Cryptocurrencies had grown in value since their humble beginnings in 2009, when Bitcoin, the world’s most prominent cryptocurrency, was founded and launched as the first decentralized cryptocurrency, with a market capitalization of more than $1 trillion by the end of February. Bitcoin’s value has increased by more than 193,000% since 2012, hastening the creation of hundreds of various forms of cryptocurrencies. The cryptocurrency market is predicted to reach $1 trillion in value by 2026.

Crypto-related ventures are, without a doubt, some of the hottest commodities in the technological market. Many large corporations support crypto startups to integrate groundbreaking new technology into their platforms or simply gain exposure to the industry. This list includes big tech names like Alphabet Inc. (NASDAQ: GOOG) and Amazon.com, Inc. (NASDAQ: AMZN), as well as payments giant PayPal Holdings, Inc. (NASDAQ: PYPL). Cryptocurrency is attracting hedge funds and retail investors alike.

Alphabet Inc. (NASDAQ: GOOG) has made a strategic investment in Blockchain.com, one of the world’s leading online crypto marketplaces. Jeff Bezos, the founder of Amazon.com, Inc. (NASDAQ: AMZN), has invested in Chipper Cash, a fintech startup founded in Africa that has quickly acquired traction across the continent and is now expanding internationally.

PayPal Holdings, Inc. (NASDAQ: PYPL) said earlier this year that it was in the process of allowing hundreds of millions of its users to pay with cryptocurrencies on its platform. As institutional investments boost consumer confidence in crypto offers and it becomes evident that crypto is the future of financial services in a digital world, businesses that aim to tackle crypto-related market challenges have grown in popularity.

Investors should keep an eye on cybersecurity, health, and currency exchanges, as they all have enormous growth potential in the crypto sector. It remains to be seen if the rest of the financial industry, which is still based on fiat, will weather these headwinds. The new financial landscape is reverberating throughout the hedge fund business. Its image has been tarnished in the recent decade when its hedged returns failed to keep up with the market indices’ unhedged returns. Since February 2017, we’ve been tracking and distributing the list of these stocks, and they’ve lost 13% as of November 16th. As a result, we believe hedge fund sentiment is a valuable indication that investors should monitor. 

With this in mind, we’ve compiled a list of the top five cryptocurrency businesses to keep an eye on. These businesses were chosen based on the crypto-related challenges they hope to tackle, the quality of their products or services, and the fundamental business model that underpins their earnings philosophy.

Here are the top 5 cryptocurrencies to watch for – 

1. Fetch.AI 

Fetch. AI Limited is a company that sells artificial intelligence (AI) solutions for blockchain networks. The startup introduced a new version of its Mainnet network in late March with 30 validators, including Outlier Ventures, Forbole, and InfStones. In three fundraising rounds, the company has raised more than $26 million. GDA Group and Outlier Ventures-backed these rounds. The company is situated in the United Kingdom, and it is ranked number eight on our list of the top ten cryptocurrency startups to keep an eye on.

Baidu, Inc. (NASDAQ: BIDU), the Chinese technology company that manages the country’s main internet search engine, is another company with a booming artificial intelligence sector. Baidu, Inc. ‘s (NASDAQ: BIDU) artificial intelligence segment was recently deemed cheap by investment advisory Daiwa.

In the first quarter of 2021, 89 hedge funds in Insider Monkey’s database held holdings in Baidu, Inc. (NASDAQ: BIDU) worth $6.5 billion, up from 51 in the previous quarter worth $4.6 billion. Baidu, Inc. (NASDAQ: BIDU), like Alphabet Inc. (NASDAQ: GOOG), Amazon.com, Inc. (NASDAQ: AMZN), and PayPal Holdings, Inc. (NASDAQ: PYPL), is one of the finest crypto stocks to keep an eye on.

2. Provenance 

Provenance is a corporation that promotes product and supply chain transparency. It runs software that combines blockchain, mobile, and other open data sources to offer users information about product origins, tracking, and impact. It has raised more than $1.2 million in five rounds of fundraising.

