What Is The Best Cryptocurrency To Invest In Right Now
Cryptocurrency makes its place in the financial market, and in just 15 years, this digital currency becomes from nonexistent to an important part of the market. But this market is extremely volatile and can’t be eradicated even if it gets extremely popular.
Then you may be thinking, what is the best cryptocurrency to invest in right now? The market value of crypto keeps changing time by time. And crypto prices were extremely up in the first two months of 2023.
If you are planning to own cryptocurrency, you should be willing to face some violent swings. If you are prepared to face them, there are thousands of digital coins, each with different dynamics, so that you can choose the one for you. So here is the list of those five cryptocurrencies having the best dynamics and highest ups.
What Is The Best Cryptocurrency To Invest In Right Now? 5 Contenders
Right now, there are 5 cryptocurrencies with the highest chances of going up, and from last month all the investors holding any of these five cryptocurrencies have gained maximum profits. Let’s discuss each coin one by one.
1. Bitcoin (BTC)
Cryptocurrency was first invented in back 2009, and it became back in the nascent asset class. As of 2022, crypto shows extreme volatility, which is why every investor was looking to insulate themselves. And the only reason was they were scared of the potential total collapse of their holdings.
Every investor wants to invest in an established name, and there is no established name then Bitcoin. Roughly all over the market, Bitcoin is the first crypto coin and large in the coin market. It has a violation of around $450 billion and 42%.
BTC has the most mainstream acceptance among all other crypto coins. It has the most publicly traded stocks, including Tesla Inc. (TSLA) and Micro strategy Inc. (ticker: MSTR).
All these popular names have Bitcoin as their favorite coin for cryptocurrency investment. In 2022, Bitcoin had a 64% decline, but it did come with a surprising comeback in the first two months of this year. And had 39% rallying at the end of February.
2. Ether (ETH)
The second capital coin of cryptocurrency is Ether. And it is the native coin of the widely used Blockchain of Ethereum. The market cap of Ethereum is $200 billion, accounting for about 19% of the complete cryptocurrency market.
But if we compare Ether with Bitcoin, we see that ETH isn’t only a peer-to-peer payment tool. ETH is mainly customized for smart contracts and has decentralized finance tools. Ether can also be used to trade non-fungible tokens and NFTs.
Similarly, you can only use Bitcoin as a speculative asset and store of value; you can use Ether as the native token for the network famous worldwide. Now Ether has changed from a proof-of-work energy-efficient tool to a more efficient proof-of-stake system which is very beneficial for the crypto traders holding Ether. In 2023 through the end of February, Ether has gone 34.2% up.
3. Avalanche (AVAX)
Before investing in any cryptocurrency, every trader should know that Bitcoin and Ether have completely different tiers. And then other coins are more speculative. Apart from Ether and Bitcoin, all the other coins in this list come with risk; as the crypto world is volatile, every investor should come to invest in other coins with their own decisions.
AVAX is third in the list of best crypto coins because of the ambitious goals of their Blockchain. Moreover, this coin also allows users to deplore their mini Blockchains.
The developer of EVA lab has envisioned that in the future, every mainstream commercial will have its own clear identity, and every investor will have a Blockchain.
And doing this will provide every investor with a convenient solution to all their investing issues. In the bear market of 2022, AVAX had a 90% plunged. But this can only be emerging by the long-term investors. Through the end of February, AVAX goes up by about 56.7%.
4. Polygon (MATIC)
Polygon is now considered the 7th biggest crypto coin having $10 billion in market capitalization. This coin still constitutes only 1% of the market size. But it still has plenty of room to grow bigger. It is also said that polygon’s future success completely depends upon ongoing usage and acceptance of the Ethereum network.
The only reason behind this dependence is polygon is a scaling platform having the aim of increasing the capability of Ethereum. Doing this polygon will allow traders to run a limitless amount of decentralized applications.
Like all other coins, polygon suffered an extreme downfall in 2022 and lost about 70% of its value in the past year. But similarly, polygon also had a beneficiary up in the year 2023, surging about 58.2% in the first two months of 2023.
5. Cardano (ADA)
Cardano was founded by the co-founder of Ethereum, Charles Hoskinson, in 2017. ADA is considered a proof-of-stake Blockchain with having energy-efficient protocol running successfully among some largest Blockchains.
The main aim of Cardano is to develop a Blockchain platform with a friendly ecosystem for all investors and decentralized applications. Cardano is also considered one of the coins having a hard cap on the number of existing coins topping out at $45 billion.
Investor’s supply of Cardano is already in circulation at about $35.5 billion and 77%. This means that the amount of overall dilution remains known and relatively limited at the same time. Cardano is now considered the best cryptocurrency for investment, as it shed 81% in 2022. But yes, in recent months, it also clawed back some losses. Hence gain 43% at the end of February. By the market cap, ADA is considered the fifth rank having a violation of $12 billion.
Conclusion:
Almost every individual considers cryptocurrency, but yes, every investor wants to know what is the best cryptocurrency to invest in right now, due to the crypto world’s volatility. We have collected some of those coins with the highest crypto world rank. Make sure to do your research before making any investment.