4 Cryptos you might make money from in November

2020-10-31 07:00:00

Billions of dollars flow daily into the crypto-verse, as investors try to get more value from their invested buck.

Nairametrics decided to highlight crypto assets that are likely to make investors and traders smile to the bank.

The first pick is ZCash (ZEC). It’s on Nairametrics’ top pick, on the basis that it will be undergoing its first halving this November. This means that its inflation level would be reduced to about 13%.

READ: About 33% of pension funds, hedge funds now own digital assets such as Bitcoin

READ: 3 Tron investors transfer 719,000,000 cryptos

It also means that the inflation correction due to Zcash’s halving may likely give the temporary bump.

Ethereum makes the list based on the fact that investors have increased their buying pressure on the second most valuable crypto by market value, coupled with the bias that the number of Ethereum $ETH Number of Addresses Holding 0.1+ coins just reached an ATH of 3,590,870.

Previous ATH of 3,590,669 was observed on 30 October, 2020.

READ: PenCom recovers N17.51billion from defaulting employers, imposes penalties

The third pick is Cardano (ADA), on sentiments that it’s heading towards its smart contract release, sometime in November, leading to a significant amount of applications built on Cardano by this time 2021. This means that more developers will see it as an attractive medium for building their desired apps.

READ: Most profitable asset in a decade, Bitcoin up over 26,600,000%

And of course, the most valuable crypto in the crypto-verse, Bitcoin. This pick is for obvious reasons: it remains the most liquid crypto, and has been attracting high institutional interest, most recently from PayPal, which means that it might just be a matter of time before the crypto asset becomes the number one choice asset for safe haven.

Also, miners are earning fees at record highs as recent reports from Glassnode, a crypto analytic firm, reveals. Bitcoin miners’ revenue from fees (1d MA) just reached a 2-year high of 0.296.

READ: Ethereum whales on the rise, as Ether hits $420

The previous 2-year high of 0.295 was observed on 30 October, 2020.

 

Disclaimer: Nairametrics, with the help of other leading financial data providers, through their price assessments performance in percentage terms, ranked the financial assets at specific categories.

READ: Bitcoin could reach $225,000 by 2021

The objective is to give the needed insight of top-performing financial assets around the world, and should not be seen as a piece of investment advice or guide, as Nairametrics advises one to seek the services of a certified financial advisor for such services.

Therefore, Nairametrics doesn’t bear any responsibility for any trading loss you might incur as a result of using this data.

Explore the Advanced Financial Calculators on Nairametrics

empty message

empty message

empty message

empty message

empty message