Top 10 Altcoins to Invest In November 2021

Cryptocurrencies have proven their worth in recent years. Most of the current market capitalization has been driven by investors speculating on the prospects of this new technology, and this is expected to continue until a certain level of price stability and market acceptability is attained. In order to support my previous sentence, the current crypto global market cap is a live example. It has crossed sed $2.8 trillion and is soon going to hit the $3 trillion milestones. Therefore, it looks like the road for the crypto space is smoothly onwards and upwards from here. 

Apart from this collective success of the entire crypto market, it is important and worthy to mention that Altcoins (cryptocurrencies apart from Bitcoin) have a commendable role to play in the rally. Therefore, this place deserves all your time, attention and money, if you are looking for profitable returns. And the successful proliferation for quite some time now has happened due to the rising dominance and acceptance of Altcoin. Bitcoin is no longer the sole ruler of the crypto space. 

Altcoins Took the Right Hint

For more than a decade, the top cryptocurrency has accounted for more than half of the total crypto market capitalization. Bitcoin’s market cap once accounted for more than 70% of the total cryptocurrency market cap. 

However, as more cryptocurrencies are launched the industry becomes more diverse, the pattern is shifting. Altcoins are eating out Bitcoin’s market share as the interest in various altcoins, including the prominent ones like Ether, Solana, and others, begins to boom, with most investors no longer focused solely on Bitcoin.

Bitcoin usually leads the charge in bull cycles. It has done so since September of this year, but other altcoins (cryptocurrencies other than Bitcoin) have only recently begun to fire.

However, altcoins have a wide range of applications in the market, and investors have started to realize it. Particular investors prefer altcoins to Bitcoin in some cases. Bitcoin’s market dominance has been fluctuating vastly as a result of the rise of various cryptocurrencies. This Cryptoknowmics article will tell you about the top 10 Altcoins for this month, and why they deserve to be on the list.  

Top 10 Altcoins for November 2021

The recent bulls and highs, predictably, elicited calls from experts on both sides of the issue. Some believe the highs are signs of a bubble about to burst, while others believe Altcoins will continue to rise. It’s usually a good idea to be careful following a significant price increase because, given the volatility of the crypto market, prices are likely to fall again. 

Long-term investors may find it easier to focus on long-term investments and tune out short-term market sentiments. However, keeping an eye on overall patterns is still a smart idea as they can help us decide which altcoins to keep on our watchlist. So here are the top 10 Altcoins for November 2021. 

Note: Altcoins are not given in any particular order, and the price and market cap of all the tokens are as per the research done for the article.

Ethereum (ETH)

The second-largest cryptocurrency is going through its ATH this week, therefore it is worth its place in the list. Ethereum has been performing exceptionally well over the past few weeks. The token is currently trading at $4817, with a global market cap of $568 billion. Ethereum increased by 4%, breaking beyond the $4800 barrier for the first time. It has increased by roughly 59% since the beginning of October. Except for validators, who are someone who checks transactions on the Ethereum network, Altair was mostly seen as a non-event. However, the upgrade was a critical step toward deploying Ethereum 2.0, also known as Eth2, which has been in the works for years and will completely redesign the network.

The network would move from the energy-intensive “proof-of-work” mining method, in which miners solve difficult math algorithms to create new coins, to “proof-of-stake,” in which users just use their existing Ether cache to verify transactions and manufacture new tokens. Eth2 intends to improve Ethereum’s scalability, security, and long-term viability. This shift will have far-reaching implications not only for Ethereum but for the whole cryptocurrency ecosystem.

Ethereum has been accepted and popularized so widely that it has numerous other projects lined up for itself. As a result, it is safe to say that the price of the token is going to climb even further. Moreover, Reddit, a social media platform, appears to be catching up with crypto culture and is set to join contemporaries like Facebook in the next phase of the Internet revolution. People possessing a certain quantity of Karma Points will be able to purchase Ethereum-based crypto tokens on the platform. Earlier this month, a Reddit programmer released more details about the pro-crypto modifications that are being examined for adoption on the network, which he claims has 500 million monthly active users.

Decentraland (MANA)

The token is trading at $2.66, with a global market cap of $4 billion. Decentraland is a self-described metaverse platform where people may construct and acquire virtual territories. Users can purchase a “property” and upgrade it to the desired atmosphere, such as casinos, art galleries, and theme parks. On Saturday, the frantic trading run pushed the price of Decentraland to a new high of $4.69. Decentraland had usually traded under $1 since late May. Until recently, in April, it reached an all-time high of $1.63, only to fall a month later.

Some have been wondering why Decentraland has begun such a large rally in the first place. The truth is that Decentraland, a metaverse coin, owes its existence to Facebook. This is due to Facebook’s rebranding as Meta, with the goal of “bringing the metaverse to life.” A metaverse is a virtual reality environment that allows users to communicate with one another. Decentraland makes use of the “MANA” token, an ERC20 token based on Ethereum’s blockchain. 

