Invest in these top cryptocurrencies to generate profitable returns in the long run.
Cryptocurrencies have been in the red zone since the beginning of the year. With Bitcoin plunging to below $20k, investors are considering numerous potential altcoins. Even the pro investors are looking to catch the hottest cryptocurrencies right now in the market. Let’s have a look at the top 5 hottest cryptos to add to your portfolio.
Ethereum (ETH)
Ethereum still tops the list of the hottest cryptocurrencies in the market right now.
Although numerous other altcoins are trying to beat Ethereum, it still remains the top second-largest cryptocurrency in the market. The much larger hype surrounding Ethereum is due to its upcoming, long-awaited upgrade to PoS system.
The upgrade has experienced severe delays yet is one of the most anticipated events in the entire crypto industry. Yet another reason ETH is one of the hottest cryptos right now is that Ethereum co-founder Vitalik Buterin announced the next steps in the roadmap for the network. According to its roadmap, the network would undergo a series of Surge, Verge, Purge, and Splurge.
In a gist, the Surge introduces sharding, or side-chains, in 2023, the first major step toward scaling. The “Verge” introduces a highly powerful upgrade to Merkle proofs that facilitates smaller proof sizes. Verkle Trees aims to optimize storage on the network and reduce node size. Purge is basically a cleanup phase. To streamline storage and reduce network congestion, the update eliminates some historical data. Finally, Splurge is a combination of numerous smaller updates and ensures smooth network operations.
ETH is a must-buy now because by the end of the roadmap Ethereum network will be highly efficient and sustainable, leading to massive adoption.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Solana (SOL)
The launch of Solana Saga has boosted the demand and popularity of SOL, making it a good buy now.
Solana, the fourth-generation blockchain, supports a unique Proof-of-History protocol, which makes it one of the fastest blockchain networks. As a result, its token SOL is one of the hottest cryptocurrencies right now, with the company behind the crypto announcing the upcoming launch of a new Android smartphone, the Solana Saga. Equipped with a Solana Mobile Stack, a Mobile Wallet Adapter, a Seed Vault, and Solana Pay, the device is a one-stop solution, making Web 3.0 more accessible to a broader audience.
Apart from this, the team also aims to make a Web3-facing app store to eliminate any friction for developers.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
ApeCoin (APE)
APE is one of the hottest cryptocurrencies right now, thanks to the anticipation surrounding a major metaverse digital land sale.
One key reason for ApeCoin’s rising popularity is the company behind its launch, Yuga Labs, founder of Bored Ape Yacht Club, one of the biggest names in the NFT industry. The NFT collection was so popular and in demand, and it was the top searched NFT by Google Search Trend data. The purported goal of APE is to process payments within the ecosystem.
Yet another reason for the tremendous rise of APE is the excitement around the sale this weekend of 50,000 plots of virtual land on Otherside, the yet-to-be-released metaverse platform. Buyers require ApeCoin to purchase a plot in the metaverse, which has tremendously boosted the price of APE to new highs.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
STEPN (GMT)
The 'move to earn' crypto token STEPN is one of the hottest cryptos to buy right now in the market.
The crypto space has always supported budding projects in the industry, even some of which cater to diverse sectors of the business. One such project that has seen massive popularity and attention is STEPN. The crypto has taken the whole blockchain sector by storm with its unique and innovative approach.
It is a Web3 lifestyle application combining fun elements and a gamification design. Precisely, STEPN is a blend of elements of socialFi and gameFi. Furthermore, the integration of some of the successful upgrades like the In-app wallet upgrades, multi-chain wallet upgrades, and multi-chain marketplace upgrades has made STEPN one of the hottest cryptos right now.
Moreover, yet another reason for GMT’s euphoric rally is the crypto’s recent earnings report. Official reports suggest it has made a profit of $26.81 million from its NFT Marketplace trading and royalty fees in Q1 2022.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Uniswap (UNI)
Uniswap decentralized exchange is at the center of the hype around DeFi.
Uniswap is one of the best-decentralized exchanges built on the Ethereum blockchain. The crypto has raised millions in funding from firms like Andreessen Horowitz and Paradigm to support building the decentralized exchange protocol.
Uniswap has become the hottest topic of discussion in the market with the announcement of its acquisition of Genie, an NFT marketplace aggregator. This new acquisition would bring non-fungible tokens into the ecosystem. Genie offers users access to numerous NFTs that are available across marketplaces. The team of Uniswap will leverage Genie to build a Uniswap NFT vertical in the future.
Moreover, the new platform would allow users to trade NFTs across most blockchains and will be integrated directly into Uniswap. The announcement has made UNI one of the hottest cryptocurrencies right now and a must-buy for long-term returns.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The Bottomline
Before starting your investment journey, ensuring that you have the right choice of cryptos in your portfolio is important. If you are looking for long-term returns, these are the hottest cryptocurrencies to buy right now.
Read More:
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