Cryptocurrencies have provided a tumultuous ride for traders and investors. Since their introduction to global markets, incredible highs and crushing lows have ebbed and flowed continuously, and it’s extremely challenging to predict which way tokens will swing on any given day.
When you’re aiming to trade cryptocurrency, the oldest tokens are often the most stable in terms of growth rate, and you’re better off choosing a well-established token over a new but highly volatile one. With that in mind, here are five resilient tokens worth keeping an eye on, all of which have demonstrated promising growth in recent months.
According to several news sources, Bitcoin is in a consolidation phase at present, and many analysts are predicting a rally in the near future. Current investors are awaiting the next catalyst that will drive growth, but there’s no indication as to the source just yet.
The cost of transacting is a little higher than other crypto options, but it all depends on the volume of transactions during your chosen trade windows. If transaction volume remains high for the foreseeable future, it may be more cost-effective to invest in an alternative.
Despite an increase in mining difficulty, Bitcoin’s price could reach values of over $1,000,000 by 2023, provided market forces continue to work in the token’s favor. Interestingly, Bitcoin is now less volatile than stock indexes, making it the ideal time to speculate with your disposable income.
2. Ethereum Classic
Ethereum Classic is now one of the top contenders for major trend reversal, thanks to a significant network upgrade and multiple merged systems. The new network uses validators instead of miners, and the results have been more than promising thus far.
Compared to other, more traditional cryptocurrencies, there’s far more functionality on offer, from contracts to crowdsourcing, and the average block time per transaction is much faster as well. For example, Bitcoin requires 10 minutes compared to Ethereum’s 12 seconds.
This token is the second-largest crypto asset by market cap, which makes it a key player in digital currency markets. In other words, it’s not going anywhere any time soon, and the recent lows won’t last forever. The only question is how long it will take for the price to rally, with some experts claiming that the reversal has already begun.
Tether is a stablecoin, meaning its value is linked to the price of the US dollar. It was one of the first tokens to be set up this way and remains one of the most stable cryptocurrencies of today. It’s the third-largest crypto in the world, with a market cap of over $65 billion.
One of the major benefits of Tether is that you can easily convert any other crypto to US dollars, saving you from a lot of the hassles associated with digital and fiat currency conversion.
Because their price is tied directly to a fiat currency, these tokens minimize the volatility of digital currencies, making them the preferred choice for risk-averse crypto traders. Tether is one of the fastest-growing cryptos for 2022. High demand has led to higher interest rates, and the token has risen in value by a full percent since last year.
Cardano has been around since 2017, chasing the highs of more popular cryptos. However, recent market trends and a desire for secure blockchain technology have brought it to the attention of discerning investors, with many already swearing for its high-tech security.
Due to its scientific approach to blockchain design, Cardano is one of the few crypto tokens with the evidence to back up its claims. In fact, the team behind this token is responsible for over 120 papers on blockchain technology.
Cardano’s creators believe that their technology can benefit multiple aspects of society, such as production chain interoperability and legal contract tracing, for instance. It aims to become a global financial operating system, and after numerous downturns in recent years, analysts believe it’s in the prime position to gain a major share of the crypto market in 2023.
Like Cardano, XEM was launched a few years after Bitcoin and Etherium. The platform it’s native to, known as NEM, is a smart contract platform that aims to provide high-performance enterprise solutions in a fast-growing and competitive sector.
XEM is garnering increased attention due to its innovative platform and the potential for scalability. It’s backed by three of the biggest crypto exchanges in Japan, although its market cap is relatively small compared to the other tokens we’ve mentioned.
That being said, XEM’s price is on the rise, and it could soon gain the traction it needs to accelerate the current growth trajectory. It helps that the platform it’s on has additional features in terms of blockchain infrastructure, but it remains to be seen whether or not NEM can compete with established exchanges and popular platforms.
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