We can talk about investments and how the best way to enhance your overall profits is by trading and investing in goods that grant high returns, but among all other markets, one has emerged as the best and most profitable one, and yes, we are talking about the crypto market. Okay, the Bitcoin has the lead role here, as it is a coin that most of you are familiar with and know at least the basics of how it works and what to expect from its volatility.
Of course, the fact that it is a coin that’s the most popular and the one with the highest value doesn’t itself says a lot about its overall functionality. Now, some might ask what this means and how they should look at it, and what you really need to know is that even though the BTC is something almost everyone knows about, among more than three thousand coins out there, there are some that sure seem like the most promising ones. Yes, that’s the topic of the year or even a decade, as 2024 might be the year when some coins take the lead role from BTC and establish their name in the crypto market, and that’s why we are here today.
Let’s start with facts
What we will notice if we take a look at just the facts is that, in the past month, Bitcoin went up 18%. However, there is a trio of digital currencies that beat those numbers in the same four weeks, and, in fact, they all did so by double digits, but that’s not something that widely known.
While Bitcoin has had a recent climb, it’s still under its record high by nearly 40%. The trio mentioned above, Kyber, Elrond, and Aave, have each had a much better performance thus far, but the fact that the majority are still unfamiliar with these coins is yet another reason why you should definitely place these three coins on your to invest list. They might wind up going triple digits across the year if they maintain that kind of pace. Bitcoin is certainly the measuring stick that all other digital currencies are compared to, but its market value of $42,700 is far from the high of almost $69,000 it once had.
If you check the value of your Compound holdings often, you might want to also glance at AAVE. Currently, it is valued at just under $166. It did better than Bitcoin by 10% in the last month. This decentralized finance platform lets individuals lend and borrow over ten kinds of digital currencies with one another, and this happens directly. This was the first Defi player to provide “flash loans” or uncollateralized loan options. Aave network borrowers can switch easily back and forth between fixed or variable interest rates contingent upon market conditions at the time. This offers them more control and options for savings.
Also listed as EGLD, this one is currently valued at just under $185 at the time of publication, and it won’t be a surprise if it is even higher at every moment. That’s a rise of almost 35% in the last month, and it is expected that its value will grow even more in the near future. That’s almost twice what Bitcoin has done, and although no one can guarantee how the Bitcoin will do in the next period, it is expected that Elrond will do it even better. The developers at Elrond describe their project as being a blockchain platform for enterprise usage, decentralized apps, and the new online economy. It is great for various users, as they can use it in different forms and get the maximum out of it.
CoinMarketCap says that KNC has risen more than 50% in just the last month, which is a serious amount of growth no matter which cryptocurrency we are talking about. That’s almost triple the returns you would have gotten from Bitcoin in the same span of time, and speaking about the fiat money, it is a lot. Right now, Kyber is trading at just under $3.30 per token, and although it might seem as not too much, its price can increase pretty soon. This network claims it’s the first tool that lets users swap digital currencies with one another directly without changing it into fiat money and buying another currency after that, as many of them are doing.
There’s no need for centralized exchanges provided by third parties, and people are more and more willing to use this type of transaction instead of regular ones. The intention was to let various pools of liquidity be connected with one another and avoid unnecessary high fees and waitings, as many people want to finish the transaction as soon as possible. These collected funds would be deposited together into a broader smart contract across multiple blockchains for seriously high security.
Developers tend to find the construct of Kyber to be quite friendly, so new services are launched and deployed rapidly. Many of them are usable across the whole Kyber network, and it is more than certain that they will be even more accessible in the near future.
It’s pretty possible these three are only beating out Bitcoin due to a relative slump in the first-ever digital currency, and it won’t last for a long time. However, beating out the big dog for any stretch of time is noteworthy, and these three are worth keeping an eye on in the long run as they can bring you a lot of profit. You might even want to invest some in them just to enjoy their obvious potential for growth, not to mention the money you can actually earn if their price continues to grow. They may have more to them than meets the eye. Nothing is certain in the crypto world, but a little risk might mean a lot of profit, so why don’t you try your luck with one of these three cryptos, especially if you have a great crypto exchange platform at your disposal, like the one you can find if you click here.