As investors navigate the world of digital currencies, they likely find themselves asking: What are the best cryptocurrencies for long-term investment? Fortunately, the crypto world’s surging popularity has brought forth a slew of digital coins and tokens with significant potential.
To pinpoint the best long-term cryptos, it becomes necessary to move past the glitzy news coverage and probe into the inherent worth that these tokens possess. How have they held up amidst a volatile market? What do they offer in terms of underlying technology and unique value? Investors who do their research to answer those questions will have the best luck — and profits — in the crypto space.
With this in mind, buckle up as we unveil the hidden gems of the crypto world.
Bitcoin (BTC-USD)
Bitcoin (BTC-USD) is a vital component of long-term cryptocurrency investment portfolios. With a compelling growth outlook, BTC has really solidified its crypto dominance.
Additionally, Bitcoin’s stability and resilience make it an outstanding cryptocurrency, arguably ideal for long-term investment. With a year-to-date return of 77% and a substantial market capitalization of $570 billion, Bitcoin’s robust consolidation indeed leaves a strong impression. In fact, Glassnode, the reputed on-chain analytics firm, says that long-term holders now account for 75% of Bitcoin’s supply. This indicates a trend of faith in the coin’s lasting power.
Moreover, this stability, bolstered by its finite supply and a large, consistent transaction count, ensures Bitcoin stands out among major cryptocurrencies. As you contemplate diversifying your portfolio, remember the enduring resilience and broad acceptance of Bitcoin. These factors place it among the elite, stable cryptocurrencies worthy of consideration.
XRP (XRP-USD)
In the volatile world of cryptocurrencies, identifying stable, long-term investment is akin to finding a needle in a digital haystack. That’s where Ripple’s XRP (XRP-USD) jumps in. The coin consistently demonstrates its worth as one of the top cryptocurrencies primed for secure, long-term placement in any savvy investor’s portfolio.
Year-to-date returns for XRP are an astonishing 110%. Combined with a commanding market cap of $37 billion, it’s no surprise that XRP holds its own.
The main reason for XRP’s steep rise this year is a partial victory in the Securities and Exchange Commission’s legal battle against Ripple Labs. This positive turn of events has enhanced the attractiveness of XRP. The latest developments only serve to underline this conclusion.
Following the verdict, Ripple has taken its first step into the U.K. market. Additionally, it is actively pursuing a payment institution license in Ireland. These moves are not entirely unprecedented. Ripple acquired a stake in the European crypto exchange Bitstamp earlier this year. However, the recent partial victory seems to have bolstered Ripple’s momentum, prompting further expansion and strategic initiatives.
Ethereum (ETH-USD)
Ethereum (ETH-USD) stands out as one of the best choices for long-term investment. It isn’t just the remarkable year-to-date return of 55% that captures attention. Its substantial market capitalization, hovering at $225 billion, underscores investors’ confidence in Ethereum. Moreover, Ethereum has been leading the pack in attracting institutional capital, affirming its growing positive sentiment.
Ethereum has demonstrated its mettle by recovering from a 52-week low of $1,081. It has also secured institutional backing, something previously exclusive to Bitcoin.
In the evolving landscape of cryptocurrencies, Ethereum is establishing itself as a top player. Its recent growth and burgeoning institutional support mark ETH as a stable cryptocurrency with long-term investment potential. Ethereum’s impression remains prominent and persuasive as the cryptocurrency world morphs.
On the publication date, Faizan Farooque did not hold (directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
