Cryptocurrencies are considered to be a much riskier investment than stocks because price movements of the crypto market are very wild. This volatility can cost you a lot of money, but it can also help you make huge profits. Here are 5 potential cryptocurrencies worth investing in.
Oryen Network (ORY)
Oryen Network is a crypto staking platform. The platform utilizes the proprietary OAT mechanism, which stands for Oryen Autostaking Technic. As a result, it removes the burden of interacting with staking contracts and only requires investors to hold $ORY in their wallets. The circulating supply of the token is basically funded by the token’s buy and sell fees (buyers pay 8% and sellers pay 12%).
ORY is one of the most potential tokens as it offers a fixed APY (annual percentage yield) of up to 90%. This attractive APY is supported by the Risk-Free Value (RFV) wallet, which is used to support the price of the ORY token in periods of volatility. Oryen Network offers plentiful passive income for very little effort, making it suitable for all investors. Oryen Network will be launched on December 30, 2022.
Maker has been around for quite some time and there is no denying the appeal of the MRK token. The Maker team has created the DAI token, a stablecoin that aims to maintain a stable 1: 1 value against the US dollar.
MakerDAO (MKR) is an ambitious project aiming for increased adoption and further decentralization in the future. According to its roadmap, the project may take 3 years to launch the mainnet on Ethereum. Maker is a two-token system that includes both the MKR and DAI ERC-20 tokens. Both use ETH as a trading pair. Holding MKR comes with voting rights within Maker’s continuous approval voting system. If you want to invest in the long term, MKR is not a bad choice because it serves as both Utility Token and Governance Token. The higher the demand to own the token, the higher its price.
Fantom is known to be a very successful crypto project. Fantom is a smart contract platform that uses a directed acyclic graph (DAG) rather than a blockchain to support a network aimed at maximizing speed and scalability. It is expected to overcome the shortcomings of similar projects and expand the capabilities on the blockchain.
One of the most relevant and known features of Fantom is probably its consensus algorithm that is considered the real backbone of the network, which allows Fantom to reach the speed, reliability and security that it promotes. And, the consensus algorithm behind Fantom is Lachesis. It is worth mentioning that Lachesis uses an Ethereum virtual machine (EVM) that is fully compatible with Ethereum. This makes Fantom flexible, allowing developers to migrate Ethereum-based dApps to Fantom Opera mainnet.
Elrond (EGLD coin)
Elrond protocol is a fast, secure, and scalable protocol with extremely high scalability. It is expected to create a new breakthrough with extremely high scalability while ensuring the safety and security of the whole system in the DeFi space. The goal of the Elrond Network ecosystem in the future is to be able to connect blockchains with unprecedented transaction speeds of up to 10,000 trx/sec with almost zero transaction fees.
On November 20, 2021, Elrond (EGLD) officially launched Maiar DEX and a development fund worth 1.29 billion USD. Maiar’s TVL on the exchange reached 200 million USD after 4 hours of launch and it took only 2 weeks for TVL to reach ATH of 2.5 billion USD.
Chainlink is the most widely used decentralized oracle network that connects blockchains with off-chain data. Chainlink aims to create a network of decentralized oracles for smart contracts to securely interact with. Chainlink is inextricably tied to its network of Oracles. By receiving data from multiple Oracles before triggering an outcome, it eliminates any single point of failure and maintains the overall value of smart contracts that rely on external data. With a multi-chain future ahead, Chainlink will be an integral part of this ever-expanding world.
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