Redditors tend to go against the grain and make investment decisions that puzzle most “expert” watchers. We all witnessed during the Gamestop rally when these “soldiers” decided to “hold the line”, which led to the downfall of major hedge fund companies.
However, things are different when it comes to cryptocurrencies. No one knows how the market trends vary. The only factor people have to go on is when the community decides that some crypto tokens win and others lose.
This week, there are five cryptocurrencies that Redditors have chosen to rally behind, and you, too, can learn from them and tap into their gains – if you want to.
1. Lucky Block (LBLOCK): The token that might’ve found a bottom
Crypto gaming is no stranger to cryptocurrencies that come promising rewards and leave with nothing to show for it. LUCKY BLOCK IS NOT ONE OF THEM. It is the primary token of the Lucky Block gaming ecosystem and the attention of most fans who’re looking to earn big from their crypto investments.
Launched in 2021, LuckyBlock started gaining attention really quickly with its lucky draws that have rewards for all. Since every participant has something to gain from the investment, many consider it as a way to earn passive income that grows to massive proportions if they are lucky enough.
Currently, the LBLOCK has 50,000 holders. This number might seem minute as compared to the rest, but do keep in mind that it is a young cryptocurrency, with its utilities slowly being revealed. And the more people can see, the more they are interested.
Currently, the LBLOCK price lies at $0.001222, and it has been down for the past 24 hours. However, many experts say that this token is about to find a bottom. And with the more jackboots coming later this year, the price will see massive growth, possibly giving the investors 10x gains.
LBLOCK reward consists of a massive $1 million giveaway. The platform sells tickets for $5. The draw begins, and winners get a chance to win $1 million. Lucky Block doesn’t limit the rewards to dollars. It also organizes an NFT Giveaway.
Your capital is at risk
2. Bitcoin (BTC) The Token in Pursuit of that $100,000 mark
Bitcoin is a name synonymous with blockchain. Many still consider Bitcoin to be the only cryptocurrency there is available in the market. Their ignorance aside, the fame and the infamy that Bitcoin has gained over the years has no parallel.
Often criticized for being an energy hog, Bitcoin has faced several sanctions from the government’s side, the latest being the New York Bank on its mining operations. Surprisingly, these events were the tell-tale signs of a token falling. It is not the case with Bitcoin.
Redditors are still rallying behind this market leader, and Twitter has more than enough supporters of the token.
However, this year has been especially trying for Bitcoin, especially when it fell below the $30k mark. It left those who wanted to “short” Bitcoin, on the edge of their seat.
It has once again fallen below that point, and experts are saying that the bottom is in. The price has been down 2.73% in the last 24 hours.
Then why are Redditors recommending that this token is one to buy in 2022? It’s because they’re looking at the big picture.
But this has also been the year in which Bitcoin has earned the approval of major organizations, including governments. El Salvador, with its 70% unbanked population, accepted Bitcoin as a legal tender, saying that it is far more stable than the Argentinian Peso. Other countries are likely to follow the same route.
Your capital is at risk
3. Ethereum – The Below $2k Mark is looking good to some people
ETH has also seen new lows in this bear market. No one would have thought a year ago that it would go below $2K, but it has. Currently, the token is trading below $1.7k. The current price is $1.67K, and it is down by 6.78% in the last 24 hours.
The community has all the reasons not to trust this cryptocurrency. But they still do, especially Redditors who continue to be bullish about it.
The reason lies in the trust in the upcoming Ethereum 2.0, an upgrade that will shift Ethereum to Proof of Stake Consensus. The ETH 2.0 went live two days ago on the Ropsten Testnet.
And if that wasn’t enough, there is also the beacon chain that has given more than a few reasons for the crowd to still believe in Ethereum. The world’s second-leading blockchain is doing all of this in preparation for the Merge that will happen sometime in 2023.
Your capital is at risk
4. FTX Token (FTT) – A Discount Token gaining Attention
FTX Token is not strictly a crypto token. It is a reward token offered by FTX, a cryptocurrency trading platform. Holders of this token can offset the trading fees on the platform and gain other perks.
FTX is one of the world’s leading crypto exchanges, what’s suitable for veteran crypto investors who want to get intricate details about the investments.
On the marketing front, FTX has no match. Being founded by crypto Billionaire Sam Bankman-fried has allowed this to partner with big names such as Mercedes Benz.
The current price of FTX Token is $28, which is down by 2.31% in the last 24 hours.
Redditors continue to be bullish because most among them are veteran crypto investors who have always supported FTX.
Your capital is at risk
5. Solana (SOL)
The final favourite of Redditors in this list is Solana, high-speed, low transaction fees, and censorship-resistant token that fits right in with the anarchist proclivities of most Redditors.
SOLANA has a dual consensus mechanism which combines Proof of Stake and Proof of History to ensure that the transactions are always in the right order. When it comes to speed, the network can handle 50,000 (TPS).
The current Solana price is $32.74%. It is down by 8% in the last 24 hours but still ranks among the top 10 cryptocurrencies in the world.
It is not just because of the affordable NFTs that Solana has been providing. The reason behind Solana’s recent surge is because of the interest of other networks. Blockchain technology can only evolve with collaboration. Solana is partnering up with other chains to help them expand. It teamed up with Chainlink recently to help with its expansion drive.
Your capital is at risk
Conclusion
This ends the list of top 5 cryptocurrencies that Redditors are excited about. Most in the list are established cryptos, but Lucky Block is the new kid. However, its utility is unparalleled and has the attention of the most enterprising Redditors.
Read More
Lucky Block – Our Recommended Crypto of 2022
- New Crypto Games Platform
- Featured in Forbes, Nasdaq.com, Yahoo Finance
- LBLOCK Token Up 1000%+ From Presale
- Listed on Pancakeswap, LBank
- Free Tickets to Jackpot Prize Draws for Holders
- Passive Income Rewards – Play to Earn Utility
- 10,000 NFTs Minted in 2022 – Now on NFTLaunchpad.com
- $1 Million NFT Jackpot in May 2022
- Worldwide Decentralized Competitions
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Source: https://insidebitcoins.com/news/5-crypto-trending-on-reddit-for-10x-gains