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These top cryptocurrencies are some of the best investment assets to buy during the inflation session
The crypto market has been experiencing significant downturns for the past several months. Since January 2022, the values of major cryptocurrencies have plunged and the digital asset market continues to lose more value as it continuously suffers due to the brutal macroeconomic factors that rage across the financial and economic markets. Excerpts believe that the fear and panic around the recession and fierce headwinds caused by inflation are the major triggers that caused some of the top cryptocurrencies in the market to plunge. But as history repeats, investors keep returning back to cryptocurrencies to gain a safe hedge against cryptocurrencies. Even though investors purchase cryptocurrencies, most people treat them as long-term investment assets. Volatility makes cryptocurrency a risky investment, and the market’s recent freefall definitely confirms it. But digital assets are still important for investment portfolios. Here, we have listed some of the top cryptocurrencies with lower risks that you can buy during this inflation session.
Even though the Ethereum prices are currently suffering due to various macroeconomic reasons, experts believe that the crypto might soon overtake Bitcoin as the market is quite excited about the launch of the ETH 2.0 upgrade. Unlike other cryptocurrencies, Ether does not have a fixed supply cap. But it does have an inflation cap at 18 million new coins per year and a fixed inflation rate that issues 5 new coins for every block mined.
Binance is the world’s largest cryptocurrency exchange that hosts a variety of trading functions. The firm burns its native BNB token every quarter through buybacks utilizing its operational profits and BNB reserves. As this burning continues, the value of its tokens is expected to significantly rise in the coming years. This makes it a perfect hedge against inflation.
Avalanche is a blockchain platform designed to support decentralized applications, that use self-executing smart contracts to offer services on the network, but is different from other cryptos due to its lightning transaction speed and its distinctive burning protocol. The platform is created to maximize investments through its burning protocol, which aims to boost the price of its native token, aiding its value in the long run.
XRP is a good investment during inflation because while mining the token, investors need to pay fees for every transaction. These charges are not sent to any central authority or even as a reward to validators. Instead, the developers burn them, making them deflationary coins.
Bitcoin Cash’s supply is capped at 21 million coins. Crypto also reduces the rate of mining by almost 50% every four years, which indicates that its circulating supply also keeps decreasing. Due to coin burns, its market value has witnessed a price hike.
EOS focuses on making blockchain operations more efficient and easier to handle. Its network uses a delegated proof-of-stake consensus mechanism, which deploys delegates for its governing protocol. EOS can also burn its tokens, given its community proposes to do so to curb inflation.
Pax Gold is a stablecoin whose value is directly linked to the price of gold. The price of the coin moves based on how gold prices move in the mainstream market. And as a fact known to all, there is no other hedge, against gold, which is better than gold. PAXG enables investors to get exposure to invaluable assets by simply buying this decentralized crypto asset.
Chainlink uses a decentralized oracle network to facilitate secure interactions between blockchain networks and external data feeds, events, and payment methods. Chainlink is a popular choice for the new inflation index being built by a decentralized finance company that serves as an alternative to the consumer price index.
CRO is the native token of the crypto.com platform. Before the launch of this platform, the developers burnt nearly 70 billion CROs, estimating around US$10 billion. This integrating burning protocol makes it an efficient deflationary token and favorable crypto to buy during inflation.
Polygon introduced its version of the Ethereum Hardfork, which makes its pricing more predictable, eventually making MATIC deflationary by burning coins. Its purpose is to avoid over-flooding the market with token circulation, eventually improving the overall value of the token.