Some of the company’s major investors are Digital Currency Group and Working Capital Fund. The San Francisco-based company is ranked seventh on our list of the top ten bitcoin startups to watch. MongoDB, Inc. (NASDAQ: MDB), a software company that provides commercial support for open-source databases, follows a similar business strategy to Provenance. MongoDB, Inc. (NASDAQ: MDB) reportedly topped earnings per share and sales expectations for the first quarter of 2021.

According to Insider Monkey, Whale Rock Capital Management, a Boston-based investment firm, is the largest shareholder in MongoDB, Inc. (NASDAQ: MDB), with 1.2 million shares worth more than $338 million. MongoDB, Inc. (NASDAQ: MDB), like Alphabet Inc. (NASDAQ: GOOG), Amazon.com, Inc. (NASDAQ: AMZN), and PayPal Holdings, Inc. (NASDAQ: PYPL), is one of the finest crypto stocks to keep an eye on.

3. Bitwise 

Bitwise Asset Management is a cryptocurrency index fund manager that allows investors to invest in cryptocurrencies. The fund raised $70 million in a Series B funding round sponsored by industry heavyweights like Stanley Druckenmiller, CEO of Duquesne Capital, and David McCormick, CEO of Bridgewater Associates. The crypto fund, which manages over $1.2 billion in assets, has big aspirations for the coming months, with CEO Hunter Horsley aiming to double his team size by the end of the year.

The support of organizations such as Duquesne Capital, a renowned investment business in the United States with more than $3 billion in assets under management, will help crypto-related offers gain traction. Microsoft Corporation (NASDAQ: MSFT), a major holding of Duquesne Capital, is positive on the crypto market as well. With 23.3 million shares worth more than $5.2 billion, Washington-based investment company Fisher Asset Management is the largest stakeholder in Microsoft Corporation (NASDAQ: MSFT) among the hedge funds tracked by Insider Monkey. Microsoft Corporation (NASDAQ: MSFT), like Alphabet Inc. (NASDAQ: GOOG), Amazon.com, Inc. (NASDAQ: AMZN), and PayPal Holdings, Inc. (NASDAQ: PYPL), is one of the finest crypto stocks to watch.

4. CoinSwitch Kuber 

CoinSwitch Kuber is a cryptocurrency exchange based in India that primarily facilitates bitcoin transfers. Tiger Global Management LLC, a New York-based hedge fund with $43 billion in assets under management, invested $25 million in the firm in late April. The company is now valued at over $500 million, thanks to the recent funding. 

A partner at the hedge fund, Scott Shleifer, told Indian news outlets that the fund is excited to collaborate with a firm that is ideally positioned to profit from the country’s crypto surge among ordinary investors. The crypto exchange had previously received funds from Fred Ehrsam’s investment business, Paradigm. Ehrsam is Coinbase Global, Inc. (NASDAQ: COIN), the world’s largest cryptocurrency exchange. Coinbase Global, Inc. (NASDAQ: COIN) went public in April in one of the year’s largest IPOs, with a market cap of $86 billion on the first day of trading.

Many investing gurus have given Coinbase Global, Inc. (NASDAQ: COIN) optimistic recommendations in recent weeks, even though crypto equities have fallen in tandem with the price of Bitcoin. Coinbase Global, Inc. (NASDAQ: COIN), like Alphabet Inc. (NASDAQ: GOOG), Amazon.com, Inc. (NASDAQ: AMZN), and PayPal Holdings, Inc. (NASDAQ: PYPL), is one of the finest crypto stocks to watch.

5. Solve.Care 

Solve.Care is a healthcare and associated services firm that sells a decentralized blockchain platform. The company uses a smart blockchain contract to connect patients with health specialists and to organize all types of benefits, care packages, and payments inside the system. It has attracted the support of several large insurance companies since its platform may be used to rapidly and cheaply resolve various types of insurance claims. The startup has raised $30 million in two rounds of funding thus far. In the first quarter of 2021, 42 hedge funds in Insider Monkey’s database held holdings in Teladoc Health, Inc. (NYSE: TDOC) worth $3.3 billion, down from 50 in the previous quarter worth $2.6 billion.