Bitcoin (BTC-USD) and other top cryptocurrencies have had a wild ride in recent years, and that hasn’t been any different over the past couple of months. A number of analysts and market watchers continue to focus on the innovation and technological progress made within the blockchain space, with some attempting to quantify the returns these tokens have provided.
For those looking to gain exposure to this sector, focusing on only one token isn’t a good move. It may be a better option to explore a portfolio of projects, each different from the other. Indeed, diversification matters in downturns. And whether you think we’re headed into one or not, that added safety can be tremendously important to some.
So, for those looking for life-changing gains, and a safer way to do so, explore three options to dive into right now.
Ethereum (ETH-USD)
Investors shouldn’t panic over Ethereum (ETH-USD), despite its recent volatility. Ethereum has been on a shot-term downtrend, slipping 0.5% in the past 24 hours and 2% over the past week.
The key concern is its weak technical profile, trading below its 50-day and 20-day moving averages. If volatility increases, the $3,100 support line must hold to prevent a drop to $2,900. Investors’ cautious collective response to last week’s downside move suggests perhaps more caution is ahead.
Nevertheless, some believe that this is a dip worth buying. Many in the crypto community anticipate spot Ethereum ETFs in the U.S. will be approved in short order. A number of analysts are predicting substantial capital inflows as a result. For example, Bitwise Chief Investment Officer (CIO) Matt Hougan forecasted $15 billion in net flows within the first 18 months. This is based upon thorough data analysis, including market comparisons and existing crypto ETPs.
Also, the analyst predicted investors would allocate to Bitcoin and Ethereum ETFs based on their market capitalizations. Those include 74% to Bitcoin ($1.266 billion) and 26% to Ethereum ($432 billion), derived from the top two cryptocurrencies’ market caps.
Solana (SOL-USD)
Solana (SOL-USD) rises and falls with Bitcoin, as do all altcoins. It’s valued for faster, cheaper transactions than Ethereum, earning prominence among projects often viewed as “Ethereum killers.”
Developers favor its high speed and low costs, as to users. And importantly, these views are held up by data. Recently, Solana outperformed Ethereum by being 46 times faster in a real-world test. Buy it for its performance and potential amid increasing U.S. debt.
Additionally, let’s look at Solana for potential crypto opportunities. Unlike many major digital assets, SOL gained 8% in market value in the past 24 hours but remained flat over the past week, losing about 0.5%. Technically, Solana is at a crossroads, facing challenges as it failed to secure its top-level support at $178 and then its 50-day moving average at $156. Also, it briefly dipped below its 200-day moving average at $133.
Recently, Solana Foundation launched “Actions” and “Blinks” to simplify and integrate blockchain transactions into everyday internet use. Solana’s “Actions” enable onchain transactions across platforms like websites and QR codes, simplifying integration for developers. “Blinks” turn any “Action” into a shareable link, making any website a starting point for transactions. These tools promote widespread crypto adoption by making experiences portable and actionable online.
Fetch.ai (FET-USD)
Fetch.ai (FET-USD) remains pivotal in integrating AI with cryptocurrency. It shows a strong bullish trend with FET surging 686% to $1.8 in the past year. And that includes a notable 32% rise in just this past week.
Positioned as an open-source protocol, Fetch AI facilitates a decentralized machine learning network and crypto economy. Its platform democratizes AI by enabling access to secure datasets and leveraging autonomous AI for global tasks.
Fetch.ai led gains among major AI-related cryptocurrencies, with FET rising over 25%. Bittensor (TAO) climbed more than 19%, Render (RNDR) jumped over 13%, while NEAR Protocol (NEAR) and Internet Computer (ICP) saw increases below 10%, per CoinGecko. Analyst Edward Wilson of Nansen.ai noted AI tokens surged following Nvidia’s rise to the world’s most valuable company, driven by its stock hitting a record high exceeding $136 on June 18.
On the date of publication, Chris MacDonald 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.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
