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Top Cryptos To Buy For May. - Investment - Nairaland

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Top Cryptos To Buy For May. by Vykhi: 2:02pm On May 08, 2022
ETHER (ETH)

The native cryptocurrency of the Ethereum blockchain is called Ether, or ETH. After hitting an all-time high of $4,891.70 in November 2020, the second-most-dominant cryptocurrency in the world has come back to earth, bouncing around the $3,000 level. The most actively used blockchain in the world, Ethereum pioneered the idea of decentralized finance, or DeFi – a disruptive new system of finance that cuts out traditional intermediaries and middlemen like banks, brokers and centralized exchanges. Although a number of upstart rivals are gunning after Ethereum's leadership position, Ether is one of the best cryptocurrencies to buy now not only because of the wide adoption of its network, but also because of the upcoming event known as "The Merge." Once known as Ethereum 2.0, The Merge is expected to launch in the second half of 2022 and will bring the current Mainnet Chain together with the Beacon Chain, changing the network from the expensive, slow and energy-intensive proof-of-work protocol to the far more efficient proof-of-stake system. This should help re-accelerate the Ethereum ecosystem and buoy Ether.

Solana (SOL)

Among the world's top cryptocurrencies to buy, it's essentially Bitcoin, Ether and then everything else. Among the so-called altcoins – everything outside of BTC – is where the big opportunity lurks, and Ethereum competitor Solana is a promising up-and-comer that's managed to muscle into the world of DeFi and claim meaningful market share. Many currencies are built on top of the dominant Ethereum network, but not Solana, which has its own blockchain that uses the native SOL token. While BTC debuted in 2009 and ETH in 2015, SOL is just a baby, having debuted in 2020. The following year, Solana took the world by storm, soaring from about $1.50 to more than $170 by the end of 2021. Things have cooled off dramatically since then, with SOL at less than $90 in early May. Still, Solana continues to steadily gobble up market share; SOL has grown from 1.9% of the market to 2.8% of the market so far in 2022, and its low transaction fees should continue to poach users from Ethereum until The Merge is complete.

Terra (LUNA)

Another one of the best cryptocurrencies to buy now is LUNA, the native token of the Terra blockchain protocol. Instead of being known for DeFi or as a form of digital gold, LUNA's value can be thought of in simple terms as a bet on the growing popularity of stablecoins. Stablecoins are cryptocurrencies whose price is pegged to a given fiat currency, and they're an increasingly important part of the DeFi ecosystem, with investors lending and borrowing stablecoins in large pools in order to earn yields or invest in other opportunities. The LUNA token's value is directly related to the adoption of Terra-based stablecoins like UST, which is pegged to the U.S. dollar. When there's more demand for UST, LUNA tokens are burned, increasing the value of each token, while more LUNA tokens are created when people sell out of UST. Although LUNA fell in April with the rest of the market, the coin is roughly sideways year to date, dramatically outperforming the more than 20% decline in the overall crypto market.

Binance Coin (BNB)

Excluding stablecoins, Binance Coin, or BNB, is the third-largest cryptocurrency by market cap. The market cap stands around $63 billion in early May. BNB offers investors a nice way to bet on the flourishing Binance ecosystem, which includes the world's largest cryptocurrency exchange. Binance is off to an early – and commanding – lead in the buying and selling of digital assets, with data from early May showing trailing 24-hour volume of more than $12 billion, compared with about $2 billion in trailing volume for the next-largest contender, Coinbase Global Inc. (ticker: COIN). A deflationary token, 99% of BNB's maximum supply is already in circulation, and Binance also burns a percentage of BNB-based transaction fees on its network.


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Re: Top Cryptos To Buy For May. by Realboygenius(m): 5:49am On May 23, 2022
Can I get some of this coin on Yellowcard.

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