2023-09-18
Cryptocurrency market in September 2023
comes with uncertainty. This month Bitcoin is unable to break through $30,000.
It has pressured altcoin prices to drop.
This best strategy to do for this month
is to hold cash. The best cryptocurrencies to invest in this month are
the most stable ones that have low volatility including Ethereum, Chainlink,
and Optimism.
1. Ethereum
Etherum has the most users and the most
developers. It has always been the most trusted and the most popular smart
contract blockchain. Investing your money in Ethereum will make your investment
safe at the time of market uncertainty.
Ethereum still has bright future, new
features will be launched in the future such as Account Abstraction, Proto-danksharding
that developers are trying increase Ethereum’s TPS to 100k.
Ethereum has a strong support line at
$1,200. ETH current price is $1,630. Price prediction for ETH in the next bull
market is $5,000.
2. Chainlink
Most of blockchains and dApps use
Oracle service from Chainlink. Oracle brings off-chain data on-chain, Oracle
powers all the DeFi apps. Chainlink is the clear winner in Oracle token.
Another product Chainlink offers is interoperability
protocol. It facilitates cross-chain transfers by enable blockchains to connect
with each other.
3. Optimism
Optimism is competing with Cosmos.
Cosmos SDK is an open-source software that allow crypto projects to create and
design their own blockchains. Many famous blockchains were built using Cosmos
SDK such as Terra Luna (LUNC), Sei Network, and dYdX.
Optimism is a layer 2 scaling solution
that help Ethereum increase throughput by off-loading Ethereum transactions to
the layer 2 blockchain.
Optimism allows developers to use its source-code
to build their own layer 2. It allows crypto projects to create their own
blockchains with the functionality to be interoperable with Ethereum mainnet.
Optimism called this “OP Stack”.
OP Stack currently powered Base layer 2
from Coinbase, opBNB, and Celo. OP Stack is a development tool similar to
Cosmos SDK. Base currently has $373 million TVL.
Ethereum, Chainlink, and Optimism have
strong trading volume, they don't easily lose hype. Ethereum, Chainlink, and Optimism are suitable for diversifying your portfolio at the
time many cryptocurrency prices are declining.
