Best Cryptocurrency to Buy Right Now
Bitcoin Bitcoin, the world's leading cryptocurrency, has had a tough month like any other market. BTC investors were hit hard in April as good coins started above $ 45,500 and closed at $ 37,714.88, although they were traditionally less volatile than their peers. Despite the apparently optimistic news from Fidelity Investments: The largest US provider of retirement plans is a 401 (k) investor who gets Bitcoin from his account if the employer needs to allow it. Announced that it will be available for direct purchase. Approximately 23,000 companies use Fidelity to manage their retirement savings. The market includes more than 20 million people and $ 2.7 trillion in assets. How many employers will choose it when this feature is released later this year is an open question, but this is an important step in Bitcoin adoption, and probably not the last.
Ethereum (ETH) After reaching a record high of $ 4,891.70 in November 2020, the world's second-dominant cryptocurrency has returned to Earth and has surged to around $ 3,000. Ethereum, the world's most actively used blockchain, pioneered the idea of decentralized finance (DeFi). This is a disruptive new financial system that keeps out traditional and intermediaries such as banks, brokers and centralized exchanges. While many up-and-coming competitors are chasing Ethereum's leadership position, Ethereum is not only widely adopted by its network, but also "The Merge." Formerly known as Ethereum 2.0, The Merge, launched in late 2022, merges the current mainnet chain with the Beacon chain, making the network far more expensive, slower and energy-intensive than the Proof of Work protocol. Efficient proof of change stake system. This should help speed up the Ethereum ecosystem again and boost Ethereum.
Solana (SOL) Among the world's top cryptocurrencies, it's essentially Bitcoin, Ether, and everything else. So-called altcoin (other than BTC) has great opportunities, and Ethereum rival Solana is a promising start-up that has entered the DeFi world and gained a large market share. Many currencies are built on major Ethereum networks, but Solana with its own blockchain using native SOL tokens is not built. BTC debuted in 2009 and ETH debuted in 2015, but SOL has been a baby since its debut in 2020. The following year, Solana swept the world, rising from about $ 1.50 to over $ 170 by the end of 2021. Since then, things have cooled dramatically, with SOL falling below $ 90 in early May. Still, Solana continues to eat up market share. SOL will grow from 1.9% of the market so far to 2.8% of the market in 2022, and its low transaction fees should continue to threaten Ethereum users until the merge is complete.
Terra (LUNA) Another cryptocurrency that is currently the best choice to buy is LUNA, the native token of the Terra blockchain protocol. The value of LUNA is not known as a type of DeFi or digital gold, but simply can be seen as a bet on the growing popularity of Stablecoin. Stablecoin is a cryptocurrency with a fixed price in a specific fiat currency, and the DeFi ecosystem allows investors to lend and borrow stablecoin in large pools to generate profits and invest in other opportunities. It is becoming an increasingly important part. The value of LUNA tokens is directly related to the launch of Terra-based stablecoins such as UST, which are fixed in US dollars. As the demand for UST increases, LUNA tokens are written and the value of each token increases. On the other hand, selling UST will create more LUNA tokens. Despite falling alongside other markets in April, LUNA has remained largely flat to date, dramatically surpassing the 20+ mark across the crypto market.
Binance Coin (BNB) With the exception of Stablecoin, Binance Coin or BNB is the third largest cryptocurrency by market capitalization. Market capitalization in early May is approximately $ 63 billion. BNB provides investors with a good way to bet on the thriving Binance ecosystem, including the world's largest cryptocurrency exchange. Binance has been an early and confident leader in buying and selling digital assets. Data in early May showed that 24-hour trading volume exceeded $ 12 billion, while trading volume of the next largest competitor was about $ 2 billion. , Coinbase Global Inc. (Ticker: COIN). 99% of the maximum supply of BNB, a deflationary token, is already in circulation, and Binance also burns some of its BNB-based transaction fees on its network.
FTX Token (FTT) Investing in emerging industries is notorious for being extremely difficult. Today, crypto seems destined to exist for some time, and with it, crypto trading. FTX Cryptocurrency Derivatives Exchange's native token, FTT, is similar to BNB in that it is another way to bet on the growth of the evolving crypto trading environment. Owning a small amount of BNB and FTT will prevent investors from concentrating their exposure to a growing pie that spans two early leaders in the region. Cryptographic derivatives that FTX specializes in can be truly huge if traders treat them as if they had derivatives in other assets: the market is already worth tens, perhaps hundreds of trillions of dollars.
STEPN (GMT) Finally, STEPN has the lowest market capitalization. This is a good place to buy one of the best cryptocurrencies, as it may be relatively new. With a market capitalization of just under $ 2 billion in early May, the currency whose ticker is GMT will be small enough to qualify as a small cap if it is a stock. GMT is unique in that it is a earning token that encourages real practices by providing tokens to users. You need to buy digital sneakers in the form of non-fungible tokens and level them up to level 30 before you receive Sweat Capital GMT. I'm still not sure if the move to earn tokens is trendy, but there's one thing for sure. That is, GMT is now bright red. Tradeable GMT began on March 9th at less than 14 cents per coin. By the end of April, its price had already risen 25-fold to over $ 3.50.