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- Solana leads with lightning-fast transactions and a market cap of $74.53 billion, gaining significant attention for its scalability solutions.
- Dogecoin has seen a 73.67% rise in network usage, supported by a strong community and celebrity endorsements from Elon Musk.
- Stellar continues to transform cross-border transactions with its low-cost, energy-efficient blockchain, valued at $2.94 billion.
The crypto market is filled with altcoins and is showing excellent signs of development. Here, we look at the frontrunners in this category, including Solana, Dogecoin, and Polygon. Kaspa, and Stellar. These cryptocurrencies enjoy scalability, speed increases, and other use cases that put them well in front as the apparent market leaders.
Solana(SOL): Continues Higher
Current price:$135.96
Market cap:$62.7B
Since its discovery launch, Solana has become the beloved of many crypto investors due to its ultra-fast transaction times and very low fees. Its market cap is $74.53 billion. This digital currency’s blockchain focuses on solving scalability issues that provide fast and smooth transactions. With ever-growing ecosystems and a developer-friendly platform, it remains in most people’s attention and hence is a good investment choice.
Dogecoin (DOGE): Retains Popularity
Current price:$0.1016
Market cap:$14.9B
Initially a meme token, Dogecoin still sees very volatile yet rewarding activity. Although criticized for utility and a centralized holder base, DOGE network usage has been growing recently. This has been further helped by support from celebrities like Elon Musk. For now, on August 26, 2024, Dogecoin changes hands at $0.1093, as the market cap rests at $15.94 billion. The cryptocurrency is up by 73.67% in the last year, proving resilient.
Polygon(Matic): Brings Calmness Against Ethereum’s Scaling Problem
Current price:$0.3696
Market cap:$1B
Polygon has carved a function in the market as one of the large layer-2 scaling solutions for the Ethereum blockchain. For now, it is working toward reducing the cost of transactions and helping the Ethereum blockchains with their scalability factor. Trading at $0.5206, Polygon has a market financed of $5.18 billion and stands among the top 25 cryptocurrencies. Besides giving developers all they need to extend blockchains, the cryptocurrency provides a powerful chain on top of which the developers can further build scalable blockchain networks.
Kaspa(KAS): Aims to Overcome Challenges of Blockchain
Current price:$0.1424
Market cap:$3.5B
Launched in 2021, Kaspa is implementing the GHOSTDAG protocol to enhance transaction speed and improve transaction security. Market capitalization stands at $4.15 billion. It is another blockchain that’s battling the so-called blockchain trilemma: how to balance security, scalability, and speed. Recent developments highlight its ambitious plans for integrating the ASIC miners and releasing the Kaspium mobile wallet that will put Kaspa in the league as the cryptocurrency to watch in the next few years.
Stellar(XML): This is the cryptocurrency-transforming money transfer
Current price:$0.08833
Market cap:$2.6B
Stellar is a decentralized, public blockchain made for low fees and speedier money transfers. Its network enables peer-to-peer transactions; thus, many consider Stellar an excellent platform for cross-border payments. The new features Stellar developed recently further strengthened its standing in the crypto space, including Soroban and Stellar Aid Assist. With its market cap at $2.94 billion, Stellar’s focus on security and usability is the reason it’s