10 Cryptocurrencies Reddit is Buying for the Next Bull Run
The past year was in many ways a defining one for the crypto industry. Bitcoin, the most popular coin, reached an all-time high of around $65,000 in mid-April before witnessing a spectacular fall in the summer that saw the price shrink by almost half to around $30,000. The coin had begun the year trading at near $29,000. Other coins like Ethereum underwent a similar high and low, highlighting the risks associated with investing in crypto but also underlining the resilience of the blockchain technology in the face of regulatory and trust hurdles. Institutional and celebrity endorsements of crypto reached a record high in 2021 as well.
Investors who want to take advantage of the explosive growth potential of the new technology should consider investing in crypto-focused companies. Some of the top crypto stocks to buy now include NVIDIA Corporation (NASDAQ:NVDA), Mastercard Incorporated (NYSE:MA), and Alphabet Inc. (NASDAQ:GOOG)
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These were picked from a careful assessment of comments published on different Reddit forums over the past twenty-four hours. The details of each cryptocurrency are mentioned alongside a discussion around top companies working in the sector to provide readers with some context for their investment decisions.
The hedge fund sentiment around each stock was calculated using the data of 867 hedge funds tracked by Insider Monkey.
Cryptocurrencies Reddit is Buying for the Next Bull Run
10. Loopring
Loopring is a cryptocurrency founded by Daniel Wang, a former software engineer at Google, which uses the Ethereum blockchain to trade coins. The main advantage that the coin offers over others that use the same network is the cost at which it makes trades. These costs are a fraction of what others like Uniswap offer for the same trades. Loopring aims to be the coin that will eventually lead the decentralized building of non-custodial, order book-based exchanges. It will leverage zero-knowledge proofs for this.
9. Fantom
Fantom has risen to prominence on Reddit as a cheaper alternative to Ethereum. The latter has become famous for the security and stability of the platform compared to peers like Bitcoin. Fantom, which uses the “aBFT Proof-of-Stake” consensus mechanism, is designed in a similar way, prioritizing security while aiming to maximize speeds of transactions. Fantom has quickly established itself among the 30 most popular coins in the world despite going live only in 2019. The coin has a supply of over 3 billion and more than 2.5 billion are already in circulation.
Hello there, I know you want to learn about cryptocurrencies, blockchain, and cryptocurrency mining, but you don’t have the time or money to take classes on all of these topics, which I understand is difficult.
But what if I told you that there is a free course that will teach you all of these things in 45 minutes and for free? Yes, it is correct. So, what exactly are you waiting for? Don’t miss out on your chance to learn, and get started right away.
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8. Polkadot
Polkadot is famous among Redditors because the network on which it operates allows users to create custom blockchain solutions. For example, investors on the Bitcoin and Ethereum blockchain often have to use native coins. On the Polkadot platform, protocols exist for making new blockchains or connecting several existing ones for fast and scalable usage. Polkadot offers a “distributed computing” of blockchain, a unique proposition in the fintech world where the new technology is still evolving.
7. Ripple
Redditors have been interested in finding high-quality investments in the cryptocurrency market given the volatility associated with the market in 2021. Ripple is often touted as one of the “safest” bets in the cryptoverse. This is because Ripple is the coin used on RippleNet, a cross-border money exchange platform designed by Ripple developers to act as an alternative to SWIFT payments. Since the RippleNet platform charges minor fees for transactions, market experts like Balaji Srinivasan have backed cryptocurrencies like Ripple to take over the SWIFT market in the coming years.
6. Polygon
Polygon is a coin used by the Polygon network that acts as a framework for building Ethereum-based blockchain networks. The coin has surged by over 30% in the past few weeks despite a broader lull around crypto. It is now among the 15 largest coins in the world by market capitalization. To put this into perspective, there are over 5,000 crypto coins presently trading globally. In addition to building new networks, Polygon is also used to improve the transaction speeds and lower cost of transactions on the Ethereum network.
5. Harmony
Harmony has been one of the biggest gainers in the crypto universe over the past year. The price of one coin has increased more than 5,200% in the past twelve months. As of January 17, one coin is trading at around $0.34. The market cap of the coin is now over $4 billion. In the past fifteen days, the value of the coin has almost doubled. The Harmony network is powered by sharding, allowing the coin to market itself as a “secure and fast” blockchain solution. Harmony uses a Proof-of-Stake mechanism to validate transactions.
4. Solana
Solana is another potential Ethereum rival. The Solana blockchain is faster and cheaper than Ethereum. The Solana network uses a combination of Proof-of-Stake and Proof-of-History mechanism to achieve consensus, a method that the developers of the coin claim improves the overall “efficiency” of the network. The coin is often described by market experts as a “long-term rival” to Ethereum. Redditors have also been piling into the coin based on the capabilities it offers in the DeFi and NFT domains.
3. Stellar
Stellar is a cryptocurrency released in 2014 and developed by Jed McCaleb and Joyce Kim. The coin is famously used to convert digital coins into fiat currencies and to move money across borders. At the beginning of 2021, the coin was trading at around $0.13. At the end of the year, the price of one Stellar coin had increased to $0.27, more than doubling in value. Presently, the coin has a market cap of around $6.4 billion.
2. Everest
Everest is an Ethereum-based coin that utilizes the blockchain tech offered by the platform to allow enterprises to program various fiat currency use cases. Some of the benefits of using the Everest network include device free verification, seamless value transfers, and energy efficiency. As of January 17, the coin is trading at around $0.37 and has a market cap of more than $43 million. The developers of the coin claim that Everest aims to “build value exchanges between people and organizations”.
1. Webcoin
Webcoin is the native cryptocurrency of the Webcoin platform. The currency is mainly used by those on the platform to exchange services based on interests. The coin is most famously used for digital marketing. The coin is based on the Ethereum network and as of January 17, is trading at around $0.00016. It has a market cap of over $164,000. The coin has earned lots of positive mentions on Reddit in the past few hours as users tout the usefulness of the coin in the “metaverse” of the future.
Hello there, I know you want to learn about cryptocurrencies, blockchain, and cryptocurrency mining, but you don’t have the time or money to take classes on all of these topics, which I understand is difficult.
But what if I told you that there is a free course that will teach you all of these things in 45 minutes and for free? Yes, it is correct. So, what exactly are you waiting for? Don’t miss out on your chance to learn, and get started right away.
Get started right now and take advantage of the free course by clicking here
