Author: Stephanie Bedard-Chateauneuf

If you’re optimistic about crypto following Bitcoin’s (BTC-USD) recent surge in popularity, you might be wondering which cryptocurrencies are the best to buy now for potential long-term gains. Which projects might see widespread adoption in the next decade, leading to substantial returns?

Investing in crypto is quite different from investing in stocks. The first American stock exchange began in 1792, while Bitcoin became publicly available only in 2009. Therefore, the concept of cryptocurrency investment remains unclear to many people. Are you investing in Bitcoin because you believe it will become future legal tender, or are you simply looking to grow your money?

Regardless of your motivation, the best cryptos to buy and hold for the next decade are the most legitimate ones—those that have already shown signs of adoption and integration into financial systems.

Bitcoin (BTC-USD)

Bitcoin is the most likely cryptocurrency to endure into the future. It has been around the longest, essentially started the industry, boasts the highest trading volume and market cap, and is the most widely accepted as tender globally. Some governments, like El Salvador, have even experimented with integrating it into their currency systems. Additionally, Bitcoin’s success has inspired an entire industry of Bitcoin mining companies, which operate computer farms to decrypt algorithms and further the coin’s circulation.

Investing in Bitcoin is different from investing in stocks. It’s not about a company’s future value but rather the adoption of a highly technical technology. Timing the market with Bitcoin is unlikely to be successful. Instead, view the money invested as a long-term gamble and aim to buy when Bitcoin’s price is well below its all-time high—not like right now.

Ethereum (ETH-USD)

If Bitcoin seems too expensive, Ethereum (ETH-USD) is a more moderately priced investment option. Dubbed the “world’s largest altcoin,” Ethereum aims to offer a more ecosystem-based alternative to Bitcoin.

Long-term investors in ETH believe in the prospects of blockchain technology. ETH’s value proposition is not as an alternative to fiat currency but as an open-source blockchain. Developers seeking to advance blockchain technology earn ETH coins, which can increase in value over time.

ETH is also a major player in decentralized finance, aiming to bypass traditional banking and facilitate large-scale transactions directly between individuals via a blockchain. If you’re bullish on blockchains and decentralized finance, ETH could be a solid investment to hold for the next decade.

Binance (BNB-USD)

Binance (BNB-USD) is tied directly to the performance of the largest cryptocurrency exchange in the world. Investing in Binance for the next decade means believing in its value as an intermediary currency and having confidence in the longevity of the Binance exchange.

As the Binance exchange grows in popularity, the use and trading frequency of BNB could increase, boosting its value and purchasing power. For investors, this means either using BNB to store valuable cash or trading it efficiently for other cryptos on the Binance platform.

Ultimately, BNB’s high market cap is due to the general popularity and trust Binance has earned within the crypto community.

These three cryptocurrencies—Bitcoin, Ethereum, and Binance—represent some of the best long-term investment options in the crypto space, with the potential for significant growth over the next decade.

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In the volatile world of cryptocurrency, investor confidence is often gauged by the willingness to hold assets through market fluctuations. Recently, Ethereum has seen a strong vote of confidence from its community, marked by a record number of long-term holders. These HODLers are crucial to Ethereum’s future.

Long-Term Holders on the Rise

According to Glassnode data, a significant portion of Ethereum is held for periods ranging from one to three years. This indicates that much of the Ethereum acquired during the 2021-2022 period is still being held. This trend is further supported by the decrease in the proportion of crypto held for less than six months, while the share held for more than seven years has increased. This reflects the stability and faith in Ethereum’s fundamental value and its potential for future growth.

The Ethereum HODL Waves chart illustrates the distribution of Ethereum held over various periods, revealing changing trends in investor behavior. The recent surge in long-term holders suggests strong conviction in Ethereum’s long-term value, with many investors choosing to hold their assets rather than sell during market fluctuations.

The Influence of Long-Term Holders

Long-term Ethereum holders play a crucial role in stabilizing and growing the cryptocurrency. By holding their assets, they reduce volatility and create a sense of confidence that attracts new investors. Their long-term vision also encourages the development of innovative projects on the Ethereum blockchain, fostering a richer and more diverse ecosystem.

This HODLing strategy can positively influence Ethereum’s future, positioning it as a leading digital currency with increased global adoption and usage. However, it is important to note that cryptocurrencies remain high-risk investments, and market conditions can change rapidly.

The behavior of long-term Ethereum holders indicates a strong belief in the crypto’s potential. Their strategy suggests Ethereum is maturing as an investment asset, with promising prospects for future growth.

