To understand the crypto market, I follow the top 50 coins and try to understand why they are essential to investors. I will share my thoughts on each coin in the top 50 in today's article.
As the years pass, I understand the value of Bitcoin better—the coin with the highest risk-adjusted return. As the bull market progresses, I will make my portfolio rich in Bitcoin. ETFs, ordinals, and halving are the themes that make Bitcoin attractive nowadays.
Ethereum has always been my favorite. And when I invested, I always won. It still makes up the most significant part of my portfolio. Ethereum ETF may be approved in May. Additionally, the upgrade to reduce transaction fees for Layer 2 blockchains will be implemented in the coming months.
Tether does not inspire confidence in me. I prefer decentralized and more transparent stablecoins.
BNB was once one of my favorite coins. Its position in the US market has weakened. Nowadays, my thoughts have become neutral. Binance is still the ideal option for trading. High liquidity, low fees, and product diversity make Binance attractive.
I've always liked Solana, a low-fee and fast blockchain. It is also used widely. On the other hand, I think it's overpriced right now. Its price may rise further, but alternatives may provide better returns.
XRP has never appealed to me at all. It has high inflation and is not widely used despite its 10-year history. Also, Brad Garlinghouse does not inspire confidence in me. On the other hand, it has a loyal investor base and performed well during the bear season. Still, it is not for me.
I prefer USDC to Tether. I prefer decentralized coins like DAI and HBD over both.
Despite its long history, Cardano could not create a good user experience. Things always move slowly on the Cardano front. On the other hand, it is a coin that should be praised for decentralization. Cardano is not on my shortlist.
Avalanche's subnets make it unique. It is impressive in terms of user adaptation. If it comes to an attractive price level, I can invest.
Dogecoin does not appeal to me because PoW networks other than Bitcoin do not. Also, I prefer something different than meme coins.
Tron is a good network. It adapts quickly to trends. TRX performed well in the bear market because its price is not determined in the free market. On the other hand, considering his history with Hive, Justin Sun does not inspire confidence in me. It's not a coin that's on my radar.
Polkadot does not appeal to me due to its low level of adoption. It would be expected that a network with such a long history would have created a widely used infrastructure for interoperability by now. On the other hand, the expectation of Polkadot 2.0 may increase prices this year.
Chainlink has excellent potential in terms of its technical capabilities. Its current value is reasonable. It is a coin that I can keep in my portfolio when it comes at an affordable price.
Polygon is a network I like. It is the leader in Layer 2 technologies. They have an aggressive development strategy. They operate in every category of Layer 2. They have established many meaningful partnerships. It is one of the coins I expect to perform well in 2024.
Toncoin was a Telegram project. A different team then took over. It stands out for its speed but is with rivals in this regard. It doesn't appeal to me.
Internet Computer(ICP) is the leader of the Web3 category. They have versatile solutions that enable decentralized execution of applications on the Internet. It is a coin that I can invest in when the price is at an appropriate level.
Shiba Inu has become an ever-evolving ecosystem. In this respect, it differs from other meme coins. It can be included in the portfolio in a small proportion because meme coins have become popular again this year.
DAI passed the test in 2022 when Terra Luna crashed—one of my favorite stablecoins, along with HBD.
PoW blockchains other than Bitcoin do not interest me. Litecoin is also included in this category.
Similarly, Bitcoin Cash is a coin that is a thing of the past.
Uniswap is the largest decentralized exchange. Development activities continue uninterruptedly. I have invested in the past; I can do it again because DEFI's future is bright.
Ethereum Classic(ETC) can hold periodic rallies, but I do not believe in its long-term potential.
The Cosmos ecosystem is vital for the crypto world. IBC enables fast and secure coin transfer between Cosmos blockchains. It is optional to own Cosmos to use IBC. Shared security applications may not be enough to move Cosmos higher.
Unus Sed Leo is a centralized exchange coin. Centralized exchange coins perform relatively well in the bear market. I do not prefer it in a bull market.
Operating in the DEFI field, Injective became the star of last year. Since it is produced with the Cosmos infrastructure, it enables transactions on the digital assets of the Ethereum, Cosmos, and Solana ecosystems. When it reaches an affordable price level, investment can be made.
Optimism, a Layer 2 network, will benefit from Ethereum's upgrade in the coming months. Optimism's transaction fees will drop dramatically, and its use will become widespread. That's why its price remains strong—one of the coins on my list.
