5 Best Coins For 100x Gains August 2021 Week 4
The crypto market is booming presently as the nascent industry has hit the $2.16 trillion valuations, rising 0.37% in the last 24 hours. Several investors are searching for the best coins for 100x gains. This article will highlight the five best coins we believe will generate massive returns for your investments.
1. Bitcoin (BTC)
Bitcoin is a well-known digital asset and its parabolic rise this year sees it top our best coins for 100x gains list. Deflationary by tendency, the top premier digital asset is a market mover and has been dictating the pace of growth of the entire crypto industry.
Its ascent to crypto fame came in 2017 when it surged just north of $20,000 before capitulating under market pressure. The benchmark cryptocurrency hit a phenomenal high of $65,000 in the April crypto boom four years later. Despite most of its gains being shaved off a month later, BTC has grown more than 100% year-to-date (YTD).
And as usual, it leads the crypto market in welcoming back the bull season. At press time, Bitcoin is trading at $49,638.80, down 1.18% in the last 24 hours. However, it has climbed 7.95% in the previous week.
Surprised about $BTC closing in on $50k?
On-chain data shows institutions have been accumulating #Bitcoin with the amount of volume in addresses with over 1k BTC reaching 6-month highs
This volume has grown as price has gone up in the past month, showing strong conviction pic.twitter.com/QvwS0XO16g
— Lucas Outumuro (@LucasOutumuro) August 20, 2021
Bitcoin adoption continues to grow by the day. Popular Bitcoin maximalist and Square CEO Jack Dorsey is reportedly considering mining the top virtual currency. In a tweet, the billionaire owner and CEO of micro-blogging platform Twitter said he has teamed up with Compass Mining.
Also, the Iranian government is set to lift its ban on Bitcoin mining this coming month. In a report by the local media outlet Financial Tribune, the three-month embargo on crypto mining will be raised by September 22.
2. Binance Coin (BNB)
Looking for an alternative best coins for 100x gains? You should consider Binance Coin or BNB. Used as a discount tool on the world’s largest crypto exchange by trading volume, Binance, BNB has become something of a crypto fairytale.
Binance Coin surged from a low price of $38 to $650 during the April boom, rising more than 1,000% in four months. Such massive returns on investments are hard to come by for many investment vehicles.
BNB’s meteoric rise is closely linked to the growth of the Binance exchange. BNB plays a huge role in the Binance Smart Chain (BSC), which supports decentralized applications (dApps).
However, BNB has been negatively impacted by the three-month bearish movement of the crypto market slumping by 50% in the said period. But the recent bullish trend has seen BNB surge again, briefly touching the $505 mark 48 hours earlier.
At press time, BNB is trading at $497.73, up 2.38% on the daily chart. The Binance exchange bolstered its anti-money laundering (AML) efforts following the hire of former US Treasury Criminal Investigator Greg Monahan.
Also, Binance US, the exchange’s US subsidiary, is reportedly planning to go public through an initial public offering (IPO). This would see the company follow in the footsteps of Coinbase by becoming a public-traded company.
Your capital is at risk
3. Ethereum (ETH)
The Ethereum network is popular for the facilitation of a whole new blockchain ecosystem.
Built on the successes of decentralized transfer, the Ethereum network enables the creation of smart contracts (digital agreements between transacting parties), which developers use to create decentralized financial services.
Ethereum hosts the largest amount of best performing dapps in the crypto ecosystem. This has seen its ETH token post major gains this year. Like BTC, ETH has rallied significantly and shot up to a record value of $4,350.
This huge growth potential makes it one of the best coins for 100x gains in the future.
Also, the network’s recent introduction of a deflationary mechanism for ETH has seen its value surge from $2,000 to $3,338 at press time. The asset has rallied 4.78%, with market pressure being a barrier to the token’s continued rise.
Also, the token is seeing more institutional adoption. In a recent filing, two ETH-backed exchange-traded funds (ETFs) were brought forward by VanEck and ProShares to the US Securities and Exchange Commission (SEC).
Your capital is at risk
4. Dogecoin (DOGE)
Dogecoin started as a comic take on the sudden proliferation of cryptocurrencies following the remarkable success of Bitcoin. Even though several critics have pointed out its weak fundamentals, the meme token has surged 15,000% YTD making it one of the best coins for 100x gains.
The joke currency’s light-hearted focus has since drawn several admirers, with Tesla and Space X boss Elon Musk openly declaring support for the parody coin.
This saw Dogecoin surge to an all-time high (ATH) of $0.74 in the heat of the crypto boom. However, the Shiba Inu-inspired digital asset has slumped with the wider crypto market, touching a mid-year low of $0.2076 on July 8.
This has not negatively impacted the token, and it is rallying with the broader crypto market. At press time, DOGE is down 3.34% and trades at $0.3157.
The defunct Dogecoin Foundation has been recently reinstated. Team members include prominent figures like Ethereum co-founder Vitalik Buterin, Billy Markus, and several others. The team expects to support the vibrant DOGE community and help promote blockchain technology.
Also, Elon Musk recently commented that Dogecoin is equivalent to money. According to him, Dogecoin can be utilized as a medium of exchange.
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5. Chainlink (LINK)
Chainlink’s unique value proposition sees the blockchain platform differ from many crypto protocols in the crypto space.
The crypto protocol enables several blockchains to securely interact with external data feeds, events, and payment methods while providing critical off-chain information used by smart contracts.
LINK has been in the center of a price rally alongside several crypto protocols. The digital asset surged from $12.22 to $49.83 on May 10. This saw it record major gains and several LINK holders see their investments grow.
Despite retracement, LINK is still one of the best coins for 100x gains as it is currently signaling a bullish momentum at a present value of $28.53.
The Chainlink blockchain recently announced a successful launch on Arbitrum One, an Ethereum layer-two scaling solution. This will enable developers to access financial market data directly on-chain and enabling more functionality for DEX platforms.
Also, Swiss-based telecoms giant Swisscom recently became a node operator for the oracle network. In the announcement, Swisscom said it would be entering the DeFi space with its partnership with Chainlink.
Your capital is at risk