As cryptocurrencies gain popularity, more and more options become available. With over 10,000 cryptocurrencies available for investment, determining the best cryptocurrency options can be extremely difficult.
In May, the top cryptocurrencies that people rush to invest in are listed below.
- Polygon (MATIC)
Polygon’s plan to help Terra blockchain developers propelled it to the top of the list of investors in May. It has recently announced the establishment of a multi-million dollar fund to assist Terra-based projects. According to Polygon CEO Ryan Wyatt, the fund is a “relatively uncapped multi-million dollar fund.”
Polygon is a Layer 2 scaling solution backed by Binance and Coinbase. The project aims to increase cryptocurrency adoption by addressing scalability issues on multiple blockchains.
- Solana (SOL)
Solana has recovered by more than 40% from its low point in the middle of the month this year. It is currently trading between $44 and $58 per share. If the coin is to completely invalidate the bears, it will rise above $70.
As the asset’s price began to move northward, buyers regained confidence and began to re-enter the market.
Among other blockchains, the Solana blockchain is a strong contender. It quickly rose in value to become one of the largest cryptocurrencies by market cap after taking the decentralized finance space by storm.
- Gnox Token (GNOX)
Gnox, a Binance Smart Chain reflection token, gains 52% in its first-round presale. It recently completed a thorough background investigation and will receive a Soken KYC badge on May 21, 2022. Its native token, $GNOX, increased in value from $0.01 to 0.0152.
In May, the crypto community was drawn to Gnox’s passive income utility. The plan has been developed to reward long-term investors by instituting buy and sell taxes, which are used to fund a treasury.
This treasury is used to generate yield, which is distributed proportionally to token holders based on the number of tokens owned.
- Tron (TRX)
TRON is the only top-20 blockchain to gain with a 41.33 percent monthly surge. Last week, it rose 33.23 percent. The DeFi sector has lost about $90 billion in liquidity since last month, with the most prominent blockchains’ total value locked down by 30 to 70%. Tron’s current TVL outperforms Avalanche and Solana.
Tron is experiencing growth in its DeFi ecosystem and is currently the third-largest blockchain in terms of total value locked, trailing only Ethereum and the BSC.
- FTX Token (FTT)
With the recent increase in their holdings, FTX Token is now the largest token position for the top Ethereum whales in terms of dollar value. These whales tend to buy in the same patterns, and thus their holdings tend to match.
FTX Token, which is on the list, has been competing with meme coin Shiba Inu for the top spot. However, with recent developments, it has surpassed the USDC’s holdings of these whales.
Conclusion
Long-term crypto investments are profitable despite market volatility. They can be used as retirement savings or as a financial cushion in a recession. The cryptocurrencies listed above have distinct features and benefits, and as a result, investors are flocking to them.
Learn more about Gnox:
Join Presale: https://presale.gnox.io/register
Website: https://gnox.io
Telegram: https://t.me/gnoxfinancial
Discord: https://discord.com/invite/mnWbweQRJB
Twitter: https://twitter.com/gnox_io
Instagram: https://www.instagram.com/gnox.io
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Source: https://www.thecoinrepublic.com/2022/06/03/5-cryptos-that-investors-are-rushing-to-invest-in-this-month-polygon-matic-solana-sol-gnox-token-gnox-tron-trx-and-ftx-token-ftt/