3 Cryptos to Buy Before They Blast Higher

  • These cryptos to buy are on an uptrend of late, and are poised for healthy gains once the economic challenges subside
  • Ethereum (ETH-USD): The network’s diversity and real-world utility, along with recent robust updates, ensure scalability and long-term potential
  • Bitcoin (BTC-USD): BTC is up by double-digit margins and its upcoming halving event in 2024 promises increased value and demand
  • Solana (SOL-USD): Its interoperability with other blockchains, and a focus on NFTs and dApps, and robust speeds offers a promising alternative to Ethereum
Cryptos to Buy - 3 Cryptos to Buy Before They Blast Higher

Source: Chinnapong / Shutterstock

With the current risk-off market sentiment, the market setup is far from ideal for cryptos. However, with February’s relatively encouraging U.S. inflation report, riskier assets have started pumping again. Industry bellwether Bitcoin (BTC-USD) is up over 55% from the start of the year.

Consequently, it’s the best time to wager on the best cryptos to buy.

With increasing mainstream adoption, smart money pouring in, and a laundry list of use cases, digital assets will continue growing over the long term. Furthermore, as governments and central banks across the globe explore digital currencies, the credibility of blockchain technology will only improve over time. As the world increasingly embraces digitization and decentralized finance, cryptocurrencies will continue to capitalize on these transformative trends, powering through the headwinds and reaching new heights.

Inflation slowed to 6% last month, which strengthened the likelihood of a 25 basis point increase in interest rates. Moreover, if macro headwinds start easing off, the Federal Reserve could employ a more dovish stance in the future. Those who think they are late to the crypto party should think again, as the sector is poised for sustained gains for the foreseeable future.

Ticker Cryptocurrency Price
ETH-USD Ethereum $1743.20
BTC-USD Bitcoin $27440.20
SOL-USD Solana $20.71

Cryptos To Buy: Ethereum (ETH)

Concept graphic of Ethereum Classic (ETC) crypto logo in green techno style
Source: shutterstock.com/BT Side

Ethereum (ETH-USD) is the world’s second-largest blockchain and arguably the most valuable in terms of real-world utility. This is because the number of projects built on the network continues to grow over time, providing incredible stability in a downturn.

Its much-anticipated Merge update went live last year, transitioning from a proof-of-work to a proof-of-stake protocol, significantly improving the network’s scalability, security, and potency over the long term. Once all updates are complete in its development roadmap, the crypto could potentially handle thousands of transactions with significantly better security.

Moreover, what gives Ethereum the edge over its competition, is the ability to accommodate other crypto initiatives and support other entities beyond coins, including non-fungible token communities and decentralized application developers. The diversity of Ethereum is one of its major strengths, which will continue to push the value of its network to new heights.

Bitcoin (BTC)

Bitcoin cryptocurrency with pile of coins, Vector illustrator
Source: Sittipong Phokawattana / Shutterstock.com

Bitcoin is the head-honcho of the crypto market, boasting a market cap of over $520 billion. BTC became available to the public over a decade ago and has become a household name.

The recent Silicon Valley Bank debacle has thrown light on the vulnerabilities of centralized monetary systems. Hence, it might be time to give decentralization a chance and wager on Bitcoin and other digital assets.

The Ordinals protocol was released in January, allowing audio/visual content to be transferred on Bitcoin’s blockchain, adding to its diversity. The update led to a healthy bump in activity on the network. As we advance, the Bitcoin halving event in 2024 could be a major catalyst for the network taking its price to multi-year highs.

Solana (SOL

Solana logo on phone screen stock image. Solana price predictions.
Source: sdx15 / Shutterstock.com

Solana (SOL-USD) is a scalable decentralized blockchain network for the development of NFTs and dApps. It is one of the top Ethereum killers that rose to prominence in 2021, potentially dethroning ETH in the above-mentioned markets.

Solana can effectively handle thousands of transactions every second making it one of the fastest networks in the sector. Its native crypto, SOL, shot up to a high of $260, representing a 91% bump from current prices. Once the crypto market goes on a sustained bull run, SOL could start gaining again.

Furthermore, its interoperability with other blockchains offers a spectacular upside ahead, promising to revolutionize finance, business, and other parts of society. Hence, investing in an altcoin is better to place your bets on Solana rather than take a shot in the dark.

On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University.

Article printed from InvestorPlace Media, https://investorplace.com/2023/03/3-cryptos-to-buy-before-they-blast-higher/.

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