Bitcoin
5 Expert-Picked Altcoins to Buy for a $1 Million Crypto Portfolio
Cryptocurrency prices have fallen and this, to a large extent, is pushing investors over the edge. Although Bitcoin Price has remained relatively subdued since the halving in April, most altcoins to buy are bearing the brunt.
For investors looking to grow their crypto portfolios to over $1 million by 2024, narrowing down to the best altcoins to buy is the toughest battle. However, CoinGape a list chosen by experts can be a starting point. Conducting more research before deciding to purchase any crypto token is critical.
1. Top Altcoins to Buy -Ethereum
Diversifying your portfolio of altcoins to buy requires careful planning. As the largest altcoin with a market cap of $358 billion and ranging at $2,987, Ethereum earns a place in this portfolio.
The transition from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism continues to open the Ethereum network to new opportunities. Investors can now stake ETH to participate in transaction validation and keep the network secure. By doing so, they earn rewards in kind, thus increasing their wealth.
The emergence of liquid staking protocols like Read DAO allows stakeholders to access liquidity.
Ethereum is currently 38% below its all-time high of $4,878, CoinGecko data show. As the second largest cryptocurrency, Ether is one of the most traded digital assets and is therefore extremely liquid.
Ethereum Weekly Price Chart
Compared to other altcoins, Ethereum has similar stability to Bitcoin. This reduces the volatility of the crypto portfolio, thus helping to manage risk.
2. dogwifhat (WIF)
The meme coin craze is far from over, with tokens in this sector and immense potential. Meme coins particularly in the Solana ecosystem have become gems as investors look for a piece of the pie.
Dogwifhat (WIF), in a short time became very competitive, reaching a new all-time high in the first quarter. It has a large social following, often increasing price movement.
After rising to $4.85 on March 1 from an all-time low of $0.067 in January, WIF gained a lot of attention from investors looking for quick gains.
As a meme coin, dogwifhat is among the most volatile cryptocurrencies on the market. Hence, investors must make calculated decisions when using it to diversify portfolios.
WIF Price Weekly Chart
WIF fluctuated at US$2.89 on May 8, after its value depreciated by 12.30% in 24 hours. The crypto market has been experiencing stagnation in recent weeks, with most tokens struggling to find direction.
3. Solana
Smart contract tokens like Solana were developed to provide alternative platforms for decentralized applications. Investors saw its potential as Ethereum ‘killers’, solving key challenges such as network congestion and high transaction costs.
Solana suffered the impact of FTX implosion dropping to $8 from a record high of $260. Although the narrative was that the ecosystem was dead and SOL might not recover.
Solana price chart
Surprisingly, Solana has made a splendid recovery in the last two quarters, rising to $209 in March this year. Due to the current headwinds in the market, Solana trades at a steep discount from this level at $146, and it is worth having the altcoins to buy into the portfolio.
4. Polygon (MATIC)
The Ethereum ecosystem offers several technologies that help promote the network. Polygon and others layer 2 The protocols work on top of the Ethereum blockchain, allowing for faster and cheaper transactions, subsequently confined to the mainnet.
Polygon Price Chart
Polygon has a market cap of $6.3 billion, ranking 20th among other cryptocurrencies. After an all-time high reached in 2021 at US$2.92, MATIC, is offering a 76% discount. In the last 24 hours, the token lost 4% of its value to $0.678.
5. Hedera (HBAR)
Hedera is a token known for contributing to the decentralized cryptoeconomy as an enterprise-grade public network. Developers creating powerful decentralized applications (dApps) consider the system to be very stable.
Based on CoinMarketCap data, HBAR fluctuated at US$0.1088 on Wednesday, down 3% in 24 hours. From the all-time high of $0.56, Hedera offers an 81% discount.
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