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Altcoins to buy: these 15 little-known and undervalued tokens could experience an ether-style surge due to significant developer interest, according to Bank of America

Altcoins to buy: these 15 little-known and undervalued tokens could experience an ether-style surge due to significant developer interest, according to Bank of America

Bank of America said that the Ethereum network hosts more blockchain projects than Polkadot, Cardano, and XRP combined.
Photo Illustration by Omar Marques/SOPA Images/LightRocket via Getty Images




Bank of America has started covering the $2.1 trillion digital assets industry.




The bank calculated the number of blockchain projects hosted on major and minor cryptocurrencies.




Insider lists the top 15 lesser-known cryptos by developer interest level.




See more stories on Insider's business page.


Bank of America now sees the cryptocurrency sector as too large to ignore."We believe crypto-based digital assets could form an entirely new asset class," Alkesh Shah, the bank's head of crypto and digital assets strategy, said. "Bitcoin is important, with a market value of around $900 billion, but the digital asset ecosystem is so much more."Shah's report marked the beginning of Bank of America's formal coverage of the sector, with the bank estimating that 221 million users trade a cryptocurrency, or use a blockchain-based application, each month. Digital asset-related venture capital funding rose to $17 billion in the first half of 2021, compared to just $5.5 billion last year, and mergers and acquisitions jumped to $4.2 billion, up from $940 million in 2020.The bank has introduced developer interest as one potential metric to measure whether a coin or token is over- or undervalued. Analysts said this demonstrates the dominance of the ethereum network and its native token, ether.
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