Wednesday, November 30, 2022

Large cap cryptocurrencies to watch in H2 of 2022

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Avalanche and Solana’s core metrics give them a clear path for growth.

Key Points:

  • Avalanche subnets make the network attractive for use cases in Web 3.0. 

  • Avalanche’s double-digit price jump last week point to its high potential if bulls retake the market this year.

  • Solana network remains stable, a factor that could be a confidence booster now that the market is trading at record lows. 

As the market bounces from seemingly the worst cryptocurrency meltdown in years, it is time to start looking for cryptocurrencies that hold the most potential in the future. That said, the market is not entirely out of the woods yet. As such, it would be best to focus on the big cap low-risk cryptocurrencies for now. Among those that hold the most potential for gains are Avalanche and Solana. Here’s why. 

Avalanche – A scalable and reliable layer-1

Avalanche (AVAX) is proving to be one of the more successful layer-1 blockchains in the market today. It can comfortably handle over 4500 transactions per second and is always stable. Over the last year, these traits have seen the number of Dapps opting to run on Avalanche increase significantly.

At the same time, Avalanche is working on upgrades that could see it scale even better going into the future. One such upgrade is the subnets, which allows users to customize how they can use the blockchain to suit their purposes. 

For instance, with the Avalanche subnets, it is possible to create a network limited to a specific geographical area or features such as KYC. These features could open up a whole load of use cases for Avalanche, especially in the finance world. 

It is not surprising that Avalanche emerged as one of the top performers in last week’s mini-rally. It’s an indicator that if the market makes a full bullish recovery, AVAX could emerge as one of the year’s biggest winners.

Solana – Beyond the 2021 issues

Like Avalanche, Solana (SOL) rallied quite strongly in last week’s mini-rally, indicating that it is on the investor’s radar. Solana’s potential to rebound in 2022 is not just a matter of speculative buying. There are a lot of fundamentals behind it.

In the platform blockchains space, scalability is critical, and Solana is a winner on this front. The Solana network can handle up to 50k transactions per second at a negligible cost of just $0.01 or lower. 

This has seen Solana’s uptake rise sharply, especially for minting NFTs. Solana DeFi projects are on the rise, too. This growing demand will play a significant role in the value of SOL tokens going into the future.

Most importantly, the Solana network seems to have overcome the issues it was dealing with last year, mainly related to network outages. This is a big deal as the network outages were a big contributor to Solana’s price drop, over and above the broader market correction.

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