If you plan to invest in cryptocurrencies, you must thoroughly research different options. It is challenging to decide which ones are the best investment vehicles with thousands of cryptocurrencies in the market. Most people invest in well-known digital assets like Bitcoin (BTC) and Ethereum (ETH). That’s fine. After all, those two digital coins are considered safe investments in the crypto world.
However, if you want to diversify your crypto investment portfolio, you must consider other digital coins. Some alternative coins (altcoins) can yield a significantly higher return on investment (ROI) than Bitcoin. If exploring this possibility is interesting, we can help you by providing Hedera Hashgraph (HBAR) information. This digital asset is very promising and could be an excellent investment.
So, we begin with an overview of Hedera Hashgraph and HBAR, its native utility token. Next, we discuss an HBAR 2022 prediction, followed by long-term forecasts. With this information, you will be able to decide whether this digital asset meets your expectations as an investment vehicle. Let’s begin!
Hedera Hashgraph (HBAR) Overview and Projections for the Coming Years
When selecting a cryptocurrency to invest in, paying attention to projects developing innovative solutions is the way to go. Hedera Hashgraph has brought innovation to the table. This network allows users to create decentralized applications (DApps). But other platforms do the same, so where is the innovation? Instead of using traditional blockchain technology, the Hedera network implements the hashgraph distributed ledger technology.
Hedera is a faster and more stable network than other blockchain-based platforms with this innovation. This network utilizes HBAR for payments and smart contracts. Owing to the proof-of-stake (PoS) consensus mechanism, HBAR transactions are faster and consume less bandwidth. HBAR was sold during an initial coin offering (ICO) held in August 2018. At the time, each HBAR token was sold at $0.12. As of the last week of March 2022, it trades at $0.24. The highest price ever reached by this token so far was $0.5701 on September 16, 2021.
What’s the future of this token? Well, forecasts by experts paint a wonderful scenario. In 2022, the maximum HBAR price will be $2.5. It means that you could increase your investment ten times in a few months if you invest in HBAR now. By the end of 2022, this token will trade at $2. This uptrend will continue in 2023 when HBAR likely sells at $4. In 2025, the HBAR price will not be less than $7, having the possibility to reach $7.5. So, does HBAR have a future? Yes, a very bright future!
PancakeSwap (CAKE), What Is It?
Another cryptocurrency that experts identified as a good investment is PancakeSwap (CAKE). But what exactly is this digital asset? PancakeSwap is a decentralized finance (DeFi) application that allows users to exchange coins and tokens. It provides liquidity via farming. Users that contribute liquidity earn rewards in return. Let us look at it in more detail.
In this automated market maker (AMM) model, users can deposit funds into a liquidity pool, for which they get liquidity provider (LP) tokens known as FLIP in return. Users can farm additional tokens like CAKE. Users can deposit their FLIP tokens and get rewards in CAKE. The PancakeSwap project was launched in September 2020. The CAKE token reached its all-time high price on April 30, 2021, trading at $44.18. As of the fourth week of March 2022, each CAKE token sells at approximately $8.30.