In this article, we assess the performance of 10 cryptocurrencies that were labeled as top buys for the next 10 years by a website named Analytics Insight. We are going to take a look at the returns of each of these cryptocurrencies since the publication of this article.
Almost all of these cryptocurrencies have lost a significant amount of value over the past year. But would they rebound and are they good investments for the next decade? One could say yes for only a couple of these currencies, but for most of them, especially the meme coins, their trajectory does not look promising and they cannot be called the top crypto picks for the next 10 years.
The crypto crash of 2022 caused a lot of problems for many speculative cryptocurrencies, but crypto bulls and the surge of Bitcoin in 2023 have created hopes of a wider crypto rebound.
The Coinbase report said that the problems seen in 2023 would force companies to make improvements, thereby opening new opportunities. For example, the collapse of FTX, according to Gautam Chhugani and Manas Agarwal, would hasten the widespread adoption of DeFi in the industry.
Bloomberg’s Mike McGlone had sounded similar optimism during the start of 2023. The analyst said that the crypto crash of 2022 created a lot of problems for many speculative cryptocurrencies but the analyst believed ultimately strong currencies like Bitcoin and Ethereum were set for a rebound.
Standard Chartered said that Bitcoin could reach $50,000 by the end of 2023 and a whopping $120,000 by end-2024.
Let’s take a look at the performance of each of these cryptocurrencies since the publication of the Analytics Insight article.
USD Coin USD (CCC:USDC-USD) is a digital stablecoin that is pegged to the US dollar. Its price has remained stable and unlike TerraUSD, which lost its USD peg, USDC has shown its mettle even during difficult times.
Fetch.ai USD (CCC:FET-USD) is a blockchain platform that uses AI to help people automate everyday tasks. Fetch.ai USD (CCC:FET-USD)’s cryptocurrency FET has lost about 48% in value since January 11 despite a huge buzz around AI this year.
Samoyedcoin is a dog-themed meme coin which is known as Solana’s meme coin, its top “ambassador.” SAMO has lost about 88% in value since January 11.
Axie Infinity USD (CCC:AXS-USD) is a non-fungible token-based online video game developed by Vietnamese studio Sky Mavis. AXS has lost about 94% in value since January 11.
Avalanche USD (CCC:AVAX-USD) is a blockchain platform that promises to solve the problems of scalability, security and decentralization. Avalanche USD (CCC:AVAX-USD) has lost about 89% in value since January 11, 2022.
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Suggested articles: Disclosure: None. Top 10 Cryptocurrencies to Buy and Hold for 10 Years: Evaluating Crypto Predictions is originally published on Insider Monkey.