Decentraland distinguishes out when compared to other cryptocurrencies because of its unique trading experience. Decentraland, in particular, is a blockchain-based cryptocurrency that bills itself as a “world owned by users.” Users can create scenes, images, challenges, and digital assets such as LAND, estates, and avatar attire, as well as exchange them. Over the next few sessions, MANA is likely to stay within its wedge.

Sandbox (SAND)

The token is trading at $2.51 and holds a market cap of $2 billion. According to its website, Sandbox is an Ethereum-based platform where players may “play, develop, own, and manage a virtual environment.” Non-fungible tokens (NFTs) allow players to possess in-game assets, such as plots of land on which they can develop. The Sandbox has partnered with celebrities such as musician Snoop Dogg, AMC’s “The Walking Dead,” children’s cartoons “Care Bears” and “The Smurfs,” gaming company Atari, and CryptoKitties, a non-fungible token (NFT) game.

The Sandbox announced on November 2 that the project had closed a $93 million Series B investment round spearheaded by the SoftBank Vision Fund 2. 

The money will be utilized to help scale the ecosystem’s growth strategy, operations, and player acquisition, according to the team behind The Sandbox, “while sending a clear signal that the world’s most innovative fund believes in Web3 and decentralization as the next major trend.” 

These plans include the addition of new games, live events, and social experiences that stimulate community involvement while also providing a profit-generating environment for creators, companies, and intellectual assets. Quan, a popular Japanese messenger and sticker character collection, was just added to The Sandbox ecosystem. Quan will auction more than 300 LAND pieces, including 100 premium parcels bundled with NFTs, as part of its entry into the ecosystem.

Solana (SOL)

The token is currently trading at $244.9, with a market cap of $74 billion. This is the 5th largest cryptocurrency in the market today. Solana’s value has increased by more than 17% in the last seven days. It also reached its all-time high of $260. Investors and fans are reinforcing their positions on Solana overtaking Ethereum as the go-to blockchain platform for smart contracts in the future, thanks to the cryptocurrency’s surge. Binance Coin, Cardano, Ether, and Bitcoin are the only other cryptocurrencies that score higher than Solana at the time of writing.

Solana’s stock has risen to $244 after its investment arm, Solana Ventures, launched a new $100 million fund to expand blockchain gaming in collaboration with Lightspeed Venture Partners and the derivatives exchange FTX, which just received $420 million, valuing it at $25 billion. The funds will go toward gaming studios, technology businesses, and other ventures that combine ‘blockchain and gaming.’

In the age of decentralized finance (DeFi) and non-fungible currencies, Solana’s appeal has waned. It’s popular among developers who don’t want to cope with Ethereum’s fluctuating transaction fees, with Solana promoting itself as a more cost-effective and efficient option. It’s one of the main reasons Ethereum is in line to upgrade to Ethereum 2.0 by the end of the year.

Spell Token (SPELL)

The token is trading at $0.024, with a global market cap of $1 billion. SPELL’s surge to new highs looks to be fueled by Abracadabra Money’s completely decentralized approach to DeFi, and the ability to draw stablecoin loans from a growing range of assets.

The Abracadabra.money DeFi protocol and its native SPELL token have experienced a lot of traction thanks to their focus on developing a genuinely decentralized ecosystem and asset-backed stablecoin.

SPELL’s developing ecosystem has recently incorporated cross-chain functionality for numerous blockchain networks, including Fantom and the Binance Smart Chain, which has piqued the interest of investors. 

SPELL’s tokenomics structure, which incorporates governance votes on emissions to limit inflation, is another element attracting DeFi investors.

SPELL’s team closely monitors the emission schedule across its ecosystem’s multiple DeFi pools to guarantee that new tokens are minted and used in the most beneficial way for the protocol and its holders.

Because of the increased adoption and price increase, a huge number of tokens that were initially planned to be minted are no longer required. Hence, the team has chosen to reduce the emission schedule by 20% starting Nov. 1.

UFO Gaming (UFO)

The token holds a trading price of $0.00002647 currently. It has a total market cap of $678 million. UFO is an interstellar social game token that is completely decentralized. Its user interface introduces a dark metaverse, which functions as a virtual environment with a closed-loop economy. The crypto is themed around aliens and unidentified things, and it employs neoscrypt technology for enhanced encryption and network security. The market for UFO Gaming is getting better. 

During the most recent trading session, the company’s dynamics were positive. Although UFO Gaming is now seeing significant growth, it experienced a drop of 11% on October 28. However, the signals are again bull and the crypto is expected to hit back again. 

UFO Gaming plans to launch a decentralized bitcoin exchange in 45-60 days. The entire subject of cryptocurrencies is linked to astronomical creation and space. Blockchain can be tested in an online game based on space warfare. In-game materials such as skins, armor, and weaponry are included in the game and can be utilized to complete objectives. Users have the option of selecting their weaponry. 

