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Home Cryptocurrency

Top 5 coins to benefit from in short term

by Hover Phenix
1 year ago
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Today, it is easier for humanity to predict the next tropical hurricane than the reaction of the cryptocurrency market to certain events. The spring of 2022 turned out to be the complete opposite of autumn 2021. In May, the total cryptocurrency market capitalization reached an all-time low of $1.31 trillion.

The hottest news of May was the collapse of Terra (LUNA) and its daughter stablecoin TerraUSD (UST). Both tokens lost almost 100% of their value.

Against the backdrop of such a massive market decline and numerous pessimistic forecasts, investing in cryptocurrency looks like a dubious idea. However, the adoption of cryptocurrencies and their integration into the global economy is just beginning to gain momentum. That is, the current temporary recession will inevitably be followed by a period of growth.

The profitability of an investment depends on many factors, and the successful choice of an asset takes pride of place in their list. What coins do experienced investors recommend?

Bitcoin (BTC)

The patriarch of the cryptocurrency market consistently takes first place in any rankings. Perhaps that established reputation represents one of the best fall protection compared to other digital coins. And this in a falling market is even more important than the growth potential.

In addition, the rate of BTC decline has now slowed down, and the growing market acceptance and interest of institutional investors give grounds for an optimistic assessment of the long-term prospects of the coin.

Ether (ETH)

Ethereum consistently holds the second position in all key market indicators. If Bitcoin was created as an alternative means of payment, then the Ethereum platform became the founder of a new type of financial system. Unlike Bitcoin, the Ethereum blockchain offers users the technical capabilities to create and deploy decentralized applications, smart contracts, non-fungible tokens, and their own cryptocurrency projects.

Experts do not exclude that after the transition of the blockchain from the Proof-of-Work consensus mechanism to the more economical and fast Proof-of-Stake, Ethereum will quickly catch up with Bitcoin or even displace it from the first line of the rating. It is also important that trading Ethereum against Bitcoin is available on almost all cryptocurrency exchanges (not to be confused with trading and exchanging BTC to ETC), which makes it possible to respond as quickly as possible to a change in the situation.

Solana (SOL)

This coin has become one of the “stars” of last year, demonstrating a fantastic growth rate. SO runs on its own layer 1 blockchain. The coin literally broke into the TOP 10 largest cryptocurrencies. Among Solana’s success factors is a convenient, actively developing ecosystem. Functionally, the platform resembles Ethereum, but many times surpasses it in terms of transaction processing speed and scalability. Many investors see SOL as a potential serious competitor to Ethereum. Now the coin will go through difficult times in sync with the entire market, but its prospects look quite optimistic.

Avalanche (AVAX)

Avalanche is another blockchain that claims to be part of the DeFi and smart contracts segment. In 2021, the native token of the network has grown by more than 500%. The longer the transition of Ethereum to the Proof of Stake algorithm is delayed, the more chances there will be for its younger and more technically advanced competitors, to which AVAX belongs.

Avalanche already has a viable ecosystem, and its medium to long-term outlook remains attractive to investors with strong nerves.

Binance coin (BNB)

The main argument in favor of investing in BNB is the reputation and role of the Binance cryptocurrency exchange in the development of the crypto space. Today, the exchange is the absolute leader in terms of trading volumes. In addition, the team has already launched a number of successful decentralized projects. The active development of the ecosystem gives reason to take a closer look at BNB.

Before investing in cryptocurrencies, it is important to do your own market research and assess the risks yourself. Any rating is nothing more than a personal opinion, which may turn out to be erroneous. Experienced investors strongly recommend investing no more than 5% of the total investment portfolio in cryptocurrency.

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