So far, 2019 hasn’t been kind to cryptocurrency investors. According to CoinCodex, the year started with a total valuation of $126 billion, and peaked at almost $140 billion on January 6. The current valuation sits at $111 billion, 12% lower compared to the year’s start. After January 10, when we experienced the largest daily drop in valuation, the market has presented long-term holders with various entry points. Here’s a list of the top three coins, which we believe are worth keeping on your radar in February.
TRON is a blockchain-based highly scalable decentralized protocol. In 2018, TRON acquired BitTorrent with an aim to create the largest decentralized ecosystem on the planet. Soon after, rumours about the BitTorent token (BTT) started circulating. On January 20, the BitTorrent foundation announced that they will be airdropping almost 20% of the total BTT supply to TRON holders in the course of the next 6 years. The first airdrop will take place on February 11.
TRON was the best performing coin from the top 10 in January, and outperformed Bitcoin by 50% in January.
With Justin Sun overlooking the progress of project, a successful BitTorrent ICO that sold out in under 20 minutes under their roof, and the potential of the platform, the future looks bright for TRON.
Binance Coin (BNB)
Binance Coin, a coin issued by the world’s largest cryptocurrency exchange, continues to strengthen its position in the world of cryptocurrencies. Its ecosystem provides a vast spectrum of services: from an OTC trading platform, a token launch platform to acting as an incubator for different blockchain projects and offering education and research content. Furthermore, Binance is expanding its area of operation. The team recently launched Binance Uganda and Binance Jersey, a new subsidiary that aims to take a big part of the fiat-to-crypto trading market that has since long been dominated by giants such as Coinbase and Gemini. At the moment, investors from 58 different countries are now able to buy Bitcoin and Ethereum with fiat through Binance. Just recently, the exchange completed the sixth BNB token burn, burning $9.4 million worth of BNB (1,623,818 BNB).
Ethereum is an open-source distributed blockchain and currently still the sector’s leading smart contract platform. Launched in 2015 by Vitalik Buterin, the platform experienced quite some improvements and a lot of tweaking since its inception. The project is currently undergoing the transition towards Ethereum 2.0, also known as Serenity. Ethereum is currently in its third stage, called Metropolis, which will include two hard forks (Byzantium and Constantinople). Additionally, Serenity will utilize a proof-of-stake (PoS) consensus mechanism, thereby completing the transition from the currently used proof-of-work (PoW) mechanism.
Another positive factor that might influence the adoption and price is the forthcoming ETH Denver conference, which will take place between the February 15 and 17. More than 170 Ethereum projects will participate at the conference and some of them are expected to make major announcements.