The market is increasingly adopting the use of cryptocurrencies. Cryptos could allow retail investors to make a quick buck or even change their whole financial future. Now, even Wall Street is coming into the scene as banks like J.P. Morgan Chase (NYSE:JPM) have allowed its clients to start investing in Bitcoin (BTC-USD) and other cryptos to buy.
The excitement behind the cryptocurrency asset class is not only driven by the adoption of the space. Recent rallies, including Bitcoin surpassing $50,000 again, have seen a rise in other coins in the market as well. Rising by double- or triple-digit returns further attracted attention and willing buyers to the asset class.
With these developments, it is easy to see how other coins, such as the following list of three, can quickly become your top choices. Keep reading for a list of cryptos to buy that are on the verge of becoming household names.
Solana (SOL)
As of the past twelve months, Solana (SOL-USD) followed the type of price action that most other cryptocurrencies have gone through. This action can defined as a tight channel with very little volatility. The behavior can be accredited to the same price action seen in the leader of the pack, Bitcoin.
That trend has now changed to one where riches are made. You see, Solana rose by as much as 500% in the past two quarters, a period when the S&P 500 index (the leader in the world of stocks) only squeezed out a low double-digit performance. Stocks were put to shame by the newer and less sophisticated world of cryptocurrencies.
Being a direct competitor to Ethereum (ETH-USD), Solana shares the same properties that make it a core player. Solana is now a pillar for the mainstream blockchain world, enabling assets like non-fungible tokens (NFTs) to web3 applications. With the big Bitcoin halving approaching, these mainstream applications likely drive investor interest and significant price advances for this option in cryptos to buy.
Avalanche (AVAX)
With a similar price action to Solana and all other cryptocurrencies during the past twelve months, Avalanche (AVAX-USD) has delivered investors a more than 300% return recently. It also left behind most other ‘traditional’ asset classes like stocks and bonds.
According to Google Trends, there has been a breakout in the volume of searches for the word “Avalanche”. Unlikely linked to actual avalanches in nature, these searches may have come about due to the recent price action in the cryptocurrency, now that it is also being more readily adopted.
Similar to Solana, Avalanche also shares Ethereum’s capabilities. This could lead to mainstream adoption amid increasing participation.
All this is likely to push the popularity of its functionality and potential wealth building trend.
Chainlink (LINK)
Is it surprising that Chainlink (LINK-USD) also saw similar price action over the past twelve months? This coin saw a more than 300% rise to bring it inside the ‘popular’ club. But there is much more to this coin than its wealth-building potential.
Maybe it is because of coin’s recent rally, or maybe it is the expectation that is held in the cryptocurrency space now that Bitcoin is set to halve in the coming weeks. A rally in Bitcoin will likely bring the rest of the asset class higher. Still, people have become more and more interested in the Chainlink coin.
This Google Trends chart shows a breakout in the search for “Chainlink” going back as far as January of this year. The adoption from mainstream investors goes back beyond the newfound searches for Solana and Avalanche.
Chainlink is part of a data provider enabling the functionality and scalability of smart contracts. This makes it only a matter of time before mainstream media and investors adopt this name as a household portfolio addition.
As of this writing, Gabriel Osorio-Mazzilli did not hold (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 (no position)
