3 Blockchain Cryptocurrencies with Huge Upside Potential


  • The growth of blockchain technology has paved the way for the rise of cryptocurrencies, leading to a surge in blockchain investing and the emergence of various blockchain coins.
  • Ethereum (ETH-USD): Ethereum’s platform enables the building of smart contracts and dApps, attracting global decentralized financial products.
  • Tether (USDT-USD): Tether is a stablecoin that aims to reduce volatility and make transferring between traditional and digital currencies easier, with its value directly linked to the US dollar.
  • Polkadot (DOT-USD): Polkadot aims to connect various blockchains to create a decentralized and interconnected ecosystem supported by the XCM communication standard.
cryptocurrencies - 3 Blockchain Cryptocurrencies with Huge Upside Potential

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Blockchain technology has transformed financial transactions, and the rapid rise of blockchain cryptocurrencies is remarkable. With its decentralized and secure nature, blockchain has become an ideal way to conduct financial transactions, leading to rising demand for blockchain coins as more investors recognize the potential of blockchain investing.

With the world becoming more interconnected, the possibilities for the growth of blockchain are endless.

The technology has already significantly affected various industries, including finance and healthcare, and has the potential for further innovation. With blockchain cryptocurrencies leading the way, the future of this technology is anyone’s guess.

Despite the industry’s evolution over the past 15 years, extreme volatility remains a significant issue in the cryptocurrency market.

High-profile failures, implosions and frauds have plagued digital assets, causing the market to lose 63% of its value in 2022 alone. The blockchain sector remains an exciting new frontier for investors.

Plus, since the start of 2023, things have been getting relatively better in the crypto world. Several cryptos are finally showing signs of life, and investors are clamoring for a piece of the action. Because of high inflation and an aggressive Fed, people are turning to cryptocurrencies, once again, as a hedge.

If you’re open to assuming some level of risk, now presents an opportunity to dive in and reap considerable profits. Without no more delay, let’s examine three cryptocurrencies that are exceptional purchases.

ETH-USD Ethereum  $1,896.11
USDT-USD Tether $1.00
DOT-USD Polkadot $ 6.08

Ethereum (ETH-USD)

Etereum coin is in pocket. Ethereum is a decentralized, open-source blockchain with smart contract functionality. ETH crypto
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Ethereum’s (ETH-USD) platform enables the building of smart contracts and dApps without interference from third parties. Applications run without downtime or fraud.

The platform aims to provide decentralized financial products accessible globally. This feature is especially attractive to those in countries without proper infrastructure or identification, who can access bank accounts, loans, insurance, and other products previously unavailable.

Ether, a platform-specific cryptographic token, powers applications on Ethereum. Ether is primarily used by developers creating and running applications on Ethereum. Investors can use Ether to purchase other digital currencies.

Now, when investing in cryptocurrencies, it is all about timing. At the latest update, Ethereum has surged nearly 52% since the beginning of the year, indicating an exceedingly robust performance. However, the token’s value has dropped more than 10% in the last seven days.

There is nothing specific one can point to for this shift in sentiment. Instead, after the Shappella upgrade, we see investors take their profits.

The Shapella upgrade of the Ethereum network has garnered substantial anticipation, second only to the renowned Ethereum Merge. It represents the ultimate phase enabling validators of Ethereum’s Proof-of-Stake (PoS) network to release ETH that had been locked within a smart contract on the Ethereum Beacon Chain.

As a consequence, investors naturally drove up the stock’s value. However, sentiment has since moderated somewhat. Nonetheless, this presents an excellent opportunity to acquire Ether at a substantial markdown.

Tether (USDT-USD)

A concept token for the Tether cryptocurrency.
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Tether (USDT-USD) is a popular stablecoin that pegs its value to an external reference point to reduce volatility.

Tether’s value is linked to the U.S. dollar, making transferring between traditional currency and cryptocurrencies easier. Stablecoins like Tether aim to reduce the price volatility that often deters users from digital currencies like Bitcoin (BTC-USD).

Launched in 2014, Tether aims to make it easier to use traditional currencies digitally through blockchain technology. This cryptocurrency provides a way for individuals to transact in fiat currencies with the benefits of blockchain while minimizing the volatility and complexity associated with other digital currencies.

Tether is managed by a company called Tether Limited, responsible for controlling the supply of Tether tokens, maintaining reserves to support their issuance, and ensuring a stable price.

Tether Limited has faced controversy, leading to a decline in its price to as low as $0.90. However, Tether has experienced fluctuations in value, at times exceeding or falling short of its $1 target.

Yet, stablecoins like Tether may experience increased demand during market downturns, driving their price.

Polkadot (DOT-USD)

Golden Polkadot (DOT-USD) dot coin cryptocurrency on computer electronic circuit board background
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Polkadot (DOT-USD) is a cryptocurrency that links various blockchains to establish a decentralized and interconnected ecosystem. The Web3 Foundation is responsible for funding and developing Polkadot.

The vision of Web3 is to promote collaboration between blockchain-based technologies, to shift ownership from centralized organizations to content creators and consumers.

Polkadot has launched or is developing approximately 550 projects. Its key innovation lies in its ability to seamlessly connect various blockchains, enabling developers to create applications that interact with multiple blockchains.

Polkadot’s interconnection efforts are supported by the XCM communication standard, which was recently upgraded to version 3. This upgrade improves the decentralization and resilience of the Polkadot ecosystem.

Polkadot’s parachains offer a secure and adaptable environment for various projects, enabling the development of a broad range of use cases from DeFi to gaming. Moreover, its interconnected network of blockchains promotes the creation of a more inclusive and accessible Web3 ecosystem.

The potential for Polkadot to realize its vision of a connected, multichain future makes it an attractive investment opportunity. By eliminating network barriers, Polkadot aims to offer a seamless experience to users of Web3 in their daily lives.

Its cutting-edge technology, commitment to a secure and interconnected Web3, and ability to transform the internet make it a formidable player in the cryptocurrency realm.

Done with this list but want to continue reading about cryptos? Well, have no fear! Here are two excellent cryptocurrency articles for you to peruse.

On the publication date, Faizan Farooque did not hold (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.

Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio.

Article printed from InvestorPlace Media, https://investorplace.com/2023/04/3-blockchain-cryptocurrencies-with-huge-upside-potential/.

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