Digital currencies could be due to huge gains in 2020. Well, it’s another year and there’s a lot to be offered by the cryptocurrency community. Bitcoin began the year in a really good shape convincing bulls that it’s time for business.
At the end of February, however, Bitcoin quickly collapsed, taking the rest of the cryptocurrency market with it. Despite the recent red market, a number of exciting projects and innovations are underway to watch out for. Having said that, let’s look at the top digital currencies to be on the watch list in 2020.
1. ChainLINK (LINK)
Back in 2019, LINK was the best performing digital currency and started the new year with the same momentum. Recently, ChainLink’s native token, LINK has seen staggering price movements. At the beginning of 2020, LINK is among the massive gainers of the bullish action At some point this year, its price has increased by more than 187 percent. In fact, LINK seems to be going against the price movement of Bitcoin. While BTC is down, LINK seems to have made key market gains.
Nevertheless, LINK’s price action is not the only interesting thing to keep an eye on; ChainLINK does some impressive business deals. In addition to partnering with giant search engine Google, ChainLINK has been busy forming more and more collaborations.
LINK has been building a buzz on the crypto platform, but the mainstream press still has so much to do. The price seems undervalued, making it crypto to watch this year.
2. Enjin Coin (ENJ)
The self-proclaimed gold standard for cryptocurrencies, Enjin coin (ENJ), has been gaining a lot of popularity among gamers. Enjin recently launched its mainnet on the Ethereum blockchain. It allows almost anyone to create games with items that live on a blockchain network.
After its launch, the token’s price had a massive rally reaching a record high. Nevertheless, it was subjected to the ongoing crypto reds market that revealed its correlation with other popular cryptocurrencies such as BTC and ETH.
The ecosystem of Enjin Coin consists of the Enjin platform, Explorer, Wallet, Beam, and other tools and services. This blockchain-based product ecosystem enables game developers and studios to use digitally tokenized blockchain assets as part of their strategies for acquisition, retention, interaction and monetization.
Its new product, which enables developers to create their own games and other in-game items driven by ENJ tokens. Currently, after a massive drop of 56% ENJ’s price $0.09 which seems very undervalued considering the ambitions of the project. It’s worth keeping tabs on.
3. Digitex (DGTX)
DGTX is a native token of the Digitex Futures Exchange. This startup aims to revolutionize the futures trading market for digital currencies by removing the commission liability from any trade. Scraping the fees will allow scalpers to make money and take advantage of the market’s tiniest price fluctuations. This is not possible at the moment, given the high fees charged by other exchanges.
In addition, the Digitex futures exchange has a user interface with a one-click trading ladder. This GUI helps the traders to remain in the price zone and position their orders with just a click of a mouse without using the keyboard.
The crypto startup will make it compulsory for traders to use DGTX tokens for all trades, hence enabling it to eliminate commission from all trades. In addition, this will also create a demand for the DGTX tokens among traders who want to enjoy commission-less trading and liquidity in the markets. Although that amount represents a 220% return rate for the initial ICO investors, DGTX enthusiasts are confident that it will reach its all-time high of 16 cents once it has been integrated for trading.
The exchange is currently in beta version and the mainnet is expected to be rolled out by 27th April, stirring a bullish movement of DGTX price action regardless of how BTC is doing. Watch out for this one.
4. Tezos (XTZ)
Tezos (XTZ) is a blockchain network linked to a digital token, known as tez or tezzie. Token holders get a reward for engaging in the consensus mechanism of proof-of-stake.
Tezos is one of those cryptocurrencies which tends to increase in value when Bitcoin is down. Additionally, this year’s XTZ token price action was among the most active so far, experiencing huge gains and corrections. Tezos blockchain has a huge global baker culture alongside a committed developer team.
Furthermore, both Coinbase and Kraken have recently listed XTZ for staking which resulted in a massive uplift to tezos. With the current momentum of the token and the downward trend of BTC, this year’s XTZ is an interesting prospect.
5. Basic Attention Token (BAT)
Through Brave BAT will be used to pay content creators and advertisers via tips from loyal fans, and users will also receive BAT for viewing advertising. Basic Attention Token (BAT) aims to completely revamp the efficiency of digital advertising using its token, which can be transferred between advertisers, users, and publishers.