Buy and hold (HODL) is one of the most popular crypto investment strategies. Blockchain and cryptocurrency writer Ponvang Bulus shared the 5 most trusted altcoin projects from this category. Let’s take a look at the analyst’s comments, keeping in mind that the estimates are not certain.
5 altcoin projects for the long-term portfolio
Ethereum (ETH)
Ethereum is a name everyone knows as it is the backbone of DApps and smart contracts. ETH is the second largest cryptocurrency by market capitalization after Bitcoin. The Ethereum network is preparing for September 19 for the transition to the long-awaited PoS network. With ETH 2.0 or a merge, Ethereum staking and Ethereum’s famously high hash fees will become more affordable. After the expected update, crypto investors and developers will show more interest in Ethereum, according to the analyst. The leading altcoin is currently trading below $1,700 with a slight correction.
Dogecoin (DOGE)
Meme coins represent the humorous side of the cryptocurrency market. As a meme coin, Dogecoin is the king of this market. But her memes aren’t the only reason she achieved this status. Instead, it’s becoming a cryptocurrency with real benefit from being just a meme. For a long time, Dogecoin was known for the support of people like Elon Musk to push the price up. However, Dogecoin developers have started to bring some real use cases to the network.
For example, a Dogecoin developer minted the first NFT on the network in December 2021. As NFTs are one of the biggest innovations in Blockchain technology, this opens the door to potential growth for the network and DOGE. Dogecoin is also used as a means of payment for AMC theaters and some Tesla products. Another reason why Dogecoin is on this list is that it remains among the top 10 cryptocurrencies despite sales in recent months.
BNB Coin (BNB)
Binance is the world’s number one cryptocurrency exchange. BNB Coin (BNB) is the cryptocurrency that the exchange uses millions of transactions every day. This use case makes BNB a force in the cryptocurrency market. But there is more…
Binance is constantly improving its ecosystem with new features, including an NFT marketplace. As the ecosystem evolves, its users will predominantly use BNB for fees and other payments, a situation that naturally increases the value of a cryptocurrency. BNB is also the native token on Binance Smart Chain (BSC).
BSC is one of the strongest Ethereum competitors due to faster transactions and lower fees. All of these contribute to raising the value of the token to where it stands. According to the analyst, it still plays an important role in increasing BNB in the future.
XRP
XRP is the native cryptocurrency for Ripple used to power cross-border transactions. XRP, currently the seventh-largest cryptocurrency by market cap, dropped to this level shortly after the lawsuit was filed against Ripple in 2021. As a result of the allegations, investors lost interest in XRP. However, it is recovering rapidly with the latest developments.
cryptocoin.com As you follow, Ripple has made huge strides despite the ongoing litigation process. First, the XRP token was accepted in Japan as payment for cars. In the latest development, it has partnered with Singaporean digital banking firm FOMO Pay for treasury payments.
Cardano (ADA)
Cardano is a popular altcoin project under the radar of many crypto users. It was also developed by Charles Hoskinson, co-founder of Ethereum. ADA offers a fast and cost-effective network for smart contracts, NFTs and more. Project like Binance and they have built new features including an NFT marketplace. Another important Cardano feature is the Cardano Launchpad, where new crypto projects are launched.
All these services are supported by the ADA. While the network’s native token, ADA, is still undervalued, it is poised for more with many use cases.
