Introduction
Hello everyone and welcome to another article on Vendata's journey of the crypto world! The crypto market has been very volatile over the past week for altcoins (as always!), striking up new potentials to invest. There are so many different options out there to invest in, each valid in their respect with reasons to back it up. You cannot go wrong with investing in crypto. No matter what cryptocurrency you invest in, it will eventually rise in price, no matter how long that takes. Why? My guess is supply and demand. There is always going to be a higher demand for cryptocurrency over time, never less, more businesses and people using it every day. In this article, I will be going through some promising cryptocurrencies that I consider investing in. However, please note that this is not financial or investment advice and I do not take any fault for any incidents that occur, particularly in regards to capital loss.
Binance Coin (BNB)
Being a Binance enthusiast, BNB is one of my favourites. Not only is it the native coin of the most powerful crypto exchanger in the world, but it has so many benefits when used Binance, alongside its projections. Benefits of BNB in Binance include discounted fees and participation in unique events, including Binance Launchpad. If you want to find out more about BNB, click here. The big indicator that Binance will experience a pump is its supply and demand.
At the time of this article, BNB has a 91% circulating supply, as shown above (provided by CoinMarketCap). This is huge compared to other cryptocurrencies. What this means is that 91% of the maximum supply of BNB is moving around the economy. A high circulation means a high price, which is evident with the current price of BNB compared to a few months ago.
Binance is only going to be used by more people - same deal with BNB, especially with the rise of BNB blockchains (e.g. PancakeSwap). This is where supply and demand come in. There is a limited supply that is nearing its maximum, but there is a higher demand for BNB, and thus BNB will boom in price according to this reason.
Ripple (XRP)
XRP has experienced an enormous movement over the past week. Although it moved so much, it does not seem to be dumping, staying quite stable in price. If you look at the history of XRP, you can see that there is a similar pattern that happened three-ish years ago. At that previous time, XRP was quite stable at a low price of about 0.20 USD, only then to boom up to over 3 USD in approximately a month. Compare this to the current trend, and you can see that the line is just at the beginning of this potential hockey stick. Thus there is a potential for a price boom.
Bitcoin Cash (BCH)
BCH is another great potential, steadily rising over the past week. BCH attempts to relieve the stress of BTC by creating a similar blockchain, tailored to e-Cash services, which has proved successful. Recently BCH has beaten Stellar (XLM) in market cap, moving from 13th to 12th on the leaderboard. BCH also has the same supply and demand scenario as BNB but to a smaller extent. BCH is beginning to be used more extensively across the crypto world, rising in popularity, and thus in demand. With an approach to a maximum supply with rising demand, BCH is going to be another potential for a price boom. However, since the maximum supply is further away than BNB, it will take longer for a price pump, most likely moving steadily at price with a general upward trend.
Also, if you look at BCH's history, you can find that it had an ATM (All-Time High) of about 3800 USD - another indicator for a potential boom.
Monero (XMR)
XMR has an excellent aim in creating a reliable private cryptocurrency for the crypto world, which it has successfully done. The price of XMR has continued to go up over the past week, and it seems to be continuing to go up. If you are looking for an altcoin to invest in with reliability, XMR could be the right one for you. XMR's ATM was about 500 USD three-ish years ago, so XMR can return to this price, perhaps even surpassing it - another indication for XMR.
Siacoin (SC)
SC is essentially Filecoin (FIL), but cheaper and arguably better. SC has been established far earlier than FIL, and so SC has had much more time in developing its service and blockchain. However, you have most likely heard of FIL booming in price over the past month, moving from about 40 USD at the start of the month to currently 170 USD. But with SC, it is sitting approximately 0.03 USD, far less than FIL. Although SC will not boom as high as FIL, it might boom quite highly from its current price. The ATM for SC was about 0.092 USD and with a rising trend over the past month, SC may return to its ATM or even surpass it. As a side note, if you are looking for good decentralised cloud storage to use, I find that SC is better than FIL for the reasons mentioned beforehand: it is cheaper and far more developed.
Conclusion
These are five of the many cryptocurrencies I found through the crypto market that seem promising in the future for investing. They have supporting trend and great aims behind them, and I verily find them all to be valid options for investing in crypto. Once again please note this is not financial or investment advice, I not taking any fault for any financial incident, especially with regards to capital loss.
Throwing my bait into the crypto market, I have found a vast ocean of cryptocurrencies to invest in, selecting five of them to develop my knowledge and skills in the crypto market.
