Promising Tokens in the Volatile Background of 2020
Since cryptocurrencies and tokens aren’t strangers to volatility, interesting evolutions continue to happen, even against the troubling background of 2020.
Investors are looking for projects that show potential all the time, and they continue to do so even in the current situation. So, we’ll go over the exchange tokens that look promising and manage to keep pushing forwards despite the fluctuant environment.
Binance created BNB in 2017, initially as an ERC-20 token, later transferred to the primary Binance Chain. You can use it as a utility token and for purchases like booking flights and hotels, shopping using a credit card, or in stores using the XPOS device. Not to mention you can use it to donate using the Binance Charity Foundation.
The first part of 2020 came with a significant drop in price for Binance, as it happened with most crypto coins, but during the summer, it managed to bounce back through decentralized exchanges. The last burn of $68 million worth of BNB didn’t significantly impact the price, but the token is still worth observing.
The ecosystem token from Huobi Global continues to be a good option. Despite the challenges this year has brought to the crypto market in general, HT is still considered a good investment. Forecasts seem to indicate that the Huobi token’s value will increase in the long run. If you’re looking at a 5-year investment, you can expect a revenue of over +150%. So, $100 invested today could become about $250 in 2025.
This September, Huobi burnt 3.94 million, less than in August. But 2020 marks Huobi’s 7th anniversary, and despite the unfriendly background, the number of users actually increased by 3.47%. It’s one more proof that HT remains a valid option for serious traders. It manages to stay on track due to the high level of security, trading fees, asset listings, and, not lastly, excellent customer support.
Chainlink seems to be one of the smart token investments in 2020. The Chainlink project relies on recognized technology and an extremely supportive community. The partnership with Hdac Technology that happened this year is a step towards the delivery of off-chain data on the blockchain.
You can find the token on primary exchanges like Coinbase or Binance. After a great start in 2020, it took the same hit as others from the pandemic. Still, despite an unavoidable drop in value, it managed to bounce back. Granted, the price is still lower than investors would like, but for a year like 2020, it’s not at all a bad evolution.
VeChain (VET) may not have a great value yet, but its progress is obvious. While trading for 0.2 cents in March, it got to 2.1 cents in August, which is a substantial gain, especially considering the current financial climate. This evolution leads to an increased interest in VET tokens in 2020. Considered by experts to have a good return, it looks like it can turn out to be a good investment in time. Even if the price is expected to drop in December this year, it’s probably going to bounce back in 2021. Making previsions in cryptocurrency and tokens is never easy since it’s not the most predictable financial sector. But by considering how each token manages to surpass the struggling period that is 2020, we can get an insight into the probable evolution and plan our investments accordingly.