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Investor interest is increasing at a quick rate despite the fact that there are already more than 19,000 distinct coins and tokens available for purchase.
But selecting the optimal combination of assets to optimize your long-term gains may be challenging even under the most favorable conditions; attempting to do so during a bear market for cryptocurrencies, sometimes known as a crypto winter, can be extremely stressful.
If you are interested in learning which cryptocurrencies are the best ones to hold on to for a very long time, stick around till the end of this article as we unfold them.
5 Cryptos Worth Holding for the Long Run
1. Chainlink (LINK)
When considering a cryptocurrency investment for the long term, Chainlink is currently ranked as the fifth-best option. Through its nodes and oracles, the Ethereum-based network, which began operations in 2014, transmits data in real time from smart contracts that are stored off-chain to those that are stored on-chain.
According to Securities.io, the company’s objective is to build the very first blockchain oracle network in the world. Oracles are the people who developed some of the most significant blockchain technologies and are essential to the progression of blockchain.
According to Benzinga’s article, the Chainlink 2.0 update would establish off-chain networks on top of oracles to alleviate the computational load placed on the Ethereum mainnet.
This upgrade was discussed in a whitepaper published in 2021. According to the whitepaper, the upgrade will also include the implementation of staking, which will boost network security by giving nodes with powerful economic incentives to operate in a dependable and accurate manner.
The LINK token used by Chainlink makes it easier for users to conduct transactions on the network. It is now ranked inside the top 25 cryptocurrencies based on its market cap of $3.271 billion that it currently possesses.
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2. Bitcoin (BTC)
According to the total market capitalization of all cryptocurrencies, Bitcoin is the most valuable crypto investment amongst other. You can use it to buy things both in a store and from online websites, but if you’re like someone who understands the underlying value and can see the bigger picture, you’ll probably think of buying and holding it to reap the benefits later.
You should include it in your long-term cryptocurrency portfolio because it has evolved into more of a secure investment than a currency in recent years. The announcement made by Tesla CEO Elon Musk in 2017 that the business had bought $1.5 billion worth of Bitcoin and would later reveal that it would accept bitcoin as payment for its vehicles was a boon for the cryptocurrency.
Despite the fact that Musk reversed his decision shortly after, citing worries about the environment, a large number of other businesses, including as Microsoft, PayPal, The Home Depot, and Rakuten, accept Bitcoin as a form of payment, albeit in some cases in an indirect manner.
Various other companies are beginning to invest in bitcoin as part of their portfolios. Additionally, Goldman Sachs issued its very first cash loan backed by Bitcoin in the month of April. When viewed on a day-to-day basis, the price of Bitcoin is a highly volatile asset, as proven by its recent decline to a level around $18,000, down from a one-year high of over $68,000.
In spite of this, it has been the asset class with the greatest return on investment over the past decade. A recent enhancement to the network’s functionality will make the platform more usable, which may cause the coin’s value to increase.
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3. Ethereum (ETH)
The total market capitalization of all cryptocurrencies places Ethereum in the number two spot. The native cryptocurrency of the Ethereum blockchain platform bears the same name as the Ethereum blockchain platform itself.
While the token may be used to store till the price appreciates, which is one of Bitcoin’s strengths, Ethereum has also established itself as one of best platforms for decentralized applications (dApps).
As a matter of fact, owing to the support for apps such as smart contracts, which are designed to automatically carry out a function when particular set of criteria have been satisfied, it has emerged as a platform that is rapidly becoming popular among developers.
A new version of Ethereum is currently being developed. According to the official website for Ethereum, the effect of this change, which was once known as Eth2 but is now known internally as The Merge, will be an increase in the scalability, security, and sustainability of the network.
Others predict that the price of ETH might more than double by the end of the year, despite the fact that some analysts are sceptical that The Merge would have a positive impact on ETH. Goldman Sachs has taken note of the significant interest that investors have shown in ETH. It intends to enable trading in ether options in the same way as it permits trading in bitcoin options.
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4. Polkadot (DOT)
Since its introduction in 2020, Polkadot has amassed a market worth of more than $7.67 billion, making it one of the most attractive investments in the cryptocurrency market for the long term.
Not only is it a cryptocurrency, but it’s also a network based on blockchain technology where developers can construct new decentralized applications. Polkadot is designed to unite several separate blockchains into a single unified network and even to establish new chains from scratch.
The integration enables users to use the network’s proof-of-stake certification of security and transactions, and it also makes it simpler to transfer digital assets such as applications and tokens between other blockchains.
A recent version makes it easier for Polkadot parachains to communicate with one another and transfer assets, which opens the door for new applications of the network. Polkadot is going to have to compete with Ethereum and Cardano, but the fact that it was one of the first cryptocurrencies to support smart contracts gives it an advantage that analysts believe it will be able to keep.
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5. Cardano (ADA)
Another cryptocurrency that has excellent potential for long-term investment is Cardano. Despite the fact that the coin’s performance in bear markets has been a disaster — the platform’s founder Charles Hoskinson recently tweeted about the possibility that Cardano could treat cancer — there will still be a decline because the platform has one significant advantage over Ethereum’s proof-of-stake protocol.
Cardano’s proof-of-stake protocol provides a similar function, but it’s faster, cheaper, and more energy-efficient than Ethereum’s proof-of-work protocol, which is currently used for validating transactions and safeguarding the integrity of the network.
Ethereum, on the other hand, uses an older version of this protocol. Cardano’s popularity among developers of decentralized applications may keep demand high for its ADA token, despite the fact that Ethereum’s upgrade may level the playing field and flood the market with proof-of-stake assets.
According to CoinMarketCap, in the first twenty-four hours after Cardano’s recent hard fork, which is a modification to the protocol of the cryptocurrency, more than one hundred smart contracts were put on the network. Since then, the network has undergone exponential development.
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