Here are three top picks if you’re looking to invest in crypto.
Lucky Block (LBLOCK-USD) offers tremendous price potential.
Decentraland (MANA-USD) is a great grab for exposure to the metaverse.
Polkadot (DOT-USD) is an innovative protocol that can change the way the crypto space operates.
Cryptocurrencies are becoming mainstream, with many looking for top picks to buy. That said, there are many investors who may not want anything to do with this sector.
After all, these digital tokens are highly volatile. Sure, cryptocurrencies provide innovative technological solutions that could re-shape how business is done in the future. However, right now, this sector is still in its infancy.
That said, there’s reason why investors are taking a hard look at the crypto sector right now to identify top picks. Valued at $1.75 trillion, the world of cryptocurrencies has brought in a tremendous amount of capital. For growth investors, the returns we’ve seen in recent years are truly incredible.
So, what to do? Well, for those looking to add a small amount of exposure to this sector, there are a lot of options. Thousands of projects are out there, looking for capital.
Here are three projects I’ve got my eye on right now I think are top picks worth diving into.
Lucky Block (LBLOCK)
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Lucky Block (LBLOCK-USD) is a blockchain-based lottery platform which aims to leverage decentralized technology to enhance the experience provided by legacy lottery systems. That, in and of itself, is an intriguing niche area of focus which caught my attention.
LBLOCK is the native token of Lucky Block. It is an integral part of the platform and is used to purchase lotto tickets and pay transaction fees. Also, winners can instantly receive their prizes as jackpots are paid in this token.
The Lucky Block roadmap has one feature that makes it stand out — there are zero jurisdictional limitations regarding who can play the lottery games. This is in contrast to the highly-regulated centralized sector, which varies from state to state. For U.S. investors, there’s a lot of reason to like the thesis behind this token.
This early-stage project was launched on the Pancakeswap exchange in late January this year. Accordingly, this is a project that has yet to prove itself. However, we’ve seen incredible capital flows into LBLOCK in the past, with early investors excited about this project’s potential.
Personally, I think Lucky Block is worth a look, as this token approaches its ICO price. For those looking for a higher-risk, higher-upside pick, this is an exciting project to consider.
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Decentraland (MANA-USD) is one of the leading blockchain-based metaverse platforms out there. The 3D virtual world Decentraland provides allows users to develop characters, build real estate, buy land and communicate with other players. In-game items can be traded on the Decentraland Marketplace, creating what’s essentially a fully-functioning economy.
For investors bullish on the metaverse, this is one project to keep an eye on.
Currently, Decentraland sits in 38th place in the crypto rankings my market capitalization, with a total market cap of $2.8 billion, at the time of writing. This project has generated incredible interest last year as everything metaverse soared, but has since come down to earth.
Is now the time to buy this metaverse token on the dip? Perhaps. Of course, like its metaverse peers, there appears to be significant downside selling pressure. Anything growth related is getting hit hard, as investors look to de-risk their portfolios.
However, for those taking a long-term view of the metaverse, this is a token that’s starting to appear attractive. This token is now down nearly 75% from its peak, with impressive user numbers and engagement metrics.
Now, user growth isn’t what it was, and investors have flocked to other areas of the crypto market for growth. This makes Decentraland an interesting pick for growth investors who want to bet on a rebound. For now, this token is one of the top picks on my watch list, and I’ll be watching to see if these metrics improve over the medium-term before jumping in.
Polkadot (DOT-USD) is an innovative protocol, aimed at solving the ever-prescient interoperability problem in the crypto world. Essentially, blockchains don’t talk to each other. This makes sharing data across blockchains near-impossible for most platforms.
However, Polkadot has offered what it calls parachains, which helps to solve this issue. Via parachains, various projects can operate on their own parallel blockchain, utilizing Polkadot’s main network for security and scaling. This allows for faster transaction times, and improved security, something many projects require.
Accordingly, Polkadot has seen a tremendous amount of developer interest. Cross-chain solutions are becoming increasingly important. Accordingly, many view Polkadot as one of the scaling solutions of the future.
Some additional recent news has made Polkadot appear compelling to investors. Anchor, the popular DeFi protocol of Terra (LUNA-USD), is coming to Polkadot’s Acala network. This partnership comes as Anchor grows onto new blockchains, and Polkadot looks forward to expanding its decentralized finance adoption.
Thus, for investors looking for growth, these three top picks look compelling right now. Right now, these three cryptos are on my watch list. However, I’ll be monitoring these, as the crypto market continues to evolve from here.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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