Altcoins: The ongoing bear market has resulted in uncertainty around the future of many crypto projects and has instilled caution in investors.
With portfolios going red, it’s understandable that investors want to tread sensibly in the current market scenario. Hence, we have compiled a list of altcoins, that look most stable and low risk, and could hold your portfolio together in the ongoing bear market.
Ethereum (ETH)
Ethereum is usually criticised for having high gas fees for conducting transactions. However, with its recent pivot to a Proof-of-Stake (PoS) consensus mechanism and scheduled ecosystem upgrades that will make the network more scalable, more secure, and more sustainable, Ethereum is here to stay.
It would be virtually impossible to think about the NFT and dApp ecosystem without Ethereum. With so much usability and significance, Ethereum will remain a force in the industry despite a bear market.
Current Price: $1,212.54
Market Cap: $148 Billion
BNB
Although BNB is a utility token and has been regularly criticised for being too “centralized,” it has captured a significant market share in the crypto industry.
One can not underestimate the rise of Binance’s ecosystem and the subsequent importance of BNB (to pay for goods and services, settle transaction fees on Binance Smart Chain, participate in exclusive token sales, etc.).
Current Price: $249.35
Market Cap: $39 Billion
Also Read: Why are CryptoPunks So Popular? Can You Create NFT Collections like CryptoPunks?
XRP
Ripple (along with two of its top executives) is embroiled in a court case with the SEC, with the latter alleging that they should have registered XRP as a security, while the company maintains that XRP is a currency.
Regardless of the legal battle, XRP is still prominent as the ecosystem seeks to replace the old, expensive, and cumbersome international payments system. It can aide traditional financial institutions in modernising their infrastructure to enable fast and cost-effective payment processing.
Current Price: $0.345
Market Cap: $17 Billion
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The post Interested In Altcoins? Here Are 3 That Could Boost Your Portfolio In Ongoing Bear Market appeared first on CoinGape.
