Business & Investment

Three top cryptocurrencies down up to 45% from record highs

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In the last two months Cryptocurrency investor The value of the portfolio has plummeted. After hitting a record high in November 2021, most digital tokens are now down sharply. Let’s take a look at three well-known cryptocurrencies that are attractive to contrarian investors.

Solana

One of the best performing cryptocurrencies in 2021 Solana (CRYPTO: SOL) Last year it surged 10,000%. Currently, SOL tokens are down 46% from record highs, valuing the sixth largest cryptocurrency with a market capitalization of US $ 43.66 billion.

Solana enjoys several advantages over other blockchain networks in terms of scale, cost, and transaction speed that allow decentralized application (dApp) projects to be onboarded on the platform. Basically, dApps use smart contracts to serve on blockchain networks.

The transaction speed of the Solana network is 50,000 per second, which is Ethereum (Cryptography: ETH), The transaction speed is only 30 per second. In addition, Zebec is a Solana-based payment protocol that enables real-time financial transactions in the areas of investment and payroll.Payment processing giant earlier this month visa Announced a collaboration with Zebec, a pioneer of many disruptive payment solutions.

avalanche

avalanche (CRYPTO: AVAX) Is the 11th largest cryptocurrency in the world and trades with a market capitalization of US $ 22.5 billion. AVAX tokens increased by more than 3,300% in 2021 and are now down 37% from record highs. Like Ethereum and Solana, the Avalanche blockchain is a smart contract platform that supports scalable dApps, including DeFi products.

The Avalanche network is protected by a PoS (Proof of Stake) mechanism in which validators validate transactions and sample a small portion of the computer, rather than waiting for each node to reach an agreement. This consensus mechanism allows the Avalanche network to execute 4,500 transactions per second, which could reach 20,000 in the near future.

In addition to speed and scale, the Avalanche blockchain is also interoperable. It is compatible with Solidity, the programming language that developers use to build dApps on Ethereum networks. Basically, dApps deployed on Ethereum can also be made available on Avalanche.

sandbox

The last cryptocurrency on my list is sandbox (CRYPTO: SAND), Increased by more than 9,500% After August 2020.. However, SAND tokens have also fallen 42% from record highs, with a market capitalization of US $ 4.47 billion.

The Sandbox, a blockchain network that is part of the Metaverse segment, should benefit from some long-term tailwinds in the future. According to data from Nonfungible.com Buying digital real estate It’s already over $ 100 million.

SAND tokens built on the Ethereum blockchain are used to facilitate transactions in the virtual world. Here, players can buy and sell real estate inventories and create their own assets that can be sold at a later date.

Currently, the utility of SAND tokens is limited to sandbox games. However, sandboxes are gaining momentum rapidly and will be available on mobile devices by the end of 2022, increasing demand for tokens.

Three top cryptocurrencies down up to 45% from record highs

https://www.fool.ca/2022/01/12/3-top-cryptocurrencies-that-are-down-up-to-45-from-record-highs/ Three top cryptocurrencies down up to 45% from record highs

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