Invest in these top cryptos during the price boom and rake in profitable returns.
Although the market continues to weather many challenges, crypto could still be a potentially lucrative investment. So to save you from the task of sifting through thousands of digital assets, we have listed the 5 top cryptocurrencies to buy for a price boom this week.
Bitcoin (BTC)
The overwhelming performance of the premier crypto has garnered the attention of several traditional and institutional investors, firmly establishing its no.1 position.
There are many fundamental reasons to be optimistic about BTC, the oldest and still the most popular cryptocurrency in the market. Especially in the current renewed bear market, Bitcoin could be the best crypto to buy for a price boom.
Bitcoin continues to benefit from its strong network effects and high blockchain security. A key reason to buy BTC is increased interest from large institutions worldwide. Institutions hold around $28 billion in BTC, while banks are gradually increasing their involvement. In addition, several investors do not consider BTC and stocks to be correlated, making it a great portfolio diversifier.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ethereum (ETH)
Ethereum would play a significant role in the metaverse sphere, making it one of the best cryptos to buy for the price boom this week.
Ethereum has several uses and applications worldwide, specifically for gaming, music, entertainment, and DeFi. The smart-contract platform also allows developers to build everything from DeFi applications to NFT marketplaces.
One key reason ETH is the top crypto to buy this week is the upcoming ‘Merge,’ which will transition the Ethereum network from a Proof-of-Work (PoW) mining protocol to a Proof-of-Stake (PoS) model. This will make the blockchain faster and more energy-efficient and lower transaction fees for users.
Moreover, the update will also help ETH scale up faster and give it more competitive advantages. Ethereum also has multiple fascinating projects like charging stations for home mortgages, electric vehicles, health care records, crypto-collectibles, and microgrids built on its platform. Precisely, the crypto is growing far beyond quick monetary transfers, limiting other cryptocurrencies and even smart contracts.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ripple (XRP)
Numerous improvements and developments in the Ripple ecosystem have made XRP one of the 5 cryptocurrencies to buy for price boom this week.
Ripple is a payment protocol that employs blockchain technology to process international money transfers. Thanks to its low transaction fees, low cost, minimal energy, and extremely fast processing times, XRP is the top choice for financial institutions and banks for cross-border payments. As a result, financial institutions across 55 countries are already using XRP to facilitate transactions.
Ripple’s technology facilitates the fast exchange of various forms of currency and gold through the concept of decentralized peer-to-peer. In addition, the innovation presented by Ripple has allowed cross-blockchain transactions, micropayments, and web monetization for an abundant mix of industries.
Additionally, XRP is also a highly-accessible asset. Several global crypto exchanges like Gemini, Coinbase, and Binance allow XRP trading.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Dash (DASH)
DASH, the next-generation payment method, is one of the best cryptocurrencies for price boom this week.
Dash is a cryptocurrency with a strong focus on digital cash. It was specifically designed to have a swift governance structure and facilitate instant transactions. The crypto works on a P2P payments network and records all transactions flawlessly on the blockchain.
Dash strives to become a medium for daily transactions. The network processes on a rapid-fire basis, and receipts are sent instantly with no additional charges. It offers a unique technology known as the ChainLocks, a feature that provides certainty when accepting payments while ensuring that transaction security is not compromised.
Thanks to its features, Dash has become increasingly popular and is one of the best cryptocurrencies to buy for a price boom this week. For instance, in Venezuela, more than 2,400 businesses accept DASH payments. It has thus emerged as a much more stable alternative to the country’s crashing currency, the Venezuelan bolívar.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Litecoin (LTC)
Litecoin team continues to make significant upgrades, making it one of the best cryptos to buy this week.
Litecoin is one of the best investment options as the coin has been in the market since 2011 and has maintained a constant rally with other high-capped tokens. It was designed to facilitate a faster, secure, and low-cost payment system by leveraging the benefits of blockchain technology.
Having a nearly-identical code to Bitcoin makes it quite popular. But, unlike Bitcoin, which uses an SHA-256 algorithm, LTC operates an energy-efficient and scalable algorithm known as Scrypt. Moreover, this crypto was also one of the first to integrate segregated witness and is often a testbed for Bitcoin development.
Litecoin’s on-chain activities show that it has a high engagement with over 100,000 active addresses. Additionally, it has partnered with several companies and is tagged as the most collaborative cryptocurrency. Some noteworthy partnerships across verticals are with Travala, second-layer scalability solutions like Lightning Network (LN), Atomic Swaps, and Colored Coins. It has also added Mimblewimble, a blockchain design for storing and structuring transactions to leverage more fungibility and privacy features.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The Bottomline
Thanks to advanced blockchain technology, the crypto market has numerous new innovative projects and altcoins. Instead of putting all your investment eggs into one basket, we recommend that you break it down and distribute it across multiple promising crypto projects. These 5 cryptocurrencies are the best to buy for the price boom this week. However, always remember to analyze your choice from the perspective of your risk appetite before investing.
Read More:
The 5 Best Ways To Buy Bitcoin (BTC)
The 5 Best Ways To Buy Litecoin (LTC)
Top 10 Long-Term Cryptocurrency Investments To Consider
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Best Cryptocurrencies To Buy For The Upturn