Home Business News Two of the hottest cryptos to get your hands on

Two of the hottest cryptos to get your hands on

by Thea Coates Finance Reporter
20th Jun 24 10:11 am

This year has been one of the best in crypto history, with several historical moments, such as Bitcoin halving and reaching a new all-time high.

If we are to go by analysts’ expectations and predictions, a major bull run could begin at any point this year. As such, there’s no better time to invest in highly promising cryptocurrencies than now.

  • The cryptocurrency industry is gearing up for its biggest bull run yet, and there’s no better time to buy the most promising coins than now.
  • Solana is by far the best-performing blockchain this year. Several digital payment giants have announced plans to integrate the chain within their platforms.
  • Ethereum is home to the industry’s largest collection of blockchain apps and services. Its innovative factor makes it a must-have this cycle.

Investors often shy away from crypto due to its volatility and unpredictability. However, the narrative has shifted as more use cases for blockchain tech arise. Just this year, the SEC approved a Bitcoin spot ETF, and there are rumours of more approvals for other crypto ETFs.

With the appeal for crypto growing daily, Joel Lim, financial analyst at Trading.biz, has identified two of the hottest cryptos to buy right now.

Solana

Solana is the fastest-growing blockchain with impressive features, such as fast transaction settlement times and low transaction costs. These features are the major driving force behind its recent partnerships with leading global payment platforms and financial service providers looking to incorporate crypto payments.

Over the last twelve months, companies like Stripe, Paypal, and Visa have announced that they will integrate Solana to power crypto transactions for their users. Furthermore, the blockchain is attracting some of the most promising projects across the crypto landscape, such as Grass, Helium, and Hivemapper.

Not only is Solana leading the settlement platform race, but it is also home to the projects shaping the most bullish application of blockchain technology, such as DePIn, real-world assets, and tokenization.

Joel Lim notes, “Solana has made an impressive comeback following the FTX saga and the events of the bear market. It is currently the surest bet in all of crypto.”

Ethereum

In terms of market capitalization, Ethereum is second only to Bitcoin, the world’s first-ever cryptocurrency. It has contributed immensely to the growth, development, and adoption of crypto and blockchain technology, introducing concepts like smart contracts, decentralized finance (DeFi), Non-fungible tokens (NFTs), and decentralized applications (dApps).

There is an ongoing theory that most, if not all, of the recent innovations within the blockchain industry began from Ethereum. It is home to the largest collection of dApps and has made great strides in remedying some of its pitfalls, such as high transaction fees and low speeds.

This year, the Ethereum Dencun upgrade was complete, vastly improving the platform’s performance across key metrics like speed and throughput. Before that, it completed “The Merge, shifting from the energy-exhaustive proof of work consensus mechanism to the more eco-friendly proof of stake.

Joel Lim notes, “Ethereum’s status as an innovative layer in the blockchain industry makes it an ideal crypto investment ahead of the expected bull run.”

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