Top 5 cryptos to watch long term

Highlights 

• In the long term, some experts say only cryptos with a well-defined utility may sustain and return a profit
• A new crypto may take birth any day, but investors might be better placed if they rely more on fundamentals
• The crypto market is presently trading at a value lower than its all-time high

 

Are cryptocurrencies a bubble, or are they an asset class that would defy odds and give backers good returns in the long run?

Different billionaires have different, and perhaps at times contrasting, views on cryptocurrencies. Warren Buffett of Berkshire Hathaway once likened Bitcoin to “rat poison”. The vice chairman of his company, Charlie Munger, also had a comparable stance, and wanted a ban on cryptos. But lately, investment by Berkshire Hathaway in Nubank, which has an arm, NuInvest, that facilitates crypto ETF investments, stunned many.

On the other hand, Elon Musk, Michael Saylor and Jack Dorsey have mostly remained bullish on some crypto assets. This is why Mr. Musk’s Tesla and Saylor’s MicroStrategy hold investments in BTC. Mr. Dorsey claims that Bitcoin could one day emerge as the “native currency” of the internet.

In this light, it is important to take a look at those crypto assets that could return profits in the long run. Though nothing is certain in the hyper-volatile cryptocurrency universe, the below five deserve close attention.

1. Bitcoin (BTC)

Many point to the fact that Bitcoin’s share in the aggregate market cap of all crypto assets is declining. This may be true, but even today, the share is over 42 per cent. This is no mean feat when we know that tens of thousands of cryptocurrencies are floating in the market today. Bitcoin is the largest asset in the cryptocurrency world, and it may be counted as the heart of blockchain-based digital assets.

Bitcoin has usually fared well in the long term. For example, the price of BTC at the start of 2021 was higher than the price at the start of 2020. Likewise, Bitcoin’s return for the full year of 2021 was positive.

But yes, short term disruptions ail this crypto. The price reached US$68,000 in November last year, but it has remained under US$48,000 so far in 2022.

In the long-term, however, Bitcoin may gain if it truly emerges as the native token of the decentralized version of the internet, Web 3.0.

Also read: Bitcoin price prediction 2025: Can Web 3.0 catapult BTC to $300,000?

2. Ethereum (Ether)

Ether, with a share of over 18 per cent in the aggregate market cap of all cryptos, ranks just below BTC. Ethereum’s blockchain has immense use in almost everything related to blockchain, from NFTs to DeFi to native tokens.

Of late, the networks of Solana, Fantom and other blockchains have also been adopted by DApp developers, but Ethereum remains at the top, thanks to its market cap of nearly US$370 billion as of writing.

The Ether token is used within the network, and Ethereum’s adoption may lead to price appreciation in the long run. Ether has also remained under pressure so far in 2022, but if DApps and NFTs continue to make noise, Ether may also rise in value as Ethereum underpins many NFT assets and DApps.

Data provided by CoinMarketCap.com

3. Dogecoin (DOGE)

Dogecoin has its own lure. One of the reasons behind the wild popularity of this so-called meme token is Mr. Musk’s regular tweets featuring Dogecoin.

Lately, there was a buzz in the market that fast-food giant McDonald’s may also start accepting DOGE, but it has so far remained an unrealized dream of DOGE backers.

But in Web 3.0, Dogecoin may find its place. Web 3.0 may have token-led economics, where users can utilize tokens to reward content creators.

Dogecoin is a famous crypto and it ranks in the top 15 by market cap. Musk also once tweeted that he was working with DOGE developers to improve the network.

If Dogecoin becomes a preferred token in Web 3.0, it may emerge from the present subdued phase, and in the long run, it may create wealth for its backers.

Also read: BTT, SHIB & XEC: Top 3 cheap cryptocurrencies with market cap over $1B

Top Cryptos To Watch Long Term

4. Shiba Inu (SHIB)

SHIB emerged as a late entrant into the meme cryptocurrency universe, but it is arguably as popular as Dogecoin. In the long term, SHIB’s price could be a product of how its blockchain performs.

Shibarium, developers claim, may have a lower transaction fee than Ethereum. Besides, a SHI stablecoin is also in the offing. SHI may compete with Tether, which is presently the most traded stablecoin.

If Shiba Inu can provide users a complete blockchain ecosystem, complete with a blockchain network, a native token and a stablecoin, Shiba Inu may reach US$1 per token, a milestone that its backers are envisioning. Shiba Inu’s token may have use in Web 3.0 as a token for incentivizing content creators.

Also read: Canada Emergencies Act: Cryptos come under ‘terrorist financing’ laws

Data provided by CoinMarketCap.com

5. Audius (AUDIO)

Audius is neither a high market cryptocurrency nor does it make as much noise as DOGE or SHIB. But the Audius project has a well-defined utility, which makes it a top crypto for the long run.

Audius could decentralize the music streaming sector by its use of blockchain technology. The project claims it can bridge the gap between users and music creators, and in this endeavor, it may rid the industry of powerful labels.

Audius is also said to have forged a partnership with Rally, a crypto project that allows fans to connect directly with creators by using tokens. The Audius token, if it can decentralize music and put more power in the hands of creators, may rise in value in the long run.

Also read: What is Mask Network & its crypto’s price prediction?

Bottom line

The above five cryptocurrencies remain a close watch due to their market share, utility, and popularity. That said, other altcoins may also rise, and the list may change depending on what other projects bring to the table.