Alex Reinhardt | Which cryptocurrency is Going Up?
If you’re interested in investing in cryptocurrencies, you may question which has the largest potential return. According to Alex Reinhardt, bitcoin may seem clear, but there may be better alternatives in the years following 2022. A smaller coin whose value has not been artificially inflated by institutional investors, like Bitcoin’s has, may offer greater opportunities for a significant payment.
Cryptocurrencies that Could still Reach High
1. Ethereum (ETH)
The second-largest cryptocurrency in the world, after bitcoin, is ether, also known as Ethereum. At times, ether even outperforms bitcoin. It stands at 122.68 million coins. Despite being less popular with businesses and governments, in Alex Reinhardt’s opinion, Ethereum is less rare than bitcoin (the total supply is capped at 21 million coins). It also provides support for a foundation upon which apps can be created. Other cryptocurrencies are issued on Ethereum, and decentralized finance is constructed on top of it.
In line with other major cryptocurrencies, Ethereum is currently in a severe downturn, having lost over 61% of its value since the start of the year. Some analysts say that the low price gives investors waiting for the right time to try out cryptocurrencies a good chance to buy. The coin may also appeal to current investors who made high-priced purchases and would gain from dollar-cost averaging.
2. Binance Coin (BNB)
When it comes to trading volume, the largest cryptocurrency exchange is Binance. As stated by Alex Reinhardt, like bitcoin, Binance coin has maintained a hard cap on the total number of tokens in circulation, which in this case is 161,337,261 out of a possible 200,000,000 tokens. In 2021, this contributed to the token price rising rapidly. Binance also “burns” BNB tokens with a fifth of its quarterly profits, which raises the value of the tokens that are left over.
The available supply of BNB tokens will eventually be reduced by half, with over 38.5 million already burned. On the negative side, Binance’s launch of the Binance Coin is being investigated by the Securities and Exchange Commission to determine whether it was improper.
3. Tether (USDT)
Tether is an example of a “stablecoin” that uses a tie to a different asset to make it less volatile than bitcoin. This asset is the dollar in the case of rope. Tether is less volatile than Bitcoin and ether because it typically has a 1-to-1 valuation ratio with the dollar. The key word here is “usually.”
Tether’s price in May briefly fell to $0.9455, its lowest level since 2018, before rising above 99 cents, which has become standard. Tether is the third-largest and the largest stablecoin, with a market cap of $68.22 billion. It’s also the most widely traded stablecoin, and cryptocurrency traders use it to store money or conduct transactions with money they want to safeguard from price fluctuations to which bitcoin and other non-stable cryptocurrencies are susceptible.
4. Decentraland (MANA)
MANA is the second-largest gaming cryptocurrency when it comes to market capitalization. As stated by Alex Reinhardt, even though Decentraland faces competition from coins like The Sandbox and ApeCoin, it has some advantages that might help the MANA token advance. For instance, users are still the owners of the digital assets they produce in Decentraland and can exchange them for cryptocurrencies other than MANA.
Alex Reinhardt has provided a list of top cryptocurrencies to consider based on their increasing popularity and profitability. Several variables may affect these research results, but they are universally acknowledged as the top cryptocurrencies that are rising and gaining more exposure.