Cryptocurrency prices ended November in an upbeat tone after the upbeat statement by Jerome Powell, the Federal Reserve chair. In it, he hinted that the Federal Reserve will hike interest rates at a slower pace when it meets in December. As a result, Bitcoin climbed to $17,000 while the total market cap of all coins jumped to over $859 billion. Here are the top cryptos to buy in December.
GMX
The collapse of centralized companies like FTX, Voyager Digital, Celsius, and BlockFi has led to higher demand for decentralized projects. Most analysts believe that DEX will win against CEX because of their on-chain transparency and decentralization.
GMX is one of the fastest-growing companies in the decentralized industry. It is a decentralized perpetual exchange that makes it possible for people to trade BTC, ETH, and other top cryptocurrencies with 50x leverage. It exists on the Avalanche and Arbitrum chains and has over 173k users. According to its website, it has handled over $88 billion worth of cryptocurrencies in the past few years.
GMX is the governance token for the network. Unlike FTT, holders of the coin receive 30% of all fees generated on its platform. GLP, on the other hand, is the liquidity provider token that accrues 70% of all fees.
GMX price will likely continue rising in December as investors focus on the growth of the decentralized exchange industry.
How to buy GMX
Solana
Solana price had a terrible performance in November because of its exposure to FTX and Alameda Research. The two companies held SOL coins worth millions of dollars. As a result, its price crashed hard as investors dumped the coin. The two entities also held vast resources in Serum’s SRM and Bonfida’s FIDA.
Solana price also dropped as investors exited its DeFi ecosystem. The total value locked (TVL) in Solana crashed to below $500 million. At its peak, it had a TVL of over $10 billion. Still, there is a likelihood that Solana will rebound in December. For one, its NFT ecosystem has been doing well in the past few weeks.
How to buy Solana
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
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Disclaimer
Binance
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.
Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
Buy SOL with Binance today
MATIC
Polygon is a leading layer-2 network that helps developers solve some of the challenges in Ethereum. It has been used widely by some of the biggest blockchains in the world like Aave, Uniswap, and Balancer. In total, Polygon has seen the total value locked (TVL) collapse from over $12 billion to about $1.2 billion.
MATIC is a good buy in December ahead of the resilience of its ecosystem and the ongoing developments. It has also formed an inverted head and shoulders pattern, which could see its price resume the bullish trend.
How to buy Polygon
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Buy MATIC with eToro today
Disclaimer
Bitstamp
Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.
Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.
Buy MATIC with Bitstamp today
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