SOL - 2 Top Crytos to Buy Right Now
Amid inflationary concerns, investors are running away from risky assets. As a result, the crypto market has plummeted by around 40% since January 2022, wiping off approximately $1 trillion of market capitalization since the beginning of the year. However, depending on how market conditions improve (or not), investors may view this period as a buying opportunity.
Indeed, while the crypto sector represents some of the highest-risk assets on the market, blockchain technology provides for increased transparency and efficiency with payment systems. As the economy looks to recover, cryptocurrencies could be viewed as an asset class portfolio managers want exposure to.
With that in mind, here’s why Polygon (CRYPTO:MATIC) and Solana (CRYPTO:SOL) are two top cryptos I think investors may want to consider right now.
Top cryptos to buy: Polygon
Originally called the Matic network, Polygon was built to improve the scaling of Ethereum . It is a project based in India, focusing on making transactions quicker and cheaper on the Ethereum blockchain.
One of the primary reasons why MATIC is a good investment is due to the popularity of non-fungible tokens (NFTs). Throughout the previous year, NFTs have ballooned in a range of sectors, including the gaming and fashion industry.
However, to bring the NFTs into existence, it is necessary to mint them on the blockchain. This is where Polygon provides value. Developers can mint NFTs much more easily and cost effectively. For users, this is a great think. Overall, Polygon’s growth in terms of NFT market share has been a net win for NFT aficionados.
Polygon is one of the top 20 cryptocurrencies globally, with a market cap of around $6.95 billion. Those looking for a top crypto to buy right now may want to take a hard look at the value Polygon provides in this market.
Solana
Solana was one of the top performers in 2021, becoming the fourth most valuable crypto globally. One of the biggest selling points of this coin is its transaction speed. Solana features a transaction speed of 65,000 transactions per second (TPS), backed by cheap gas fees and innovative technology.
Now, the Solana blockchain has had its hiccups of late. A number of outages have hurt the investment thesis for this token. That said, the speed and cost advantage Solana provides relative to competing networks such as Ethereum has drawn significant interest to this network.
Over time, I think the network effects Solana has been able to provide will growth. Those bullish on growth among smart contract-oriented decentralized applications will like how Solana is positioned. Indeed, as a long-term holding, Solana is a top crypto I think is worthy of consideration right now. Particularly at these lower prices.
Both Polygon and Solana provide significant risk. Accordingly, investors will want to incorporate appropriate position sizing to manage risk. That said, for those looking to add risk, these are two projects I think are worth considering right now.
The post 2 Top Crytos to Buy Right Now appeared first on The Motley Fool Canada .
Fool contributor Chris MacDonald has positions in Ethereum and Solana. The Motley Fool has positions in and recommends Ethereum and Solana.
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