Entering the crypto space can be very overwhelming at times as coins keep going up and down. As technology and different applications develop, this can seem more difficult. There is a wide variety of choices in the market which makes a person indecisive and making the wrong decision can be very risky.
Here is the list of the top 7 cryptocurrencies to consider before investing this December.
1. Uniswap (UNI)
Uniswap is in this stage where it makes continuous improvements. It will launch Optimism, which is currently in Alpha stage, which means that it is still in the testing phase and it will take some time before it is available to everyone. Optimism will provide many benefits, such as quick and cheap transactions, scaling, and the ability to pay gas tariffs with any token. Therefore, this is the perfect time to invest in the coin. Investors can expect good returns in the near future when optimism merges with Uniswap.
However, there has been controversy surrounding Uniswap regarding its governance and voting process.
2. Ethereum (ETH)
Launched in 2015, Ethereum is a decentralized platform, meaning it’s not governed by a single person or entity. It is also one of the most popular cryptocurrencies after bitcoin. Ethereum has always performed well since its inception, Ethereum price may move in December.
Created in 2009, bitcoin is the first token to operate on a decentralized platform. It has done very well so far and its market cap is around $318 billion. Bitcoin is one of the most popular cryptocurrencies. Bitcoin price could move in December.
4. Compound (COMP)
Compound is a cryptocurrency lending platform that is booming in the De-Fi market. It has recently shown commendable growth, and its idea of getting institutional investors could blow it up. The recently launched Cim offers a fixed interest rate of 4% per annum to people investing in US dollars. This policy will attract huge interest from institutions, which will enter the crypto lending market.
AAVE offers stiff competition to COMP despite differences in bidding policy.
5. Polygon (MATIC)
Polygon is a layer 2 blockchain technology that runs on Ethereum. With its recent acquisition of cryptocurrency firm Hermez, transactions will be faster. Merging two blockchains should produce quality results. It has done very well over the last couple of years and has established itself in the cryptocurrency industry.
The point to keep in mind is that any kind of impact on Ethereum will directly affect Polygon.
If Ripple wins its case against the SEC, which is likely, the price of Ripple will go up. Ripple is a global money transfer platform that works primarily with large financial institutions to help them work together more efficiently without the need for banks. It has been ranked as the third largest cryptocurrency for a long time.
Ripple trades at a high value, making it an attractive investment.
7. Cardano (ADA)
Cardano is a proof-of-stake blockchain platform: the first based on peer-reviewed research and developed using evidence-based methods. It combines cutting-edge technologies that deliver unprecedented security and durability to decentralized applications, systems, and businesses.
Traders bought ADA tokens early which will lead to the rise of Cardano. Hence, 2023 could prove to be a big year for the token.
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