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Thursday, June 1, 2023

Top Cryptocurrencies To Buy And Hold Right Now

Top Cryptocurrencies To Buy And Hold Right Now – Only one year, 2014, has seen the global market capitalization of cryptocurrencies drop in the last ten years. Past performance isn’t usually indicative of future performance, and it’s true that the epidemic era saw some irresponsible crypto speculation, with digital asset fraud reaching an all-time high in 2021.

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Crypto, on the other hand, is rapidly becoming more widespread, and while regulation is a risk, it’s also one of the largest bull cases, as digital assets are legitimized by strict standards from governments throughout the world.

Also Read: Crypto Mining In Thailand Is Booming After Chinese Ban 

Here’s a look at five of the top cryptocurrencies to buy and hold right now

top cryptocurrencies to buy and hold right now

1. Bitcoin (BTC)

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Bitcoin is the greatest cryptocurrency by market size and the most well-established store of value in the asset class, making it a must-have for any crypto investor.

The coin, which celebrated its 13th birthday on Jan. 3, has a market capitalization of about $900 billion. It’s really the only digital money with a U.S. exchange-traded fund that tracks its fluctuations and accounts for approximately 40% of the total value of the cryptocurrency market.

BTC is the most mature cryptocurrency in its class and a required investment for the crypto-curious. Companies like MicroStrategy Inc. (MSTR) and Tesla Inc. (ticker: TSLA) have BTC on their balance sheets.

2. Ethereum (ETH)

Despite being a distant second to Bitcoin in terms of market capitalization, Ethereum, which accounts for roughly 20% of the global market, is arguably on the verge of overtaking Bitcoin in terms of prominence.

That’s because it serves a purpose other than just a store of money, with the Ethereum network easily claiming the title of most widely used blockchain on the planet.

Ethereum’s native currency, Ether (ETH), is one of the finest cryptocurrencies to buy because it supports smart contracts, nonfungible tokens, and even other cryptocurrencies.

When it switches from the proof-of-work to the proof-of-stake protocol, ETH will become significantly more energy-efficient than Bitcoin, removing the far more energy-intensive need to validate transactions on the blockchain through complicated computing operations.

3. Solana (SOL)

Whilst Ethereum will soon handle some of Bitcoin’s energy difficulties, Solana has tackled one of Ethereum’s main problems: transaction costs.

Small Ethereum transactions are financially untenable due to these “gas fees,” however Solana’s fees are a fraction of ETH fees.

Solana, like Ethereum, was designed to be a top-tier platform for decentralized finance, or DeFi, which eliminates financial middlemen, traditional financial gatekeepers, and organizations such as banks, brokers, and centralized exchanges.

Solana, which was launched in 2020, has a tiny but growing market share, with the coin’s value rising from $1.51 at the start of 2021 to more than $160.

Also Read: Jack Dorsey’s –  Block Officially Building Open Bitcoin Mining System

top cryptocurrencies to buy and hold right now

4. Cardano (ADA)

Cardano is one of the biggest blockchains to successfully operate the more energy-efficient proof-of-stake protocol, having been founded in 2017 by Ethereum co-founder Charles Hoskinson.

Cardano intends to create a developer-friendly decentralized application (dApp) environment. Cardano, unlike Ethereum, has a hard limit on the amount of coins that can ever exist, which is set at 45 billion.

Fortunately for investors, 33.5 billion, or roughly 74%, of that supply is already in circulation, implying that the amount of dilution left is both predictable and limited. Cardano has risen from 22 cents to almost $1.30 in the previous year, making it one of the finest cryptocurrencies to invest in right now.

5. Dogecoin (DOGE)

Yes, Dogecoin is well-known as a meme-inspired cryptocurrency that started off as a joke. But, first and foremost, being a meme token is far from an indictment in the crypto world, where Dogecoin and Shiba Inu both rank in the top-15 in terms of market valuation.

However, there is a serious reason why Dogecoin is one of the best cryptocurrencies to invest in right now: Elon Musk is a true believer, not just an ironic fan, as he was stated to be during Dogecoin’s epic rally in 2021, and the Tesla CEO stated as much in an early January podcast with Lex Fridman.

Given Musk’s clout in the cryptosphere, it’s surprising that there hasn’t been a price reaction yet.
Dogecoin could see some short-term increases if mainstream media takes up on Musk’s enthusiasm with the currency again soon or if the unpredictable billionaire makes his adoration for the currency more public once more.

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