2 cryptos to buy now 90% off

0
5


Let’s take a closer look at two of the most promising projects in the ever-evolving world of cryptocurrency: Polka dot (dot 4.88%) And cardano (ADA 4.74%).

Both of these projects are gaining a lot of traction in the crypto community and are becoming options for many investors. This is true even after both cryptos have seen their prices fall by more than 90% in the last 13 to 16 months.

But what are the big ideas and potential value drivers associated with each of them? This is the topic of today’s discussion. What’s ahead is a battle of the brains as two Motley Fool contributors explain why you might want to own Cardano or Polkadot right now. So, put on your thinking cap and dive in!

Web3 is the lifeblood of the revolution

Anders Bylund (DOT, aka Polkadot): If you haven’t heard of Web3 yet, it’s time to read up on the coming sea change

Polkadot is a multichain network that enables interoperability between different blockchain networks. This means that different blockchains can communicate with each other and share information, which opens up a whole new world of possibilities for decentralized apps and projects. Additionally, the Polkadot project provides an easy-to-use development platform for coders who want to take advantage of Polkadot’s many features.

It also allows for scalability and flexibility that many other blockchain platforms do not offer. Many specialized blockchain networks give Polkadot its power by squeezing the most value out of it, and the DOT token (also commonly known as Polkadot) makes this complex system work. So in the long run, the Polkadot token should become valuable as more consumers, businesses, and developers take Web3 applications to the mainstream.

This is not assumed, by the way. Polkadot was launched by the Web3 Foundation, precisely designed to provide the digital glue you need to create a decentralized version of the web experience that works. “Web3’s multichain vision starts here,” Polkadot announces on the project’s homepage The Web3 Foundation’s site calls Polkadot its “flagship protocol”. This is how Web3 is going to work. Polkadot plays an essential role in this ecosystem.

So, let’s say you’re interested in the future of the decentralized web, where ownership moves away from large corporations and closer to creators and end users. In that case, you’ll definitely want to keep an eye on Polkadot.

A high-risk, high-reward crypto rebound game

Keith Noonan (Cardano): The Cardano platform provides a layer-1 blockchain solution for building and running applications, and its ADA token is used as the basic currency for transactions on its network.

With a market capitalization of roughly $10.7 billion, ADA ranks as the eighth-largest cryptocurrency by valuation and has seen dramatic token-value pullbacks in tandem with pressure to shape the broader crypto market. ADA Token has fallen nearly 90% from its lifetime high in September 2021.

The past year has undoubtedly played host to disappointing developments for Cardano investors. But because of the big sell-off, the ADA token could be worth it for risk-tolerant investors looking to play in anticipation of the next cryptocurrency bull market.

Cardano is likely to benefit from the shift in the crypto and blockchain-project space, particularly as headwinds hit. Solana — one of its main competitors.

In addition to several instances of hacks and security breaches for apps built on its blockchain and claims that the non-fungible token project crashed, Solana faced pressure from the scandal-plagued FTX exchange it built on its network. FTX founder and CEO Sam Bankman-Fried also owned a large position in Solana’s SOL token.

Issues related to the FTX scandal prompted some projects and developers to leave the Solana network. Cardano may ultimately benefit from the situation and be better positioned for the challenge Ethereum In the Layer-1 blockchain service space.

Cardano’s network offers more energy-efficient and cost-efficient transactions than Ethereum, and its scalability advantage could help the network gain traction for building transaction services, digital wallets, and other applications.

Cardano remains a relatively high-risk investment, and would not be suitable for those unwilling to embrace the possibility of further valuation volatility in the near term. But for investors looking to make big gains in the cryptocurrency and blockchain services space, the ADA token stands out as an attractive rebound play.

Investing in crypto can be risky, but both Cardano and Polkadot have serious growth potential. Before committing your cash to any of these promising crypto names, you should research their technology platform and potential partnerships. Doing a little homework now can pay off big in five or ten years. Investing small amounts in high-quality cryptocurrencies now can bring big returns in the future.

Anders Bylund has positions in Cardano, Ethereum and Polkadot. Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has positions and recommends Cardano and Ethereum. Motley Fool has a revealing policy.


LEAVE A REPLY

Please enter your comment!
Please enter your name here