So, let’s take a look at what coins to pick, so you can set up a solid crypto portfolio.
1) Bitcoin (BTC)
is the OG of all cryptocurrencies. It’s a serious contender for each and every portfolio. But, Bitcoin is not going to make you rich overnight with a x100. However, it’s a solid coin that has the potential of doing an x4 or x5 in the next bull run. For example, on Thursday, June 15, it became public that BlackRock registered a Bitcoin ETF. This will allow many companies to buy a fully regulated financial tool representing bitcoin.
Source: Twitter
The current price of BTC at $25,540 is a good entry point. That’s still 15% up from a year ago. It has a market cap of $495 billion. Out of the 21 million max supply, 19.4 million already circulate.
Even if the price drops, there’s no reason to panic. Don’t sell your coins at a loss. Bitcoin has proven time after time that it will bounce back. However, these bounces may take time. The next bull run may happen around the next Bitcoin halving. This is due in April 2024. The picture below shows a graph of the Bitcoin halving.
Source: Binance
2) Cardano (ADA)
Cardano is the brainchild of Charles Hoskinson. He was part of the original Ethereum team. This is a Proof-of-Stake chain. Its development started back in 2015. What makes it unique is that it’s the first chain founded on peer-to-peer review.
Source: Twitter
It has a great variety of use cases. For example, healthcare, government, agriculture, or finance. However, it wasn’t until earlier in 2023 that Cardano introduced smart contracts. They are slow but also solid and steady builders. This caused on a regular basis critique of Hoskinson and the chain.
Nonetheless, they rank #8 according to market cap. The current ADA price is $0.2620. That’s 49% down over the last year. It has a market cap of $9.18 billion. Out of the 45 billion max and the total supply of ADA tokens, 35 billion circulate. ADA is a great addition to any portfolio.
Source: Twitter
3) Polygon (MATIC)
seems to be the jack of all trades this year. They kept making strong partnerships throughout this year. There almost wasn’t a week when Polygon was not in the spotlights. As a result, Polygon received a lot of coverage on our YouTube channel
Source: Twitter
It’s a layer 2 solution built on top of Ethereum. In contrast to Ethereum, it offers fast and low-cost transactions. For this, it uses, among others, zk or zero-knowledge technology. Furthermore, on June 19th, they launch their 2.0 version. It already has an extensive ecosystem, that includes, for instance,
- Bridges
- Oracles and much more.
MATIC price is currently $0.5893. Ranked at the market cap, it takes the 13th spot. The market cap is $5.47 billion. Out of the 10 billion max tokens, 9.2 billion already circulate. Over the last year, it’s 40.8% up. Another good addition to any portfolio. The following video is our most recent deep dive into Polygon.
4) Polkadot (DOT)
Another great addition to any portfolio is (DOT). It also has an Ethereum background with Gavin Wood. He’s the founder of Polkadot and a co-founder of Ethereum. The whitepaper saw the day of light back in 2017. However, their mainnet didn’t launch until 2020.
Source: Twitter
Polkadot has a relay chain. To clarify, this chain takes care of security, consensus, and interoperability. Furthermore, there are the parachains. These are independent blockchains, connected to the relay chain. So, you can rent parachains for up to 96 weeks after you win a bid on them. There’s also an option to renew the parachain lease.
Source: Twitter
The current DOT price is $4.38. By market cap, it ranks #14. It has a market cap of $5.4 billion. There’s an unlimited max supply of DOT tokens. However, the total supply is 1.4 billion DOT. Out of these, already 1.2 billion DOT circulate.
5) Avalanche (AVAX)
Avalanche (AVAX) is the last addition to our top 5 coins for your portfolio. It also tackles the shortcomings of Ethereum. Avalanche offers scalability and fast transactions at a low cost. It can process up to 4,500 TPS or transactions per second. That’s in comparison with the 7-15 TPS that Ethereum currently offers.
Source: Twitter
Avalanche is also a Proof-of-Stake blockchain. Today’s portfolio only has Bitcoin which doesn’t have a variation on PoS. As a competitor to Ethereum, Avalanche has some stiff competition. There are plenty of so-called Ethereum killers out there.
Source: Twitter
Still, measured by market cap, AVAX ranks #19. The current AVAX price is $11.43 with a market cap of $3.9 billion. It has a max supply of 720 million AVAX. The total supply is 431 million tokens. 344 million tokens already circulate.
We looked at the top 5 coins to add to your portfolio. We covered Bitcoin (BTC), Cardano (ADA), Polygon (MATIC), Polkadot (DOT), and Avalanche (AVAX).
