In a video update published on 3 June 2023, popular crypto market commentary show “Altcoin Daily” said these are the best six crypto tokens to buy “for an easy 10x”: and $AVAX, $SOL, $FTM, $ADA, $ETH, $CAKE.
Here is what Altcoin Daily had to say about each of these tokens:
- Avalanche (AVAX): Avalanche has been making significant strides despite the bearish market, hitting 1 million monthly active users for the first time. This growth is largely attributed to the recent launch of Ava Cloud, a no-code platform that allows for the launching of custom blockchains and tokens, also known as subnets, on top of the Avalanche network. This innovation has made blockchain creation more accessible and less costly, which has attracted a large number of developers and users to the platform.
- Solana (SOL): Solana has experienced a remarkable 2x surge in unique users within the past month, with a significant portion comprising new users. The team behind Solana aims to make it the “Apple of crypto,” focusing on user experience and performance. They are striving to make the network feel like the regular internet, even though it’s an entirely new financial internet. This focus on user experience and performance is expected to attract more users and developers to the platform.
- Phantom (FTM): Phantom is making significant moves in the crypto industry. They are about to start paying developers if they can generate gas fees, a model inspired by the web 2 ad revenue model. This initiative is expected to provide developers with an alternative source of revenue, leading to a sustainable economy for Phantom. This innovative approach to monetizing blockchain development could attract more developers to the platform, leading to more robust and diverse applications.
- Cardano (ADA): Cardano has now entered the top 15 protocols in terms of total value locked (TVL), surpassing Bitcoin. This growth has been organic, even in a bear market. Cardano’s ecosystem is robust and continues to grow, which is a testament to the strength and potential of the platform. The steady growth and strong ecosystem make Cardano a promising investment.
- Ethereum (ETH): Ethereum is considered the “Blue Chip of Blue Chips,” generating the most revenue in crypto. Ethereum has generated nearly 2 billion in fees over the last year, indicating people’s interest in this decentralized blockchain. The upcoming ERC 6551 upgrade is expected to revolutionize NFTs on Ethereum by allowing every NFT to be its own wallet. This upgrade could lead to more innovative and diverse uses for NFTs on the Ethereum platform.
- Pancake Swap (CAKE): Pancake Swap, a decentralized exchange in the BNB ecosystem, is moving into gaming. They have partnered with BNB game 5 protocol Mo box to create a blockchain tower defense game, Pancake Protectors. Players can use the DEX’s native CAKE token to earn in-game awards. This move into gaming could attract a new user base to Pancake Swap and increase the utility and value of the CAKE token.
As always, it is worth keeping in mind that investing in cryptocurrencies involves a huge amount of risk, and it’s essential to do your own research and analysis and consider your risk tolerance before making any investment decisions.
Featured Image Credit: Photo / illustration by “Hans” via Pixabay
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