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Top 5 Favorite Alt Coins by Kraken

Top 5 Favorite Alt Coins by Kraken

The crypto market is undoubtedly in its class in terms of complexity and volatility. While Bitcoin (BTC) is at the top with market shares around 60 percent. The rest of the market is shared with other types of cryptocurrencies and called altcoins.

Recently, Kraken published a study to identify the market sentiments and expectations. The respondents are required to provide their five favorite altcoins, here are their top 5 altcoins.

The respondents listed Ethereum (ETH) as the most preferred altcoin, followed by Monero (XMR), Ripple (XRP), Litecoin (LTC), and Tezos (XTZ).

ETH is the second-largest by market valuation behind BTC. However, looking at the rest of the list, it shows that cryptocurrency is not all about the monetary value but also real case practicality.

XMR, for example, is known for its privacy features, such as hidden payments and balance, application-specific integrated circuit (ASIC) resistance, and strong anonymity. 

At third place based on the market cap behind ETH is XRP. Ripple, the firm behind XRP is actively collaborating with financial institutions around the world in facilitating cross-bank settlements.

BTC is known to the community as the digital gold, while LTC is the digital silver. LTC performs transactions much faster and with high merchant adoption.

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Lastly, XTZ offered features in terms of security and scalability. The significant features are asset tokenization, Security Token Offerings (STO), and its unique upgrades procedure.

These five altcoins have stood to the test of time and market volatility. Other than that, the development team behind each altcoin has proven its commitment and accomplishments towards the crypto community.

In case you wanted to trade using Kraken, we have the perfect guide for you. Check the post here.

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