralized exchanges with a dedicated liquidity pool.
This protocol was recently chosen by major instant crypto exchange service ShapeShift to power its native decentralized Bitcoin trading technology.
This project could capitalize on decentralized exchange systems providing advantages such as anonymity and a growing interblockchain value transfer.
3. Avalanche (CRYPTO: AVAX), is a project aiming to create the "internet of finance" by creating a net of open-source interoperative blockchains meant to allow for scalable decentralized applications.
In other words, Avalanche could capitalize on web 3.0 development.
While the project is far from being a safe bet — like any other minor crypto asset — it was solid enough for venture capital firms such as Andreessen Horowitz and Polychain Capital.
The project is currently the 40th biggest based on its market cap of $3.5 billion and a token price of $28.14 thanks to its low supply.
4. Kusama (CRYPTO: KSM), with its 43rd place on CoinMarketCap's list of biggest crypto projects and a market cap of $3.28 billion at a price of $383.
Much like Avalanche, this project's goal is to capitalize on web 3.0 development.
Kusama is a multi-blockchain network meant for risk-taking development through the rapid adoption of bleeding-edge technology.
The protocol is built with nearly the same infrastructure as Polkadot (CRYPTO: DOT) but focuses on experimental development with fast software version iteration.
5. Huobi Token (CRYPTO: HT) is the token released by crypto asset exchange Huobi, and much like Binance Coin (CRYPTO: BNB), it allows its holders to access dedicated services on the coin.
Huobi buys back the tokens with 20 of its revenue to decrease its supply by destroying them, driving the crypto asset's appreciation.
According to CoinMarketCap data, Huobi is the second-biggest crypto exchange in the world, so this token being 45th with a market cap of $3 billion might leave a lot of room for growth from its price of $17.
This article does not represent investment advice.
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