Most people think of Bitcoin (BTC) or Ethereum (ETH) when they consider investing in cryptocurrency. Many people are unaware of the differences between the two terms and are uninterested in other cryptocurrency options. Part of the reason Bitcoin (BTC) has become so successful is because of this. Other factors include the limited supply, and institutional investors’ interest in this asset class. Calyx news…
Despite altcoins being more likely to return higher profits, Bitcoin (BTC) has undergone a glorious growth phase. Even at its current price, which is around 50% below its previous high, its upside potential is limited. To double your money, it would have to go beyond its previous high point, and beyond $100,000 — a level that’s becoming increasingly elusive. All jst to triple the price.
However, there are numerous and relatively stable cryptocurrencies that are better positioned for such growth. Solana (SOL), Cardano (ADA) and Calyx Token (CLX) are three cryptocurrencies predicted to experience a meteoric upturn this year.
Solana (SOL) is currently trading at $114 per unit, down from a high of $322 last year. To triple your earnings, the cryptocurrency only needs to reach $350, which could be perceived is a very achievable number at the moment. It would need only a fraction of the market cap movement in comparison to BTC.
Even though it’s currently a good buy due to its large discount, it’s expected to become even more heavily discounted as the current slump continues, owing to two factors. The first factor is the general market in the United States, which has an impact on Bitcoin (BTC), and it is expected to suffer as a result of the Fed’s expected announcement of higher interest rates.
The second factor is unique to Solana (SOL). Solana (SOL), as an NFT favourite, sees a lot of traffic related to these tokens. NFT-mining bots have caused a seven-hour outage in the Solana network, which is not an uncommon occurrence.
When something like this happens, investors begin to doubt the network’s and associated crypto’s reliability. Many begin to sell their holdings in good faith. This may result in an even higher discount, enhancing the recovery-based return potential.
Cardano (ADA) has been around since 2017, which is enough time for a cryptocurrency to mature, and there are a number of reasons why it stands out and may be a better option than Bitcoin (BTC).
The most important reason is that it provides long-term viability. The energy used to maintain the blockchain and validate transactions is a major chink in Bitcoin’s (BTC) armour.
The process with Cardano (ADA) is very green and almost instantaneous. The price is low, and the potential for decentralisation is greater than most other cryptos and blockchains.
In terms of growth potential, the cryptocurrency is currently trading at a 71% discount to its recent peak, and simply re-achieving its all time high could result in a 300% increase.
Calyx Token (CLX)
Calyx Token (CLX), the latest liquidity protocol coming to the market, employs state-of-the-art technology to enable users to escape the slow processing times and extortionate gas fees associated with crypto exchange platforms.
Calyx Swap, the platform’s exchange solution, will aggregate liquidity from multiple sources across multiple DEXs belonging to different blockchain networks such as Ethereum (ETH), Polygon (MATIC), Binance (BNB), and Avalanche (AVAX) to give users the best rate of any swap on any supported blockchain network.
As well as this, Calyx Token (CLX) plans to be completely permissionless and decentralised. This means that users will not have to undergo the extensive security checks associated with centralised exchange platforms, or even register, to use the swap. This is expected to boost Calyx’s (CLX) popularity significantly, and could possibly push up the price of the token.
Calyx Token (CLX) is currently in its presale stage, so early buyers are likely to gain significant returns on launch. CLX holders have been leveraging the presale as an opportunity to profit from the platform’s anticipated success, as its White Paper promises to bring revolutionary changes to the crypto market.
Judging by the research, Solana (SOL), Cardano (ADA) and Calyx Token (CLX) appear to be strong long-term contenders in the volatile market and look capable of bringing about many transformative changes.
Presales are often interpreted by seasoned investors as a shortcut to maximising their gains, as well as paving the way for cryptocurrencies to triumph in the competitive market, as demonstrated by Ethereum (ETH) and Litecoin (LTC), both of which started off as presales.
However, always do your own research and only invest reasonably.