Admittedly, 2022 has certainly not been the best year so far for cryptocurrencies. A number of factors were responsible for keeping the market moderately bearish. These include constant reminders regarding Federal Reserve hikes, the unfortunate Terra (UST-USD) incident, and now concerns around the crypto lending and trading markets via the freezing of withdrawals from Celsius (CEL-USD) and Binance (BNB-USD). However, despite all these headwinds, many investors are on the lookout for growth. Growth at a significant discount is even better, as we can find in the best cryptos to buy.
For this article, I have selected three cryptos that are taking a long-term approach to growth. These three tokens are each in the top-10 rankings of tokens by market capitalization. Thus, there’s a size element to each of these tokens that should provide stability over time.
However, each of these projects also has unique growth drivers I think make for a compelling risk-to-reward argument. Here’s why investors may want to consider these tokens as a five-year investment.
Cryptos to Buy and Hold: Cardano (ADA)
Cardano (ADA-USD) is a decentralized and open-source public blockchain platform, which is noted for its early adoption of proof-of-stake validation. In addition, Cardano boasts energy-efficient procedures, which are more eco-friendly than peers such as Bitcoin (BTC-USD). This has been a key driving factor of interest around Cardano and other proof-of-stake blockchains.
This network’s native token, ADA, facilitates peer-to-peer transactions on Cardano’s blockchain. It’s worth noting that ADA has been on an incredible ride in recent years, with token price appreciation of approximately 14,000% to its all-time high in September 2021. Of course, since then, it’s been mostly downhill for investors. Currently, ADA trades at a discount of approximately 85% to its all-time high.
That said, there are a number of catalysts investors should consider. The Vasil hard fork, which was recently released, has boosted developer interest in the Cardano network. In fact, over the past month, Cardano has led the way in terms of application development, signaling something for investors to hang on to as token prices everywhere decline.
Over the long term, I think Cardano is a top token to buy and hold. That’s because Charles Hoskinson and his team aren’t rushing anything. They’re methodical. For investors in this high-growth, high-risk sector, that’s a good thing.
Bitcoin is the world’s largest crypto in terms of market capitalization. Initially traded in a range of roughly $0.0008 to $0.08 per coin over ten years ago, the price of BTC hit an all-time high around $69,000 in November last year.
The major reason behind its popularity is that investors believe that the value of Bitcoin will appreciate over time because of its limited supply of 21 million. As an inflation hedge, many have looked to Bitcoin to stabilize their portfolios.
While this thesis hasn’t played out well lately, it is worth noting that Bitcoin’s long-term beta still hovers around zero. That is to say that this token’s price action generally doesn’t depend on the movements of the overall market.
While macro headwinds remain very strong right now, it’s clear that Bitcoin is still the leader in many key metrics. In terms of a form of payment, Bitcoin has seen incredible traction of late; arguably among the most-utilized tokens outside of stablecoins. Thus, for those taking the very long view of this sector, Bitcoin is a stalwart worth considering at these new low prices.
Cryptos to Buy and Hold: Ethereum (ETH)
Second only to Bitcoin, both in terms of market capitalization and price, Ethereum (ETH-USD) is another crypto that investors highly prefer. There are many reasons for this.
Besides being a widely circulated cryptocurrency asset, Ethereum is also popular for its revolutionary network, which allows developers to construct their own tokens via its ERC-20 compatibility standard. In addition, decentralized finance and non-fungible tokens are some other concepts which have shot up Ethereum’s value over the years.
Additionally, the upcoming highly-anticipated Ethereum Merge will push the ecosystem from the present, energy-intensive Proof-of-Work mechanism, to a Proof-of-Stake mechanism. This shift will help turn Ethereum into a more sustainable project in the long term.
ETH hit an all-time high of more than $4,800 in late 2021 and started at the $3,600 bracket this year. It posted a 160% growth in 2021 and some project this token could hit $6,500 in 2022. This makes it a mandatory addition to a crypto portfolio for the long term.
On the date of publication, Chris MacDonald owns Ethereum. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
PrivaCrip to Power a Blockchain Network That Could Follow Cardano & XRP
When the first decentralised blockchain was popularised in 2008 by Satoshi Nakamoto, the door was open for people across the globe to transact more securely and seamlessly. Many blockchain networks have been built and powered by native crypto tokens, including PrivaCrip (PRCR).
Native tokens exist for several reasons. Aside from acting as digital currencies, they perform various functions. Helping blockchains improve data traceability, security, transparency, and trustworthiness shared throughout the network. They also assist in reducing costs through their ever-evolving efficient methods.
Cardano (ADA) and Ripple (XRP) are among the best blockchain-based cryptos that this article will discuss. We will also look at how PrivaCrip (PRCR) will power a blockchain network set to launch into the crypto space.
Top Tier Crypto Makes its Mark – Cardano (ADA)
Cardano (ADA) has been around in the crypto space since 2017. The Proof-of-Stake (PoS), Ouroborous Cardano (ADA), was established using a research-based methodology.
Research is the backbone of Cardano (ADA) and is integral to its success in the cryptocurrency market. Cardano (ADA) uses an evidence-driven mechanism and peer-reviewed research to run its ecosystem to drive its evolution.
Among many things, Cardano (ADA) helps establish DeFi products and provides a suite of financial solutions. Crypto enthusiasts can stake Cardano (ADA) for a chance to earn rewards for their holdings.
With 2022 providing challenges in cryptocurrencies across the globe, Cardano (ADA) is one of the few cryptos to see a surge in on-chain trading volume this year. CoinMarketCap lists Cardano (ADA) as the 7th largest crypto by market capitalization at the time of writing.
