Top 5 Cryptocurrencies to Consider in the New Year

Cryptocurrencies were born to make transactions easier and faster. But before adding these to your New Years portfolio, you need to have a thorough understanding of them and their benefits. Here are 5 cryptocurrencies that look very promising in the future.

Solana (SOL)

Solana is an open source project that implements a new, powerful, permissionless and fast blockchain implementation.

It has a block time of 400 milliseconds, and as the hardware gets faster, the network gets faster too. Solana’s scalability ensures that developers and users can conduct transactions valued at less than $ 0.01.

In terms of price, SOL has fallen nearly 3% in the past 24 hours and is currently at $ 172.

Source: Tradingview

Not only is it super fast and inexpensive, Solana is also censorship resistant. This means that the network remains open to unsolicited applications and transactions are never stopped.

Solana’s crypto-economy system is intended to promote a healthy, self-sustaining economy in the long term with appropriate incentives for the security and decentralization of the network. The main actors in this economy are the authenticating clients.

Pile Moon (SMOON)

Since launching in early November, Cryptocurrency StakeMoon has raised $ 1,200,000 and continues to grow.

The new and innovative digital crypto project is still in its infancy, but looks like a promising investment. To reward long-term holders, StakeMoon tokens have a tax policy that penalizes market speculators. This money will be used to pay regular dividends to existing owners and flexible staking rewards.

Transactions are taxed at 15%, of which 10% is distributed to holders and the remaining 5% is allocated to the StakeMoon liquidity pool. Tokens will not be blocked within the minimum redemption time. Instead, stakers can withdraw their SMOON at any time.

Launched on November 20th on the PancakeSwap (DEX) decentralized exchange, StakeMoon creates a marketplace for users to buy, sell and trade hundreds of decentralized financial brands with no party involvement.

StakeMoon quickly attracted attention and rigorously implemented the goals set in the roadmap, with the plan to be listed on BitMart in early 2022.

Source: CoinMarketCap

Avalanche (AVAX)

Cryptocurrency Avalanche is an open and programmable smart contract platform for decentralized applications.

It claims to be the fastest smart contract platform in the blockchain industry in terms of transaction completion times and has the most validators that secure the network operation of all PoS protocols. The native AVAX token secures the network, pays fees and provides the basic unit of account between several blockchains that are provided in the larger network.

The resources that a validator spends on staking are proportional to the total number of stakes made by that validator. Avalanche offers many unique benefits, such as the rewards collected by validators for validation, which are proportional to the total stakes of that validator.

Since Avalanche has no leader, there is no “richer-richer” double effect. Validators who suspend their assignments for longer will be rewarded more and also receive an incentive to stay online and work correctly, as their rewards are based on proof of availability and proof of correctness.

AVAX is a token with a maximum offering of 720 million. The speed at which the maximum limit is reached depends on the administrative policy. Validators are not charged, but burned, which increases the scarcity of AVAX.

Source: Tradingview

DeFi coin (DEFC)

Cryptocurrency DeFi Coin is the digital token that represents the DeFiCoins.io website and the DeFi Swap exchange.

By enabling buyers and sellers to trade assets directly with other market participants, the DeFi Swap Exchange ensures that no centralized third-party providers are required.

DeFi Coin actively promotes 3 functions: constant rewards, automatic liquidity pool and manual burning strategy.

Users are advised to hold DEFC tokens for the long term as transactions are taxed at 10% which discourages day trading. Perhaps most importantly, 5% of this will be distributed to existing DEFC holders, which is not much different from regular dividend payments. The remaining 5% are used to provide liquidity for decentralized stock exchange services.

The main benefit of holding DEFC is that it allows users to earn dividends through a static reward system.

Source: Tradingview

Radix

Cryptocurrency Radix promises to delight DeFi with a focus on community, security and scalability.

The community-focused platform recognizes individual developers and enables them to contribute to an online DeFi “parts library” in exchange for direct royalties when projects use Apple “components” to drive the next billion dollar DeFi application to develop.

Radix is ​​the only decentralized network in which developers can build quickly without being threatened by constant exploits and hacks. Every improvement is rewarded here and the expansion never becomes a bottleneck.

The network has unique advantages, such as 100% of all transaction fees are burned, an average of 53.8% of the token supply is blocked via POS networks, 300 million XRD tokens are transferred to stakers per year to use the eXRD / SRD- Securing bridging and cryptography enables users to quickly switch between Ethereum and Radix.

Source: CoinMarketCap

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