Volatility is in the nature of cryptocurrencies, and it can be both a good or a bad thing. Actually, it is volatility that makes them a popular investment asset.
Anyway, cryptocurrencies have a really difficult year in 2022, and there are many factors investors are worrying about. Besides that, there seem to be a lot of good opportunities for investing in cryptocurrencies and making a good profit out of it.
Today we are looking at ?? Popular cryptocurrencies, great for a short-term investment:
Ape Coin
Ape Coin is actually a brand new cryptocurrency, launched in 2022 by Yuga Labs. The aim of the digital currency is to power the Bored Ape Yacht Club ecosystem - the biggest NFT platform. It is also expected that ApeCoin will soon power its own products, such as games.
At the time of writing, the price of ApeCoin is $5.20 with a market cap of $1,534,857,941. Although the price of the cryptocurrency has declined, there is a belief that it could go back up, making a great investment, especially for the short-term.
Litecoin
Litecoin is another cryptocurrency whose price has declined sharply in the last months. It has also lost correlation with Bitcoin. Anyway, there is a serious possibility that Litecoin will rise up, once the other digital coins bounce back.
Sandbox (SAND)
Sandbox is a huge platform in the metaverse, gaming and NFT industries. It allows people to buy digital lands, host virtual events, trade NFTs, etc.
Although its price has dropped significantly from its all-time-high, experts believe it will soon go back up. Of course, that makes it a great asset for short-term investment.
STEPN (GMT)
STEPN is an interesting and relatively new project in the move-to-earn industry. The concept here is simple. All you have to do is install the app on your device, and you start getting rewards for running and walking.
The market of STEPN is growing, with more people embracing the platform. Because of this, there is a possibility that the price of GMT will soon go up. One of the key challenges here is the competition from apps like Step App and Sweat Coin.
Theta Network
Theta is a platform aiming to change the video distribution industry. It uses a decentralized method, so that anyone can host videos and earn money from it.
The price of Theta has crashed significantly by more than 88% from the time of its all-time-high in 2021. Anyway, the platform also launched TDROP - a platform allowing people to mint and buy NFT. Therefore, there is still a possibility for the price of the token to bounce back.
Cryptoarbi.com is an automated cryptocurrency trading platform. Keep in mind that anything written in this and other articles, is based on a personal opinion and is not financial advice.
Cryptocurrency investment and trading is a complicated process, requiring deep research and advanced knowledge. Although cryptocurrencies seem like a great investment for both long-term and short-term, never invest more than you are willing to lose and always make well-informed decisions.