Stellar is a blockchain created for banks and financial institutions. Commercial and enterprise blockchains have yet to achieve significant adoption to date. This is why Stellar is not on my radar.
Near created a fast and scalable network using sharding. However, user adaptation did not develop at the expected pace. That's why Near is outside my area of interest for now.
The trading volume of the OKB exchange increased significantly last year. In this way, it showed a strong price performance. Centralized exchange coins do not interest me.
Aptos is the successor to Diem, which Facebook developed. Having a unique technology makes Aptos valuable. A faster blockchain compared to Solana. It does not yet have an adaptation like Solana, but the application ecosystem is developing rapidly, especially on the DEFI side.
Lido Dao became known for the liquid staking application developed on the Ethereum network. I don't want Lido to grow further, as it undermines Ethereum's decentralization.
Celestia, one of the shining stars of the Cosmos ecosystem, highlights its modular blockchain structure. It is in second place in the transaction volume of Cosmos chains. Its price has risen steadily since November 2023—one of the coins on my list.
Privacy coins have never interested me. They are now the target of negative attitudes from regulatory authorities. This situation does not change soon. That's why I stay away from Monero.
Filecoin added a vital structure to the blockchain ecosystem, such as IPFS (interplanetary file system). It has a significant place in the Web3 category, but the token economy needs to encourage investment.
Arbitrum has benefited greatly from the Ethereum Layer 2 narrative. Like Optimism, Arbitrum will benefit from Ethereum's upgrade in the coming months. It's one of the coins on my list.
ImmutableX, another Ethereum Layer 2 coin, hosts NFTs and blockchain games. It will benefit from both Layer 2 and GameFi narratives. A coin that can make a premium when purchased at an affordable price.
Hedera is a blockchain of Japanese origin and has recently made its name known with its collaboration with Hitachi. Hedera's adaptation is moderate. It can make money if entered with good timing.
Layer 1 blockchain Kaspa stands out with its high transaction capacity. On the other hand, the adaptation level is low. That's why it's not on my list.
One of Ethereum's promising Layer 2s, Mantle, highlights its modular blockchain structure. Its price has risen rapidly recently. For now, I prefer the better-known Layer 2s.
Cronos is a blockchain based on Cosmos. It stood out with its aggressive marketing policies during the 2021 bull season. Cronos is different from the projects that excite me.
Vechain appeals to the business world. The use of blockchains by companies is a slow process. For this reason, blockchains for companies and institutions do not interest me for now.
FDUSD is a cash-backed stablecoin. I prefer decentralized stablecoins.
SEI is one of the most popular coins of recent times. It has better performance than Solana in terms of processing speed and capacity. A network is included in the Cosmos ecosystem. Of course, it is not yet widely used until Solana, as it is a relatively new network. If it reaches an appropriate price level, an investment can be made.
TUSD is a traditional stablecoin. As I mentioned above, I prefer decentralized stablecoins.
Maker DAO is the organization that issues the DAI stablecoin. The maker's unit price is over $2000. This situation causes the coin to be perceived as expensive by investors. Maker DAO will make a series of innovations, including this issue. In this way, its price has tripled in recent months. If it comes to an affordable price range, it can be purchased.
Bitcoin SV is a fork of Bitcoin—a category outside my area of interest.
Thorchain is a DEX based on Cosmos. It allows exchanging cryptocurrencies in their native form. It is a coin that I have always liked. Investment can be made at an affordable price level.
The Graph operates in the field of decentralized data provision. It will benefit from possible rises in the AI and DEFI sectors—one of the coins I like.
ORDI allows defining NFTs on the Bitcoin network. Its price has increased 15 times in the last few months. Investing at current price levels is risky.
TL;DR
Coins that add value to the crypto world with their technology will be more successful in the long run. Nowadays, the majority of cryptocurrencies fall into this category. In addition to the value created by networks, timing is also critical. Those who buy the right coin with the right timing make a profit.
Evaluating the top 50 coins shows us the diversity in the crypto world. Popular investment tools of recent times are Ethereum Layer 2s and Cosmos ecosystem coins. Solana and the "Solana Killer" also attract attention. There is renewed interest in the DEFI space. GameFi and metaverse coins are in the background for now.
Bitcoin rose last year. We see Ethereum being strong this year. A correction is expected in the first half of the year. We can see altcoins rising rapidly towards the end of the year. In a possible rise, those who invest in growing networks, not slowly dying networks, will gain significant returns. I am already preparing for those days.
Thank you for reading.
