5 of the Best Cryptocurrencies to Buy Now
Top cryptocurrency to purchase as global tensions rise.
The first few months of 2022 have undoubtedly been exciting. First, equities had their worst month since March 2020, pushing cryptocurrencies down with them. Then Russia launched an aggressive invasion of Ukraine, driving financial markets into additional upheaval as Western nations hope any similarities to Germany’s invasion of Poland in 1939 are exaggerated. In the midst of this upheaval, market experts, as usual, hold diametrically opposed opinions on cryptocurrencies. Is it nothing more than a covert money-laundering instrument that Russia will use expertly to avoid punishing sanctions? Is it a life-saving means for everyone in the world to fund Ukraine’s sovereignty defense? In reality, any broad explanation of cryptocurrency’s purpose is devoid of critical detail.
1-Bitcoin (BTC)
Most cryptocurrency investors will want to preserve a portion of their crypto allocation in Bitcoin, and the previous month is a solid indication of why. No one should consider digital assets to be safe-haven investments, but BTC is the closest thing to a blue-chip cryptocurrency available, as proven by its success in difficult times. Despite the recent instability, Bitcoin’s market dominance has increased from 42 percent to 43.1 percent, as more speculative and untested currencies have lost much of their shine. Although BTC has been trading below $40,000 for much of the year, the top cryptocurrency in the world is currently trading at $44,000 at the time of writing.
2-Ether (ETH)
There’s Bitcoin and Ethereum, and then there’s everyone else in the crypto realm. BTC and Ether (ETH) are the only two must-have cryptos since each has an along — at least in the realm of digital currencies — track record, a hard-earned brand name, and a loyal investment base. Unlike Bitcoin, the Ethereum network was designed to allow the brave new world of smart contracts and decentralized finance, or DeFi, probably one of the most potentially disruptive developments of the twenty-first century. DeFi eliminates the need for traditional financial intermediaries such as banks, brokers, and exchanges, allowing for fully “trustless” financial transactions. The most significant disadvantage of the Ethereum network, which is by far the most widely used blockchain network in the world, is the high cost of executing a transaction. However, this is a recognized issue, and developers are working tirelessly to bring the far cheaper and more energy-efficient Ethereum 2.0 network to fruition in the next year or so. Recently, a newly established decentralized autonomous organization, or DAO, collected $3 million in Ethereum for the Ukrainian army.
3-Solana (SOL)
While the Bitcoin vs. Ethereum discussion is interesting in its own right, it has an apples-and-oranges taste to it. Bitcoin is a more traditional peer-to-peer payment system, but Ethereum’s wider aims as a network enable decentralized programs to be developed on top of it, making it more infrastructure than money. A more legitimate argument, according to Solana, is over which network will emerge as the leader in decentralized finance. While Ethereum is clearly the current frontrunner, with a market capitalization of more than $360 billion, Solana is a top-10 cryptocurrency in its own right, with a $32 billion market value. More importantly, its network costs are far cheaper than Ethereum’s at the moment, therefore the longer it exists, the better.
4-FTX Token (FTT)
FTX is one of the largest cryptocurrency exchanges in the world, with an emphasis on institutional trading and cryptocurrency derivatives. The company provides options, swaps, and futures on some of the most popular cryptocurrencies, all while charging low, competitive costs. The platform’s primary currency is the FTX token, which has experienced spectacular growth in recent years as retail and institutional interest in digital assets has skyrocketed. Since the beginning of 2020, the token has increased by more than 2,000 percent, rising from $2.14 to almost $47 today. Purchasing FTT is not just speculation or a bet on a meme. It is a gamble on the FTX platform’s development and expanding network effects. In a fresh round of funding announced in January, FTX was valued at $32 billion.
5-The avalanche (AVAX)
When a market is large enough, numerous winners might emerge. This is true in the field of smart contracts and decentralized finance, where Ethereum is the dominating network, but blockchains like Solana and Avalanche are also competing for a piece of the pie. Since the beginning of 2021, Avalanche has risen more than 2,700%, rising from the low-$3 area to a price of $90. Every day that the much-anticipated Ethereum 2.0 network does not launch is a triumph for low-fee Ethereum rivals like Avalanche and Solana. AVAX is a top-10 cryptocurrency in terms of market capitalization, with a total worth of more than $22 billion. Avalanche’s market share has increased from 0.1 percent to 1.1 percent in the previous year.
The following are the top cryptocurrencies to invest in right now:
Bitcoin (BTC)
The element ether (ETH)
Solana (SOL)
Token FTX (FTT)
The avalanche (AVAX)
Uniswap Binance Coin (BNB) (UNI)
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