The prospect of another bull run is looming, with investors searching for the most reliable cryptos to invest in to capitalize on the conducive market conditions.
Amid talks of interest rate cuts and the turbulence in the traditional financial systems, reliable cryptos to buy have become a topic of renewed interest, despite the inherent volatility in the crypto sphere.
The crypto sphere experienced remarkable turbulence last year, marred by a plethora of failures, implosions, and frauds contributing to a 60% drop in market value.
However, brighter days seem to have dawned on the market, with crypto prices up over 40% year-to-date. Encouraging economic data has captured traders’ attention, contributing to the renewed interest in risk-on investments.
Let’s delve into the three most reliable cryptos for long-term gains.
| ETH-USD | Ethereum | $2,068.18 |
| ADA-USD | Cardano | $0.43 |
| DOT-USD | Polkadot | $6.66 |
Ethereum (ETH)
Ethereum (ETH-USD) is the second largest crypto in market capitalization and is certainly the most valuable in real-world utility.
ETH has become a backbone for smart contracts, NFT trading, and decentralized finance. Its native token Ether has become an emblem of digital transformation and innovation.
The company has been making waves in the crypto sphere of late, with its latest upgrade, Shapella, generating massive buzz among investors and enthusiasts alike.
This development is the first major update following the ‘Merge’ last year, where the network transitioned the network from a proof-of-work system to a more energy-efficient proof-of-stake consensus mechanism.
The Shapella upgrade allows investors to withdraw their staked tokens for the first time. However, the option to withdraw may have initially stirred concerns about a potential mass exodus, but those who keep their tokens staked are likely to reap greater rewards.
Therefore, faced with uncertainties surrounding the crypto market, Ethereum remains one of the most reliable cryptos out there.
Cardano (ADA)
Cardano (ADA-USD) has established itself as one of the most popular cryptocurrencies over the past several years, fueled by its development team’s robust research-driven approach.
It’s often dubbed as an “Ethereum killer” to become of the world’s largest financial operating networks. Cardano explores DeFi products and tackles complex problems such as blockchain interoperability, legal contract tracing, and other related issues.
While still in its infancy compared to Ethereum, its early adoption of a proof-of-stake consensus model and having smart contracts on the platform have helped it garner widespread attention. With the Hydra update, Cardano’s transaction capacities could skyrocket, further cementing its popularity as a smart contract platform.
It recently completed 60 million blockchain transactions on its network and was the leading crypto in development activity in 2022. Therefore, with a solid development framework, a dedicated team, and a bright outlook ahead, Cardano remains a top crypto pick for the long haul,
Polkadot (DOT)
Polkadot (DOT-USD) is another proof-of-stake crypto platform that champions interoperability among diverse blockchains. Interoperability facilitates the ease of integration and data sharing, effectively strengthening blockchains.
Polkadot essentially unites permissionless blockchains, effectively creating an ecosystem that fosters collaboration while preserving the uniqueness of each individual blockchain network. Its native token, DOT, is up over 50% since the beginning of the year after shedding a ton of value last year.
Apart from its innovative structure, it is based on a shared security model, allowing developers to build their blockchains without affecting security.
Polkadot’s parachains provide built-in transaction validation enabling developers to focus on their projects instead of tackling complex security measures. This level of flexibility and efficiency has even captured the interest of major companies such as Toyota, which is looking to harness Polkadot’s potential for optimizing its business.
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
