Bitcoin is undisputed king of the cryptocurrency market. However, the changing world order is set to deliver new replacements.
Being the most popular and the largest cryptocurrency, it comes as no surprise that Bitcoin is every investor’s first choice in the decentralized finance market. However, this doesn’t eliminate the presence of other cryptocurrencies that can actually give BTC, run for its money.
Bitcoin, undoubtedly stands at the helm of cryptocurrency market with a jaw dropping surge of more than 48,22,525% since the time it hit $1. It currently accounts for $916.6 billion of market value.
- Despite the global crackdowns, the bull spike in the price of BTC raise the price prediction to $180,000 by end of 2021.
- Emerging ETFs leveraging Smart Contracts in the energy sector are already registering off-the-chart gains.
- ETFs investing in the offset of energy emission set to make big gains in the wake of climate change code red.
- Ethereum set to be the next biggest cryptocurrency in the market, replacing Bitcoin.
However, the pace of Bitcoin’s remarkable success is gradually slowing as new competitors with similar kickstart as BTC are outperforming market expectations. Interestingly, these rivals don’t just come from the crypto market but also outside. ETFs, especially the one invested in offset of energy, along with Ethereum are increasingly replacing Bitcoin as the undisputed tsar of the financial market.
THE NEW CRYPTO GOLD MINE-
While mentioning the names of Bitcoin’s biggest competitors, some surprisingly new and lesser known names make it to the list. These include Grayscale Ethereum Classic Trust (ETCG) and Grayscale Ethereum Trust (ETH). There one-year return- more than 800% and 600% respectively.
So what is Grayscale Bitcoin Trust? It is an investment fund that gauges the rise and lows of Bitcoin. In the past 12 months, the fund has exhibited a remarkable return of 300%. This ranks it at a winner pedestal of rank 5 among the list of all ETFs.
Talking of Grayscale Ethereum Classic, this fund is taking even bigger leaps. It surged over 1000% in the last 12 months.
Apart from these, there is another emerging winner in the market, Breakwave Dry Bulk Shipping ETF (BDRY). This year’s return of this ETF are already 255%, outperforming even the gains of Grayscale Bitcoin Trust in the same time duration.
The major mobiliser in the demand of this ETF is its sensational shipping demand and pricing power for increasing goods globally. It basically tracks the rate for shipping of commodities like coal and iron ore using future contracts, like Smart Contracts.
ETFS INVESTING IN ENERGY OFFSET ARE ANOTHER MAJOR WINNERS.
Now that climate change is on the verge of engulfing the world and world is swiftly moving towards saving the planet, ETFs that are invested in limiting the energy consumption.
One big player in this direction is VelocityShares 3x Long Natural Gas ETN which is already 250% up in this current year. This competitor is followed by ProShares Ultra Bloomberg Natural Gas (BOIL), exhibiting 130% increase in the value in the current year.
Another ETF that is single-handedly capable of topping spike in the Bitcoin prices is iPath Global Carbon ETF (GRNTF). The fund is almost 90% up in the current year. This fund basically leverages Smart Contracts on the emission credits companies on the European Climate Exchange.