The Securities & Exchange Commission (SEC) labelled 67 cryptocurrencies as securities, increasing the selling pressure on these cryptocurrencies. However, there are projects to focus on in the next bull run.
In this post, we’ll see the top 5 cryptos for the next bull run. Let’s understand the meaning of bull run before we go into the top 5 cryptos for the next bull run.
What is a Bull Run?
A bull market, or bull run, is defined as a period of time where the majority of investors are buying, demand outweighs supply, market confidence is at a high, and prices are rising.
If, in a given market, you see prices quickly trending upwards, this could be a sign that the majority of investors are becoming optimistic or “bullish” about the price increasing further and may mean that you’re looking at the start of a bull market.
Investors who believe that prices will increase over time are known as “bulls.” As investor confidence rises, a positive feedback loop emerges, which tends to draw in further investment, causing prices to continue to rise.
Because the price of a given cryptocurrency is substantially influenced by public confidence in that asset, a strategy some investors use is to try to determine investors’ optimism in a given market (a measure known as “market sentiment”).
Top 5 Cryptos for the Next Bull Run
1. Arbitrum (ARB)
Arbitrum is a Layer 2 scaling solution developed by Off-chain labs and the project has captured a large volume of market share. The total value of assets locked on Arbitrum is upwards of $2.1 billion, based on data from DeFiLlama. The protocol’s ARB token is trading at $1 at the time of writing, 88.41% below its all-time high of $8.67.
2. Frax Share (FXS)
Frax Share is a utility token that traders stake for the governance of stablecoins and infrastructure protocols in the Frax ecosystem. FXS price declined 25% over the past week, offering traders an opportunity to scoop up the token nearly 90% below its all-time high of $42.80. At the time of writing, the FXS price is $4.88.
3. Curve DAO (CRV)
Curve DAO’s CRV token is a DeFi utility token of an automated market marker. The protocol aids the exchange of different ERC-20 tokens and supports token swaps. At the time of writing, CRV price is $0.672, up 4.3%
4. GMX (GMX)
GMX is a governance token for the decentralized exchange GMX, a perpetual exchange on the Arbitrum Layer 2 network. GMX price is $45.15, up nearly 2% overnight. The token is 50.41% below its all-time high of $91.07.
5. Chainlink (LINK)
Chainlink’s token LINK represents the decentralized oracle platform. LINK is exchanging hands at $5.17, after posting 2.4% gains since Saturday, despite the marketwide crypto bloodbath.
Conclusion
It is very important for you to do your research before investing in cryptocurrencies. This is because of the high volatility. However, if you must invest in crypto, put what you can afford to lose.
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