Top 5 Cryptocurrencies of 2019 so far. Why are they doing so well?

Top 5 Cryptocurrencies of 2019 so far. Why are they doing so well?

Binance Coin (BNB)

Binance Coin is a cryptocurrency launched by the biggest cryptocurrency exchange in the world: Binance. The aim of BNB is to support the exchange.

The coins have several use cases: lower fees (listing, exchange, withdrawal), higher referral bonuses for holders, as a market, to contribute to ICOs and in the future as a fuel for the decentralised version of Binance.

Binance exchange has been the most reliable and user friendly for a long time which was reflected in the BNB price since it has been very well incorporated within the exchange.

Current price: $15.12 ATH: $24.37, Drop: -38%, Mcap: 7th place

My opinion: BNB seems to prove that coins with actual use cases can increase demand, the valuation is quite high currently however. Still, Binance domination should insure constant demand.

Holo (HOT)

Holochain represents an alternative for blockchain technology that provides its users with distributed computing and applications using HoloPorts. HoloPorts allow the network to scale due to the network load being offloaded across all of the nodes linked to the network

Holoports are basically the network nodes and the project will be using Holo fuel.

Once the Holo ecosystem launches the HoloTokens will be redeemed for Holo fuel. The Holo is currently at the Closed Alpha so the demand is mostly based on speculation and potential increase once the live platform is launched.

Current price: $0.0011, ATH: $0.0020, Drop: -43%, Mcap: 40th place

My opinion: Holo has a lot of promising features but it's still far from implementation so it's mostly based on speculation. Because of that I would wait with investment.

Enjin Coin (ENJ)

Enjin is aiming to be a decentralized platform to create, manage, distribute, and trade virtual goods. Giving game developers and content creators a new model of virtual ownership.

The platform allows minting unique in-game items, currencies, and virtual tokens using Enjin Coins as the parent currency.

Enjin has been very busy this year with plenty of apps and solution that include Enjin Wallet, EnjinX Explorer & API, Game Design SDKs, Enjin Network and other.

Current price: $0.18, ATH: $0.46, Drop: -60%, Mcap: 43rd place

My opinion: I have always been bullish on Enjin since they were one of the few ICOs that actually had a significant product before and through development this year they are proving that not all ICOs are scams. However the recent incrase was crazy so thats something to consider.

Maker (MKR)

Maker Token is used to govern the functionalities of all the Maker projects,

Currently the most renowned project is the creation and development of the stable coin named DAI which is the core currency of the MakerDAO system. The coin’s value is pegged to that of USD, in simpler words, 1 USD = 1 DAI.

DAI is considered one of the most legit stablecoins and the only one that is truly decentralised. Maker and Ethereum have both been used in the process of ensuring DAI price. Through the governane MKR also can generate passive income.
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Current price: $707, ATH: $1,799, Drop: -61 % , Mcap: 16th place

My opinion: Maker and DAI are one of the best application of cryptocurrency where users can use smart contracts that act as a loan. Still currently the success is deeply connected to how resilient DAI can be.

Chainlink (LINK)

Launched by the fintech company SmartContract, Chainlink is described by its developers as a secure blockchain middleware that intends to connect smart contracts across blockchains by allowing smart contracts to access key off-chain resources such as data feeds and web APIs

ChainLink Network is a decentralized network of ChainLink Nodes, which are all selling usage of specific data feeds, APIs and various off-chain payment capabilities directly to a smart contract.

Chainlink is moving quickly with the development and is already used by different companies in real life scenarios.

Current price: $0.48, ATH: $1.45, Drop: -67 % , Mcap: 35th place

My opinion: Just like with Enjin Chainlink proves that real life usage create demand for tokens but the current valuation is quite high.