The crypto market is still reeling from the impact of a slow start to the year. The nascent industry has slumped more than 30% from its all-time-high (ATH) of $2.92 trillion in November 2021. However, cryptocurrencies are still the most talked-about asset classes in the investing space. This has led several investors to search for the next cryptocurrency to explode besides established names like Bitcoin and Ethereum.
We have discussed below some of the best crypto you can add to your portfolio for long term returns.
1. Lucky Block (LBLOCK)
If you are on the lookout for the next cryptocurrency to explode, then Lucky Block should be a top choice for you. The blockchain protocol’s use case is the most exciting part about it.
Lucky Block is on a mission to revolutionise the online gambling industry. To do this, Lucky Block uses blockchain technology which facilitates inclusiveness through decentralisation, transparency and increases fairness for players to get returns on their capital.
Lucky Block is also based on the Binance Smart Chain (BSC) network, which comes with the added advantage of high throughput and low fees in costs.
Lucky Block is an outstanding project, and the crypto lottery platform has kicked off to a great start. Making an official launch on popular decentralised exchange (DEX) platform PancakeSwap in the tail-end of January, Lucky Block grew over 1,300% in less than a week from its presale price of $0.000015.
The BSC-based protocol has continued to steam-roll into mainstream crypto cycles and has since been listed on crypto data aggregator websites Coinmarketcap and CoinGecko and popular DEX aggregator website Dextools.
LBLOCK is also eyeing centralised crypto exchanges like Binance, Crypto.com, FTX, OKEx, and Kucoin. At press time, LBLOCK token is trading at $0.002127, up 29.46% in the last 24 hours.
The moving average convergence and divergence (MACD) point to a strong buy signal, and the relative strength index (RSI) figure of 72.96 shows that LBLOCK is trading in the overbought region.
2. Decentraland (MANA)
The Ethereum-based virtual reality platform is an exciting project and one of the next cryptocurrency to explode this year. A first mover in the rapidly expanding Metaverse ecosystem, Decentraland has been a revelation in the past 12 months.
Featuring a decentralised autonomous organisation (DAO) and a gaming platform, Decentral Games, Decentraland also enables users to create, share, and monetise content and applications. Virtual plots of lands also add to an already impressive portfolio.
Decentraland aims to allow users to enjoy immersive spatial experiences and has been hugely successful so far. The protocol has seen its user count shoot up 3,300% between the periods of December 2020 and December 2021.
Decentraland has become a strong pull to several legacy-backed businesses, with Samsung making a stake in the protocol. With strong use cases, Decentraland has remarkable onboarding figures for protocols. One of such is Meta Lite Bar which is currently gearing up to integrate with the Metaverse giant.
At press time, governance token MANA is enjoying the best of a bull market and is up 8.32% in the past day while trading at $3.31. The MACD also points to a buy signal as the RSI pushes upwards to the overbought region at 64.61.
3. Cardano (ADA)
Cardano has remained a fascinating project for many and is definitely one of the next cryptocurrency to explode as the year progresses. The protocol’s Methodius approach to solving the belying challenges surrounding blockchain platforms have earned the respect of both advocates and critics alike.
Still under heavy development, Cardano is a promising proof-of-stake (PoS) and is notable for its epoch randomised verification process. Alongside this, Cardano is energy-efficient and is expected to be low-cost while delivering optimum throughput.
Cardano has been seeing massive adoption of its native token ADA in the past year despite a dismal price performance. According to a recent tweet, Cardano’s on-chain activities have shot up, with the total monthly value locked (TVL) up 9.037% and pushing in over $75 million into the ADA ecosystem.
Adding to an impressive track record, the number of ADA wallet users has also surged by 12.24% to over 3 million unique wallet holders in the last three months.
ADA is gearing for a bullish and has posted a modest upswing in the past day. ADA is trading at $1.173, up 3.22% so far.
4. Polygon (MATIC)
Polygon has remained a darling for several crypto investors. The scaling solution has continued to rack up significant interest across the rapidly expanding blockchain ecosystem.
This has seen several decentralised applications (dApps) launch on the layer-2 protocol due to higher scalability and low cost. This makes Polygon’s MATIC one of the next cryptocurrency to explode as the world further embraces blockchain-based assets.
Polygon has been on a tear, and its fundamentals are exciting. The recent partnership with Web3 platform Moralis has yielded remarkable dividends as over 11,000 teams are tapping into the development platform.
Also, non-fungible token (NFT)-focused art platform ArtFi has also launched on Polygon.
MATIC is catching some tailwinds and is up 3.66% in the past day. The ERC-20 token is trading at $1.783.
5. Fantom (FTM)
Fantom blockchain may not rank high among the most notable decentralised finance (DeFi) protocols, but the Ethereum rival has been making interesting progress in its solution.
Using a unique verification protocol called Tangle, Fantom is a high-performance DeFi protocol. So far, over 80 dApps are actively building on the Fantom ecosystem, pointing to a robust and thriving ecosystem.
Fundamental-wise, the Fantom blockchain has kept in beat with competitors and recently integrated with crypto tax reporting platform ZenLedger.
This way, Fantom users will easily calculate their taxes. Popular crypto lending platform Nexo has also recently integrated the FTM token to its services. At press time, FTM is trading at $2.33, up 10.22% in the past day.