Knowing which cryptocurrency to buy right now can be a tough ask - not least because there are thousands of well-established tokens in the crypto markets.
To help clear the mist, this video explores the 4 best crypto to buy and hold in May 2022 and beyond - based on metrics such as growth potential, risk, roadmap targets, and more.
So, watch this video till the end so you don't miss any details.
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Before we get into the first crypto project, please note that you should not consider this video as financial advice. You should always do your research.
Cryptos are very risky. Any project has the potential to fall through the cracks, but let's dive in.
The first crypto you should buy and hold in May 2022 is Chainlink (LINK).
If you bought this crypto in 2017 at its all-time low and sold it in 2021 at its all-time high, you would have earned almost 350X.
So, for those who don't know, Chainlink is a decentralized oracle system. Since the creation of Ethereum and the increasing use of decentralized applications in 2017, smart contracts are slowly proving their usefulness. The consequences are diverse, affecting finance, insurance, governance methods, and more.
A new type of application is emerging, hosted on public blockchain networks, mostly on Ethereum. These applications are open to all, auditable, censorship-resistant, running flawlessly 24 hours a day, and can hold and transfer value in the form of tokens.
While the execution of these smart contracts is predictable and unstoppable, there are points of weakness for functions that require data external to the blockchain.
Most recently, it was a mention from Google, which thinks it can use the technology behind ChainLink to serve as a bridge between its BigQuery cloud service and Ethereum contracts, as well as a listing on Coinbase that fueled the hype and inflated the token's price to over $11.
The current outstanding amount of 467 million LINKs represents almost half of the total 1 billion tokens, which brings ChainLink's theoretical market capitalization to $5 billion. These 467 million LINKs will be used as an economic incentive for ChainLink nodes to do their oracle work. This crypto is as beneficial to the holders as it is to the developers.
Our next crypto is Solana.
Solana is the fastest blockchain and cryptocurrency ecosystem in the world, with over 400 projects covering DeFi, NFTs, Web3, and more. It is currently the most likely Ethereum killer with a competitive platform and low transaction fees.
Solana is a promising cryptocurrency with impressive growth potential.
Solana was introduced in April 2019 and began trading for less than a dollar per token. Since then, its value has skyrocketed, trading for over $250 in November 2021.
The Solana platform is a decentralized computer network that uses blockchain to operate. It was created by Anatoly Yakovenko. Like Ethereum, Solana allows for the creation of de-securitized applications (DApps) and the blockchain has attracted hundreds of project holders who have chosen it over Ethereum.
Solana is currently the best-positioned blockchain to compete with Ethereum. It is faster with up to 50,000 transactions per second against only 15 for Ethereum. Its fees are considerably more competitive. It is the best alternative to Ethereum.
Even though it is a recent project, SOL's price is quite stable. However, the cryptocurrency is still more volatile than Ethereum.
There is no doubt about the long-term adoption of Solana.
The Solana price has increased more than 325 times in just 2 years, from $0.78 to $253. Currently, its price is back down to $88, which is a very good entry as it could soon reach $1000. And the reason is that its adoption is becoming more and more frequent. And by the way, it is the fifth most valued crypto at the moment.
The third crypto you should buy in May 2022 is going to be Cosmos.
Cosmos is a decentralized network of autonomous parallel blockchains. Each blockchain is scalable and interoperable. Before Cosmos, blockchains were isolated from each other and unable to communicate with each other.
Cosmos is remarkable for many reasons. Most notably, it has a unique approach to the cryptocurrency market, serving the entire blockchain industry to unify the industry. As a result, investors are keeping a close eye on Cosmos as it develops its use of blockchain.
Cosmos claims to be the "internet of blockchains". A network of interconnected blockchains, able to link all the others and provide them with tools to exchange without friction and develop infinite possibilities.
For example, let's say you only own Bitcoin and you want to send it to someone who only owns an Ethereum wallet. Thanks to Cosmos, this transaction is possible. A bit like a bank performing a foreign exchange transaction and a transfer on two different financial networks such as SEPA and SWIFT, but fully automated and decentralized.
Cosmos also makes it possible to develop an application that can be used on all blockchains at once, without the need to program it on each blockchain separately.
Cosmos opens up extraordinary possibilities. For example, the possibility of connecting the DeFi ecosystem of Ethereum to Bitcoin has enormous implications: it inherently adds investment opportunities to Bitcoin.
ATOM is the native cryptocurrency of the Cosmos system.
We are very excited and looking forward to the development of this project. We're especially looking forward to the synergies that can be created between the Bitcoin and Ethereum blockchains. And very recently, the developers have been talking about this and that's why you need to own this crypto.
And finally, we have Avalanche.
Avalanche crypto is a virtual currency that is based on a project to launch applications using financial assets, trading, or even decentralized finance services. It aims to function as a platform that allows the creation of decentralized applications.
Its network can support more than 6500 transactions per second, which differentiates it from other platforms like Ethereum. Through smart contracts, it is possible to exchange all types of assets and control this cryptocurrency project in a decentralized way.
AVAX is considered a reliable project in which it is important to invest without any doubt. Its constant progress since its creation is moreover a real principle that investors will be able to rely on. Moreover, avalanche is in the top 100 virtual currency projects having reached an exchange value of $2.4 billion over 24 hours and a market cap of $16.5 billion.
The explosion of the avalanche sharks project in the coming years is quite likely. Besides, several aspects on which its evolution is based can elucidate this. Launched in 2020, it already has more than 1,000 full block-producing Nodes on its Denali test network at present. Likewise, it performs over 4500 transactions per second with higher throughput than other networks.
Since the launch of the Avalanche brand, the platform has found itself in a prime position where it is becoming one of the most important cryptocurrencies. In just 5 months, this currency has seen a very large increase due to the announcement of Avalanche Rush, and this increase is calling other investors to pay attention to the project. So, you can see why you should add this crypto to your list of cryptos to watch in May.
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