Cryptocurrencies are growing rapidly as an investment option. Bitcoin moved closer to a record high of US$60,000 in August, reaching US$50,000.
Cryptocurrencies are developing and becoming a prominent investment method. During August, Bitcoin reached closer to a record high of US$60,000 by reaching US$50,000. While noticing the crypto trends and headlines the bullish run is giving many traders the confidence to purchase more cryptocurrencies. So, lets take a look at the best cryptocurrencies to invest in this weekend.
The first half of 2021 witnessed the crypto market crash and Bitcoin turning half of its record high to US$30,000. During August, the price rebounded and now Bitcoin is trading at a value of US$47,000. This price drop is a positive attribute for new crypto investors who are more than willing to purchase Bitcoins and gain some profits.
After Bitcoin, Ethereum is considered as the second largest cryptocurrency, its blockchain network transformed the DeFi sector and lay a path for decentralized apps. Ethereum launched its latest update that will help in the betterment of the transaction fees and deduct Ethere’s inflation. This change makes it easy for investors to decode the value of interesting in Ether and give miners a fair fee.
XRP happens to be one of the most-wanted and popular utility tokens in the market. It was developed by Ripple, XRPs blockchain platform focuses on creating cross-border currencies without any trouble. Ever since it was launched many banks have come to the realization the abilities of this token and the volume of transactions on this network has increased since then. One of the major 10 cryptocurrencies to purchase, XRP has a good future in the crypto market.
As a stable coin Tether is not like most of the cryptocurrencies in the market. A stable coin is known to be a digital token that has a fixed value and is considered as a fiat currency such as Euro or the Dollar. Also, Tether has a fixed value of US$1 or equivalent and maintains US$1 in reserve for each Tether given.
USD coin is a very well-known stable coin as its value is only attached to the US dollar. Stable coins can handle market volatility better and offer investment with lesser chance of risk. This is considered best for investors who want to make their first step in the market.