Are you eyeing to make the most out of crypto tokens in the crypto summer? Well, we’ve got your back in the search for the most lucrative tokens to invest in. As you know, the best way to make a fortune by investing in tokens is to get a hold of the ones with the most explosive potential and innovative utility.
Crypto tokens provide holders with features specific to certain platforms. These tokens are mainly built for decentralized projects on existing blockchain networks and offer functions such as utility, governance, and security to holders. The tokens are initially used to fund projects and are often sold and circulated via the initial coin offering (ICO) process, which is usually a crowdfunding phase. That said, the major crypto tokens to look at in the crypto summer include Everlodge, Wrapped Bitcoin, VC Spectra, Chiliz, and XRP20.
But first, before diving into details on these tokens, let’s look at what a crypto summer means!
What is a Crypto Summer?
A crypto summer refers to a period where crypto tokens rise in price rapidly. An upward trend in market graphs mainly characterizes this period due to many investors buying tokens because of high speculations and excitement around them. Notably, there have only been two crypto summers since the upcoming of the crypto industry.
The first crypto summer was experienced in 2017 when the crypto tokens market capitalization rose from $18 billion in January 2017 to $200 billion in December 2017. The second crypto tokens summer happened in 2021 and saw an increase in the market capitalization from $1 trillion in January to $2 trillion in April. The 2017 crypto summer was characterized by the rise of Bitcoin’s market valuation, while the 2021 crypto summer was characterized by an influx of institutional investors into the crypto tokens industry.
5 Best Crypto Tokens to Eye For in the Summer
Now let’s look at some of the tokens to eye for:
Everlodge (ELDG)
ELDG is a one-of-a-kind token used to revolutionize the hospitality and real estate industry. This token, native to the Everlodge ecosystem, allows investors to purchase property with even as low as $100.
The token has several benefits to holders, which include property raffles, giveaways, experiences, discounts on property purchases, and discounts on transaction fees throughout the ecosystem. The token can also earn holders free stays at the Everlodge properties. A holder with 10,000 tokens, for instance, can get a week’s free stay at any hotel within the Everlodge ecosystem. On the other hand, token holders can stake their tokens for a fixed monthly passive income.
With the global holiday rental market projected to grow by 3.37% between 2023 and 2027, it is expected to reach a market volume of US$107.70 billion in 2027. This means that this is a very lucrative industry to venture in. Furthermore, Everlodge was valued at $0.018 in its 3rd presale phase and is now in its 6th presale phase, as per their recent tweet.
Experts predict that the Everlodge token will surge by 280% by the end of the presale phase and can surge to 3000% by end of 2023.
Wrapped Bitcoin (WBTC)
Wrapped Bitcoin is a crypto token created to enhance the use of the original Bitcoin within the Ethereum DeFi ecosystem. However, WBTC is not Bitcoin but an ERC-20 token that tracks Bitcoin’s value. Nevertheless, the WBTC token holds a 1:1 ratio with Bitcoin regarding valuation, which means that 1 WBTC token is equivalent to 1 BTC.
The WBTC token was first introduced in January 2019 and has since been used to trade on decentralized exchanges and explore opportunities in the DeFi ecosystem. The token combines Bitcoin and Ethereum technologies by bringing BTC’s liquidity and value to the DeFi world.
Since 2021, the crypto tokens market has been through a prevalent bearish market. However, in 2023, the market recovered, and Binance predicts that WBTC will hit around $44,212.56 by the end of the year. If the current growth persists, Wrapped Bitcoin is expected to hit a maximum of $63,919.93 and an average of around $51,181.05 in 2024. This means there is a strong possibility that WBTC will see a significant bull run in the short run.
VC Spectra (SPCT)
VC Spectra is an innovative decentralized token centered around helping investors make passive income. The token, which operates on the BRC-20 standard, is built on Bitcoin technology and is highly powered using artificial intelligence and algorithmic trading strategies.
The SPCT offers investors several benefits, including dividends that are offered quarterly, buybacks on investment gains, unrestricted participation in ICOs, and voting rights on important decisions. Additionally, the VC Spectra platform offers its community access to new ICOs in the seed or private sale phase and exclusive access to major DeFi projects.
The VC Spectra token has now moved into Stage 4 with a value of $0.055, which shows a massive surge of 587% from its Stage 1 price. However, this token is estimated to rise to $0.080 by the end of the public presale. The recent hike in the price of VC Spectra has seen it grow among the best tokens to eye for in the Crypto Summer.
Chiliz (CHZ)
Chiliz is an ERC-20 token that is built on the Ethereum blockchain network. Chiliz created the token to serve as an in-house currency for its Socios platform used by sports fans. The Socios platform allows fans to buy branded NFTs that connect them to their favorite entertainers and teams.
These fan-centered crypto tokens are not just mere NFTs but assets with real-world value. The token allows fans to interact with their favorite teams and make crucial decisions. For instance, Juventus FC, the soccer club, has used the ‘Chelsea Dagger’ song to celebrate their goals for eight years. However, recently, through the Juventus fan token, the team allowed holders to choose a song that would be used to celebrate their team’s goals.
The Chiliz token is poised for great success due to its integration with Binance, which has inspired confidence among CHZ investors. Since the announcement of this integration between Binance and Chiliz 2.0 on 30 August 2023, the token has promised to rise in value. The CHZ token had already increased by 9.08% from $ 0.05448 to $0.05943 as of mid-October 2023 and is expected to skyrocket even further.
XRP 2.0
The XRP20 is an ERC-20 token built on the Ethereum blockchain ecosystem. The token draws inspiration from Ethereum’s original XRP. However, it is more focused and accessible, featuring a State-to-Earn utility and a burn mechanism. This makes it deflationary with a buy-and-burn token strategy that sends 0.1% of every buy and sell to a burn address.
The token is used to democratize an XRP that only serves institutional investors. Holders of XRP 2.0 crypto tokens strongly believe it will strengthen the ecosystem and help solve the problems in the XRP community.
XRP20 is currently at 40% circulation, with 40 billion already supplied to holders in the presale phase, and is valued at $ 0.00003421 as of 29 October 2023. However, the token is expected to hit around $0.0022 by the end of the year. Based on a tweet by Michal Prus, “the ecosystem will burn next 5% xrp20 to raise the price to the moon.”
Conclusion
The crypto tokens mentioned above promise high yields for you in the Crypto Summer. You surely don’t want to miss out on them. However, be sure to do good research before investing and focus on investing in crypto tokens that are convincing to you.
Frequently Asked Question
What is a Crypto Winter?
A crypto winter is a period of prevalent bearish market. This period is characterized by dipping in the value of major crypto tokens and can last up to several months.
What is the Best Strategy for Crypto Trading?
There isn’t an identified best way to trade crypto tokens. However, before you begin, what you need to understand is whether you are an investor or a trader. An investor would go for long-term utility and price appreciation, while a trader would seek an instant price movement. As a trader, you can use several strategies, such as trend trading or keeping a close eye on signals.
How do I Choose the Best Token to Buy?
When choosing the best token, consider factors such as how easy it is to buy, room for additional adoption, and projections on growth.
