Four Cryptocurrencies Worth Keeping an Eye on in December
For cryptocurrency investors, November has been a difficult month. Bitcoin reached an all-time high at the start of the month but dropped by nearly 20% in the following weeks, with many other cryptocurrencies following suit. According to BigONE, several factors have impacted the cryptocurrency market, including the release of new tax filing rules in the US, the new COVID variant strains, and regulatory measures issued around the world against cryptocurrencies. Furthermore, the cryptocurrency market, like the stock market, is inherently volatile. When an all-time high occurs, it is usually followed by a corrective low, which is a natural occurrence.
Based on experience, BigONE anticipates some volatility in December, particularly in decentralized financial investments, particularly because new regulations may have a significant impact. Still investors must remain rational and avoid panic selling. Some investors believe more optimistically that if cryptocurrency prices continue to fall, it is an excellent time to buy the dip. Therefore, below are four cryptocurrencies that are worthy of your attention this month.
We recently covered a wide range of topics related to metaverse tokens, which are becoming increasingly popular in the cryptocurrency world. For example, according to CoinMarketCap data, SANDBOX (SAND) and Decentraland (MANA) have both increased in value by more than 500% since the beginning of October, while Enjin (ENJ) has increased by nearly 170%.
Before investing in such hot projects, it is critical to do thorough research, especially in the cryptocurrency field, where speculative interest is high. The Enjin ecosystem is an intriguing metaverse project from Enjinstarter, that allows users to create and trade non-fungible tokens (NFTs). NFT is a one-of-a-kind digital collectible in which ownership information is encoded in tokens. NFT enables users to alter the way they own things in the metaverse.
The metaverse is still in its early stages, and it is unclear how it will develop in the future. However, if it truly succeeds, NFTs will become a key component. Enjin enables people to easily store and trade any NFT they own, regardless of which metaverse or game the NFT was originally purchased in. As a result, both the metaverse and the NFTs are currently major investment hotspots, which is a key reason why BigONE believes Enjin is worthy of attention.
Chiliz is a cryptocurrency geared toward sports fans. Fans can participate in their favorite teams by purchasing fan tokens through its socios.com platform. In addition, token holders can vote on and participate in decisions regarding celebration songs, captain’s armbands, and other social media activities. They can also get VIP behind-the-scenes access, autographed souvenirs, and meet-and-greet experiences.
Chiliz is intriguing because it introduces a new NFT airdrop mode. The first NFT airdrop took place during a football game between AC Milan and Rome. Live NFTs are created based on game actions, and these limited edition NFTs have proven to be extremely popular. Another reason BigONE believes Chiliz is deserving of attention is because as cryptocurrency exchanges enter the field of sports sponsorship, more people are becoming interested in cryptocurrencies.
Another hotly debated topic in the cryptocurrency market is Web 3.0, which is another trend worth attention from an investor perspective. Web 3.0 is the general term for the next generation of the decentralized web and does not rely on current third-party internet companies. Numerous Web 3.0 projects aim to decentralize the way we store, share, and monetize data.
Livepeer is a decentralized video streaming network that has recently performed well. Participants in the network can earn LPT tokens by donating unused computer processing power. Livepeer uses this computer network to reformat videos for various devices. As a result, it does not require costly infrastructure to provide a cheaper and more reliable video streaming method, truly the definition of a Web 3.0 network!
Elrond is one of several smart contract cryptocurrencies that have received considerable attention this year as a competitor to the Ethereum network. It has a high transaction speed and low cost, and it has piqued the interest of numerous other projects. Elrond recently announced a liquidity incentive plan worth $1.29 billion for its newly launched decentralized exchange Maiar DEX DeFi platform, which provides generous rewards for token holders. With fierce competition among various blockchains, Elrond’s move elevates it to the level of cryptocurrency worthy of attention in December.
Taking a prudent investment attitude
According to CoinMarketCap data, there are currently over 15,000 cryptocurrencies in circulation. However, many of these cryptocurrencies are disappearing from the market daily for a variety of reasons. Investing in cryptocurrency can yield extraordinary returns, but it also carries risks, as do all investments. This is why BigONE advises you to only invest in funds that you can afford to lose, and to make sure that your crypto assets are part of your overall investment portfolio. You should also spend as much time researching and learning about the cryptocurrency you intend to invest in before making any investment decisions.
