Thinking of investing in cryptocurrencies this month? Then these are the top 3 tokens that could help.
After a massive rally in 2021, several cryptocurrencies may have taken a beating over the last few months. However, fortunately, a market downturn also means that the best investments are now on sale. But with over thousands of digital currencies in the market, how to know which cryptocurrency could help you generate massive returns over the long run?
If you want to make the right investment this June, then investing in Ethereum, Solana, and ApeCoin could help you secure a wealthy fortune, according to crypto experts. Let’s have a deeper understanding of these three currencies to make an informed decision.
The soaring popularity of NFTs and DeFi has well-positioned Ethereum as a top investment choice.
After a tremendous year in 2021, Ethereum continues to be one of the hottest coins in the market. Much of the anticipated growth comes from the fact that Ethereum is the foundation for almost all decentralized applications. In addition, being a cryptocurrency and a blockchain platform, it is also a favourite program of developers.
Ethereum is currently the most popular network for dApps like NFT marketplaces and DeFi projects, adding to the reasons to buy ETH. Among 3,000 dApps across 16 major blockchains, around 2,800 are based on the Ethereum network, with over 100,000 daily active users.
Another reason for the rise in ETH price is the Ethereum Merge, where the network’s mainnet combines with the Beacon Chain. ETH price has propped up over the past few weeks as anticipation builds for its massive upgrade, ETH 2.0. The upgrade will change the way transactions are ordered on Ethereum, making it more efficient and sustainable for mass adoption. Once the upgrade is completed, Ethereum could potentially handle up to 100,000 transactions per second, fueling its adoption rate.
“The ETH price is expected to reach a maximum level of $2,898.64 at the end of 2022. The Ethereum price can reach a maximum level of $4,228.43 with the average price of $3,745.67 throughout 2023.”
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Solana has solidified its position as the best go-to smart-contract platform for NFTs, gaming, and DeFi.
Solana was one of the biggest winners of 2021 and has captured the interest of investors worldwide. Solana network runs on a unique hybrid Proof-of-Stake and Proof-of-History mechanism that helps the network process transactions quickly and securely. In addition, the growth of non-fungible tokens opened an opportunity for Solana to expand its reach in the market. Currently, the crypto is gaining market share with Solanart, the NFT marketplace running on the network.
Solana’s minimal fees and high transaction speed are among the most significant advantages of using this platform for NFT fanatics. Moreover, with the introduction of Solana Pay, a new, decentralized, peer-to-peer payment platform, Solana has solidified its position in the market as the top cryptocurrency to invest in now.
The Solana network currently hosts over 500 dApps and numerous DeFi projects. Almost 5.7 million NFTs have been mined so far. Considering the rapid growth and network developments, this could be the right time to buy SOL for ensuring future profits.
WalletInvestor has a bullish forecast. SOL price could have a strong 2022 hitting $152 in a year. The algorithm-based site projected that the SOL price could rally to $539 by May 2027.
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APE seems to be a good buy now as it aims to enhance the creation and expansion of a decentralized Web 3.0 community.
Apecoin, Bored Ape Yacht Club’s very own cryptocurrency, gained striking popularity in recent months. The native token APE acts as the utility token for the entire APE ecosystem. It is governed by an ApeCoin DAO, which allows token holders to make decisions in the organization’s development.
While the team behind ApeCoin is attempting to build an ecosystem around the token as the coin has numerous use cases. The team is working towards creating more utilities for the token, making this a good time to buy ApeCoin. The APE token is designed to promote the growth of the Web 3.0 economy and is a community-controlled and built-on token aimed to promote culture, games, and commerce.
Recently, rapper Snoop Dogg has announced a special collaboration project with rapper Wiz Khalifa, exclusive to APE holders, pushing the token’s demand and popularity. Further, if other high-profile apes like Snoop Dogg start to release content that can only be purchased for $APE, the price of ApeCoin would see a significant rise.
Also, the token has already been adopted by Animoca Brands, a company that advances digital property rights for gaming and the metaverse. Benji Bananas, the company’s popular mobile game, is going play-to-earn (P2E) with the adoption of ApeCoin. The integration has helped increase the demand for APE, which would eventually push the token’s price to skyrocket.
In 2022, with more adoption and partnerships between other important blockchain networks, the price of ApeCoin would skyrocket, therefore our ApeCoin price prediction for 2022 may reach $11.
Check Out: ApeCoin (APE) Price Prediction
If you are planning to invest in cryptocurrencies this June, then Ethereum, Solana, and ApeCoin are all solid bets. However, it is always better to consider your risk appetite and investment strategy before investing in any cryptocurrencies.