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Which Below $6 Crypto Is Worth Investing in for the Long Term?

Cryptocurrency Jun 25, 2022 03:00AM ET
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© Reuters. Which Below $6 Crypto Is Worth Investing in for the Long Term?
 
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  • The CEO of MicroStrategy Inc. said crypto represents a high-risk, high-volatility asset to the short-term investor.
  • But for one with a 10-year term view, it is a low-risk store of value.
  • While BTC and ETH lost over 30% during the recent market collapse, ADA held firm and traded between $0.5 to $0.42.

In the words of Michael Saylor, the CEO of MicroStrategy Inc., crypto represents a high-risk, high-volatility asset to the short-term investor. But for one with a 10-year term view, it is a low-risk store of value. While investors get burned in a bear market, it nonetheless presents opportunities for greater returns with careful planning.

Below we analyze three cryptocurrencies worth considering for the long term.

Cardano (ADA)

ADA is the native token of Cardano, a proof-of-stake blockchain network with a wide range of applications. ADA comes after only Bitcoin (BTC), Ethereum (ETH), and BNB in the rank of the top coins. ADA is arguably the most prominent Twitter (NYSE:TWTR) community and has consistently won polls against BTC and ETH. It currently trades at $0.4974, with a 6% increase in the last 24 hours. While BTC and ETH lost over 30% during the recent market collapse, ADA held firm and traded between $0.5 to $0.42.

XRP is the native token of Ripple, a blockchain-based digital payment network and protocol. Recently, Ripple made several partnerships to facilitate crypto payment services with major brands adopting cryptocurrency. It ranks as the sixth coin by market share and trades at $0.3657, with a 13% increase in the last 24 hours.

UNI is the utility token of Uniswap, a decentralized exchange famous for its automated trading of DeFi tokens. The platform launched its governance token, UNI, in 2020 and distributed it via airdrop to existing users of the exchange, pushing the coin to the limelight. UNI ranks in the top 19 with a market cap of over $4 billion. Last month, Uniswap hit the $1 trillion volume milestone from 3.9 million addresses, indicating significant room for growth. UNi trades at $5.65, with a 5% increase in the last 24 hours.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CQ. No information in this article should be interpreted as investment advice. CQ encourages all users to do their own research before investing in cryptocurrencies.

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Which Below $6 Crypto Is Worth Investing in for the Long Term?
 

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