Trading Education has ranked five beaten-down cryptocurrencies to try to find the best bargain opportunities in the crypto market. The five crypto assets are: Ripple (XRP), EOS (EOS), Litecoin (LTC), Bitcoin Cash (BCH), and Tron (TRX). Experts think that these crypto assets have the best change of producing a 10X return over the next five years or so.
Ripple (XRP)
The price of XRP had a major dip due to the SEC lawsuit, However, Ripple is still one of the cryptocurrencies with 10x potential in 2021.
Ripple XRP has been on a rollercoaster ride over the past few months. There was a significant dip in the price of XRP when the SEC filed a lawsuit against Ripple claiming that selling XRP constituted the offering of an unregistered security. As a result, the cryptocurrency price fell from $0.55 to $0.20 in December 2020.
Despite the price drop, XRP is one of the beaten-down cryptocurrencies with 10x potential in 2021. Financial institutions now prefer Ripple as an alternative to the SWIFT network, giving it a real-world application. In addition, they can expand their reach into new markets worldwide with Ripple’s advanced blockchain technology for global payments.
Since its inception in 2012, XRP has managed to return a respectable profit to its investors. Unlike other coins, XRP is a centralized cryptocurrency that is mined, managed, and administered by Ripple Labs. This gives XRP the benefits of Visa and several other centralized payment processors. With its ability to negotiate with large banks, execute trades instantly, and control policies, XRP is one of the most preferred options for financial institutions.
Ripple is one of the top altcoins to buy now for future returns, as more than hundreds of financial institutions across 55 countries are already utilizing XRP to facilitate transactions. Earlier this year, Ripple also announced its partnership with the largest money transfer service provider in Japan, SBI Remit.
XRP thus has the potential to generate good returns for investors over the long run with its high institutional adoption. Moreover, the network uses its own consensus mechanism based on federated byzantine agreement. In this way, the Ripple blockchain is improving the speed, cost, and reliability of cross-border transfers worldwide. There is growing optimism amongst investors that Ripple could likely win the SEC lawsuit with the dedicated team behind it, which will drive the price of XRP to new highs.
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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
EOS (EOS)
EOS has seen a huge drop in its price over the past few months, but with new developments in its network, the crypto is showing 10x potential.
Several internal and external factors have played a vital role in the significant drop in EOS prices. The recent crypto market crash and the fall of BTC were some of the many reasons for its meltdown. In addition, EOS’s past is riddled with several controversies, along with the poor management of both the network and its parent company, Block.one. This was one reason why the price of EOS faced a major beating in the past.
Although the latest market-wide bull run has not seen EOS skyrocket in value, this beaten-down cryptocurrency has ten times the potential to generate more profit over the long run. As a third-generation cryptocurrency with a decentralized platform like Ethereum, EOS enables the use of smart contracts and decentralized applications (dApps).
With its multibillion-dollar ICO, EOS has gained massive popularity since its inception and was listed on almost all major exchanges. Its unique mechanism aims to solve the crucial problems of usability, flexibility, and scalability of blockchain technology. It can process 100,000 transactions per second, making it one of the fastest blockchain networks available.
The EOS.IO community intends to simplify the programming and integration of smart contracts, making them accessible for a larger audience. Yet another unique feature of the platform is that it virtually excludes transaction charges with its unique framework.
It is also highly flexible, making EOS the perfect platform for dApp developers. Investors believe that EOS is a potential cryptocurrency that would change the way corporations interact by offering decentralized enterprise solutions, eventually increasing productivity.
Check Out: What Will EOS Be Worth In 10 Years?
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Litecoin (LTC)
The price of LTC has been in a steep downward trend recently, but with several new partnerships, the token can still rise to new heights.
Litecoin was deeply in a correction phase when the overall crypto market crash accelerated. LTC had a consecutive drop of more than 32% from its highest level. The overall weakness in Bitcoin’s value, high prices, concerns about strict regulations, and higher capital gains taxes in the United States, etc., were a few of the many reasons why the price of LTC suffered a beating.
Although there was a minor pullback, Litecoin received another boost in August with the payment app Venmo’s announcement that its 60 million users could now earn cashback rewards in Litecoin. This is possible through its newly rolled out Cash Back to crypto feature, making Litecoin a potential cryptocurrency for long-term investments.
Litecoin aims to succeed where BTC failed by making transactions faster and cheaper. As a result, it smashed through its previous all-time high and hit a milestone of $412. 96 in May. After passing the resistance point of $300 in April, experts suggest that the price of Litecoin could rise even higher, and its bullish outlook might continue.
