Although volatility has been looming in the crypto market, it’s been a generally positive ride for most cryptocurrencies this year. The entire crypto market is up more than 100% over the past year. And many top cryptos to buy continue to see increased buying interest from retail and institutional investors alike.
Certainly, plenty of catalysts drive this market higher right now. And we’ll get to a bunch of these shortly. But the reality is that not all cryptos are created the same. For those looking for top-tier cryptos to buy, name recognition, network effects and fundamentals matter.
In that respect, consider three of the best crypto projects for long-haul investing. Let’s dive into reasons for consideration, for those who believe the crypto market has another leg higher from here.
Bitcoin (BTC-USD)
As the leading crypto in the market that offers stronger trends despite its volatility, Bitcoin (BTC-USD) remains a top performer. Its risk-adjusted returns continue to lead the market (based on the analysis of many crypto experts). And, this token continues to provide returns that dwarf most major indices over the past decade. Although challenges exist, the long-term outlook remains positive for the world’s largest cryptocurrency.
Indeed, Bitcoin stands out among its peers in terms of its future growth potential due to its widespread recognition and constant demand. Spot Bitcoin ETFs brought in $53 billion in just four months in the U.S. market alone, attracting institutional capital to a degree many didn’t think possible. BlackRock’s Robert Mitchnick predicts more institutions will enter, signaling further growth potential.
Additionally, Bitcoin’s recent move has mirrored 2016’s post-halving, which suggests the token could be nearing a local bottom. Rekt Capital suggests it could reach $350,000 at this cycle’s peak. Also, analysts note that Bitcoin’s “last pre-halving retrace” signals a potential 48% spike, as seen in 2016. If that’s the case, now could be a great time to load up on Bitcoin from both a fundamental and technical perspective.
Ethereum (ETH-USD)
Thriving independently compared to its peers in the market, Ethereum (ETH-USD) continues to use extensive cases in NFTs, DeFi and smart contracts. In fact, Ethereum expects to grow its smart contracts network to $12.55 billion by 2032. Cathie Wood sees Ethereum’s potential in utility and adoption. She is bullish on both Ethereum and Bitcoin long-term.
The blockchain faced a 4% decline in recent weeks but regained $3,000 support. After dropping to $2,917, the token stabilized at $2,815, then climbed back over $3,000. Despite volatility, Ethereum currently trades around $3,050 per token. Long-term investors hope for market support after ETH’s peak above $4,000 this year.
On May 4th, Santiment reported a record 200,000 new Ethereum addresses, the highest in nearly two years. The increase made interest in Ethereum stronger, showing bullish sentiment is building. If this continues, I think there’s plenty of upside ahead for this DeFi leader.
Solana (SOL-USD)
Launched four years ago, Solana’s (SOL-USD) rapid transactions and low fees make it a great crypto investment. These two factors have driven the token’s exponential growth in terms of transaction volume, users and token price appreciation. According to recent data, DEX trading has surpassed Ethereum’s $1.29 billion as it reached $1.3 billion. Also, this proves that Solana is a great alternative to Ethereum, and could be the “Ethereum killer” so many have been looking for.
Solana’s recent DEX trading volume increase proves this token’s viability as a major player over the long-term in the DeFi sector. Low trading fees have led to an expanding ecosystem, driving network effects that are unparalleled among altcoins.
This is a network that has seen hiccups in the past, with outages and security concerns hampering the token during the recent crypto winter. But given Solana’s recent momentum, driven by positive developments like the upcoming cross-chain bridge with Bitcoin by the Zeus Network, I think there’s plenty of upside ahead for investors looking to get in at current levels.
On the date of publication, Chris MacDonald 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.
