A quick guide to the top cryptocurrencies to buy now to make massive returns in the future.
The blockchain industry and cryptocurrencies have been growing consistently over the past few years. However, 2021 was one-of-a-kind for cryptocurrencies for the sole reason that the crypto market witnessed a roller coaster ride. Some digital assets made unfathomable gains, whereas some busted massively.
As more and more institutional investors start embracing cryptocurrencies and their potential, more capital will flow into the market. Eventually, this would open up more opportunities for investors to secure a wealthy fortune by investing in cryptocurrencies.
So let’s talk about Apecoin (APE), Solana (SOL), and Terra (LUNA) - three cryptocurrencies that could help you become a millionaire.
BAYC’s strong brand and financial backing put APE token in a strong position.
The Bored Ape Yacht Club (BAYC) proved to be one of the hottest non-fungible token (NFT) collections in 2021, solidifying itself as a market leader within the NFT space. However, despite the collection’s growth in 2021, the hype has not faded. In 2022, the BAYC ecosystem has rapidly grown from increased adoption by celebrities such as Post Malone and the ecosystem’s purchase of the popular CryptoPunks collection.
In addition, members of the BAYC NFT Collection were notified that they were eligible to claim ApeCoin (APE), which is the native cryptocurrency of the BAYC ecosystem. The coin was released by a collective called ApeCoin DAO, a so-called decentralized autonomous organization.
The crypto’s governance properties make APE a shared and open currency that the token holders can use without centralized authorities. By improving community participation, ApeCoin solves one of the crucial issues that DAOs face, centralization. ApeCoin’s technology also offers easy access to the crypto world.
Yet another challenging concern that confronts DAOs is higher gas fees. ApeCoin offers a fee-free transparent structure that allows the community to vote weekly rather than monthly or bi-annually. In addition, the DAO handles all things ApeCoin, with the token touted as a coin for “art, entertainment, events, and storytelling.”
APE is shooting for a place in the Web 3.0 metaverse and is already slated to be integrated into play-to-earn games developed by the Ubisoft-backed Animoca Brands. ApeCoin will also be integrated into an upcoming game developed by nWay, a subsidiary of Animoca. If these integrations are successful, the Bored Ape brand could build a media empire that will work out in favour of ApeCoin.
Check Out: ApeCoin (APE) Price Prediction
Solana is one of the best-performing digital currencies of recent years.
The Solana blockchain, which supports smart contracts, is increasingly attracting developers and building a strong community, as it promises high scalability, security, and stability. Transactions are affordable and take only a few seconds to complete on the blockchain. It is an effective, fast, secure, censorship-resistant blockchain that provides the open infrastructure required for global adoption.
Solana aims to solve the scalability issues that the Ethereum network is currently facing. Like Ethereum, Solana uses smart contracts to host decentralized applications (dApps). However, Solana’s unique parameters allow for significantly cheaper transaction costs while simultaneously increasing the speed of the network.
Recently, Solana announced Solana Pay, allowing customers to pay merchants on the Solana blockchain using Solana or a stablecoin like USDC, which is pegged to the USD. Since Solana has far lower transaction costs, it is ideal for less expensive NFTs. And, thanks to the speedy transactions on Solana, the blockchain may be setting itself up perfectly for video game NFTs.
SOL currency seems to be showing positive momentum. Experts say the coin may trade at around $337.42 by the end of 2026, making now a great time to invest in SOL.
Don't Miss: Solana (SOL) Price Prediction
Terra stablecoins are likely to see even higher levels of adoption going into the future.
Terra (LUNA) is a cryptocurrency and payment network created by Do Kwon and Daniel Shin, co-founders of Terraform Labs. The Terra blockchain supports a decentralized finance (DeFi) ecosystem in which price stabilization algorithms maintain price stability for the native crypto token, LUNA. Terra gives users access to an array of DeFi applications and has become one of the most popular projects in the crypto world.
Terra also seems to have captured the algorithmic stablecoins market. One of its stablecoins, TerraUSD, is rising pretty fast on cryptocurrency market rankings. Since these stable coins are anchored on LUNA, the more they grow in adoption, the higher the potential for LUNA to grow in value. Terra stands apart from the crowd through the use of its fiat-pegged stablecoins. It does this by combining the borderless benefits of cryptocurrencies with the day-to-day price stability of fiat currencies.
Several other DeFi protocols are building on Terra as well. As it is a highly scalable, secure, and low-fee blockchain, it keeps attracting other stablecoins and projects that are building Web 3.0 applications.
Terra has risen a lot over the past year and even passed tokens like ADA and SOL (by market cap). But even after this impressive run, Terra could just be getting started. User growth is soaring, demand for Terra's stablecoins is growing, and protocols like Mirror and new applications like the Derby Stars NFT are coming on board, showing that Terra's uses will expand from here.
Terra is coming into its own as a full-fledged financial ecosystem and is worthy of long-term investment because it could be on the precipice of becoming a global economic powerhouse.
Read Also: Terra (LUNA) Price Prediction
Cryptocurrencies that are best equipped to deal with both opportunities and challenges are likely to succeed in the long run. Based on key considerations, it is possible to become a millionaire by investing sizable capital in APE, SOL, and LUNA. That said, cryptocurrencies are volatile, and you are advised to perform due research before investing in them.