Yet another significant factor that boosts the adoption of LTC is that it has a faster transaction time. Litecoin just takes about 2.5 minutes, which is more than three times quicker than its more famous peers. LTC is also being supported by PayPal’s new crypto service, adding one more reason why this crypto can be a solid future investment. Finally, the company has been gradually rolling out this infrastructure worldwide this year. It enables consumers to buy, sell, hold and use digital assets with merchants. This will eventually introduce Litecoin to millions of new users, boosting its adoption rate.
Read Also: 5 Reasons Why Litecoin Could Double Your Money
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Bitcoin Cash (BCH)
The price of Bitcoin Cash was badly beaten down in the recent market-wide sell-off, but BCH is slowly rising with 10x potential with new coalitions.
Bitcoin Cash also joined the rest of the cryptocurrencies in the colossal market sell-off in May 2021, with a significant drop in its price, which dropped substantially from $1093.36 to $706.80. Also, with the impact of the Coinbase listing fading slowly, experts said that BCH certainly needs another catalyst to begin its bullish rally again.
But with positive developments in the price of Bitcoin, the price of BCH also gained new momentum. Investors say that BCH is one of the oldest and best-known digital currencies with 10x potential to generate good returns for investors. It was created to enhance Bitcoin’s scalability by enabling more transactions to be processed in a single block. Thus transactions are far quicker and cheaper in Bitcoin Cash.
Moreover, BCH was the first cryptocurrency to introduce and adequately test the Segregated Witness (SegWit) upgrade. It effectively separates the transaction data to allow for more transactions to be sent at once.
Bitcoin Cash is highly scalable compared to Bitcoin, with a maximum block size of 32MB. Along with scalability, this reduces the environmental impact of the coin and increases its viability as a digital currency. Further, according to Cointelegraph, BCH is in the process of rebranding to eCash and is planning to introduce a Proof-of-Stake consensus layer.
Moreover, Weownomy is adopting eCash to serve user-owned global platforms better. The founder and CEO of Weownomy, Ssemakula Peter Luyima, said, “The adoption of bitcoin ABC rebranded as eCash is one of the most significant single developments in the history of social media so far. This adoption will mean more than anything else that’s happened before because it gives us a practical way forward, not just an idea or theory but something we can use and put into practice”.
Check Out: Pros and Cons of Investing in Bitcoin Cash
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Tron (TRX)
TRX is slowly rising from its drastic price drop, positioning itself as one of the top beaten down cryptocurrencies with 10x potential of high ROI.
The price of TRX has seen a dramatic rise at the beginning of 2021, hitting record highs. But with the overall market fluctuation, consolidation, and corrections, TRX dropped significantly in May. Although this low-priced crypto never touched the lofty height of Bitcoin, it has hit several milestones since the beginning of the market-wide bull run. Now, with the ongoing developments within the TRX ecosystem, Tron is not going to remain a beaten-down cryptocurrency much longer.
TRX was originally created to give digital content creators complete ownership and control over their content. It focuses on one of the ever-growing sectors of the market, the media and entertainment industry. Since the cryptocurrency has high growth potential, Tron seems to be an excellent long-term investment option for investors.
Moreover, Tron provides users a decentralized content distribution platform, where users can freely publish, store and own their data. The company has an array of plans and development in the pipeline, which will eventually drive the price of TRX to new heights.
The Tron Foundation has put $300 million into the Tron Arcade fund to support and promote the creation of GameFi games, which allows users to earn cryptocurrency while they play. The fund will support the development and implementation of these projects in the next three years. This approach makes TRX a good buy as it will further foster decentralized finance and NFTs within Tron and increase the in-game economy.
Tron has also announced its integration of Shopping.io, the E-commerce platform. As a result, cryptocurrencies users can now make purchases using TRX, boosting its adoption rates. Furthermore, since the coin is expanding its reach to various market sectors, its potential is likely to multiply 10 times, giving a high ROI in the future.
Don't Miss: Will TRON Make Me Rich In 10 Years?
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The Bottomline
The cryptocurrency market appears to be a lucrative investment class for investors and institutions worldwide. There is no doubt that cryptocurrencies are carving out a particular niche for themselves as a store of value, an investment asset, and a mode of payment.
There are several altcoins in the market today that can generate good returns over the long run. Investing in beaten-down crypto assets with solid future potential will ensure that you make a sizeable profit.
Long-term investments are the most lucrative with cryptocurrencies that are presently beaten down but are showing signs of grand recovery. The 5 beaten-down cryptocurrencies discussed above all are showing 10x potential and should be considered for long-term investments.
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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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