SHIB is also on the List! – AmkNews.com

Some altcoins on Ethereum, the world’s second largest network, seem to be giving a “buy” signal. Cryptocurrency analyst Dhirendra Kumar has listed 7 altcoins for those who want to diversify their portfolio beyond Bitcoin. Also on the list is the popular meme coin Shiba Inu (SHIB). Here are the details…

Here are 7 altcoins including SHIB you can look into to diversify your portfolio

Tether (USDT)

Tether is one of the oldest and most important stablecoins developed on the Ethereum network. With a market value of 70 billion dollars, the project has fixed its price in US dollars. Much of this is backed by cash reserves. Tether protects exposure to cryptocurrencies. It is also considered a good strategy to hedge against the volatile crypto market. It’s worth noting, though, that some people in the industry are concerned about Tether’s reserve.

Shiba Inu (SHIB)

Launched as a meme coin, Shiba Inu runs on the Ethereum Blockchain. It is widely seen as an alternative to Dogecoin. Although the meme coin was not very stable, it showed a serious rise in its first year. AmkNews.com As we have also reported, it has made some investors millionaires. Currently the development team is working on many ideas. The Shiba Inu is seen by many traditional investors as a pump & dump scheme. There are criticisms that most earnings are driven by FOMO.

Crypto.com (Cronos-CRO)

Cronos (CRO) is the native token of the cryptocurrency platform Crypto.com. Crypto.com says it’s committed to making cryptocurrency more accessible to everyone. It is a trading and financial services company. It also has its own cryptocurrency wallet, an NFT marketplace, and crypto credit cards. The company’s coin, CRO, offers lower trading fees, better staking rates, and credit card incentives. Overall, the analyst says that CRO is a “perfect cryptocurrency” to buy. However, it warns investors that the CRO should stop on the stock market. He emphasizes that it would be better for investors to store their coins in a cold wallet.

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The Sandbox (SAND)

The Sandbox allows gamers to create their gaming experiences using the platform’s utility token SAND. It is a metaverse. It is also a blockchain-based game that was first released in 2015. The Sandbox is a Minecraft-like game that provides free quests to players. The project has grown in popularity by attracting $93 million in startup capital from companies like Softbank. Also, big brands like Adidas and Snoop Dogg have put money into the project. There’s even a $650,000 mega yacht sailing the Sandbox’s waters.

Chainlink (LINK)

Chainlink enables non-Blockchain firms to securely connect to Blockchain platforms. It is a cryptocurrency and technology platform. It also connects Blockchain-based smart contracts to other data sources. It is a middleware platform. It entered the market in 2017 to act as a link between blockchain and traditional data. Chainlink’s native LINK token is an ERC677 token that is backward compatible with ERC20. Weather, sports scores, election results, etc. It has come to an important position in terms of web3 by importing real-world data such as staking the LINK; Creates a node to join the network and collect incentives.

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Enjin Coin (ENJ)

Enjin is a blockchain infrastructure for gaming. Due to its capacity to create NFTs cheaply and effectively, it is becoming popular for blockchain development. It functions as an Ethereum side-chain. “Minted” assets can be customized and documented on the Enjin platform. It provides a software development kit (SDK) for creating, trading, and deleting NFTs. Via its application programming interface (API), it also offers decentralized financing and gamification of crypto assets on the platform.

Uniswap (UNI)

Uniswap allows peer-to-peer trading of ERC-20 tokens. It is a decentralized exchange and protocol. It is open source and works on two types of smart contracts: “exchange” and “factory”. Factory contracts bring new tokens to the network, while exchange contracts allow token swaps. Rather than relying on a centralized exchange to support trades, the community uses a liquidity pool. Users stake their balance to provide liquidity for transactions that would not be possible otherwise. MetaMask is compatible with Coinbase and WalletConnect. It operates in an increasingly competitive niche with competitors like SushiSwap.

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Larry Brown

I graduated from Yale University, Department of Television. I have been a professional news writer for 3 years. I am continuing my career here by establishing amknews.com site 3 months ago.