It has the potential to be a good predictor of future UFO demand and price. The fact that this coin has already attracted a thousand investors in such a short amount of time adds to its appeal. This means that if you buy UFO Tokens today, you’ll almost certainly make a lot of money later. Investors will be able to earn a ticket to the moon, according to the developers. Indeed, the debut of UFO Token was one of the smoothest in cryptocurrency history, and its reign is only beginning.

Terra (LUNA)

The token is trading at $50.46, with a total market cap of $24 billion.  Terra’s native token, LUNA, allows users to pay network fees, participate in governance, and peg stablecoins by allowing them to stake in the TDPS (Tendermint Delegated Proof of Stake) consensus mechanism. The overall supply of LUNA is 968 million, with over 399 million already in circulation. It is one of the top 15 cryptocurrencies at the moment.

According to a press statement issued recently, Ethereum-based DeFi, risk management marketplace Risk Harbor will shortly acquire control of Terra’s Ozone Protocol. Ozone is a decentralized insurance mechanism that protects the Terra DeFi ecosystem in the event of technological problems. 

Terra aims to become the world’s premier e-commerce stablecoin payment and DeFi service provider, with its unique proposition of accelerating blockchain adoption in Asia and Korea while simultaneously working on a worldwide scale.

Axie Infinity (AXS)

The token is trading at $153, with a market cap of $9 billion. AXS has a maximum supply of 270 million coins, with over 60 million in circulation now. It is presently ranked among the top 25 cryptocurrencies by market capitalization. AXS began the year at less than $0.55 per token and recently reached an all-time high of $154, representing a 280x return in just ten months. This has piqued the interest of AXS shareholders. It began the month of October at roughly $75 before rapidly rising to $150 in the first week.

AXS is much more than a cryptocurrency to the gaming community, and as a result, it is still valued in that ecosystem. The true challenge for AXS will be ten-folding the number of DAUs. One, there is now a transaction and cost restriction on the Ethereum network, and two, the AXS team must develop a strong technology to handle such growth.

Soon, Axie Infinity is quite likely to be the market leader as a platform that gives a new and unique location for crypto fans and gamers to meet and participate in their platform. Regardless of how things turn out, Axie will be recognized for transforming gaming from a time and money-sucking pastime to a money-making venture.

Gala (GALA)

The current price of the token is $0.09007, with a global market cap of $628 million. The Gala Games Ecosystem’s digital utility tokens, or GALA tokens, operate on the Ethereum blockchain and adhere to the ERC-20 standard. The coin’s listing on two cryptocurrency exchanges may be the reason for the price increase that began on September 13th. Notably, on September 13th, it was first listed on Binance, the world’s largest cryptocurrency exchange. The Gala Games coin was also listed on Bibox, an artificial intelligence digital asset trading platform, on September 16.

The idea that users can buy a node in GALA or ETH and then vote on which games will be released on the Gala Games platform excites many users. This is significant because a user’s capacity to vote in governance votes (which could influence development and gameplay) has an impact on the Gala Games ecosystem’s overall trajectory.

Gala Games has grown to 1.3 million monthly active users since its launch in 2020. A total of 26,000 NFTs were auctioned, with the most costly piece fetching $3 million. Crypto Analysts estimate that the price of this currency will reach a maximum of $0.11 before the end of 2021. In 2022, the price could rise to $0.15, $0.26 in 2023, and $0.33 in 2024.

Enjin Coin (ENJ)

The current price of the token is $3.13, with a global crypto market cap of $2 billion. Enjin is a blockchain platform that focuses on the rapidly increasing non-fungible tokens and metaverse businesses. Enjin is a platform that allows individuals to trade NFTs. It also makes it possible for companies like Microsoft, LogiRelics, and GameTalkTalk to create and sell NFTs. Enjin’s ecology is rapidly expanding. It has a global user base of more than 10.3 million people. It also includes a marketplace with over 3.2 million assets. Its wallets have also been deployed by millions of users.

Following Facebook’s corporate rebranding to Meta last week, ENJ has experienced a big increase in value. Enjin already has a substantial user base. Its success is linked to the acceptance of NFTs and the metaverse by the general public. All of these concepts continue to dominate the crypto industry, implying that demand for the Enjin platform and the ENJ token will be strong. ENJ appears to be a Top 50, if not Top 25 coin in the new future, with various working products – such as its mobile wallet – now available.

Conclusion

Cryptocurrencies are here to stay, there’s no doubt about that. The question then becomes, where is the finest spot in the market to invest your money? Relatively, here are some other points to consider as you decide which cryptocurrency is the best investment for you: 

♦ The time it takes for a transaction to be executed. 

♦ Transaction fees are the costs associated with completing a transaction. 

♦ The ability to make regular transactions and bank transfers with your cryptocurrency 

If you’re only interested in investing and not transacting on the network, keep in mind that bitcoin isn’t a get-rich-quick scheme. Instead, think of it as a long-term investment or a way to diversify your portfolio.