There are many cryptocurrencies that are worth your attention, but today we are going to focus on why Stellar (XLM), Tron (TRX) and Tether (USD) are more favored than others. Considering that there are more than 1500 cryptocurrency projects listed on Coinmarketcap, new investors will have a difficult time choosing the right one. Things get even more confusing since there are tens of cryptocurrency projects that are duplicates of others.
With that being said, let’s check out what makes Stellar (XLM), Tron (TRX) and Tether (USD) special and why most people consider them as the best digital currencies for new investors who are looking to get involved with the crypto market.
This year stared poorly for all cryptocurrencies and this can be clearly seen in Stellar (XLM)’s Q1 performance as well. Despite having a rough start, Stellar (XLM) keeps going strong and its currently up by 15.52% in the last 24 hours which puts the XLM token at $0.361793. Moreover, the total market capitalization for Stellar (XLM) also grew to $6.7 billion.
Leaving the current value aside, the biggest reason why investors might want to choose Stellar (XLM) is because this cryptocurrency is being adopted in the banking sector. The main focus of the Stellar (XLM) team is to get the most out of the XLM token while other cryptocurrencies such as Bitcoin and Ethereum are directly focused on their robustness.
What separates Stellar (XLM) from others is that its designed to become the fastest and cheapest method of sending money globally. This is where Stellar (XLM)’s recent partnership with IBM and adoption by the banking sector comes in.
Just like Stellar (XLM), Tron (TRX)’s value has been going up in these past 24 hours. The cryptocurrency is up by 13.61% and its TRX token is priced at $0.048907 while the total market capitalization sits at $3.2 billion.
The main goal of the Tron (TRX) project is decentralize the web and the gaming industry. In fact, Tron (TRX) is the first cryptocurrency project that’s looking to innovate the gaming industry by giving people the ability to hold ownership over their in-game items. This makes Tron (TRX) quite attractive for developers and gamers which is surely going to help the cryptocurrency grow in value during the nearby future.
Another important thing that we should mention is that Tron (TRX) is backed by a powerful developer team. The CEO of Tron (TRX) is Justin Sun and he is renowned for his vision and passion for the cryptocurrency market.
Tether (USDT) is currently priced at $0.996774 per token and its total market capitalization is valued at $2.2 billion. The folks who designed Tether (USDT) want the cryptocurrency to become an alternative to trading exchanges that only feature crypto/dollar pairings. This makes Tether (USDT) quite innovative in the crypto world.
There is also a downside about Tether (USDT). The company who is in charge of Tether (USDT) has received lots of criticism for not being transparent enough. The reason behind this being that the company said there is a 1:1 Tether to USD ratio which is being kept in the company’s reserve.
Despite being criticized for not being transparent enough, Tether (USDT) is still the one of world’s most popular cryptocurrencies that gives people the ability to trade crypto directly against USD. In addition, the USDT parings are already making it easier for investors to trade on numerous exchanges.
Lastly, Tether (USDT) is a great cryptocurrency for investors who are looking to generate a profit because they can get the chance to “buy the dip”. Tether (USDT) price always drops and goes up when Bitcoin does. Knowing how volatile Bitcoin can be, investors are going to get many chances to purchase Tether (USDT) at a discount.