Wondering which cryptocurrency will explode in May 2022? Or possibly, which crypto asset has the most potential in this month? We’ll cover all this and more!
The cryptocurrency market is booming with opportunities today, with more than 7000 new cryptocurrencies. 2021 has been a prolific year for the growth of several cryptocurrencies. Therefore, there is rising interest from investors looking to add some variety to their investment portfolio.
We have done the heavy lifting here for you and categorized 5 of the best cryptocurrencies to buy in May 2022 after considering their current rally, adoptions, and future development plans.
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Top 5 Cryptocurrencies To Buy In May 2022:
What is the best cryptocurrency to buy this month? Looking for the best 5 Cryptocurrencies to buy In May 2022? We’ve got you covered!
#1 Ethereum (ETH)
Ether, the native token of the Ethereum network, has seen a significant rise in its price and demand in the market over the few years. It is both a medium of payment for users and an incentive token. Ether can be easily exchanged for other cryptocurrencies but substituting it with other currencies to provide gas for the transaction is impossible.
ETH started 2021 on a high and continued its climb to hit a peak of $4,891 on 16th November 2021. It is a decentralized platform where transactions and processes can run without any downtime, fraud, or interference.
ETH is one of the 5 cryptocurrencies to buy in May because, according to their recently released roadmap, the ETH2.0 is going to be live soon. With its latest upgrade, Ethereum will switch its consensus mechanism to Proof-of-Stake. This will make it more energy-efficient, secured, and highly scalable with faster transaction speed.
#2 Uniswap (UNI)
Uniswap is a decentralized exchange built on the Ethereum blockchain. This unique platform has witnessed record growth in 2021. The significant feature of Uniswap as an exchange is its user-friendly operations, user's control over their private keys, and high liquidity.
UNI, the native token of Uniswap, is a governance token as it gives token holders the right to vote on any changes or developments to the platform. This also includes how minted tokens should be distributed to the community, specific modifications to fee structures, etc.
UNI kickstarted 2021 with a price of $5.031 and surged high to an all-time peak of $44.97 on May 3, 2021. With its increasing demand in the market and a high market cap of $4.89 billion, UNI is one of the 5 cryptocurrencies to buy in May.
With Uniswap's upcoming V3 upgrade and UNI being the first token in the decentralized infrastructure listed in eToro, UNI is going to be a solid investment option for investors to secure a wealthy future.
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#3 Cardano (ADA)
Cardano, the third-generation cryptocurrency, is the first peer-reviewed blockchain designed with a research-based approach. It was introduced as a cryptocurrency to solve the issues of scalability that plagued the first and second-generation cryptos.
Cardano has positioned itself as a highly secure and adaptable cryptocurrency with enhanced scalability by deploying cryptography to make transactions more secure and faster. ADA has seen a significant increase in its price since the beginning of 2021, making it one of the 5 best cryptocurrencies to buy in May.
With high interest from investors and recent updates, ADA has grown exponentially to hit an all-time high of $3.10 on 2nd September 2021. Thanks to its layered architecture Cardano is all set to take advantage of the growing DeFi space.
With the release of its upcoming Alonzo update, Cardano will implement new tools and infrastructure to develop functional smart contracts, positioning itself as a viable alternative to Ethereum.
Read More: Cardano Price Prediction
#4 Binance Coin (BNB)
With a market cap of $63.95 billion, the Binance Coin is the fourth-largest cryptocurrency in the market. A significant chunk of BNB's popularity comes from its exchange platform, Binance Exchange, which is one of the largest and fast-growing cryptocurrency exchanges in the market.
BNB is the best utility coin which is the native currency of both Binance exchange and the broader ecosystem of Binance, including Binance Smart Chains.
2021 was a fertile ground for Binance Coin. Its price was consistently climbing, hitting an all-time high of $690 on 10th May 2021, making it one of the 5 best cryptocurrencies to buy in May. There has been a rising interest in BNB as it processes faster transactions with the lowest fees of 0.1% for all traders.
With the latest development in the Binance ecosystem, like the launch of Binance Smart Chain and DeFi adoptions, Binance Coin has positioned itself as one of the ideal options for investors as a long-term investment.
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#5 Litecoin (LTC)
Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to everyone across the globe. This is a decentralized global payment network that ensures faster confirmation times and provides users an enhanced storage efficiency compared to other cryptocurrencies.
Litecoin is also known as the "silver to Bitcoin's gold" and has a high worldwide adoption in the market. Unlike Bitcoin, LTC uses a more accessible and power-efficient mining algorithm called Scrypt. With an intensive memory algorithm, it carries out calculations sequentially. Litecoin also provides a relatively high block reward of 12.5 LTC, which will eventually attract more miners to the network.
Like many other cryptocurrencies, 2021 was a significant year for Litecoin. Crypto enthusiasts predict that if Litecoin LTC maintains its consistent rally, it will probably hit another all-time high shortly. It sits at $101 as of writing and is one of the best cryptocurrencies to buy in May.
With the use of Lightning Network for processing faster transactions, Litecoin's value increased dramatically in 2021. Thanks to Charlee Lee and a dedicated development team, LTC is making new developments on its network regularly. Several top companies like Alba plan to deploy Litecoin for their smart contracts, boosting its value in the market.
Check Out: Is Litecoin a Good Investment?
Best Cryptocurrencies To Buy In May 2022: Final Thoughts
Thanks to advancements in blockchain technology, several new and potential cryptocurrencies are emerging in the market day-by-day. With a wide array of investment options, investors can often be confused about which cryptocurrency to go for and when to buy it.
The list mentioned above has the best 5 cryptocurrencies to buy in May 2022 which has shown a significant rise in the recent months and has a spew of developments in store for the future, making it a viable option for investors.
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