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.Determining the most promising cryptocurrencies to invest in can be a challenging task, given the constant influx of new tokens onto both centralised and decentralised exchange platforms. We have listed other best altcoins to invest in right now in our previous articles.
The crypto planet revolves around Bitcoin, but there are altcoins that, when put under the microscope, will make for good investments or at least take a spot on your watchlist.
5 Best Altcoins To Invest In Right Now
The opportunities are endless with altcoins. The utility of Bitcoin is limited, whereas most other altcoins have different projects and platforms, which makes them appealing.
Furthermore, there is a chance to make high profits from the altcoins listed in this article. This list will prove important considering the price drop of Bitcoin reported today.
1. Litecoin (LTC)
Litecoin (LTC) is a cryptocurrency that was created with the aim of providing fast, secure, and cost-effective payments through the utilisation of blockchain technology.
While it was built based on the Bitcoin (BTC) protocol, Litecoin has several key differences, including the hashing algorithm employed, a different hard cap, shorter block transaction times, and other variations. Notably, Litecoin has a block time of just 2.5 minutes, which results in extremely low transaction fees. This outcome makes Litecoin particularly well-suited for microtransactions and point-of-sale payments.
Litecoin made its debut via an open-source client on GitHub on October 7, 2011. Just five days later, on October 13, 2011, the Litecoin Network was launched. Since its inception, Litecoin has gained significant traction and acceptance among merchants. It has consistently ranked among the top ten cryptocurrencies by market capitalisation.
Charlie Lee, a former Google employee, is the creator of Litecoin. His vision for Litecoin was to create a “lite version of Bitcoin,” incorporating many of the same features while being more lightweight in terms of its infrastructure.
2. Arbitrum (ARB)
Arbitrum is a layer-two (L2) scaling solution built for the Ethereum blockchain. It utilises optimistic rollups to address some of the critical challenges facing Ethereum, such as slow transaction speeds, scalability issues, and high transaction fees. By employing this technology, Arbitrum aims to enhance the speed, scalability, and cost-efficiency of the Ethereum network while maintaining its security and compatibility.
One of the primary advantages of Arbitrum is its ability to increase throughput and reduce transaction fees on Ethereum. It achieves this by offloading a significant portion of the computational and storage workload from the Ethereum mainnet to a secondary layer.
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— Arbitrum (💙,🧡) (@arbitrum) September 16, 2023
Arbitrum features its native governance token called ARB. This token plays a crucial role in the decentralised autonomous organisation (DAO) structure known as the Arbitrum DAO. ARB holders have the power to participate in the decision-making process by voting on proposals related to protocol upgrades, features, fund allocation, and even the selection of a Security Council.
3. Cronos (CRO)
Cronos (CRO) is the native cryptocurrency token of the Cronos Chain, an open-source, decentralised blockchain created by Crypto.com. This blockchain is part of Crypto.com’s broader mission to advance the global adoption of cryptocurrencies by providing individuals with greater control over their finances, enhanced data security, and identity protection.
The primary application of Cronos Chain is to support the Crypto.com Pay mobile payments app. This app allows users to make cryptocurrency-based payments, offering a convenient and secure alternative to traditional payment methods.
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— Cronos (@cronos_chain) September 22, 2023
In the future, Crypto.com intends to extend the utility of the Cronos platform to power its other products and services. Since its launch in late 2018, CRO has been an integral part of Crypto.com’s ecosystem, contributing to the company’s mission to make cryptocurrencies more accessible and user-friendly.
4. Terra Classic (LUNC)
Terra is a blockchain protocol designed to create price-stable global payment systems using fiat-pegged stablecoins. Its primary goal is to combine the stability and widespread acceptance of fiat currencies with the censorship resistance and efficiency of blockchain technology, offering fast and affordable cross-border settlements.
Development of Terra began in January 2018, with the mainnet officially launching in April 2019. As of September 2021, Terra has stablecoins pegged to various currencies, including the U.S. dollar, South Korean won, Mongolian tugrik, and the International Monetary Fund’s Special Drawing Rights basket of currencies. Terra has plans to introduce additional stablecoin options in the future.
In May 2022, Terra underwent a significant change, with a new chain launched under the name Terra (LUNA) and the original Terra Chain rebranded as Terra Classic. The native token, LUNA, was renamed LUNA Classic (LUNC), and stablecoins on the original chain were also renamed Terra Classic stablecoins (USTC, KRTC, EUTC). Notably, there are no Terra stablecoins on the new chain.
This restructuring is sometimes likened to the Ethereum and Ethereum Classic split in 2017, with the collapse of UST in the spring of 2022 being seen as an equivalent moment to Ethereum’s DAO hack in 2017. These changes reflect Terra’s commitment to evolving its platform to meet the needs of its users and address challenges in the cryptocurrency space.
5. yPredict (YPRED)
yPredict is currently gaining significant attention in the cryptocurrency market due to its ongoing presale, and it’s an endeavour that investors should closely monitor. The project has already achieved an impressive milestone by raising over $2 million since the commencement of its presale, and it is currently in its 6th stage. These fundraising statistics suggest that YPRED has the potential for substantial growth in the near future.
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— yPredict.ai (@yPredict_ai) September 8, 2023
According to information available on the presale website, there are currently 100 million YPRED tokens in circulation, and its market capitalisation at the time of listing is approximately $6.5 million. Additionally, the project has attracted more than 20,000 users on its waiting list, indicating a strong demand for YPRED in the market.
yPredict is championing the concept of predictive trading through the utilisation of artificial intelligence tools. These tools empower traders to anticipate market fluctuations, both on a minute-by-minute and weekly basis. Users have the opportunity to create and test trading models within simulated markets, enabling them to generate passive income potentially. Furthermore, yPredict has plans to introduce a marketplace where users can offer subscriptions, providing a more brilliant way to engage with the YPRED token.
Investors who are interested in yPredict should consider participating in the ongoing presale as a means of getting involved and exploring the prospects it offers for more informed and strategic trading within the cryptocurrency market. The project’s focus on predictive trading and its integration of artificial intelligence tools position it as a significant player in the crypto space.
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