February 21, 2023
By Murtuza Merchant
Cryptocurrency has become a popular investment option, with many users entering the market with the primary goal of making money. Over 63% of cryptocurrency owners invest in it for this reason, and 43% use it as a way to diversify their portfolio. With nearly 22,000 cryptocurrencies available, the question arises of which one is the best investment for generating long-term income.
Why Bitcoin May Not Be the Best Cryptocurrency to Invest in for Profit
Bitcoin is the most well-known cryptocurrency, but it’s not always the best option for a profit.
The price of Bitcoin is frequently manipulated by large investors for their own gain. While its current price is around $23,500, its all-time high is $68,800, so even if it returns to that peak, the maximum return on investment is only 3x. In contrast, some cryptocurrencies have 10x to 20x potential, making them a better investment option.
Metrics for Evaluating Investment-Worthy Tokens
To identify the best cryptocurrencies to invest in, several metrics should be evaluated. These include Project Utility, Market Opportunity (Size), Community Strength, Roadmap, and Tokenomics. Three cryptocurrencies that meet these criteria are $MANA, $MNW, and $XRP.
$MANA: The Metaverse Token with Double-Digit Growth Potential
$MANA is the native token of Decentraland, a Metaverse platform that allows users to buy and sell digital real estate known as LAND. This Ethereum-powered platform is one of the most popular, and its interactive apps, peer-to-peer communication, and in-world payments make it a strong investment option. Metaverse tokens have outperformed $BTC and $ETH in January 2023 with double-digit growth. $MANA’s current market price is $0.78, but its previous all-time high is $5.85. A conservative target for $MANA is $10.
$MNW: The Supply Chain Management Token with Real-World Utility
$MNW powers Morpheus.Network, is a blockchain-based supply chain management middleware platform that helps businesses globally digitize their operations. With partnerships with leading port operators and government agencies, $MNW has shown great resilience amidst a prolonged bear run in 2022. The opening of the second round of their Masternodes program is expected to fuel a major rally in the token’s price. $MNW’s previous all-time high is $5.46, and its current market price is $1.78. The token’s real-world utilities will likely result in significant growth in the coming months.
$XRP: The Ripple Token with Resilience Amid Legal Challenges
$XRP is the native cryptocurrency of Ripple, a blockchain-based digital payment protocol that enables cross-border transactions. Despite being embroiled in a long legal battle with the SEC, Ripple has shown impressive resilience, and its position as an alternative to the SWIFT payment system has made it a popular choice for businesses. Even if $XRP breaches its all-time high of $3.84, it would result in an easy 10x return from its current price of $0.41.
How to Make Money in Crypto: Tips for Investing in the Right Tokens
While investing in cryptocurrency has its risks, evaluating metrics such as Project Utility, Market Opportunity, Community Strength, Roadmap, and Tokenomics can help identify investment-worthy cryptocurrencies. $MANA, $MNW, and $XRP are three tokens that meet these criteria and are poised for significant growth in the coming months.
About the author
Murtuza Merchant is a senior journalist and an avid follower of blockchain and cryptocurrencies.
Disclaimer: This is a news story and should not be seen as an investment advice.