Investing in cryptocurrencies is a high-profit venture that provides a return of up to ten times the initial investment. Thousands of crypto assets are available to invest in, but this review provides information on the top crypto to buy this week.
1. Lucky Block
Lucky Block has taken the crypto space by storm, moving by over 300% in the first few days of launch. The crypto asset started out at the price of $0.00020 and currently trades at $0.004. Lucky Block is a lottery-centric cryptocurrency that provides gamblers with a digital medium to conveniently make their bids without walking into an outpost.
Due to the Lucky Block asset’s value proposition, it ranks as one of the top five cryptos to buy this week.
The digital asset has received commendable responses from top crypto investment blogs as it lists on top centralised exchanges in Europe, expanding its user base and application.
Lucky Block has moved to launch a 10,000 NFT collection, providing exclusivity to holders of the collectable. With the Lucky Block NFT, holders stand the chance to earn more on their investment when the value of the digital collectable reaches maximum value. Investors can get the NFT on the website by following the easy step-by-step guidelines available.
The Lucky Block token is expected to surpass the consolidated all-time high of $0.001 as investors scramble to own some of the limited NFT.
2. Ethereum (ETH)
Ethereum ranks as one of the top crypto to buy this week and it comes as no surprise that investors are still enthusiastic about the asset. Ethereum is an open-source decentralised blockchain with smart contract compatibility. The Ethereum blockchain sustains several decentralised finance opportunities as well as applications. The Ethereum technology is mostly focused on improving speed and scalability to enable more users and developers to have a better experience using the blockchain.
The Ethereum blockchain devised a solution to its high gas fees and speed-related problems by upgrading to a proof-of-stake (PoS) consensus mechanism. By upgrading to PoS, the blockchain is capable of reducing the time required to process transactions. Instead of using high energy from nodes to solve complex mathematical problems, blocks can be added through a random selection of nodes that stake a required amount of ETH.
The migration to PoS is already underway as the Ethereum team has finalised upgrades on the Beacon chain, an essential part of the ETH 2.0 migration. The Kiln testnet was launched to enable developers and users alike to try out the ETH 2.0 interface to give them a sneak peek into the upgrade. The Kiln testnet also served as an opportunity for developers to discover and fix probable issues affiliated with the ETH 2.0.
3. Cardano (ADA)
Cardano is the first-peer reviewed blockchain and proposes a carbon-negative rating while providing decentralisation, security and scalability through careful research of pioneer blockchains. ADA ranks as one of the top crypto to buy this week due to the Cardano team’s value proposition.
Project Catalyst, Cardano’s innovation engine, has been at work to provide the world’s largest decentralised innovation fund through a series of collaborative, competitive human efforts.
The latest fully-funded program, Fund8 is a global community of crypto enthusiasts and investors with the sole aim of proposing, evaluating and ultimately deciding which innovative proposals should be funded. Some of the proposals under consideration include decentralised finance (DeFi) applications, address financial inclusion inequalities or realFi. The community creates an ecosystem of products that remove the hindrances of real world economic activities and provides cheaper financial products for people.
Project Catalyst is Cardano’s initiative to find management and distribution to decentralised systems looking to grow their ecosystems. While receiving the funding they require, developers will be incentivised to build new solutions to new challenges.
4. Fantom (FTM)
Fantom is regarded as a fast and scalable next generation layer one platform that provides scalability and security for crypto transactions at subsidised rates.
FTM has been making aggressive price changes in the past few weeks, trading below its Moving Average Exponential (EMA) value of $1.3. The asset currently trades at $1.105, providing investors with a prime opportunity to buy FTM.
The FTM blockchain is on its way to massive decentralisation as the Fantom governance passes a proposal to allow a minimum validator self-stake to run a node in the ecosystem. Typically, a minimum of 500,000 FTM is required to run a node which is almost inaccessible to most investors. The high stake requirement is an inhibiting factor to Fantom’s decentralisation.
A reduction in the minimum self-stake will allow more nodes to emerge on the Fantom blockchain, providing strong support for decentralisation and security in the network.
To reach a full agreement on the self-stake minimum, the proposal must have 90% of votes cast in favor to proceed. With a lower minimum stake requirement to run a node, the Fantom network will experience a surge in investors and validators looking to receive incentives on their computing input.
A hike in the number of nodes and investors will result in a proportional increase in price.
5. Solana (SOL)
Solana ranks as one of the five top cryptos to buy this week as the blockchain provides solutions to some of the most crucial problems facing many blockchains. Solana is the fastest crypto networks, processing and finalising up to 50,000 transactions per second (TPS).
Solana has been on a downtrend in the last few weeks alongside the entire crypto market. The digital asset currently trades at $81.01 which is below the Moving Average Exponential (EMA) value of $82 and the 100-hourly Simple Moving Average (SMA) value of $128.
Solana continues to improve on its user interface and developers alike as it provides them with solana domain names to deposit and withdraw their assets from wallets. The Solana Name Service (SNS) enhances the efficiency of the ecosystem, providing users with the ability to withdraw from centralised exchanges.
Bonafida and FTX have provided a realistic application SNSs where users can withdraw from FTX with their .sol domain name. Unreadable wallet addresses will now be a problem of the past as .sol domain names diminish sources of confusion and barrier to entry when making transactions.
With Solana domains, users can conveniently send and receive crypto without running into mistakes that erupt from incorrect wallet addresses and restrictions.
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