Best cryptocurrencies to buy as Bitcoin price rebounds
Cryptocurrency prices have made a strong bullish recovery in the past few days. Bitcoin surged to over $20,000, which was the highest level since early this month. It has risen by more than 13% from the lowest level this month. Here are the best cryptocurrencies to buy as prices bounce back.
Ethereum price rose sharply this week. It managed to rise to a high of $1,556, which was the highest level since September 15. It has surged by more than 25% from the lowest point in September.
Ethereum is a good cryptocurrency to buy because of its strong correlation with Bitcoin and its strong market share in key industries. For example, it has a strong stake in Decentralized Finance (DeFi) and Non-Fungible Token (NFT).
Ethereum has another catalyst. The developers are working on the next big update known as Shanghai which is expected to go live in 2023. The upgrade will bring new functionalities in the Ethereum Virtual Machine (EVM). It will also implement staked withdrawals.
Cosmos is one of the biggest blockchain projects in the world. It makes it possible for developers to build quality interconnectedness applications. Some of the top apps in its ecosystem are Cronos, ThorChain, and Osmosis.
ATOM price has risen by more than 20% from its lowest point in October. The next key catalyst for Cosmos will be the upcoming launch of the second version of Cosmos. This version will introduce staking in its ecosystem and more functionalities. The most important functionality will be on liquid staking, which will help to secure other platforms.
Chainlink is a leading oracle network that makes it possible for developers to bring data from off-chain and on-chain. As such, it is widely used in decentralized finance (DeFi), where it is used by leading platforms like Aave and Uniswap.
Chainlink price has also risen by double-digits in the past few days as cryptocurrencies and DeFi rebound. Like with Cosmos, Chainlink has a catalyst that could push its price higher. First, its developers are working with Swift, the giant payment network.
Second, Chainlink price will also react to the upcoming launch of Chainlink 2.0. The new upgrade will change Chainlink into a decentralized oracle network (DON). As a result, it will become possible to power decentralized smart contracts on any blockchain. It will also introduce staking.
How to buy Chainlink
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