Three New Cryptocurrencies to Keep an Eye On
If you’re an investor in cryptocurrencies, then you already know about the debacle that went down this year with the industry. You may also want to keep some distance for fear of the downward trend continuing and losing your investment. And of which we say you’re right. The crypto market can be a bit too volatile and may not be your investment opportunity if you’re a conservative investor.
However, if you hold the same sentiment as us and think crypto is still a young, budding industry struggling to find its footing, keep reading. Because in this piece, we will look at three new cryptocurrencies you can find on the best crypto apps in the UK and even maybe your next investment opportunity.
- Tamadoge (TAMA)
Tamadoge is a play-to-earn ERC-20 token that’s the official currency of the Tamavrse, a decentralised gaming platform. It launched in July of this year and raised $10 million in presales in its first four weeks. Furthermore, there will only be two billion tokens when the supply hits its max, and you can already purchase gaming assets and NFTs on the Tamaverse.
The Tamaverse allows players to create NFT avatars that they use to battle each other while growing their value by earning more dogepoints. You can then use these points to transact within the game’s universe via smart contracts.
Furthermore, we think that TAMA is a crypto to watch out for in the future because its creators have set apart 35% of the total coins for marketing and development purposes. It’s also looking to join key crypto exchanges and partnerships with entities such as the Metaverse.
- Decentraland (MANA)
Decentraland is another play-to-earn game with its own fictional universe looking to gain your attention. Its in-game currency is MANA, which you can use to buy assets such as land that you can use to create and own assets within the game. Furthermore, you can visit other players’ creations in the universes or even monetise your content within the platform.
To make things more interesting, MANA has the second largest market cap in the play-to-earn gaming scene, already making it a force to be reckoned with. In addition, you can also trade your in-gaming assets for cryptocurrencies other than MANA, which gives you more options and possibilities on the platform.
Another reason MANA will be a crypto to look out for is that in May, Millennium Hotels and Resort, a well-known hotel chain, partnered with the platform to open the first metaverse hotel. We really don’t know what this means but are waiting to see how it plays out. However, that’s not all; Decentraland is also in talks with the producers of the film, The Infinite Machine, which will raise the platform’s image and NFTs.
- Solana (SOL)
Solana is a DeFi, decentralised finance, and a DApps, decentralised apps platform that operates on hybrid proof-of-stake and proof-of-history blockchain algorithms. It’s also one of the fastest growing cryptocurrencies, with a market cap of $11 billion and only having launched in 2020.
The platform allows for the creation of apps and project ecosystems that are scalable and easy to integrate with other systems, making it an excellent vehicle for global networks. Furthermore, Solana boasts of some of the highest block creation times, making it one of the most efficient cryptocurrencies on the market.
However, some Solana users experienced a security breach that drained their funds from their accounts. But after further investigations, they found the hacked wallets connected to another platform which had nothing to do with Solana’s security.
To Sum it All Up
Investing in the cryptocurrency industry might not look like the right thing to do now, especially if you’re not a seasoned investor who understands how to take advantage of a highly volatile market. Leave alone asking you to look at new cryptos with uncertain futures. But as Matt Damon put it in his Crypto.com ad, fortune favours the bold.
And if you’re like us, you believe that the crypto market is here to stay and that the current conditions, no matter how bad they’ve been, are just a patch we’re going to get through. Furthermore, crypto will rise again and become the winner it once was. So while at it, why not look at the up-and-coming and see if any pull your strings?