Rising interest in the crypto markets should boost these crypto assets.
Since cryptocurrencies became a thing, Bitcoin has been the leader both in gains and adoption by new investors. However, the trend is changing. There are lots of new investors that are now buying altcoins as their first crypto investments.
This is driven by the growth of fiat-to-crypto on-ramps that have eliminated the need to buy Bitcoin before buying altcoins.
There is also the fact that in the last two crypto bull runs, some altcoins have outperformed Bitcoin by a pretty huge margin.
This potential for exponential gains coupled with the fact that Bitcoin’s price is beyond the reach of many is pushing a lot of people into altcoins. In short, there is a lot of room for growth cryptocurrencies to thrive.
With the crypto market now gaining upside momentum again, 5 cryptos that are yet to make any significant price moves look pretty good for a growth portfolio. These well-known cryptocurrencies have the potential to make investors richer in December and for months to come.
5 Growth Cryptocurrencies That Could Make You Richer In December
1. Litecoin (LTC)
Despite most major altcoins gaining by double digits, Litecoin is yet to make any significant moves. Volumes have been low for weeks. It’s almost like people forgot about it.
However, Litecoin happens to be one of the most fundamentally strong cryptocurrencies in the market today.
One of Litecoin’s biggest strengths is adoption. It ranks at the same level as Bitcoin when it comes to adoption as a currency. Most platforms that accept Bitcoin for payments also accept Litecoin.
Since adoption drives the intrinsic value of cryptocurrencies, it goes without saying that Litecoin is one of the most fundamentally strong cryptos out there.
The fact that it hasn’t rallied over the last few weeks gives it much upside potential. Its practicality also drives Litecoin’s growth potential as a currency.
While Bitcoin’s original vision was to be a daily-use peer-to-peer currency, its rising fees and slow transactions have made this impossible. This explains the pivot to a store of value use-case.
Litecoin, which is more like a lite version of Bitcoin, has maintained this use case. Litecoin transaction fees are quite low, and all transactions carried out on the Litecoin network are near-instantaneous.
This means its potential for adoption is pretty high, and that’s good for value appreciation in the long run.
Litecoin also has a relatively low coin supply. Its total supply is capped at 84 million coins, and it has a circulating supply of 71.7 million.
Not only is this low, but the fact that Litecoin uses a proof-of-work algorithm akin to that of Bitcoin means that the difficulty of bringing new coins into circulation is ever rising.
The implication is that with its adoption on the rise, Litecoin’s demand is increasingly chasing a minimal number of coins. It’s a factor that could play into its price action both now and in the long run.
Read Also: Litecoin Price Predictions
2. Binance coin (BNB)
Like Litecoin, Binance coin is one of the most fundamentally strong cryptocurrencies in the market today.
One of Binance coin’s strengths is its utility. Very few cryptocurrencies can match the utility value of BNB. That’s because it is used for paying fees on the Binance exchange.
Binance is the world’s largest exchange and moves billions of dollars worth of crypto daily. This means at any one time; someone is using a Binance coin for transactions.
On top of that, the Binance exchange has an exciting feature called Binance dust. This allows investors to convert tiny crypto leftovers into BNB. Again, this plays into the demand dynamics of this crypto.
However, the biggest fundamental strength to BNB is the quarterly coin burn. Binance burns BNB every quarter and has indicated that it will fast track this burn over 3 to 5 years.
With all these fundamental strengths and the fact that it hasn’t moved much for over a month, Binance coin is a high potential growth crypto this month.
The only thing that may be holding it back is the risk of a regulatory spotlight on the Binance exchange.
However, so far, no country has taken any adverse steps. Binance has also continually stated that it works closely with regulators and intends to keep working with them going into the future.
Once regulatory clarity comes in, especially in key jurisdictions like the UK, then BNB could easily rally through its all-time highs in the foreseeable future.
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3. Cardano (ADA)
Another crypto has the potential to make investors richer is Cardano. Cardano remains one of the most fundamentally strong cryptocurrencies in the market today.
One thing that makes Cardano strong is that it has solved the blockchain trilemma of security, scalability, and decentralization.
It solved this using its peer-reviewed Proof-of-Stake algorithm called Ouroboros. This is a big deal because it makes it one of the best blockchains out there for dApps development.
Cardano also has a pretty innovative layer two solution to it called Hydra. Hydras are scaling solutions generated by staking pools, and each hydra can handle up to 1000 transactions per second.
This means that theoretically, the Cardano blockchain can handle upwards of a million transactions per second. Such TPS puts it at the same level as the most efficient centralized systems such as Visa.
Cardano has a competent team of developers behind it too, and this guarantees that the project will keep innovating to meet market needs.
All these factors, and yet the price has not moved much in weeks, makes Cardano one of the best growth cryptocurrencies to buy now.
Check Out: Cardano (ADA) Price Predictions
4. Dogecoin (DOGE)
Dogecoin has been stagnant for weeks despite major cryptos like Bitcoin and Ethereum recording massive gains.
Doge-1 is a trip to the moon by SpaceX, and Geometric Energy Corporation that will be funded entirely in Dogecoin.
Elon Musk had spoken about it earlier in the year, stating that they were looking to put a literal Dogecoin on the literal moon.
The launch date for the mission is in late 2022, and as the date approaches, the hype around Dogecoin will inevitably rise.
In the past, Elon Musk talking about Dogecoin has sent it rocketing. Now that he plans to put it on the moon, the results could be a rally, unlike anything this crypto has recorded in the past. That’s because of the media frenzy that the whole event will attract.
Besides the hype around Elon Musk and putting Dogecoin on the moon, this crypto’s use value is rising.
The Dogecoin developer team is already working on an update to reduce transaction costs and make transactions faster.
Dogecoin already has some of the lowest transaction costs of all decentralized networks. Lowering them further makes it one of the best cryptos to use for payments.
A combination of the above factors makes Dogecoin a highly undervalued cryptocurrency at the current price.
Don't Miss: Dogecoin (DOGE) Price Predictions
5. Ripple (XRP)
XRP doesn’t get much hype these days. The biggest issue with XRP is the ongoing court case between Ripple and the SEC. However, so far, the SEC has not recorded any major win that would point to XRP being a Ripple security.
This makes XRP risky but worthwhile crypto to have in a growth portfolio. That’s because if the case goes in favour of Ripple, XRP’s rally would be astronomical.
The few times that a decision has been made in favour of Ripple, XRP always rallied by over 20%.
However, XRP is not just a speculative play. It also happens to be one of the cryptocurrencies with a multi-billion dollar use case.
XRP is primarily designed to make cross-border payments cheaper and faster. As such, any bank that wants to cut down on its cross-border payment costs would find XRP very useful.
This is not just a speculative use case, as several banks, especially in Asia, already use XRP.
That’s an indicator that once the regulatory uncertainty around it clears up, many banks all across the world could take up XRP for cross-border payments.
Besides the cross-border bank payments use case, XRP is quite practical for everyday payments. It is almost free to send money via XRP, and the transactions are almost instantaneous.
Ripple definitely has the potential to give investors exponential gains now and in the long run.
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