Would you like to start investing in cryptocurrencies? Many people worldwide are already getting extra income from investments in cryptocurrencies. The good thing about these investment vehicles is that you do not need huge capital initially. If you select the correct digital coin, your investment can grow quickly. But that is the main issue, how can we find the right coin to invest in?
You can invest in trusty coins like Bitcoin (BTC) and Ethereum (ETH). But the possibility to make quick money investing in those assets is minimal. Those cryptocurrencies reached a point where their value grew at a very slow pace. If you want to hit big on cryptocurrencies, you should look elsewhere. To help you decide which crypto asset to invest in this year, we discuss two promising cryptocurrencies: Velas (VLX) and PancakeSwap (CAKE).
These digital assets had an excellent performance in 2021. Both of them have good prospects. You could invest in both coins and convert VLX to CAKE or vice versa, depending on how their prices evolve during 2022. To help you decide, we provide short price predictions for the next few years for these digital coins.
Future Projections for the Velas Token
Velas was founded in 2019 to create an open-source ecosystem of blockchain products and services. Developers aim at utilizing the best decentralized and centralized solutions. Among the products this project will develop, we find consensus protocols and intuitive interfaces. With such intuitive user interfaces, people will be able to join Web3 through a community-governed ecosystem.
VLX is the native cryptocurrency of the Velas platform. As of the second week of April 2022, it traded at approximately $0.22. According to several crypto experts, VLX’s value could climb to a maximum price of $0.32 in the second half of 2022. In the following year, this token’s price would reach a maximum of $0.39. In 2024, this digital asset will sell at a maximum of $0.49. Finally, in 2025, VLX will not trade for less than $0.53.
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Future Projections for the PancakeSwap Token
PancakeSwap was launched in September 2022 as an automated market maker (AMM). This platform functions as a decentralized exchange (DEX) for swapping BEP20 tokens. This platform benefits users transacting on the Binance Smart Chain. CAKE is one of the tokens used to reward users of the PancakeSwap platform for staking and farming their funds.
Currently, CAKE trades at approximately $8.13. Experts think this token’s price will fluctuate between $10.8 and $11.5 in the second half of 2022. In 2023, it will fluctuate between $10 and $15. The following year, CAKE may reach a maximum value of $17.5. Finally, in 2025, this token could cross the $20 line. As seen, with VLX and CAKE, you could more than double your investment in less than three years.
Investing in Other Cryptocurrencies
There are many more options to invest in cryptocurrencies profitably. For example, you can consider Dogecoin (DOGE) and Binance USD (BUSD). Like the previous two cryptocurrencies, they are promising as investment vehicles. You can also invest in both coins and swap DOGE to BUSD or vice versa according to market fluctuations.
Dogecoin is a cryptocurrency that had an outstanding performance in 2021. However, it suffers from extreme price volatility. On the other hand, Binance is a stablecoin that mirrors the price of the American dollar (USD). So, you can invest in DOGE, and as soon as you make a profit, you swap it for BUSD to protect it against volatility. After some time, you will see your investment grow exponentially.