In this article, we discuss the 5 cryptocurrencies Redditors are buying for the next bull run. If you want to read our analysis of the cryptocurrency market, go directly to the 10 Cryptocurrencies Redditors are Buying for the Next Bull Run.
5. Avalanche USD (CCC:AVAX-USD)
Avalanche USD (CCC:AVAX-USD) is a cryptocurrency and blockchain platform acting as a direct competitor of Ethereum. It is considered the fastest smart contracts platform in the blockchain universe, making it attractive for decentralized financial applications. AVAX is the default currency on the platform.
Avalanche USD (CCC:AVAX-USD) is used to pay transaction processing fees on the Avalanche network. The transactions on the Avalanche blockchain settle immediately. Like some of its peers on our list, it is an open-source platform and is governed by a proof-of-stake mechanism. According to industry experts, the Avalanche blockchain can process 4,500 transactions per second. Avalanche USD (CCC:AVAX-USD) is the brainchild of Emin Gün Sirer, who is a renowned cryptocurrency professor at Cornell University.
4. Solana USD (CCC:SOL-USD)
Solana USD (CCC:SOL-USD) is a popular cryptocurrency among Redditors. It is the ninth biggest cryptocurrency in the world in terms of market capitalization as of July 24.
Although Solana USD (CCC:SOL-USD) coin is down more than 75% YTD, it is a layer 1 blockchain that allows different platforms to come up with smart contracts and other products through layer 2 protocols. It is a decentralized, open-source, and scalable project that is operated by the Geneva-based Solana Foundation and was constructed by Solana Labs in San Francisco. Compared to Ethereum, it is much faster in terms of its transaction processing abilities at a lower transaction processing cost. Solana USD (CCC:SOL-USD) blockchain platform claims to be the fastest amongst its peers, with an ability to support 65,000 transactions per second.
3. Cardano USD (CCC:ADA-USD)
Cardano USD (CCC:ADA-USD) is a decentralized blockchain and cryptocurrency platform that pioneered the proof-of-stake concept, which is a more efficient alternative to the proof-of-work concept.
Ada is the native coin on the Cardano network, which is given out to users for taking part in the stake pool. The Cardano network was developed by Charles Hoskinson in 2017. Mr. Hoskinson also happens to be a co-founder of Ethereum. The platform is compatible with smart contracts and considers itself a new version of Ethereum to bank the unbanked globally.
In terms of market capitalization, Cardano USD (CCC:ADA-USD) is the eighth biggest cryptocurrency on the globe and the 11th most active cryptocurrency in the last 24 hours as of July 24. Cardano USD (CCC:ADA-USD) is constantly undergoing improvements and currently, in the Basho developmental phase, is focusing on scalability and interoperability. Experts anticipate the price of Cardano USD (CCC:ADA-USD) to reach 63 cents by the end of 2022, $2.93 by 2025, and $6.53 by 2030. Prior to the crash in the crypto universe, the experts had anticipated Cardano USD (CCC:ADA-USD) to close the year at $2.79
2. Ethereum USD (CCC:ETH-USD)
Ethereum USD (CCC:ETH-USD) is the second biggest blockchain and cryptocurrency platform in the world in terms of market capitalization as of July 24.
Ethereum has been one of the earliest proponents of decentralized finance and brought smart contracts on its platform to support this endeavor. Ethereum is a critical path for NFTs and the metaverse through Ether, which is the native currency on the platform.
The team that came up with Ethereum built up on the achievements of Bitcoin by realizing that a decentralized public ledger can be used for purposes other than just making payments. The recent transition from Ethereum to Ethereum 2.0 following the change in algorithm from proof-of-work to proof-of-stake will be integral because it will speed up the processing of transactions and would also require less energy.
1. Bitcoin USD (CCC:BTC-USD)
Bitcoin USD (CCC:BTC-USD) is the biggest and most popular cryptocurrency in the world in terms of market capitalization. Bitcoin USD (CCC:BTC-USD) is the first cryptocurrency in the world that was developed using the alias Satoshi Nakamoto. The currency continues to still be popular among Redditors.
Bitcoin USD (CCC:BTC-USD) will be the biggest beneficiary in the next bull run due to its significant presence across the markets. According to the World Economic Forum (WEF), up to 10% of the global GDP can be stored on blockchains by 2025 as it provides an opportunity to enhance production, guarantee transparency and lower wasted time and paperwork. Blockchain technology has given rise to new business models for revenue creation and can make supply chains more efficient by eliminating processes that increase costs and lower efficiency.
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