Analyst Emma Newberry claims that 5 altcoin projects known as Ethereum killers will mark this year. According to the analyst, these altcoins are Solana, Avalanche, Cardano, Elrond and Tezos.
One of the best performing altcoins of 2021 according to Emma Newbery, Solana stands out as the fastest growing ecosystem supported by the ever-growing list of apps on its network. Newberry states that a big reason for Solana's stunning growth is its speed. However, there is growing concern that Solana is not quite ready for the exponential growth seen. In September, a load spike was blamed for a 17-hour outage and has had a number of issues since. According to Fortune, the altcoin suffered a total of six outages over eight hours in January.
Like Solana, Avalanche saw dramatic growth last year, according to the analyst. The altcoin's price is up over 3,000 percent, currently ranking tenth in terms of market cap. Avalanche has a total locked value (TVL) of almost $11 billion. According to DeFi Llama, this level puts AVAX in fourth place in terms of the amount of money people have invested in projects run within the Avalanche ecosystem.
Cardano has been taking a research-intensive approach to development for several years now. According to the analyst, this means that it is much slower to propagate technical developments compared to other blockchains. Newberry states that one of the things that distinguishes Cardano from other cryptocurrencies is its broad vision. She wants to use Blockchain technology to redistribute power and be a positive force for change, she says. Price-wise, Cardano was struggling even before the broader market crash. One reason for this, according to the analyst, is that very few altcoin projects are actually running on its network, even after the smart contract launch.
According to Emma Newbery, Elrond is not yet listed on several top cryptocurrency exchanges in the US. Elrond, a scalable, fast blockchain that is also focused on interoperability, launched a decentralized exchange called Maiar last summer, which currently lists only a few tokens. Recently, Elrond said it will introduce a new metaverse-focused decentralized finance function called metastaking. That's why Newbery states that it could be a good altcoin to have on investors' radar in the coming year.
Besides, according to analyst Emma Newberry, Tezos did not grow as fast as other smart contract cryptos last year. This eco-friendly blockchain experienced some leadership issues after the ICO in 2017, which led to a $25 million legal settlement. Altcoin recently announced a partnership with Manchester United football club. The price of Ethereum has dropped more than 20 percent since the start of the year, while Tezos has dropped just 15 percent.