When looking at the 5 cryptocurrencies to buy among the top blockchain projects, several factors play a role. Short-term investors usually take trends into account and jump on the hottest assets for quick profits. However, there is a growing number of investors who are buying assets for their functionality.
Since cryptocurrencies run on blockchain technology, examining the technology of an asset can help value seekers to decide whether an asset is worthwhile. The Ethereum blockchain remains the most popular blockchain platform available, but several others have increased its adoption.
The following assets were chosen because we believe their blockchains have real value and functionality. Let us begin:
1. Buy Solana (SOL)
Our list of the best cryptocurrencies to buy starts with Solana – a high-performance blockchain launched in March 2020. It was developed by the Solana Foundation and has developed into a top blockchain platform that focuses on supporting decentralized app developers (dApp) and enables this to bypass performance bottlenecks.
Solana’s native token is SOL, which was launched last May. The token has performed well since its inception, moving from an introductory price of $ 0.77 to $ 43.74 at press time. SOL’s rise was relatively linear until last month when the general market downturn caused the price to fall from its all-time high of $ 58.16 on May 18 to a low of $ 20.20 on May 24. With a current price of $ 43.74, SOL works to get back into the bull market.
Bears have so far tried to halt the asset’s growth and so far keep it below the $ 45 mark. However, they failed to pull SOL’s value below the 20-day EMA of $ 36.39. This suggests that market sentiment is favoring SOL.
In terms of fundamentals, SOL looks strong too. The Solana Foundation has partnered with investment firm ROK Capital to launch the Solana Eco Fund – a $ 20 million fund that will spearhead blockchain expansion into Asia. The company is also reportedly working on a $ 300 million to $ 450 million capital increase.
2. Buy polygon (MATIC)
The Polygon Network is a multichain scaling solution based on the Ethereum blockchain. The network aims to provide cheaper and faster transactions on the Ethereum blockchain using Layer 2 parachains – essentially blockchains that run in parallel with Ethereum.
Users can pay Etheruem-native tokens into a Polygon Bridge smart contract. The network’s token, MATIC, is used to pay transaction fees and also participate in the Proof-of-Stake (PoS) consensus. MATIC added an entry to our list of the best cryptocurrencies for sale due to its performance in May. MATIC hardly came out of the collapse of the market unscathed. The asset hit its all-time high of $ 2.6 on May 18 – a time when other cryptocurrencies saw double-digit drops. While it finally fell on May 23, bottoming at $ 0.76, it has risen 118 percent since then and is currently at $ 1.66.
All in all, MATIC gained 120 percent in May, while all large-cap cryptos ended the month lower than at the beginning. Analysts and investors believe that such a strong performance is only a harbinger of what is to come.
Last month, Polygon also received an investment from serial entrepreneur Mark Cuban. Reports confirmed the investment, although it is unclear how much the owner of the Dallas Mavericks spent on it. All in all, MATIC shows that an asset backed by strong fundamentals can survive a market downturn.
3. Buy Kusama (KSM)
The next entry on our list of the best cryptocurrencies to buy is Kusama – a blockchain network developed by Polkadot. Kusama is currently in the final stages of its rollout, which will include the use of parachains on its network.
The network’s developers also announced last week that they had voted to upgrade their first common good parachain called Shell to Statemine. Shell is the place where developers test the functionality of Kusama. With the upgrade, the Parachain can now support multiple functions – including the minting of fungible and non-fungible tokens – in the Kusama network.
On the same day, Asian venture capital firm Master Ventures announced a $ 30 million VC fund to support blockchain projects looking to win slots on the Polkadot and Kusama networks. These announcements immediately rocketed the price of KSM – Kusama’s native token. KSM hit an all-time high of $ 480 on June 3, one day after both announcements were made. This means a healthy rebound for the asset, whose value was also hurt by the market downturn in May. KSM tumbled from its all-time high of $ 623 on May 18 and bottomed at $ 200 on May 23. The June 3 surge marked a 140 percent increase in less than two weeks.
4. Buy polkadot (DOT)
Polkadot is an open source blockchain protocol that uses parachains to improve the scalability and security of the network. A single blockchain in the Polkadot ecosystem is known as a parachain. All the paracets are connected by the relay chain. The idea is that parachains can easily exchange information with the relay chain at any time.
Any developer can create their custom parachain on Polkadot. Once connected to the network, each parachain becomes interoperable with the others. The Polkadot developers also built Kusama – another blockchain whose token is on our list of the best cryptocurrencies to buy.
