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The world of cryptocurrencies is wide and it is true that sometimes we would like to invest in many projects that are doing amazing things and may have great potential for future growth. But, researching deeply about each of them can take a lot of time. Although there are endless options for investing in the crypto world, these three blue cryptos can never be missing in your portfolio, let’s take a quick look at them.
Chainlink (LINK-USD)
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chain link (LINK USD) is working to do is so that different blockchains can talk to each other effortlessly. Think of it as a universal translator that helps blockchain platforms understand each other and work together.
Recently, a major Australian bank ANZ used the magic of Chainlink to complete a transaction with tokenized assets. This demonstrated how the bank can move funds on both open and private blockchains, proving that real assets can safely dance on the blockchain stage.
But that’s not all. LINK is a key player in a global experiment that aims to create a one-stop shop for different networks. Chainlink isn’t just a back hero, it’s also teamed up with it FAST, the VIP of international money transfers. They connect banks with different blockchains, ensuring a smoother journey of your money across borders.
So, when people say that Chainlink is one of the blue cryptos, it’s because LINK makes the blockchain universe a friendlier place.
Solana (SOL-USD)
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Solana (SOL USD) is a cryptocurrency that has gained traction in the digital investment world due to its focus on fast transactions and support for decentralized application development.
The recent news about Google Cloud incorporating Solana data into BigQuery highlights the growing importance of the web. This move not only makes it easier for developers and businesses to access archived data, but also underscores the need for quick and easy access to information generated on the Solana network.
The collaboration with Google Cloud is part of a series of institutional developments supporting Solana, such as the expansion of the Visa (NYSE:V) stablecoin pilot on the web and the approval of the Solana Pay app on Shopify. These developments not only strengthen their infrastructure, but also demonstrate their increasing integration with major platforms.
In addition, BigQuery’s inclusion in the public dataset program is a significant step in their mission to provide Web3 developers and consumers with the insights needed to build effectively and creatively on the web.
Ripple (XRP-USD)
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A ripple (XRP USD) is a cryptocurrency designed to facilitate international transactions by offering a faster and more cost-effective alternative.
Despite its potential, recently XRP has been mired in a case before the SEC. The latest developments involve Ripple’s chief legal officer Stuart Alderoty responding to comments from SEC Chairman Gary Gensler. He suggests that there has been a biased approach to the ongoing legal battle between Ripple and the SEC. The disagreement centers on the Hinman Document, which Alderoty said introduced bias into the case.
In a separate announcement, Ripple Labs plans to integrate automated market makers into the XRP Ledger to improve liquidity and trading efficiency. The XRP community has expressed mixed feelings, with some fearing potential stability issues and others anticipating increased liquidity.
The price of XRP remains closely tied to the outcome of the SEC case, making it a critical factor for investors. However, if it can beat the heat, XRP is a blue-chip crypto you’ll want to have in your portfolio.
As of this writing, Gabriel Osorio-Mazzilli did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to InvestorPlace.com’s Publishing Guidelines.
Gabriel Osorio is a former Goldman Sachs and Citigroup employee. He possesses discipline in below-value investing and volatility-based long/short equity trading.
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