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Three Under the Radar Cryptocurrencies

There’s no denying Shiba Inu (CRYPTO: SHIB) was a monster investment for cryptocurrency traders who got in early this year. However, given the meme coin’s limited utility beyond its novelty appeal, next year could be a different story. Shiba Inu has a bullish case to make, but more obscure digital currencies have more apparent growth paths.

Decentraland (CRYPTO: MANA), Terra (CRYPTO: LUNA), and Gemini Dollar (CRYPTO: GUSD) are three cryptocurrencies that merit more attention. They’re flying under the radar for the time being, but they all have more potential than Shiba Inu. Decentraland is a popular virtual realm based on blockchain technology. So far, Decentraland has approximately 300,000 monthly active players. People are free to roam the digital digs, but if you want to buy a plot of land, you must pay in MANA, the official in-world currency of Decentraland. Decentraland’s popularity should rise with the game as the experience’s official governance token. Because it is a cryptocurrency with real fundamentals, investing in gaming coins appeals to traditional investors. If the game continues to gain a following, its in-game currency should rise in value.

Terra

Terra is the native token of a stablecoin project powered by smart contracts. TerraUSD is a decentralized stablecoin that aims to trade as close to $1 as possible. If you’re familiar with it, then you’re already acquainted with Terra’s work. TerraUST has grown in popularity due to its current ability to generate up to 20% annual interest when staked through Terra’s Anchor savings and lending protocol. TerraUST catapulted into the mainstream by yield-chasing crypto traders. It is now the fourth-largest stablecoin in the country and the largest decentralized stablecoin. It brings us back to Terra, which has significantly benefited from the increased interest in TerraUST in more ways than one. When the demand for TerraUST rises, Terra must burn or retire to be replaced by TerraUST. Last month that Terra’s community pool burned for $4.5 billion.

Gemini Dollar

Stablecoins, such as TerraUSD, provide more consistent returns than volatile standard crypto tokens. The stablecoin can trade on various media, including the Gemini exchange, without trading fees.

Why would you want to own a stablecoin with a $1.00 price tag? The critical point here is that Gemini is willing to pay interest if you participate in the Gemini Earn program, allowing the platform to lend your cryptocurrency to accredited third-party borrowers vetted through a risk-management framework. Non-Gemini exchanges may even provide slightly higher interest rates for your Gemini Dollars. There are definite risks. However, we can expect it given the interest rates paid by Gemini versus a traditional bank’s interest-bearing savings account or CD.

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