BlogTop 5 Coins to Buy in August 2022

Top 5 Coins to Buy in August 2022

Top 5 coins to buy, in the next few months, we’ll be having major catalysts for some old coins. In my opinion, could send them pretty high even though we could still remain in a bear market and that’s what this opinion article is all about. 

Coin no 5

Let’s start off with Ethereum as they have a very major upcoming event which is the merge. Now the merge as Ethereum is going to transition to proof of stake. It is by far the largest upgrade they have ever received there is a ton of hype behind the Ethereum and I do believe as we move up leading towards the merge that hype will turn into price increases. 

If you look at Ethereum against the bitcoin chart it has just completely destroyed bitcoin in gains. Ethereum is very very clearly outperforming and it doesn’t look like to me it’s going to stop anytime soon. So yeah the merge right now is scheduled for September the 19th and I do believe that until that does happen Ethereum has a major major catalyst to continue going up and to continue outperforming major coins like bitcoin etc. So I’m pretty bullish on Ethereum now in my opinion another good way to take advantage of Ethereum possibly moving up is to invest in tokens around Ethereum’s infrastructure. 

Coin no 4

From the list of top 5 coins to buy the fourth coin is lido. Its biggest token around Ethereum infrastructure so far is lido. Lido is the go-to place to stake your Ethereum and right now they have over 7 billion us dollars under their assets. So this is all money staked by users on the lido platform and yeah if you guys don’t really understand what lido is still essentially people who don’t want to run their own Ethereum node can just send their money to lido and lido will stake their Ethereum for them. So you have to do any work and they can still get some pretty decent rewards. Now lido by far has more eth staked on it than any other protocol out there and in my opinion, is once again a central part of Ethereum’s infrastructure as we speak. So I do think that you know with the hype and with the price rise in Ethereum, I do think that should rub off on lido quite a lot. Especially due to the fact that it is a much smaller project and if you go to the max price range you can see that as Ethereum has rolled basically over the last month or so lido has completely exploded going from under 50 cents all the way to now just about $2.30. I do think once again leading up to the merge we will continue to see this perform pretty well as long as Ethereum goes up once again not financial advice but just my honest opinion.

So with Ethereum moving to proof of stake being the most hyped thing in crypto right now and with lido literally being at the forefront, you can see at the cornmarket cap lido staked Ethereum at number 14 with a seven billion years dollar market cap with lido being at the forefront of that transition. I do think it’s quite logical that you know price movements for Ethereum to the upside will rub off on that lied over.

Coin no 3

With the theme of Ethereum we have a rocket pool which is essentially like lido but much smaller and with different features that I think make it a pretty attractive investment as well. So essentially rocket pools are just another Ethereum staking protocol the main difference is that this is fully decentralized. Lido does have some centralizing factors which you know does make it much easier to use etc but for full decentralized crypto staking rocket pool is the place to go.

I do think the fact that you know this being fully decentralized will make it pretty valuable. Right now it has just about 1,343 note operators which are a massive massive amount of guys and over 200,000 Ethereum staked. Once again this is a much much smaller project sitting at only 360 million us dollars. This is also not available on any major crypto exchanges i do think if this has ever added to something like finance which if it does start to go up in price as Ethereum gets closer to the merge could happen it could potentially give this a nice boost in price. So once again you know this just speculation from my side anything can happen but yeah I do also like rocket pool for the same reasons I do like lidar rocket pool however once again it is the more risky investment and is potentially the more lucrative one due to it having a smaller market cap.

Coin no 2

From the list of Top 5 coins to Buy Cardano is at no 2. Cardano ADA Vasil Hard Fork was delayed and somehow it affects the rising price of Cardano I must say it’s the best time to add some ADA to your portfolio am long-term bullish on Cardano. I think you will be able to get ada below $0.40 and even under 45 cents will be a good pick for the short term if you can hold its really good for the long term so keep an eye on that.

Read: Crypto is ready for a Bull Run in a recession? Here’s why

Coin no 1

Top 5 coins to buy: Now with Ethereum transitioning from proof of work to proof of stake, there are still tons and tons of miners that you know bought hardware they like proof of work and they do want to mine something. Now I do think that is a massive massive catalyst for Ethereum classic which is Ethereum’s counterpart that is remaining fully proof of work. Just like other Ethereum tokens, this thing has gone absolutely crazy in the short term and I do reckon leading up to the proof of stake merge that Ethereum does have more on more money more and more miners, etc will start moving to this chain as an alternative.

Now just for some history for those of you who weren’t around I actually was around for this thing right here I do remember when the dow got hacked. The Ethereum classic chain was born way back in I believe like 2015 or 2016 somewhere very very early Ethereum essentially built a major application on top of their platform called the DAO it had a ton of people’s money in it then got hacked so the Ethereum team decided to fork the Ethereum chain to return all the funds stolen.

Well, these guys disagreed they said you know code is law Ethereum must remain unstoppable and decentralized. So these guys did not go along with the new fork and instead, they carried on with the Ethereum original chain. A pretty cool idea but since then they’ve also branched out to a completely different roadmap to Ethereum so these guys are sticking to proof of work. Now in the very very long term, I honestly doubt this chain will amount to much however you know for a nice short-term trade whilst this whole merge thing is going on. I do think this could potentially be a pretty good play. I’m very happy that they are finally moving forward and delivering on things that we’ve been waiting for for years. Now hopefully soon after the merge, we’ll have some very nice layer twos functioning on Ethereum and we’ll also have sharding to allow for true scalability.

Related: Ethereum Classic Pump reason? When should you sell?

Disclaimer

We just provide educational content and for information purposes only don’t take our opinion as a financial advice DYOR before any investment.

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