The price of significant cryptos, including Bitcoin and Ethereum, has been rising lately, indicating a return to the cryptocurrency market.
Bitcoin, the world’s largest cryptocurrency, added 3.3% on Monday, August 8 to US$23,786. Ethereum rose 2.9% to trade at US$1,734, according to data from CoinMarketCap.
Many crypto investors are glad to see good movement in the market after enduring a prolonged crypto winter. Others, on the other hand, are pessimistic about the resurgence. Since its inception in 2009, the cryptocurrency market has been known for its rapid rises and falls.
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Crypto Surge Happening Now
As prices continue to surge, buying can be a tempting time. We can surmise that the future of crypto coins looks promising for now.
The current increase in the value of cryptocurrencies may be attributed to many factors. In part, Ethereum’s recent upgrade, “The Merge,” which will enable it to migrate from a proof of work (PoW) system to proof of stake (PoS), may be responsible for this surge. Investors may look forward to speedier transactions, cheaper expenses, and a more efficient network due to the PoS protocol.
During his keynote address last Monday at the Korea Blockchain Week 2022, Vitalia Buterin, co-founder of Ethereum announced that “The update is expected to happen mid-to-late September if all things go to plan.”
Is Investing Now a Good Idea?
Evaluate your present financial situation and risk tolerance and determine whether or not the time is right for you to invest.
No everyone can afford to engage in something as risky as cryptocurrencies since many investors now have cash flow concerns. If you have no cash for unforeseen costs, it is in your best interest to prioritize accomplishing this goal first. In addition, it is prudent to ensure that the balance of your investment portfolio is appropriately diversified, just in case the profits on your bitcoin investments fall short of your expectations.
Think about how much uncertainty you are ready to take in the following stage. Currently, the value of cryptocurrencies is very speculative, and the current price gain is not always indicative of their long-term success. Since the future is expected to bring additional volatility, it is prudent to only invest in cryptocurrencies if you are ready to accept high amounts of risk. If you’re looking for the latest crypto news, then gonzo-cc provides fresh information on Altcoins and more. You can also find tips and privileged info on forums like CRDForum. Here are 4 safe Cryptos given below:
4 Safe Cryptos to Invest In 2022
Ethereum, a cryptocurrency and a blockchain platform, is a favorite among programmers due to the variety of applications that can be built on top of it. These applications include smart contracts, agreements executed automatically once certain conditions are met, and non-fungible tokens (NFTs).
Ethereum’s development has likewise exploded in recent years. Its price climbed by almost 14,800 percent between April 2016 and the beginning of August 2022, going from around $11 to over $1,640.
XRP is a digital currency that can be used on the Ripple network to facilitate exchanges of various currency types. These currency types include fiat currencies as well as other major cryptocurrencies. The same founders created XRP as Ripple, a digital technology and payment processing company.
The price of XRP was $0.006 at the beginning of 2017. Its price reached $0.37 on August 7, 2022, representing an increase of 6,066%.
Lucky Block (LBLOCK)
The LBLOCK token is easily at the top of our list. Lucky Block is a worldwide NFT competition platform where you may win attractive prizes just by holding their NFTs. The prizes vary in value, the largest being $1 million in Bitcoin, a Lamborghini, and a $1 million mansion.
Lucky Block has accumulated around 55 thousand holders since its introduction in early 2022. The coin is now available on several of the world’s largest exchanges, improving liquidity and attracting new investors. As of August 8, 2022, you can purchase LBLOCK for $0.001002 on LBANK and MEXC Global. Lucky Block makes use of an ERC-20 smart contract, which is an industry standard that is used on the Ethereum network.
When engaging with Radicle smart contracts, the RAD token allows for reduced or zero costs. RAD has seen some volatility in recent days. RAD jumped 88 percent on the Kraken market in two days, from slightly under $2 to $3.6 in May 2022.
The price peaked on May 26, 2022, and has since declined, although it just had a big comeback after making a new low. RAD is now trading at $2.46 as of August 8, 2022. We might see another significant increase soon. Analysts believe that now is a favorable moment to enter the market.