Top 5 cryptocurrencies to invest in right now
One of the most exciting things about the world of cryptocurrencies, is the sheer variety of projects that have been launched in recent years. While the price movements of a handful of currencies tend to receive the majority of the attention in the media, this ultimately ignores the many exciting developments present in the industry right now.
If you have found yourself obsessively checking the Ethereum price or the Bitcoin market movements in recent months, this short article will help you to move beyond the major cryptocurrencies. Doing so will not only help you to diversify your cryptocurrency portfolio, but it will also give you an overview of some of the most exciting projects out there at the moment.
With that said, let’s take a look at some of the best cryptocurrency projects to invest in right now!
Although we said we were going to look beyond the major and most popular crypto projects in this article, we couldn’t help but mention Ethereum as one of the most exciting projects to invest in right now. While Ethereum is the second most popular cryptocurrency in terms of total market capitalization, we still think it is undervalued at its current price given how much potential it has.
Both as a digital currency and a blockchain development platform, Ethereum is the golden child of crypto developers. This is because of the wide variety of potential applications for ETH that exist. In particular, the ‘smart contracts’ system has an almost endless number of possible real-world applications.
The Ethereum project is also due some major upgrades in the coming months, which will take the project to a whole new level in terms of its usability. With that said, we will likely see a surge in price in the coming months as these upgrades come online.
Since bursting onto the crypto scene in 2021, Solana has had a wild ride to become one of the biggest cryptocurrencies by total market capitalization.
Despite undergoing some severe downward price movements in 2022, which is similarly true of most cryptocurrencies, things are still looking relatively bright for Solana. This has been helped by delays in bringing the planned upgrades to the Ethereum network online, given that Solana runs on its own network unlike many other crypto projects.
Solana has many potential applications to power decentralized finance and decentralized apps, as well as smart contracts.
Binance Coin (BNB)
While you will likely have heard of the cryptocurrency exchange Binance, which is one of the largest and most popular crypto exchanges, you might not have realized that this popular platform has its own native cryptocurrency.
Binance Coin is a cryptocurrency that you can use to trade and, perhaps most importantly, to pay fees on the Binance exchange. Since it was launched in 2017, however, it has grown from being an easy way to pay exchange fees on the Binance platform to being a decent cryptocurrency in its own right.
It can now be used to trade, process payments and even make travel bookings. This has helped it to surge in value, which has been accelerated by the growth of the Binance platform itself.
A relative latecomer compared to some of the other prominent coins, Cardano came to prominence for its early application of proof-of-stake validation. This validation method is popular as it speeds up transaction times, decreases the energy consumption of the network and solves many of the verification inefficiencies that larger cryptos such as Bitcoin have faced. Cardano also supports smart contracts and decentralized applications.
These many benefits have helped to raise the profile of Cardano and to increase its popularity. Although not experiencing the massive price surges that many other currencies have, Cardano has nevertheless seen some solid growth. There is still considerable room for Cardano’s price to grow in the coming months and it stands as a relatively solid investment prospect.
XRP is the native token for the XRP Ledger, which is a payment system created by Ripple in 2012. XRP is notable compared to some of the other coins on this list as it uses a unique XRP Ledger Consensus Protocol, rather than the proof-of-work or proof-of-stake system for validation. This is a more centralized approach to transaction validation and includes a number of efficiency and security benefits.
This unique technology has excited many investors in the cryptocurrency space about its development and potential real-world applications. For this reason, it stands as one of the most popular cryptocurrencies by total market capitalization — with plenty of room for the price to grow in the coming months!