Polkadot is one of the most popular Ethereum alternatives. The start of 2021 was marked by the rise of several top blockchain platform tokens, and Polkadots DOT was one of the headliners.
In May, the DOT rally was stopped by the downturn. From a high of $ 49.53 on May 18, the DOT fell to a low of $ 14.84 on May 23. The asset’s current price fix of $ 25 shows a healthy 68 percent correction so far.
DOT’s bullish fundamentals are similar to KSM’s. Masters Ventures’ aforementioned VC fund will subsidize the tendering of slots in the Polkadot ecosystem for dApp developers. This will also lead to greater adoption for the blockchain and DOT.
5. Hedera hash graph
Like many of the projects on our list of the best cryptocurrencies to buy, Hashgraph is quite unique. Here, the speed of transaction verification increases as more transactions are added to the network. Thanks to the Directed Acrylic Graph (DAG) technology, Hashgraph achieves over 100,000 transactions per second – comparable to mass payment systems worldwide.
Hedera’s native token, HBAR, has gained attention over the past month as investors look for green blockchains. After Tesla announced that it would no longer accept Bitcoin payments, Deepak Chopra, a famous meditation advocate and guru, responded by promoting HBAR.
The price of HBAR has performed relatively well over the past month, falling from a high of $ 0.39 on May 14th and a low of $ 0.151 on May 19th.
The asset’s current price fix of $ 0.228 makes an impressive 50.9 percent increase so far. With the asset already so close to its May high, investors are confident that it will make a full recovery. That’s why it appears on our list of the best cryptocurrencies to buy.
MATIC, Solana, Litecoin Price Analysis: June 13th
Bitcoin lost a solid 6.5% in the past 24 hours and its total market cap fell 3.77% to $ 1.492 trillion. While Solana and Litecoin were trading in red on the 4-hour chart, MATIC appeared to be making a green run for itself.
MATIC reached near its ATH on May 26th and has been in a steady downtrend ever since. In 18 days, the price of the coin fell 41.32% and was trading at $ 1.36 at the time of writing. While Relative Strength Index if it was oversold 12 hours ago, it has since climbed back onto the neutral line thanks to strong buying pressure.
A bullish momentum was seen on the upside Great oscillator in the last 12 hours, with green bars below the neutral line at the time of going to press. Regardless, Parabolic SAR showed an active uptrend as the white dotted line was present under the candlesticks.
Positive dynamism on the market saved the coin falling below the USD 1.23 support level and stronger buy signals could push the price higher.
Solana [SOL] : –
Although SOL has been trading in red for the past few hours, it managed to keep its price from falling closer to the USD 33.5 support level. At the time of writing, Simple moving averages (SMA) leads – 50 SMA (orange) and 100 SMA (red) have different positions on the map. While 50 SMA remained bearish, 100 SMA was just below the price indicator.
In recent observations Average Directional Index (ADX) An increase indicated a decline in prices. The current rise in the indicator could be cause for concern as the red line moves above the 25.0 level. According to the Squeeze momentum indicator, SOL was in an active squeeze release (white dots) at the time of writing, with strong downward pressure.
The chances of the coin dropping below the support line seem plausible based on the indicators, which is why further support has been set at USD 25.7.
Litecoin [ LTC ] : –
Litecoin had developed as expected: The coin did not show any strong volatility in the last few days. LTC’s move remained sideways, consolidating within the USD 185.5 resistance and the USD 145 support level. Even at the time of going to press Bollinger bands showed no inbound volatility as the bands stayed parallel to each other.
Relative Strength Index (RSI) was well below the neutral line. The selling pressure pushed the indicator down to 40.8. Great oscillator on the contrary, there was bullish momentum building when green bars appeared on the indicator
LTC / USD is floating down in the ranges
The market value of LTC / USD is now fluctuating downward in the zone boundaries to trade around the $ 159 level at a percentage of around -1.28 at the time of writing.
Swings deeper in the areas: LTC market
Resistance Levels: $ 200, $ 250, $ 300
Support levels: $ 130, $ 1200, $ 110
LTC / USD – daily chart
The daily LTC / USD chart shows that the cryptocurrency is swinging down at the USD 150 range line. There were still some volatile price movements in the lower trading zone that the market has maintained over time. As a result, all SMA indicators hardly differ in their positions on the chart. The 50-day SMA lies above the 14-day SMA with a small margin in between as the bearish trendline moved across it from top to bottom. The stochastic oscillator lines are slightly open and point south between areas of 40 and 20. This means that a downward force is lasting for some time.