Making Waves – Ripple (XRP)
Launched in 2012, Ripple (XRP) is a leading provider of crypto solutions for businesses. Ripple (XRP) provides developers with a solid open-source foundation for executing demanding projects. It is fast, energy-efficient, cost-effective, and reliable.
The solutions provided by Ripple (XRP) enable developers to solve inefficiencies, including asset tokenization and remittance. Therefore, individuals and businesses may apply Ripple (XRP) for DeFi, payments, tokenization, and more.
Crypto enthusiasts with a long-term focus may find Ripple (XRP) a valuable investing tool. Token holders can use Ripple (XRP) for staking its mainnet platform for a chance to grow their earnings and maximise profit.
The New Face Of Privacy – PrivaCrip (PRCR)
The soon-to-launch PrivaCrip (PRCR) is a cryptocurrency built for Web3 data privacy. It will allow users to develop and use permissionless and privacy-preserving applications. This unique feature of PrivaCrip (PRCR) secures apps, protects users, and fosters the creation of many new Web3 uses.
PrivaCrip (PRCR) will drive a blockchain that creates a more empowering and inclusive internet. It will enable developers to build secure dApps using private contracts based on original privacy research (OPR) to revolutionise Web3.
PrivaCrip (PRCR) will begin pre-sale soon and has an initial token price of 0.10 USD. According to the whitepaper, there will be a total supply of 190 million tokens, of which 40% of the total supply will go to the pre-sale.
Crypto enthusiasts who purchase PrivaCrip (PRCR) during the pre-sale will receive the most significant long-term rewards and bonuses. Those who buy with Bitcoin (BTC) will receive a 10% bonus. Also, those using Ethereum (ETH) to purchase will receive 15% of the total PrivaCrip (PRCR) they purchase as a bonus.
10% of PrivaCrip’s (PRCR) total supply is up for distribution as staking rewards, meaning that token holders who stake will receive rewards for their contribution to the crypto’s advancement.
Blockchain networks are continuously evolving, and so are the crypto tokens that power them. Cardano (ADA) and Ripple (XRP) have contributed tremendously to the success of their blockchain networks, gathering mass appeal.
PrivaCrip (PRCR), for its part, will drive a security-enabled blockchain and scalability in private DeFi, empower data tokenization, and bring together a fast-growing community. Acting on its promise, it has the potential to become the next big mover in cryptocurrency.
For more on PrivaCrip (PRCR), check below:
Cardano (ADA) Withdrawal Fees Waved by Bitrue Exchange
Singapore-based cryptocurrency exchange made Cardano one of its base trading pairs earlier this year
Singapore-based cryptocurrency exchange Bitrue announced that it had temporarily waived withdrawal fees for the Cardano (ADA) cryptocurrency.
The trading platform says that the move is meant to celebrate the support it received from the community behind the cryptocurrency.
Users will be able to withdraw ADA without paying any fees until mid-September.
Bitrue has stressed that it wants users to have “as much choice as possible” when it comes to custody options. Those who want to hold their ADA tokens will not be able to do so without paying an additional commission.
At the same time, Bitrue has touted its “Power Piggy” yield-farm investment program for those who want to earn passive income with ADA.
As reported by U.Today, Bitrue introduced the token as its base currency back in February.
In June 2021, it also became the first cryptocurrency trading platform to add support for Cardano-based native tokens.
Last month, Bitrue also announced a staking initiative with the ADA cryptocurrency. It decided to contribute a million tokens to some of the top Cardano staking pools in an effort to boost the level of decentralization.
Earlier this year, SundaeSwap (SUNDAE), the native token of the SundaeSwap exchange, also became available on Bitrue.
WingRiders Losses 59% Of Its Total Value Locked, Plunges Cardano TVL Below $100M
Popular Cardano-based decentralized exchange WingRiders has lost its position as the most valuable DEX on Cardano.
WingRiders slumped from the first position to third after losing more than 59% of the total value locked (TVL) on the platform in the past 30 days.
At the time of writing this line, WingRiders is now the third-largest DEX by total value locked, with a TVL of $19.66 million. It is noteworthy that WingRiders maintained the top spot for more than two months, claiming 42% of TVL On Cardano. However, the DEX has fallen from glory ever since.
Minswap Is Now Cardano’s Most Valuable DEX
The development also affected the total value locked on Cardano. The total value locked on Cardano has fallen below $100 million in the last 30 days after the WingRiders TVL slumped.
Interestingly, Minswap has taken the lead to become the most valuable decentralized exchange on Cardano after the massive decline of WingRiders’ TVL.
At press time, Minswap is leading, with a $49.09 million total value locked on the platform. The DEX hit the milestone after recording a massive growth of 30.9% in its TVL in the past 30 days. Minswap accounts for 51.82% of the total value locked on Cardano.
SundaeSwap, the first decentralized exchange on Cardano, is now the second most valuable DEX in the ecosystem. SundaeSwap is second in the ranking, with $19.72 million in TVL.
Like WingRiders, SundaeSwap has also lost a significant amount of its TVL over the past 30 days. In the past month, SundaeSwap has lost nearly 10% of the funds locked on the platform.
Commenting on the development, Cardano Daily, a platform that shares new developments about Cardano, said:
“After the major decline of @wingriderscom, the TVL scenario of the Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem.”
CARDANO TVL STATUS
After the major decline of @wingriderscom, the TVL scenario of the @Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem#tvl #cardano $ADA pic.twitter.com/xjZ6cHo8jX
— Cardano Daily (@cardano_daily) August 9, 2022
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