Jimmy Aki
The crypto market is still in the grasp of the bears. The broader crypto market has shed 3.16% in the last 24 hours dipping the total market cap to $1.21 trillion. Despite the bearish run, opportunities abound for savvy investors to snap up some of the best layer 1 crypto at a discount. This review explores some of the best options and their current price performances.
1. Lucky Block (LBLOCK) – Gaming Focused Crypto with Huge Potential
Although not a layer 1 crypto project by default, Lucky Block is one crypto project value-driven investors should keep an eye on. Its promising future begins with its value proposition. Given the muddied atmosphere surrounding the online gaming industry, Lucky Block aims to bring clarity to the $230 billion-strong space.
Running on Binance Smart Chain (BSC), Lucky Block aims to bring transparency and engender fairness by ensuring randomly-generated raffle draws. All activities are recorded on the blockchain, further boosting its integrity. As a result, Lucky Block opens the online gaming space for everyone while tapering the issues of demography and financial exclusivity. Its LBLOCK token powers the fast-rising ecosystem and also serves as the ticketing system for users to play games with.
Its LBLOCK token surged more than 4,000% to a record high of $0.096 after coming from a presale price of $0.00015. Trading at $0.0021, there is ample room for explosive growth, making it a suitable time to buy Lucky Block.
You can also study our Lucky Block price prediction to understand why many investors are bullish on the cryptocurrency.
Free draw ticket for $LBLOCK holders?
Yes, if you hold $500 worth of $LBLOCK, you'll be eligible for a free ticket (T&C apply)
More information and instructions to come!
For now, go and buy $LBLOCK now to not miss it – https://t.co/c3zY3rNZ4H! pic.twitter.com/WZZUNLAEAz
— Lucky Block (@luckyblockcoin) May 24, 2022
Lucky Block plans to launch its first-ever blockchain-native raffle draw come May 31. This will allow users to play the lottery using the LBLOCK token as a ticket. Winners of this raffle will see the results in real-time and cash out their winnings. This will come a day after the launch of its long-anticipated Webapp, which would officially make Lucky Block a crypto gaming protocol users can easily tap into.
Cryptoassets are a highly volatile unregulated investment product.
2. Bitcoin (BTC) – Overall Best Layer 1 Crypto
Bitcoin is the crypto king and features prominently in the crypto market. Considering its large market share of 44.4%, BTC is the best layer 1 crypto. The digital asset is the foremost cryptocurrency following its launch in 2009 by anonymous founder, Satoshi Nakamoto.
Bitcoin is a peer-to-peer electronic cash transfer protocol that aims to eliminate centralised entities. The protocol runs on distributed ledger technology (DLT) or blockchain, which records all transactions in a block format. All transactions are validated by a body of decentralized validators and all records are traceable on the network.
Paraguay just passed a bill to regulate #Bitcoin mining!
— Crypto Lecturer ⚡ (@CryptoLecturer) May 26, 2022
Aside from enjoying a first-mover advantage (FMA), Bitcoin’s deflationary tendencies make it a top choice for several investors. The digital asset has a hard-cap limit of 21 million coins that will ever be mined. This supply crunch has served as a beacon to several institutional investors who are converting fiat to BTC in a bid to store their value.
According to data from BTC indexing website, Bitcoin Treasuries, about 1.5 million BTC or 7.457% of the coins are in the hands of deep-pocketed investors including public and private corporations, as well as world governments. This equates to about $45.3 billion in fiat value.
This points to the fact that more investors want to buy Bitcoin.
Price-wise, the crypto bellwether is seeing price support at press time and is trading at $28,830. Its price performance is down 2.5% in the last 24 hours.
Cryptoassets are a highly volatile unregulated investment product.
3. Ethereum (ETH) – Top Smart Contract Network
Ethereum needs no introduction and is a force to reckon with in its own right. Launched in 2015, Ethereum is a smart contract blockchain protocol that takes the crypto space even further than the Bitcoin network does. It allows developers to use self-executing lines of codes (smart contracts) to build decentralized financial solutions that power the DeFi ecosystem.
The protocol’s strong influence in several other booming sub-sectors has seen it make one of the best layer 1 crypto investors are buying more of by the day. The project’s proficiency has greatly been hurdled by its reliance on the outdated proof-of-work (PoW) consensus algorithm. This is about to change as the development team is planning to launch the much-awaited proof-of-stake (PoS) 3 consensus mechanism, called Beacon Chain by August.
This is expected to cut down on the energy demands on the network while slashing down on gas fees and improving its scalability. To support this enterprise, Cloudflare – an internet giant – is preparing to stake its ETH holdings to support the forthcoming Beacon Chain and the current network’s merge.
⟠ Latest Week in Ethereum News!
⛅ @Cloudflare to stake their $ETH to support the Merge
@dannyryan mainnet-shadow-fork-5 went exceedingly well
️ @fredriksvantes client bug bounties now $250khttps://t.co/R7pG1B1gLYThanks to @NexusMutual for making this issue possible
— Week in Ethereum News (@WeekInEthNews) May 21, 2022
The expected migration has seen several investors buy Ethereum in anticipation of a favourable price surge once the mainnet launches. Also, those who have been staking their tokens would be able to earn interest on Ethereum by using our detailed guide.
At press time, ETH is trading at $1,766, down 9.97% in the past day.
Cryptoassets are a highly volatile unregulated investment product.
4. Solana (SOL) – Top Web3-Enabling Protocol
The Solana has broken several milestones since it came into the public blockchain scene in late 2020. One of the most well-known facts about the project is its transaction per second (TPS). Solana averages a record 50,000 TPS, making it easily the most scalable and fastest blockchain protocol in operation.
The protocol’s success lies in its unique blend of the PoS and proof-of-history (PoH) timing mechanism which allows it to process transactions faster. Another huge draw is its low fee cost structure which sees all transactions executed with as little as $0.0025 in charges. This has drawn several users and developers alike making SOL one of the best layer 1 crypto investors are betting on.
From its makeup, the Solana blockchain is a visible upgrade to the Ethereum network as it facilitates several Web3 or decentralized finance (DeFi) processes. This has seen its ecosystem continue to make waves.
According to recent data from popular non-fungible token (NFT) tracking website, CryptoSlam, Solana-based NFTs recently surpassed Ethereum NFTs in sales volume. The digital collectibles surge was led by the newly launched TrippinApe NFT which saw Solana NFTs volume $24.3 million in fiat currency.
Brave launches support for Solana https://t.co/KHWucMoXxU
— Solana (@solana) May 24, 2022
Privacy-centric browser Brave has recently launched support for the SOL token.
The project influence is growing and you can learn how to buy Solana easily using our detailed guide.
At press time, SOL is trading at $43.46, down 10.23% in the last 24 hours.
Cryptoassets are a highly volatile unregulated investment product.
Conclusion on 4 Best Layer 1 Crypto to Invest in Now May 2022
To conclude, our roundup has discussed the best layer-1 cryptos turning heads in May. We considered a number of coins with exciting price potentials. Overall, our number one pick for investors to buy now is Lucky Block.
Related Crypto News
Lucky Block - Undervalued Crypto
- Listed on Gate.io, LBank, MEXC, PancakeSwap
- NFT Competitions, Jackpot Draws
- Powers Casino & Sportsbook Platform - luckyblock.com
- 10,000 NFTs Minted
- $2M+ in Prizes Awarded
This article was written for Business 2 Community by Jimmy Aki.
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