In the digital currency and blockchain worlds, life moves a mile per minute. Aside from the biggest names, like bitcoin and ethereum, it's common for the latest and flashiest cryptocurrencies to be the ones that are on investors' minds. In most cases, a new entrant into the space gets one chance to make it big; if it can manage a prominent ICO or a major partnership, say, or listing on a popular exchange, it may skyrocket to the top of the list of digital currencies.
Otherwise, it's likely to be resigned to a lifetime of middling status. That has generally been the trend throughout the past few years as the digital currency world has grown exponentially. Now, though, two altcoins that are ancient by the standards of the industry are showing signs of renewed popularity.
According to a report by Crypovest, peercoin (PPC) is one of two relatively old coins that has risen in prominence recently. Earlier this month, peercoin launched the Peercoin Foundation, generating headlines other than those associated with the digital asset prank PiedPiperCoin. When PiedPiperCoin was generated using the same ticker as peercoin, the real cryptocurrency got a boost. Now, with confusion out of the way, peercoin is free to set its own path. PPC is notable because it is the original proof-of-stake digital currency and for paying out 1% annually to minters. As of now, PPC is the 195th largest digital currency, with a market cap of around $54.7 million. Nonetheless, the coin climbed to a high of more than $73 million in market value earlier this month.
Another digital asset that could be staging a return is namecoin (NMC). Earlier in May, NMC developers suggested that the coin could be an integral part of the development of a decentralized internet. As this has long been an aim of many members of the digital currency community, NMC stands to benefit significantly if this can come to pass. As of this writing, however, NMC is down slightly in value from where it traded at the time of that announcement. If nothing else, this is a reminder that, new or old, digital currencies still see their values change dramatically and on short notice.
Investing in cryptocurrencies and Initial Coin Offerings ("ICOs") is highly risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies or ICOs. Since each individual's situation is unique, a qualified professional should always be consulted before making any financial decisions. Investopedia makes no representations or warranties as to the accuracy or timeliness of the information contained herein. As of the date this article was written, the author owns bitcoin and ripple.