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The Only 3 Cryptos You Need for a Decade of Digital Riches

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With an impending Bitcoin (BTC-USD) halving, there’s an outsized interest in cryptos again. While I’m not sure if the coming decade will be as blatantly positive as the past decade has been (aside from the so-called crypto winter we had last year), it’s clear that digital assets are a new class investors are paying attention to.

Other key catalysts are supporting positive price movement for key top tokens. Here are three of the top cryptos I think could lead the way for a decade of growth in the cryptocurrency space.

Ethereum (ETH-USD)

Etereum coin is in pocket. Ethereum is a decentralized, open-source blockchain with smart contract functionality. ETH crypto

Source: Thaninee Chuensomchit / Shutterstock.com

Since the Securities and Exchange Commission greenlit spot Bitcoin ETFs on Jan. 11, institutional interest surged in Bitcoin and related cryptocurrencies that could see a spot ETF. Currently, Ethereum (ETH-USD) is the leading token in this regard.

The world’s second-largest cryptocurrency, Ethereum, is the outright favorite for a spot ETF approval at some point. The network’s leading status as the go-to option for DeFi developers has driven an impressive flywheel effect that continues to drive tremendous value for the network.

Additionally, Ethereum’s upcoming Dencun upgrade and previous shift to proof-of-stake enhance its scalability and efficiency. For those banking on continuing upgrades and improvements, this is a cryptocurrency to keep on the radar for the next decade.

Recently surpassing $3,200 for the first time in roughly two years, Ethereum is on track to see some big moves in the coming months, quarters and years. It’s among my top long-term growth picks in the crypto space largely due to the incredible utility-driven network Ethereum has found a way to create.

Solana (SOL-USD)

Solana Coin (SOL-USD) in front of the Solana logo. Solana price predictions.

Source: Rcc_Btn / Shutterstock.com

There has been a lot of buzz around Ethereum ETFs, and one of the cryptos being dragged into the spotlight is Solana (SOL-USD). Investors anticipate Ethereum-like growth with ETF introductions, given Solana’s status as a top Ethereum contender in the layer-1 network space. Solana’s co-founder expresses confidence in its sustainability amidst scaling solutions. The market aligns with Solana’s potential as the token trades above the $100 level.

Solana’s token price surged 18% last month, sparking optimism among experts. Notably, analyst Chris Burniske predicts a potential $750 valuation for Solana—quite the jump from current levels. Factors like network strength and NFT popularity drive Solana’s growth, and these predictions, in turn. In January 2024, Solana outpaced Ethereum in NFT sales, hitting $365 million. Increased user engagement and Magic Eden’s role contribute to Solana’s success. Plans for a reward system and NFT advancements bolster SOL’s position and bullish price targets over the next few years.

Impressively, Solana’s NFT sales recently surpassed $5 billion. CryptoSlam reported 2.2 million buyers, 1.6 million sellers, and nearly 43 million transactions have occurred since Solana’s inception. Plenty of value will likely be accrued to the Solana token if this momentum continues.

Avalanche (AVAX-USD)

Avalanche (AVAX-USD) crypto coins on a black background

Source: Skorzewiak / Shutterstock

Avalanche (AVAX-USD) has dramatically changed the world of DeFi with its robust layer one blockchain. Trader Joe’s, among the top decentralized applications on the Avalanche network, continues to see massive activity, offering high JOE token rewards. AVAX has surged 148% in six months, showing resilience with inscriptions amid market shifts. Avalanche leads in inscriptions, with daily counts exceeding 222,000. Upgrades like consensus finality reduction and Vryx scaling elevate blockchain efficiency, cementing Avalanche’s industry leadership.

A week ago, Avalanche investors rejoiced as the token peaked at $43.27 with bank adoptions. Many experts sold before Feb. 22, 2024 (the token unlock), and most anticipate volatility. However, as Avalanche emerges as a top Ethereum rival, I think there’s a lot to like about Avalanche’s current market position.

Finally, JPMorgan’s use of an Avalanche subnet marks institutional adoption, boosting AVAX’s status as a top DeFi investment. Avalanche’s network usage surged, with over 300% appreciation since mid-October. Its market cap growth rate has surpassed that of Ethereum in the past, signaling significant growth. If such growth can be maintained moving forward, seeing how valuable this network ultimately becomes will be interesting.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Chris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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