What the Top 10 Might Look Like in Five Years
- Cryptocurrency enthusiasts have made an audacious effort to predict what the top 10 cryptocurrencies will be 5 years from now.
- According to Twitter user @ave_eli, and Chainlink will oust to take the number one and two spots in the rankings respectively.
- The prediction places Bitcoin in third place, while stablecoins occupy five out of the ten spots on the list.
- If CBDCs were taken into consideration, the top 5 would most likely be filled with CBDCs.
Since the dawn of time, humans have wondered what the future holds and have made attempts to peer into it. The same quirks exist in the cryptocurrency space, as the community ponders which network will take center stage, and which projects will fade into oblivion.
Twitter user and cryptocurrency enthusiast, @ave_eli set out to create a list predicting what the top 10 cryptocurrencies might look like in the next five years. His prediction places Ethereum as the future’s most dominant token, followed by Link, to the agreement of a majority of the community.
Ethereum and Chainlink at the Top
In five years, the top 10 cryptocurrencies will look much different than they do today. According to industry experts, Ethereum will become the largest asset by market capitalization because of the wide application of its functions.
Ethereum was designed as a platform on which decentralized applications could be built with smart contract functionality.
This capability has seen a lion’s share of the DApps set up shop on Ethereum, with over 3,000 decentralized applications setting roots there.
The rise of decentralized finance and NFTs is intricately linked to the Ethereum network, which serves as a testament to the real-world application of the network
Ethereum killer Chainlink has been touted by experts to take the second spot on the list. Presently, Chainlink is the 15th largest cryptocurrency, and the functionality of enabling universally connected smart contracts sets it in good stead to catapult it well into the top 10.
On the list, titan BTC is placed third, some reasons for which could be the narrow range of use cases for bitcoin and the absence of advanced smart contract functionality.
Stablecoins have been predicted to occupy a large chunk of the top 10 over the next five years, according to experts. At the time of writing, only 3 of the top ten spots are occupied by stablecoins, but the future could see them gobble up at least 5 of the spots.
The prediction hinges on the utility that stablecoin brings to the ecosystem. The start of 2021 has seen the market capitalization of stablecoins blow through the roof with the number now pegged at well over $110 billion.
According to the prediction, if CBDCs were taken into consideration, they would take over the top 5 on the list as their development is already picking up pace.
On the Flipside
- The revenue of Ethereum miners slumped in June by a jaw dropping 53%.
- The drop in prices is a result of the dwindling transaction volumes, which led to a drop in fees.
Since the prediction was published, a cross-section of crypto users has disagreed with the assertion.
There is a consensus that Ethereum will be king in the future, but the absence of and has raised some eyebrows, especially in light of the waves of innovation that Cardano is currently generating. The absence of BNB from the list is also a point of contention among enthusiasts.
Proponents of Bitcoin remain adamant that Bitcoin will remain the largest cryptocurrency in the future, following the implementation of the proposed updates to the network.
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