With the massive growth in the crypto realm during the pandemic, investors are always looking for millionaire-maker cryptos. However, with nearly 25,000 cryptocurrencies on the market and dozens more launching daily, it’s no wonder new investors may feel they’re navigating uncharted waters.
These digital assets offer a range of possibilities. They are at various stages of development, including well-established favorites that have weathered the storm during the most tumultuous period for the sector. Despite the absence of a bull run over the past year, the potential for such a surge is always on the horizon.
As the era of tight monetary policy winds down, a potential dollar weakening could further boost these risk assets over the medium term. Therefore, let’s explore the cryptos to buy for long-term wealth.
| BTC-USD | Bitcoin | $29,900.26 |
| ETH-USD | Ethereum | $1,875.98 |
| SOL-USD | Solana | $17.08 |
Bitcoin (BTC)
Bitcoin (BTC-USD) is arguably the crown jewel of the crypto realm. The stock recently set a record of being the fastest asset to breach the coveted $1 trillion market cap. Though it’s been trading in the green for the better part of the year, savvy investors might find the current lull an opportune moment to enter the fray and load up on BTC.
BTC’s uptrend is poised to forge ahead, fueled by retail and institutional investors’ appetite for assets that are less volatile than equities. Altcoins may promise the moon to investors, but they come with a substantial dose of risk that could leave a hole in savings.
Moreover, the likes of Goldman Sachs (NYSE:GS) are already betting big on this digital gold, setting a lofty price target of $100,000. This bullish outlook, albeit speculative, shouldn’t be brushed aside lightly.
Ethereum (ETH)
Ethereum (ETH-USD) is the second-largest cryptocurrency and could also vault into the trillion-dollar club. A deep dive into its diverse business sectors — including NFTs, gaming, DeFi, and the metaverse — points to an encouraging picture ahead for Ethereum’s upward trajectory.
As the original blueprint for smart contracts and dApp development, ETH’s commanding has a well-established lead over its rivals. The cryptocurrency made a game-changing shift to a proof-of-stake system last year. Coupled with the transformative Merge, Ethereum has supercharged the crypto’s energy efficiency and solidified its competitive edge.
In a testament to Ethereum’s bullish prospects, a TokenInsight report pointed to a marked decrease in the amount of ETH on exchanges, a level unseen since July 2016. This trend suggests that investors are holding onto their Ethereum, lying in wait for a potential price surge.
Solana (SOL)
Solana (SOL-USD) has staged an impressive comeback since the start of 2023. While the upward trajectory might still stir speculation, ignoring SOL’s thriving ecosystem is tough. Its Layer 1 blockchain network has continuously posed a formidable challenge to Ethereum by making strides in decentralized finance, gaming, and NFTs.
Displaying a penchant for innovation and bold strategies, Solana is breaking new ground with the launch of Solana Mobile. Coupled with an expansion of its network of retail stores, Solana has set its sight on the mobile crypto market by tapping into a wide user base and seizing the potential of retail investors.
Moreover, the trailblazing device, equipped with cutting-edge Seed Vault technology, paves the way for seamless, on-the-go crypto management. Therefore, Solana remains a long-term player in the crypto space with the potential to reach the highs achieved during its bull-run in 2021.
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
