- These are some of the best killer cryptos to buy as crypto continues widespread adoption.
- Polygon (MATIC): Has witnessed significant adoption lately.
- Solana (SOL): Top proof-of-stake network with fast-growing ecosystem.
- Tron (TRX): Interesting moves and immense potential.
The rise of digital money in the form of cryptocurrencies is really one of the biggest technological breakthroughs we’ve seen in some time. The allure of having decentralized, digital means to transfer funds across borders outside of a central system or government clearly has its benefits.
However, there are so many other utility-generating crypto projects out there. Thousands of blockchain-based projects have popped up, each looking to solve a unique problem. For investors, this can pose a problem. Sometimes too much choice isn’t such a good thing.
That said, there are some rather intriguing projects I think are worth diving into right now. Investors willing to put some money to work in this high-risk, high-reward space, narrowing down the list of cryptocurrencies into an appropriate watch list can be daunting. However, here are three top crypto projects I’m watching right now as potential winners in this space.
Killer Cryptos to Buy: Polygon (MATIC)
Backed by the Binance and Coinbase (NASDAQ:COIN) crypto exchanges, Polygon (MATIC-USD) is a decentralized application constructed on the Ethereum (ETH-USD) network as a way to grow Ethereum into a multi-chain system. It is perhaps the most promising “layer two” token, in my view.
That’s because Polygon is a top scaling solution for Ethereum. Developers use Polygon to deploy decentralized applications in a less-expensive and more efficient manner.
Widespread adoption has resulted in significant token price appreciation for MATIC. This adoption has taken many forms. However, in the NFT space, Polygon is really eating up market share. This project recently hit a new record, with 400,000 NFTs being minted on this network within 17 hours. Those are some record numbers that stand out compared to its layer-2 peers.
The value of MATIC tokens is derived from transaction fees paid on the Polygon network. This implies more usage on Polygon’s scaling solution leads to greater adoption of the token and more demand. Accordingly, investors bullish on the growth of Ethereum scaling solutions may want to consider Polygon, given its recent dip from all-time highs seen earlier this year.
One of the top layer-1 proof-of-stake networks out there is Solana (SOL-USD). Solana’s growth, relative to incumbents such as Ethereum, makes for a very compelling story for growth investors. Indeed, in the world of smart contract-enabled blockchains, Solana continues to pick up market share at a rapid rate. For long-term growth investors in the crypto world, this kind of growth is what many are after.
Solana has grown its ecosystem quickly for a number of reasons. The network’s unique proof-of-history consensus mechanism allows the network to handle thousands of transactions per second. Despite recent outages and growing pains, there’s a lot to like about the scalability Solana has shown. Scalability continues to be a key issue plaguing most blockchains right now.
In the world of NFTs and other DeFi projects, Solana is also making big strides. Over the long term, investors bullish on the growth of utility-generating projects may want to consider Solana. In my view, the growth has only started, making this token attractive on its impressive recent dip.
Killer Cryptos to Buy: Tron (TRX)
As far as Web3 projects go, Tron (TRX-USD) is certainly an interesting option for investors to consider.
Tron is one of several crypto projects looking to decentralize the internet using blockchain technology. This platform has been engineered to handle peer-to-peer file sharing, much like the likes of many tech behemoths.
Indeed, this is one area of disruption I think cryptocurrencies like Tron can make a lot of noise. That’s because blockchain technology provides essentially what is a digital ledger. Using this technology for file sharing is an obvious, yet extremely useful, use case for this technology.
Tron has grown to become a top-25 cryptocurrency by market capitalization, as investors realize this potential. Part of this growth has to do with the fact that Tron’s founder, Justin Sun, recently announced the move toward a decentralized algorithmic stablecoin. With other stablecoin projects taking off, particularly those focused on stabilizing their tokens by algorithmic means, there’s a lot of near- to medium-term growth potential with this token.
Over time, I think Tron has unique disruptive potential in the crypto world. Accordingly, for investors taking the long view on this sector, this is a project to dive into right now.
On the date of publication, Chris MacDonald held a long position in SOL-USD. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.