Top Cryptocurrencies For November - Our Best Picks
Elrond - The scalable next-generation blockchain platform
PancakeSwap - The crypto that promotes more transparency for users
Ocean Protocol - The platform that allows safe data access while buying and selling tokens
A Closer Look At The Top Picks For November
Which crypto has the highest possibility of exploding in the future? We think Elrond (EGLD), PancakeSwap (CAKE), and Ocean Protocol (OCEAN) could be the best crypto token to buy in November 2022. Why are these 3 coins our top picks? Keep reading to find out!
Elrond (EGLD)
Elrond (EGLD) is a next-gen platform powered by a high-throughput blockchain. It is designed to facilitate the mass adoption and use of blockchain technology. Developed in 2017 by brothers Lucian and Beniamin Mincu, the platform has so far delivered several impressive features, making it an attractive crypto for potential investors in the coming years.
Initially launched with the aim to improve the current blockchains, Elrond's main net was officially released in 2020 and has received regular updates ever since by their team. Furthermore, its latest venture has been in the DeFi scene with bridges, stablecoins, etc.
Elrond’s main USP is its scalability, which, to be fair, most cryptos lack. The platform can process around 10K transactions per second, thus, outperforming most blockchain platforms at a higher speed.
Moreover, the platform is surprisingly efficient, given that it functions on its unique 'Sharding' mechanism to help reduce the processable data amount needed for each transaction. This feature advances Elrond as an efficient energy consumption and processing power platform.
The platform also launched its first BEP-2 token, ERD, along with ERC-20 in November 2019. But, Elrond minted its mainnet token only during the launch of its own blockchain the following year in 2020. The new EGLD token officially went live in September at a price of around $17. Following this, the EGLD price has fluctuated.
Despite the fluctuations, Elrond has progressed much since its initial price of around $17. Through its several bullish trends since last year, the crypto also reached its new ATH at around $500. Regardless of the turbulence now and then, the major consensus regarding its future and predictions remain quite positive, with the coin expected to grow in the following years.
Although the EGLD crypto is still in its blooming phase, Elrond is still an excellent investment because of its efficiency and scalability, thus, making it one of our top picks for November.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
PancakeSwap (CAKE)
The PancakeSwap network was created by unknown developers with the aid of the popular platform Binance. The network officially hit the market in September 2020, and just a year later, it became one of the biggest DeFi exchanges by trading volume.
Owing to its presence within the DeFi space, the platform strives to nurture convenience and hopes to enable easy usage for users. Shifting the focus from standard and conventional crypto projects, PancakeSwap makes its mark by operating on a DeFi automated market maker.
Due to its linkage to Ethereum as a dual smart contract, the platform contains the unique feature of delivering direct liquidity from LPs (liquidity providers). This promotes increased transparency, thus eliminating the presence of permission or middlemen. As an integral member of the BNB chain-based decentralized exchange, PancakeSwap has an impressive community of users, developers, and tools to further advance the development of powerful DeFi applications.
Now, the price of PancakeSwap's native token, CAKE, is primarily influenced by the scale of recognition gained from exchanges and individuals. Hence, the crypto has a high chance of achieving positive growth over the following years. But, CAKE's price might be highly affected by the general movement of Bitcoin's price. As of now, the price of CAKE is anticipated to be in the $4 range by December 2022.
Overall, PancakeSwap is quite user-friendly, which does help draw more users, particularly new crypto enthusiasts, as it has an easy-to-use interface. And considering its fast transactions, low fees, and easy interface, it shows promise as a positive future investment and a top pick for November.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ocean Protocol (OCEAN)
Ocean is a type of open-source protocol that facilitates the exchange and monetization of data and data-based services for businesses and individuals. It is developed on the Ethereum blockchain and utilizes 'datatokens' to gate data set access. These tokens can be redeemed by users that need further access to the information.
Ocean aims to make the platform's data sets available to researchers and startups without having the data leave the clutch of those storing it. Thus, its software is developed to promote this exchange by linking users who require data or those without resources to store with those who have resources to share or spare.
Providers are then given OCEAN in return, the native crypto of the Ocean Protocol. The platform hopes its tools spur long-term growth when considering a permissionless and open data economy.
The native crypto OCEAN is utilized as a medium of exchange within the protocol's marketplace. The price of the datatokens is usually based on an AMM pool together with OCEAN. This allows the datatokens price to adjust as it can be bought and sold depending on supply and demand. Moreover, the crypto can be stored and turned into eOCEAN tokens, which enable holders to vote in Ocean's DAO (decentralized autonomous organization).
Ocean Protocol chose a decentralized autonomous organization in order to facilitate a decentralized system for deciding on resource distribution into Ocean Protocol's projects. In the last month, OCEAN'S price has spiked by nearly 4%, which sets out as a great example of a new and innovative venture to attract new potential crypto investors.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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