Each day, tens of new cryptocurrencies hit the market. In effect, this has pushed the number of cryptocurrencies circulating in the market today past 20000. The reality is that the majority of these will never amount to anything. The few that do will most likely post inconceivable gains, making their earliest investor stupidly rich.
This begs the question, which is the best new cryptocurrency to buy? Which new digital coin has the highest possibility of blowing up in the future and ballooning your crypto portfolio? Based on various considerations, here are our picks for the top summer crypto hits; Gnox (GNOX), Binance Token (BNB), Polkadot (DOT), And Uniswap (UNI).
Consider adding these to your portfolio as they have a promising future.
Gnox (GNOX)
While several crypto projects have come and gone without notice, the Gnox token, a newcomer in crypto, has built a strong community due to its advocacy for holders.
The Gnox Protocol is the first reflection token in the world that bases its service on the yield farming system. This means the platform utilizes its treasury for liquidity pool investment, allowing users to generate income. Another notable component of the protocol is that it leverages the BNB (Binance) Smart Chain to facilitate high scalability, low fees, and quick transfer speeds for its users.
Gnox has been experiencing great success, evident in its price hike by over 60% after its first presale round. During their token burn event, over 2 billion tokens were passed to the dead wallet, lessening its supply and increasing the price.
What makes Gnox unusual is the single investment vehicle it provides, which can bypass the technical obstacles found within the DeFi world. GNOX has proven to be a fresh category of reflection token capable of simplifying DeFi investments by allowing every token holder to receive exposure to the possibilities of DeFi yield earning.
Thus, experts believe GNOX to be one of the top summer crypto hits.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Binance Coin (BNB)
Binance Coin is the native coin for the Binance Smart Chain. It attributes its popularity to its close association with Binance – the largest and most liquid crypto exchange. BNB’s popularity could also be attributed to its growing use cases on the exchange and smart contract platform.
Away from this popularity, two factors inform experts' decision to consider BNB one of the top summer crypto hits. First, the token’s use cases have been on an upward trajectory, especially in fee payment on exchange and as a utility on the smart contract platform. Secondly, Binance has consistently increased the burn rate for BNB coins, which reduces their supply against a growing demand.
Others include the fact the altcoin has proven its resilience by surviving massive crypto crashes and posting a fast recovery. Plus, it is highly liquid and easily accessible.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Polkadot (DOT)
Polkadot (DOT) is a highly scalable smart contract platform built on an ecosystem of interoperable blockchains that aims to outperform Ethereum. It is a consensus-based Proof of Stake (PoS) blockchain. Numerous programmable blockchains, dubbed parachains, are connected to the relay chain, each of which supports decentralized applications (dApps) and decentralized financial services (DeFi). Certain parachains, for example, Ethereum, can communicate with other blockchains.
Polkadot began auctioning parachain slots to developers in November. While the process is far from complete – as of February 2022, only five parachains were connected to the relay chain – Polkadot intends to support 100 parachains in the near future.
The network’s throughput may then exceed one million transactions per second (TPS), with each transaction taking less than 60 seconds to complete. By comparison, Ethereum currently supports 14 transactions per second and frequently takes up to six minutes to complete.
Polkadot had seen steady growth since December when the first parachains were added. With over $17 Billion invested in the platform, it is already the twelfth most popular DeFi ecosystem; it is one of the top summer crypto hits.
As more parachains are integrated, and the Polkadot ecosystem continues to grow, more people adopt platform-based products. As a result, demand for the DOT token will grow, resulting in a price increase.
Uniswap (UNI)
Uniswap is one of the most popular decentralized exchanges. It is also one of the most liquid DeFi platforms. So far, Uniswap has been integrated into 300+ DeFi programs and apps, which has helped boost the use cases for UNI tokens.
At their peak, UNI tokens were 11000%+ above their introductory price. And while they may have taken the hit from the current market contraction, we expect them to rebound quickly and chase new price records. It has already proven its resilience, which is why we consider it the best new cryptocurrency to buy today.
But we also acknowledge the growing need for privacy and anonymity among crypto investors – which DEXs like Uniswap address. Additionally, Uniswap presents its UNI token investor with a passive income-generating opportunity in the name of liquidity contribution to the Uniswap DEX. These should convince you too to add UNI.
Bottom Line
In this guide, we have provided you with a list of the top summer crypto hits. We include them here because they have posted stellar price action in the past and are likely to continue their growth track. That said, cryptocurrencies can be volatile, and investors must perform due research before investing in any digital asset.
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