Entering the crypto space can be very overwhelming at times, as the coins keep going up and down. With the development of technology and different applications, it can seem more difficult. There is a wide variety of choices in the market, which makes a person indecisive, and making the wrong decision can be very risky.
Here is the list of top 7 crypto currencies to consider before investing this December.
1. Uniswap (UNI)
Uniswap is in that phase where it is making continuous improvements. It will be launching Optimism, currently in Alpha phase, which means it is still in the testing phase and will take some time before it is available to all. Optimism will offer many benefits, such as fast and cheap transactions, scaling and the ability to pay gas fees with any token. Thus, now is the perfect time to invest in the coin. Investors can expect good returns in the near future when Optimism merges with Uniswap.
However, there have been controversies surrounding Uniswap regarding its governance and voting process.
2. Ethereum (ETH)
Launched in 2015, Ethereum is a decentralized platform, which means it is not governed by a single person or entity. It is also one of the most popular crypto-currencies after bitcoin. Ethereum has consistently performed well since its inception, the ethereum price could move in December.
3. Bitcoin (BTC)
Created in 2009, bitcoin is the first token to operate on a decentralized platform. It has done extremely well so far and has a market capitalization of about $318 billion. Bitcoin is one of the most popular crypto-currencies.Bitcoin’s price could move in December.
4. Compound (COMP)
Compound is a crypto-currency lending platform that is booming in the De-Fi market. It has shown commendable growth recently and its idea of getting institutional investors can make it explode. Cim’s recent launch offers a fixed interest rate of 4% per year to those investing in US dollars. This policy will attract massive interest from institutions, which will enter the crypto-loan market.
AAVE gives COMP tough competition despite the differences in offering policy.
5. Polygon (MATIC)
Polygon is a layer 2 blockchain technology that runs on Ethereum. With its recent acquisition of crypto company Hermez, transactions are going to be faster. The merging of two blockchains should yield quality results. It has performed very well over the past two years and has established itself in the crypto side.
The point to keep in mind is that any kind of impact on Ethereum will directly affect Polygon.
6. Ripple (XRP)
If Ripple wins the case against the SEC, which is likely, the price of Ripple will jump. Ripple is a global money transfer platform that works primarily with large financial institutions to help them work together more efficiently without the need for banks. It has been ranked as the third largest crypto currency for a very long time.
Ripple trades at a high value, making it an attractive investment.
7. Cardano (ADA)
Cardano is a proof-of-stake blockchain platform: the first to be based on peer-reviewed research and developed using evidence-based methods. It combines pioneering technologies that provide unparalleled security and sustainability for decentralized applications, systems and enterprises.
Traders have been buying ADA tokens in anticipation, which will lead to Cardano’s rise to prominence. Thus, 2023 may prove to be a big year for the token.