The broader cryptocurrency market is slowly recovering after a massive sell-off in the first few weeks of 2022. Cryptocurrency leader Bitcoin is now trading in the green zone after falling well below its $30,000 support price in January. This reprieve has seen other cryptocurrencies rebound. This has prompted investors to look for top cryptocurrencies to buy for long-term returns.
As the year progresses, we'll explore the 5 best cottage coins to buy.
1. Lucky square (LBLOCK)
Everything about Lucky Block fits it perfectly and is one of the top cottage coins purchased to achieve massive growth. The Coin Smartchain (BSC) based protocol launched in late January 2022 and rose as much as 538% in the first three days of listing on the decentralized exchange (DEX) platform PancakeSwap. Lucky Block is up well over 1,300% to a record $0.003135.
The success of the protocol is tied to its strong use case. The Lucky Block protocol is designed to revolutionize the online gaming industry by addressing all the bottlenecks faced by traditional operators.
This includes ambiguous game models, non-inclusivity and lower odds of winning. Lucky Block offers a better, more decentralized game model that allows anyone from any part of the world to participate while enabling a transparent and fair gaming system.
The Lucky Block platform also offers investment options and charities that can donate up to 10% of upside bonuses to the less fortunate. This goes a long way in demonstrating the potential of the protocol.
Since then, Lucky Block has continued to be featured on popular cryptocurrency data aggregation sites Coinmarketcap and CoinGecko for a short period of time.
The native token LBLOCK is currently trading in the red zone, down 11.33% in the last 24 hours. After being strongly bearish for the past few days, the BEP-20 token is trading at $0.001051. However, the fully diluted market cap of $104 million suggests plenty of room for growth for investors who buy low now.
2. Solana (SOL)
Solana has been at the forefront of a series of negative stories over the past few weeks, but as the DeFi craze heats up, the popular ethereum competitor remains one of the best cryptocurrencies to buy.
Solana runs on a hybrid infrastructure of proof-of-history (PoH) and proof-of-stake (PoS) consensus algorithms and is one of the fastest smart contract platforms.
The high-performance, censorship-resistant blockchain protocol is designed to enable wider adoption of decentralized financial (DeFi) services by everyone. With a hybrid architecture, Solana is claimed to be faster, more energy efficient and more cost effective than Ether, which still relies heavily on the outdated proof-of-work (PoW) consensus protocol.
This has seen several decentralized applications (dApps) focused on DeFi, irreplaceable tokens (NFTs) and the Metaverse ecosystem deployed on the Solana blockchain.
In its mission to revolutionize the entire payment system, Solana recently partnered with Circle, the maker of the USDC stablecoin, to launch the SolanaPay platform. This will enable merchants and users to seamlessly pay with USDC using SolanaPay.
At press time, SOL is trading in the green zone, up 6.17% over the last 24 hours. This puts the current price of the governance token pegged at $105.39. The Moving Average Convergence and Divergence (MACD) indicator is currently pointing to a buy signal, making SOL one of the top cottage coins for long-term growth.
3. Caldano (ADA)
The Cardano network is a PoS blockchain protocol designed to create a more interoperable, scalable, secure and low-cost blockchain experience for users, developers and others. Cardano uses a peer-reviewed approach in the development of its protocol and is one of the best cottage coins to buy in 2022.
On one hand, Cardano is more energy efficient than Bitcoin and Ether combined, making it an ideal investment for ESG-minded investors.
Another strong indicator is the systematic approach used by the Caldano development team in fleshing out their protocol. This ensured that all updates and hard forks were vetted by expert groups, rather than deployed and attempted to save a bad hack. This has made Cardano a highly secure protocol from the start.
Despite lagging behind its competitors in the DeFi race, Cardano continues to gain widespread adoption. In a recently released monthly analysis, Native Token ADA saw a 12.24% increase in the number of wallets currently holding digital assets. This puts the wallet number at approximately 3 million, with over 1 million wallets created in the last 3 months.
The Cardano team has also partnered with Japanese company Emurgo to launch a dApp-centric tool stack to help developers launch better smart contracts on the Cardano network.
At press time, ADA is currently trading at $1.064, up 2.62% in the last 24 hours.
4. Terra (LUNA)
The Terra blockchain has been a revelation over the past year. After a remarkable performance, the stablecoin-focused smart contract platform soared into the cryptocurrency ranks and is currently ranked 9th among the highest cryptocurrency assets by market cap. This makes Terra one of the top cottage coins to buy for potential gains in the coming months.
The Terra blockchain has seen widespread adoption and was recently used by decentralized exchange (DEX) platform Benqi Finance to launch its liquidity pledge phase. This will allow the AVAX liquidity pool to operate in tandem with the Anchor protocol and Terra Money. At press time, LUNA was trading at $51.13, up 5.10% in the last 24 hours.
5. Avalanche (AVAX)
The Avalanche blockchain is another top cottage coin worth buying for long-term growth. The Avalanche network bills itself as the fastest blockchain protocol based on a finalized time metric, capable of building dApp protocols on its Layer 1 platform.
Avalanche is steadily rising in the rankings and is one of the top cryptocurrency protocols that investors are currently watching. At press time, the governance token AVAX is currently trading at $71.58, up 6.21% over the past day. This is further supported by a weekly gain of 12.15% over the past seven days.
The Avalanche blockchain was recently developed by the 0x protocol. This will enable multi-chain NFT exchanges across multiple key smart contract platforms.
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- Where to buy Caldano (ADA)