5 Best Cryptocurrencies to Invest In According to Reddit

2. Ethereum

Despite huge challenges, Redditors remain bullish on Ethereum. The currency rules crypto discussion boards on the social media platform with overwhelmingly positive sentiment. Reddit’s enthusiasm is shared by Mike McGlone, a Bloomberg’s analyst who is known for his crypto analysis. Recently, the analyst said that Ethereum price could touch $6,000 by 2025. While Ethereum failed to impress investors and rally after its much-awaited shift from Bitcoin’s proof-of-work to the more energy efficient proof-of-stake, some analysts believe the company could begin allowing withdrawals in 2023, which could give a boost to the currency. Redditors are actively sharing the reasons to hold on to Ethereum for long-term gains.

The Andreessen Horowitz report we mentioned in the intro talks about the true power of Ethereum. It says that while other cryptocurrencies rival Ethereum in usage, the cryptocurrency beats every other currency because the demand for block space is unmatched. The report also says that Ethereum continues to attract the most developers. However, it notes that several other cryptocurrencies and ecosystems are on the same path.