5 Blue-Chip Cryptos To Buy With Strong Positive Outlook

  • Bitcoin (BTC-USD) – Holds almost half of the total crypto market capitalization
  • Ethereum (ETH-USD) — The most widely used Layer 1 network
  • Binance (BNB-USD) – Easily leads crypto exchanges in volume
  • USD Coin (USDC-USD) — One of the most transparent stablecoins
  • Uniswap (UNI-USD)– Leading Decentralized Exchange (DEX) and Decentralized Autonomous Organization (DAO) by Market Cap

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Crypto investing can be a real headache. Investors must first understand the blockchain and the different types of projects that developers can build on it. Then there is the registration barrier; investors need to find the exchanges and portfolios that are right for them. Finally, there are thousands of digital currencies to choose from once everything else is ready. If you want to cut out the noise, start by researching the best prime cryptos to buy in a sea of ​​duds.

It’s pretty easy to get caught up trying to find a 100x token on the verge of a breakout. However, one of the best strategies is, as is the case with stocks, to focus on blue chip names.

In an industry like crypto, projects go through a boom and bust cycle with incredible frequency. Unestablished ones can wither away very quickly.

Instead, consider these cryptos to invest in the gold standard of digital assets:

Blue-Chip cryptos to buy: Bitcoin (BTC-USD)

Bitcoin (BTC-USD) on US dollar banknotes close-up, Marathon Digital (MARA) is a major bitcoin miner

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Kicking off is the crème de la crème of crypto. The industry would not exist as it does today without Bitcoin. BTC is the end of all digital assets, truly omnipotent in its ability to influence the price of all other cryptocurrencies.

In an industry with a market capitalization of around $2 trillion, it’s amazing how influential Bitcoin is. The #1 currency in the market holds nearly $800 billion in market capitalization, which is around 40% of the entire market. This massive heft leads Bitcoin’s price swings to influence all other cryptos, which means that on its down days, Bitcoin can throw the entire market into a correction.

This is largely thanks to the fact that Bitcoin was one of the first cryptocurrencies to gain widespread adoption. He is over 13 years old and represents transactional cryptocurrency in its purest form. If ever there were to be a single adopted crypto in the world, there is certainly an argument for Bitcoin. El Salvador would probably be happy to argue that case.

Ethereum (ETH-USD)

Another stylized version of the Ethereum logo

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While Bitcoin is certainly one of the oldest cryptocurrencies, Ethereum is not far behind. In a market that has only really entered the mainstream in the last year and a half, Ethereum is approaching its eighth birthday. During this time, the network laid the groundwork to become the largest Layer 1 protocol in the world.

Ethereum hosts over 4,000 decentralized applications (dapps) on its platform. That easily makes it one of the biggest of its kind, at least in terms of total offerings. But the network can also boast of having the highest total value locked (TVL) of all the channels.

TVL is a popular metric that measures the amount of locked assets on a channel; these assets support DeFi objectives, such as liquidity generation. A high TVL means a lot of money is flowing through a protocol, and Ethereum certainly has that. It holds up $113 billion in TVL, nearly four times that of any other competitor. Of course, this number is quite high because the network hosts approximately 500,000 active users in a given month.

Blue-Chip cryptos to buy: Binance (BNB-USD)

Binance (BNB-USD) logo displayed on a pile of altcoins

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Binance is another easy to buy crypto given its massive dominance. The largest crypto exchange in the world by volume, Binance is only getting bigger.

In the past 24 hours, Binance processed approximately $19 billion worth of crypto transactions. The second largest stock exchange, Coinbase (NASDAQ:PIECE OF MONEY), handled just over $3 billion. Clearly, Binance is the top choice in the world when it comes to trading digital money.

Like CoinDesk reports, Binance continues to grow. Over the past month, the exchange has accounted for 30% of the total spot crypto trading market. This puts it just below its one-month high of 34%, reached in November 2021 when cryptos were at their peak. Given that the crypto is only recently emerging from its slump, it will be interesting to see if Binance breaks this all-time high.

USD Coin (USDC-USD)

Coin cryptocurrency symbol USD (USDC).  3d illustration of cryptocurrency coin

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The stablecoin industry is very competitive, but USD Coin has become one of the clearest cryptos to buy in this sector. Launched by Coinbase and the crypto payment company Circlethe $1-pegged token is the second-largest stablecoin by market capitalization, worth nearly $50 billion.

Stablecoins are popular investments for DeFi devotees, who mine token liquidity in pairs with other cryptocurrencies. This business can prove quite lucrative, and as one of the most popular stablecoins, there are plenty of options to earn passively using USD Coin.

But perhaps the most interesting thing about the project is its transparency. Many other stablecoins have come under scrutiny for not clarifying the nature of the reservations underlying them. This can lead to mistrust – and even volatility – which could potentially unpeg a stablecoin and send it crashing. USD Coin avoids the problem entirely by publishing monthly reports clarifying exactly where its underlying reservations come from.

Blue-Chip cryptos to buy: Uniswap (UNI-USD)

A conceptual image for the Uniswap (UNI) token.

Source: Shutterstock

Uniswap is one of the best cryptos to buy as it is a king of crypto exchanges in its own right. Although not close in size to Binance, it is the largest decentralized exchange in the world.

Decentralized exchanges eliminate third parties, allowing users to trade in a peer-to-peer vacuum. They eliminate the need for third-party custodians and the regulatory bureaucracy that centralized exchanges like Binance have to endure. These are very attractive options for those looking for the cheapest trades and the most lucrative staking and liquidity opportunities.

Uniswap is the largest in this subsector; in the past 24 hours, it has seen $1.4 billion in assets traded on its platform. And the best part of the network is that it’s completely user-driven. The UNI token is a DAO token, which means anyone who owns the crypto can vote on community proposals. This directly democratic model ensures that holders steer exactly where the platform is headed. This makes it one of the most convenient investment opportunities available.

As of the date of publication, Brenden Rearick has not held (directly or indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com publishing guidelines.

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