Top 3 Cryptocurrencies to Invest in Right Now
The first few months of 2022 have been full of surprises. First, stocks had their worst month since March 2020, which dragged cryptocurrencies down with them. Then Russia launched an unprovoked invasion of Ukraine, further destabilising financial markets while Western nations hope any similarities to Germany’s 1939 invasion of Poland are exaggerated. In the midst of this turbulence, market experts are taking wildly diverse opinions on bitcoin, as they always are. Is it just a covert money-laundering instrument that Russia will deftly employ to avoid devastating sanctions? Is it a life-saving means for anyone anywhere to fund Ukraine’s sovereignty defence? In reality, any broad explanation of cryptocurrency’s purpose is devoid of critical complexity, and even war will not be able to wipe out this $2 trillion asset class. As the current top cryptocurrency news, these are seven of the most attractive cryptocurrencies to invest in right now.
Bitcoin (BTC)
Most cryptocurrency investors will want to preserve a portion of their holdings in Bitcoin, as seen by the past month’s performance. Although no one should consider digital assets to be safe-haven investments, BTC is the closest thing to a blue-chip cryptocurrency available, as proven by its success through difficult times. Bitcoin’s market dominance has expanded from 42 percent to 43.1 percent during the last month, while more risky and unproven coins have lost much of their shine. Despite spending much of the year below $40,000, Bitcoin is now trading above $44,000 at the time of writing.
Ether (ETH)
There’s Bitcoin, Ethereum, and then there’s everyone else in the crypto realm. BTC and Ether (ETH) are the only two cryptos that should be owned, as each has a long – at least in the world of digital currencies – track record, a loyal investment base, and a hard-earned brand reputation. Unlike Bitcoin, the Ethereum network was designed to support the brave new world of smart contracts and decentralised finance, or DeFi, which is perhaps one of the most disruptive inventions of the twenty-first century. DeFi permits traditional financial middlemen such as banks, brokers, and exchanges to be removed from the equation, theoretically enabling true “trustless” financial transactions. The high cost of completing a transaction is the most significant disadvantage of the Ethereum network, which is by far the most widely used blockchain network on the planet.
Solana (SOL)
While the debate over Bitcoin vs. Ethereum is interesting in and of itself, it has an apples-and-oranges flavour to it. Ethereum’s grander ambitions as a network allow decentralised apps to be built on top of it, making it more infrastructure than currency. Bitcoin is a more archaic peer-to-peer payment system, and its grander ambitions as a network allow decentralised apps to be built on top of it, making it more infrastructure than currency. A more suitable discussion would be about whose network will emerge as the decentralised financial leader, which is where Solana comes in. While Ethereum is clearly the current leader, with a market capitalization of more than $360 billion, Solana is a top-10 cryptocurrency in its own right, with a market worth of $32 billion.