With lower price fluctuations around the LTC / USSD area limits, will it take any longer?
The trading operation between Litecoin and the US dollar fluctuates excessively around the lower bounds of the market. The main range values of $ 150 and $ 200 are still intact as the price continues to fluctuate around them. Bulls also try to locate support around the lower range line over time. But they haven’t made the much-needed effort to achieve a sustainable recovery. However, a lot is expected of them, in particular by finding decent entries as the price drops more significantly below the lower range of the market.
To date, bears between the range-bound zones have the opportunity to defend themselves against any possible active upswing that price tends to make. Meanwhile, the immediate resistance level of $ 200 remains the best entry area to get a decent return on the downside if range trading style needs to continue. But most of all, the LTC / USD bears will have to watch out for the lower range of USD 150 afterwards.
LTC / BTC price analysis
With the value of Litecoin fluctuating downward by a reasonable amount when paired with Bitcoin, the trend still appears to be in favor of the base trading instrument. The bullish trendline drawn is currently the only self-inclined technical tool that represents this on the price analysis chart. The 50-day SMA indicator is broken to the south as the 14-day SMA trendline is just above it. The stochastic oscillators are immersed in the oversold area with slightly crossed lines pointing north in area 20. This suggests that an upswing in the womb is the time to side with the base cryptocurrency versus the flagship counter-cryptocurrency.
Cardano SPO column: WeQanhet (WEQNT)
This week’s guest at the Cardano SPO column is a purpose-oriented participation pool with several Charity projects in developing countries, including solar lighting and freshwater fountain: WeQanhet (WEQNT).
Last week’s guest was a Stake pool managed by a single operator who creates in-depth Cardano-related educational content.
This initiative is a reference point for everything Cardano and every week or two we invite Stake pool operators (SPO) to answer some questions and to give us an update directly from the Cardano community.
When you consider that many of our readers are new to the crypto space, We’ll have a mix of simple and technical questions.
Hello Denicio, nice to have you here. Tell us a little bit about yourself, where are you from and what is your background?
Hello everyone, my name is Denicio Bernier and I come from the Netherlands. I got to blockchain in late 2017 after accepting a colleague’s challenge to come up with a list of projects that I thought were better than Ethereum and Bitcoin.
It took me a week researching multiple projects, but the only one that really caught my focus was Cardano. The reason Cardano caught my attention was because of the team behind the project and their goal of solving the land registry issue, something that has plagued my family for over 30 years.
Since discovering Cardano, I have devoted my time to learning more about the project and to informing others about it.
What made you decide to become a Cardano Ambassador and Stake Pool Operator?
Before I became an ambassador, I had a podcast that focused on interviewing community members. The idea behind the podcast back then was to show the world that Cardano has a real, lively and active community. The community back then wasn’t as big as it is now, so I wanted to show the world that we actually have a community from all over the world.
With regard to running a stake pool, I believe that every active community member should either operate a stake pool or delegate their stake to a community-based stake pool. As an ambassador, I see it as my duty to lead by example and to help secure the network by operating a single stake pool.
What charity projects are you working on and where?
Stake Pool WEQNT is dedicated to providing free solar lighting to people who live in rural desert areas in Africa. We do this with great love and passion for people and hope that through this we can help improve their quality of life. We are also in the process of raising funds to start drilling water wells for the same communities.
I believe that nobody has to walk kilometers just to get a bucket of water. In addition, the water taken from springs often contains a wide variety of bacteria that are not beneficial to people’s general health. So if we can help solve some of these problems with the help of the community, then that’s what we should do.
Your stake pool has been around since the ITN (Incentivized Testnet). Based on your experience, what advice do you have for new SPOs? How can they grow?
Indeed, I’ve been with the ITN. It was a very special time. We were all just learning how to set up an equity pool, market our business, and develop relationships with our delegates. Really an unforgettable time!
Since the ITN, I’ve always said that WEQNT wants to provide free solar lighting to people who live in rural desert areas in Africa, and yes, I’ve kept that commitment!
I would advise other SPOs who are just starting out or who are having difficulty attracting delegations to create more visibility for their company and to build honest and sincere relationships with their community of (potential) delegates
Thanks for your time. Any final thoughts? Where can people find you?
The pleasure is mine. I really enjoyed that. This is a great example of how someone can contribute to the advancement of the Cardano ecosystem – in your very own way.
If someone would like to support us, they can delegate to the WEQNT deployment pool.
We are a high-performance investment pool with a solid mission and we want to continue to grow and do more good for people in need.
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