5 Cryptocurrencies to Buy at Best Prices for Top Blockchains PlatoBlockchain Data Intelligence. Vertical Search. Ai.

5 Cryptocurrencies to Buy at Best Prices for Top Blockchains

When considering the 5 cryptocurrencies to buy from among the top blockchain projects, several factors come into play. Short-term investors usually consider trends and hop on the hottest assets in order to make quick gains. However, there is a growing number of investors who buy assets based on functionality.

Since cryptocurrencies run on blockchain technology, examining an asset’s technology can help value-seeking investors to decide whether an asset is worth it. The Ethereum blockchain remains the most popular blockchain platform available, but several others have grown their adoption.

The assets below have been picked because we believe their blockchains have true value and functionality. Let’s get to it:

1. Buy Solana (SOL)

Kicking off our list of the best cryptocurrencies to buy is Solana – a high-performance blockchain launched in March 2020. Built by the Solana Foundation, it has risen to become a top blockchain platform, focusing on supporting decentralized app (dApp) developers and allowing them to evade performance bottlenecks.

Solana’s native token is SOL, which it launched last May. The token has performed well since its launch, moving from a launch price of $0.77 to $43.74 at press time. SOL’s rise was relatively linear up until last month, when the general market downturn caused its price to drop from its all-time high of $58.16 on May 18 to a low of $20.20 on May 24. With a current $43.74 price tag, SOL is working to get back into the bull market.

Solana price charts June 7

Bears have so far tried to stall the asset’s growth, keeping it below the $45 mark so far. However, they’ve failed to plunge SOL’s value below the 20-day EMA of $36.39. This indicates that market sentiment is favoring SOL.

In terms of fundamentals, SOL is also looking strong. The Solana Foundation partnered with investment firm ROK Capital to launch the Solana Eco Fund – a $20 million fund that will spearhead the blockchain’s expansion to Asia. the company is also reportedly working on a capital raise that could be valued between $300 million and $450 million.

2. Buy Polygon (MATIC)

The Polygon Network is a multichain scaling solution built on the Ethereum blockchain. The network aims to provide cheaper and quicker transactions on the Ethereum blockchain using layer-2 parachains – essentially, blockchains that run parallel to Ethereum.

Users can deposit Etheruem-native tokens to a Polygon bridge smart contract. The network’s token, MATIC, is used to pay transaction fees and also participate in proof-of-stake (PoS) consensus. MATIC makes an entry on our list of best cryptocurrencies to buy because of its performance across May. Amid the market slump, MATIC emerged barely unscathed. The asset hit its all-time high of $2.6 on May 18 – a period where other cryptocurrencies saw double-digit drops. While it eventually dropped and bottomed out at $0.76 on May 23, it has since risen by 118 percent and currently sits at $1.66.

Polygon price charts June 7

All in all, MATIC gained 120 percent in May while all large-cap cryptos ended the month lower than they began. Analysts and investors believe that such a strong performance is only a harbinger of what is to come.

Last month also saw Polygon receive an investment from serial entrepreneur Mark Cuban. Reports confirmed the investment, although it is unclear how much the Dallas Mavericks owner ponied up for it. All in all, MATIC shows that an asset-backed by strong fundamentals can hold its own even in a market downturn.

3. Buy Kusama (KSM)

The next entry on our list of best cryptocurrencies to buy is Kusama – a blockchain network developed by Polkadot. Kusama is currently in the final stage of its rollout, which will involve the deployment of parachains on its network.

The network’s developers also announced last week that they had voted to upgrade its first common good parachain, named Shell, to Statemine. Shell is where developers run tests on Kusama’s functionality. With the upgrade, the parachain will now be able to support several functions – including minting fungible and non-fungible tokens – on the Kusama network.

Kusama price charts June7

The same day, Asian venture capital firm Master Ventures announced a $30 million VC fund to support blockchain projects looking to win slots on the Polkadot and Kusama networks. These announcements immediately shot the price of KSM – Kusama’s native token. KSM hit an all-time high of $480 on June 3 – a day after both announcements came out. This marks a healthy recovery for the asset, whose value was also affected in May’s market downturn. KSM took a dive from its all-time high of $623 on May 18, bottoming out at $200 on May 23. June 3’s rise marked a 140 percent increase in less than two weeks.

4. Buy Polkadot (DOT)

Polkadot is an open-source blockchain protocol that uses parachains to improve network scalability and security. An individual blockchain in the Polkadot ecosystem is known as a parachain. All parachains are connected by the Relay Chain. The idea here is that parachains will be able to easily exchange information with the Relay Chain at all times.

Any developer can build their custom parachain on Polkadot. Once connected to the network, each parachain becomes interoperable with the others. The Polkadot developers also built Kusama – another blockchain whose token features on our list of the best cryptocurrencies to buy.

Polkadot is one of the most popular Ethereum alternatives. The beginning of 2021 was marked by the rise of several top blockchain platform tokens, and Polkadot’s DOT was one of the headliners.

Polkadot price charts June 7

Moving on to May, DOT’s rally was halted by the downturn. From a $49.53 high on May 18, DOT plunged to a low of $14.84 on May 23. The asset’s current $25 price peg shows a healthy 68 percent correction so far.

DOT’s bullish fundamentals are similar to those of KSM. The above-mentioned VC fund from Masters Ventures will subsidize bidding for slots on the Polkadot ecosystem for dApp developers. This will lead to greater adoption for the blockchain- and DOT as well.

5. Hedera Hashgraph

Like many of the projects on our list of the best cryptocurrencies to buy, Hashgraph is quite unique. Here, the speed of transaction verification increases as more transactions are added to the network. Thanks to the Directed Acrylic Graph (DAG) technology, Hashgraph achieves over 100,000 transactions per second – comparable to mass-market payment systems worldwide.

Hedera’s native token, HBAR, has seen a rise in attention over the past month as investors look towards eco-friendly blockchains. After Tesla announced it would no longer accept Bitcoin payments, Deepak Chopra- a famous meditation advocate and guru, responded by promoting HBAR.

Hedera Hashgraph price charts June 7

HBAR’s price has done relatively well over the past month, dropping from a high of $0.39 on May 14 and bottoming out at $0.151 on May 19.

The asset’s current price peg of $0.228 makes for an impressive 50.9 percent gain thus far. With the asset already so close to its May high, investors are confident of a total recovery. So, it makes its appearance on our list of best cryptocurrencies to buy as well.

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Source: https://insidebitcoins.com/news/5-cryptocurrencies-to-buy-at-best-prices-for-top-blockchains

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