We can say right now the crypto market has been volatile with bitcoin tumbling down from its previous all-time highs many new investors have shaken up with a fear and greed index the following suit and showing us the fear is real. In markets like this people tend to get greedy when prise which results in the fear of missing out and when the market turns red. Well, people often begin panic selling. If you wanna make money in crypto this is not how you want to approach your trades instead invest when others are fearful and be afraid when others are greedy now although right now it may seem like its the hardest time to invest with overall sentiment being down I believe it could be the most profitable for any new investors looking into entering the crypto market. Any dips that we have I just see it as an opportunity to get the same type of deals that many investors got earlier this year. So what cryptocurrencies should you consider looking into now and what is going to be the most profitable after reading this blog you will have a complete idea of the top cryptocurrencies to invest in right now.
1) Ethereum:
By now you should have a good idea of what Ethereum is if not I suggest looking into the internet for information. Ethereum is currently the number two cryptocurrency that allows smart contracts and decentralized applications to operate on its network and this cryptocurrency proves to be much more than your ordinary store of value that of bitcoin claims to be and allows users to create build and revolutionize the world through the use of the smart contracts. what's special about Ethereum is the seemingly unlimited use case it has that ranges from creating a social media network to filing storage sending payments and even building networks of digital arts that we know as NFTs the future of Ethereum is bright as it continues to make network updates to support the increasing demand in usage. I believe as the adoption of crypto continues Ethereum will always be an essential network needed to supply the power and resources for many of these decentralize application.
2) Polygon:
It is a multi-chain scaling solution for Ethereum and the goal is to provide faster and cheaper transaction on Ethereum using layer two side chains Ethereum scaling is always been a hot topic in the crypto niche in order to solve congestion and reduce gas fees due to the popularity of d5 products and application using Ethereum network. in order to make upgrades to cryptocurrency like Ethereum, you have to scale the base layer also known as a layer 1 upgrade or you build on top of the layer 1 blockchain using its existing elements which we call later 2 solutions. Polygon's well diverse approach allows them to create a long-term solution in the case that any one of the scaling solution fail.
3) Chainlink:
It is a decentralized oracle network that utilizes smart contracts to implement real-world solutions. I believe having the tie into the real-world application will prove to be a great investment over time since the utility of this can be used by many different markets in real life. In this instance, chain-link powered smart contacts can be programmed to distribute to workers in real-time reducing these few things accounting, overhead costs, mistakes made in the system by human error and it can also provide immediate payment rather than waiting 24 to 78 hours that most employers do since smart contracts reside within blockchains many believe that this will be the most superior form of digital agreements compared to third-party entities we often have to use.
