5 Cryptos To Watch As Investors Batten Down The Hatches

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Last Updated November 18th 2022
5 Min Read

5 Cryptos To Watch As Investors Batten Down The Hatches - Our Picks 

These are our top picks of cryptos to watch as investors batten down the hatches. Keep reading to see the detailed review of each token. 

Bitcoin - Always on investors’ radar

Ethereum - A must-buy crypto that would explode in 2023

Cardano - The best choice for large projects due to its interoperability and sustainability

Avalanche - Market indicators point towards an AVAX price surge 

Solana - The best crypto to add to your watchlist

 

A Closer Look At The 5 Cryptos To Watch As Investors Batten Down The Hatches

Rising inflation, upcoming regulations, and a recession is looming around the crypto sphere. Adding to this, the biggest concern for investors recently was the bankruptcy of FTX, a popular virtual currency exchange. These major holes in FTX’s finances show a highly unstable dynamic, which could impact other digital currencies too. But the blockchain market is a lucrative sector for long-term investors committed to their holdings. Therefore, for those anticipating the next best cryptos, these are the top 5 cryptos to add to your watchlist.

Bitcoin (BTC)

The FTX crash fiasco has severely hit Bitcoin, with the prices tumbling below $16K at one point. But this price action is not a major downhill plunge as analysts predict that BTC is still a crypto to watch closely, even amidst these market instabilities. 

One argument for why BTC would soar tenfold in the coming years is that the coin’s real-world use cases could increase as several other countries are also following El Salvador in making it legal tender. Since BTC offers low fees to send payments across borders, hundreds of dollars can be released instantly to enhance the livelihood of people in developing countries. On top of that, numerous institutions like Tesla, Microstrategy, and Starbucks have already adopted BTC, and the rate of global adoption keeps on increasing. 

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Ethereum (ETH)

While many smart contract blockchain networks are available today, Ethereum remains the go-to and most advanced option for investors. The network hosts over 3000 dApps, including major DeFi apps, NFT marketplaces, and more. 

ETH is one of the best long-term investment options, as the shift to proof-of-stake is evidence of the network’s ability to adapt to growing demands. This new and advanced platform has enhanced scalability and speed, allowing more transactions per second while minimizing fees and latency. Many analysts expected the Merge to boost its prices to new levels; however, the crypto winter crippled those expectations, and the ETH price failed to rise. 

ETH is one of the best cryptos to watch as investors batten down the hatches because the crypto has more updates in the pipeline. The next phase of the upgrade will launch in 2023 and involves scaling the Ethereum network through sharding. Adding nodes to the blockchain would offer massive scalability and support thousands of transactions per second. Finally, phase three is the execution phase, which will add more functionalities like cross-shard communication to the shard chains. 

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Cardano (ADA)

Cardano is the most popular, fastest-growing blockchain technology for secure and sustainable blockchain equipped with ground-breaking use cases. ADA is the best buy because of its real-world utilities. The blockchain solves numerous real problems across verticals like education, retail, agriculture, government, finance, and healthcare. 

Also, the crypto has an active development team that rolls out significant updates every year. For example, after the successful launch of Alonzo, enabling smart contract functionality, the crypto has rolled out Vasil hardfork, enhancing the network’s stability. The team has also introduced Hydra, a payment developer tool on its blockchain which will help solve scalability issues on the network. 

Regardless of ADA’s bearish rally, Cardano also performed extremely well in the NFT market. It is now positioned as the third-largest NFT protocol by trading volume. In addition, the crypto aims for more developments to the protocol in 2023, and these are enough reasons to add ADA to your crypto watchlist. 

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Avalanche (AVAX)

One crypto that dodged the bullet of the FTX collapse completely was Avalanche. Emin Gün Sirer, The CEO and founder of Ava Labs, stated, "We had very little exposure, and we're grateful for it.” 

Avalanche blockchain focuses on transaction speeds, environmental friendliness, and low transaction charges.  

The AVAX ecosystem has been growing rapidly despite the bearish cycles, and this massive growth rate is one reason to add AVAX to the list of cryptos to watch closely. There has also been a significant surge in the crypto’s development activity, indicating developers’ efforts and interest in the network. Moreover, AVAX also witnessed a surge in its NFT trade count, making it a must-add to your watchlist. 

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Solana (SOL)

Thanks to its unique cutting-edge Proof-of-History consensus mechanism combined with PoS, Solana is in a league of its own in terms of safety and scalability. One key reason why SOL is a crypto to watch closely is its jaw-dropping strategy for the year ahead. Solana doubled down on its mobile crypto strategy at the big Tech Crunch Disrupt event in San Francisco in 2022. The strategy includes the launch of a full software mobile stack (SMS) for developers to make mobile apps and games, which would significantly bolster its adoption rate. 

SOL also has a wide range of use cases as hundreds of developers build their projects on the Solana blockchain, making it an ideal buy for investors.  

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

The Bottomline 

For patient investors, buying growth assets at a discount has ensured profitable returns over the years. However, cryptocurrency investments are challenging as they are highly speculative. To help you out, these are the 5 cryptos to watch closely as investors batten down the hatches.

Read More:

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