Many investors are being rescued from the almost inevitable volatility of the crypto market by stablecoins. Investors are buying stablecoins every day as they provide better security against crypto volatility. Meanwhile, there has been a significant recovery in crypto markets in recent days. This pushes investors to look for altcoin projects to invest in. Experts have selected 5 stablecoins and 5 altcoins that can be added to portfolios.
Top 5 stablecoins to add to portfolio
Tether (USDT)
Tether was among the first stablecoins to hit the market. A cryptocurrency based on the Bitcoin Blockchain was first introduced as Real Coin in 2014. Algorand, EOS, OMG, Tron, Bitcoin, Ethereum and Tether Blockchains are currently supported by Tether. Tether wants to combine the advantages of cryptocurrency tokens. It also ensures the security of fiat money.
Tether is priced at $1.00 with a market cap of $66.5 billion and 24-hour trading volume up 43.79%. It currently stands at $37.6 billion. At the same time, the circulating supply is approximately 66,484,835,812 USDT, according to CoinMarketCap.
USD Coin (USDC)
USDC calls itself a “digital dollar”. Both money and short-term US treasuries are used to secure it. This makes it possible for them to offer a 1:1 conversion. It also allows you to convert any USDC you have to US dollars. Many US financial institutions are responsible for oversight of the reserves. This is also audited monthly to ensure transparency.
The price of USD Coin at the time of writing is $0.9999. Its market cap was $43 billion and 24-hour trading volume increased by 15.67%. It currently stands at $3.4 billion. At the same time, the circulating supply is approximately 43,210,272,437 USDC, according to CoinMarketCap.
Binance (BUSD)
cryptocoin.comAs you follow, BUSD was launched in 2019. A 1:1 backed stablecoin. It was founded by Paxos and Binance, a cryptocurrency financial institution. Paxos, like other fiat-backed stablecoins, has as many reserves as BUSD tokens in circulation. One of its many advantages is that BUSD can be used in almost any situation where the ERC-20 Ethereum platform is supported.
The price of Binance USD at the time of this writing is $1.00. The altcoin market cap is $16 billion. Meanwhile, 24-hour trading volume is up 51.11 percent and currently stands at $11.4 billion. At the same time, the circulating supply is about 16,336,869,437 BUSD, according to CoinMarketCap.
DAI (DAI)
DAI was introduced by MakerDAO. A stablecoin that protects against censorship as it lacks a central issuing authority like other stablecoins. DAI uses collateralized debt in the form of Ethereum (ETH). However, it is the native cryptocurrency of the Ethereum Blockchain and is pegged to the US dollar. Dai is one of the best performing stablecoins.
The altcoin has a market cap of $8.5 billion. At the same time, the circulating supply is approximately 5,856,977,464 DAI, according to CoinMarketCap.
Pax Dollar (USDP)
Paxos’ website advertises the Pax Dollar as ‘the world’s leading regulated stablecoin’. The name of the cryptocurrency has been changed by Paxos to more closely reflect the name and code of the US dollar.
Pax Dollar is priced at $0.9969 at the time of this writing. The altcoin market cap is $875 million. Meanwhile, 24-hour trading volume increased 0.52% and is now $1.9 million. At the same time, the circulating supply is approximately 878,084,065 USDP, according to CoinMarketCap.
Top 5 altcoins to add to portfolio
Solana (LEFT) is in the first place
Solana was first designed in 2017. But it took several years to fully develop before its official launch in 2020. As a result of its significantly higher transaction speeds and lower fees, it was immediately seen as an ‘Ethereum Killer’. Solana’s Proof-of-History (PoH) consensus mechanism sets it apart from the rest. Solana’s price at the time of this writing is $25.31. Its market cap is $9.4 billion.
Ripple (XRP) comes in second place
According to experts, Ripple (XRP) is one of the best altcoin projects to buy in 2023. The project has arguably one of the best use cases among all alternative cryptos. Thanks to Ripple, international payments can now be made with less money. The ‘bankers’ cryptocurrency’, known as XRP, aims to replace SWIFT as the de facto standard for international money transfers. The price of XRP at the time of this writing is $0.4102. The market cap of the altcoin is $20.852 billion.
Cardano (ADA) is also on the list
Cardano is a cryptocurrency that has seen a significant increase in value over time. Cardano’s ability to reduce transaction times and energy use is particularly noteworthy. Therefore, the altcoin is among the top performing cryptos in 2023. ADA’s price at the time of this writing is $0.3777 and its market cap is $13 billion.
Popular meme coin Shiba Inu (SHIB)
SHIB is a decentralized, community-building cryptocurrency created as part of the Shiba Inu ecosystem. Like many other cryptocurrencies, Shiba Inu is built on the Ethereum Blockchain. The price of the Shiba Inu at the time of this writing is $0.00001219 and its market capitalization is $6.7 billion.
Finally, the metaverse coin Gala Games (GALA)
Gala Games is a play-to-earn gaming platform built on Blockchain. However, it does allow users to earn GALA by reaching in-game milestones. Also, Non-Fungible Tokens (NFTs) are used in the game or in non-game-based trades. At the time of this writing, Gala has a price of $0.04867 and a market capitalization of $339 million.
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