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Cryptocurrency markets remained under pressure during U.S. trading hours on Thursday, extending a decline that began the previous day when the Federal Reserve indicated it expected to cut rates only once this year.

Ether (ETH) saw a mid-morning bounce after U.S. Securities and Exchange Commission Chairman Gary Gensler, during a Senate hearing, stated he anticipated that spot ether ETFs would receive full approval from his agency by the end of the summer. This news briefly lifted ether by 1%, but the gain was short-lived. The price reversed more than 3% within an hour and was trading at $3,440 at press time, down 5% over the past 24 hours. The broader CoinDesk 20 Index was down 4.9% in the same period.

Bitcoin (BTC) also dropped nearly 5%, trading near a one-week low of $66,300.

Markets turned negative on Wednesday afternoon following the Federal Reserve’s hawkish policy meeting. The U.S. central bank kept its benchmark fed funds rate range steady at 5.25%-5.50% but updated its projections to suggest just one 25 basis point rate cut in 2024. In contrast, rate futures markets had been anticipating two to three 25 basis point cuts this year.

Thursday morning’s U.S. economic data, indicating continued softening in both inflation and the economy, failed to improve the macro mood in crypto. The May Producer Price Index (PPI) fell 0.2% against expectations for a 0.1% rise. On a year-over-year basis, PPI was up 2.2% compared to forecasts of 2.5%. Additionally, initial jobless claims rose to nearly a one-year high of 242,000, versus expectations of 225,000.

“$66K seems like equilibrium,” said well-followed analyst Skew in a post on X, who, along with others, is trying to decipher a market that hasn’t sustained higher levels despite recent bullish news. This includes improving inflation data, a Bitcoin-friendly presidential frontrunner in Donald Trump, spot ETH ETF approvals, and other risk asset markets, like U.S. stocks, reaching new all-time highs.

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Paradigm, known for its early investments in projects like crypto exchange Uniswap and Ethereum scaling solution Optimism, has raised $850 million for an early-stage crypto venture fund. Founded in 2018 by Coinbase co-founder Fred Ehrsam and former Sequoia Capital partner Matt Huang, Paradigm is one of the largest venture capital investors in the cryptocurrency industry. This new fund marks Paradigm’s first since Ehrsam stepped down from a leadership role in October.

“This is the sort of early-stage work that we love contributing to, and it’s what we’ll be increasingly focused on going forward,” Huang wrote in a blog post on Thursday.

In 2021, Paradigm raised a $2.5 billion fund, which was the largest-ever crypto investment vehicle at the time.

The pace of launching new cryptocurrency-focused funds has accelerated this year, with many existing funds also raising capital. This fundraising surge coincided with Bitcoin’s rally to record highs, driven by the introduction of exchange-traded funds (ETFs) investing directly in Bitcoin and recent indications that similar funds focused on Ether are likely to gain approval soon.

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Bitcoin is currently trading down more than 3% over the past 24 hours, sitting at $67,171.52, according to data from Benzinga Pro.

Robinhood Markets, Inc. (NASDAQ:HOOD) recently announced the acquisition of Bitstamp Ltd., a well-established global cryptocurrency exchange. Robinhood’s expansion into the cryptocurrency space is adding pressure on existing crypto exchanges like Binance and Coinbase, as a new competitor enters the market.

In response, Coinbase has introduced a new smart wallet aimed at simplifying the previously cumbersome onboarding process associated with crypto wallets. “These next-generation wallets address the biggest pain points of the crypto experience today,” the company stated in a blog post. “Smart wallets make the transition to on-chain smoother than ever.”

Is COIN A Good Stock To Buy?

When deciding if a stock is a good buy, investors consider several factors. Besides valuation metrics and price action, which you can find on Benzinga’s quote pages (like Coinbase’s page), there are other considerations like dividend payments and stock buyback programs.

Coinbase Global (NASDAQ:COIN) does pay a dividend, yielding 0.43% per year as of the closing price on June 11, 2024. You can check Benzinga’s dividend calendar to find out when the next dividend is due and what kind of yield you can expect for holding the company’s shares.

For instance, if you’re aiming for an annualized return of 13.81%, you might consider buying a share of Ellington Residential by June 28, 2024. This would entitle you to a nominal payout of $0.08 on July 25, 2024.

Stock buyback programs are another factor to consider, as they can vary significantly. A company can approve a buyback program and purchase shares as it sees fit over the authorized period. Checking the latest news on Coinbase can reveal if the company has recently approved a buyback program. Buyback programs typically support share prices by providing a backstop for demand.

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