The Top 5 Cryptos to Own Right Now
Tuesday, May 18
Disclaimer: This is not financial advice. I have chosen 5 tokens that I have researched and think will be growth opportunities, but you should always do your own research.
1) $ETH — $3,372.07
Ethereum is a no brainer.
It’s Ether token functions as the native currency for the most dynamic and promising blockchain we’ve ever seen.
Decentralized Finance (DeFi) looks to be the hottest space in this new crypto asset class, and $ETH will see the synergy growth continue in both the long and short term.
The recent Bitcoin crash has set the markets back unilaterally and thus, provided a golden buy opportunity for $ETH. The product speaks for itself, but the Q1 Earnings Report shows the incredible growth over the last 4 months. It will continue without a doubt.
2) $LINK — $40.69
Chainlink: an Oracle Network that services Smart Contracts, providing data from outside of the blockchain
This is my most confident pick. It’s down on the week from $50 and trading at a delicious discount. I happily PacMan’d some more tokens at $39 today.
Chainlink provides a vital layer 2 service to smart contracts that are critical in DeFi, and the DeFi growth in the upcoming 6 months to a year will translate into residual growth for the $LINK token.
3) $SUSHI — $20.67
SushiSwap is the most dynamic DeFi application in terms of its functionality, providing yields of all kinds to its users at competitive rates. There are different kinds of yield accruals for liquidity providers (LPs) including APR returns, token issuance with transaction fee based accrual, and others.
User trade volume regularly exceeds $1 million daily with over $4 billion USD equivalent value in liquidity.
Compared to UniSwap, it’s primary competitor aside from AAVE, the revenues exceed UniSwap by 40% and its revenues are 55% higher.
4) $SNX — $23.94
Synthetix offers advanced financial products in the derivatives market as well as staking with attractive yields for LPs.
With the demand for derivatives markets increasing, SNX is on track to become one of the major players in this emerging market. Affording users leverage to trade against collateral is swiftly becoming a more high demand feature of DeFi, and I expect this trend to continue with the bull cycle.
5) $ADA — $2.02
$ADA functions as the native currency on the Cardano Blockchain, a self-described 3rd generation currency that aims to tackle the problem of scaling and efficiency that has been pervasive in the growth of the Ethereum Blockchain.
The technologically advanced coding language will afford a more dynamic blockchain capability as it grows, and it could well be a major cross-chain complement to Ethereum in the future.
$ADA is relative new token released this year, but the development team and vision is quite advanced. There are high hopes among Crypto Twitter’s elite for the Cardano Blockchain, and it will be an attractive place to develop apps with the lowest transaction costs for users.