Alexander Khvoynitsky, development director of Chatex crypto-bank, shared his advice on the choice of cryptocurrency for investment. One of the criteria for successful investment is the technological development of the project.
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According to Khvoynitsky, an initial analysis of the cryptocurrency should be done before investing.
"You should consider projects by criteria: how new and technological the project is, how big a community was formed around it, and what prospects the project has," he explained.
The expert noted that one should not be guided by the statements of newsmakers when choosing an object for investment. In recent years, tens of thousands of new currencies have appeared in the crypto market. Khvoynitsky believes that it is difficult to predict their success, but there are those who "break all records in terms of growth rates." As an example, he cited the Solana project, one of the fastest-growing blockchains. It has a community of over 84,000 people, and its NFT token protocol Burnt.Finance grew by almost 3,000% in 2021, according to RBC data. This is due to high-speed transaction processing, which lowers blockchain mining speeds to 0.4 sec.
One of the most popular cryptocurrencies is bitcoin (Bitcoin), the rate of which has high volatility. This year, its value has repeatedly updated the historical high, for example, on October 20, it reached a mark of $66.033, but on October 27, it fell by more than $5 thousand and was kept at the level of $59 thousand.
The head of the investment department of the fund on the market of crypto-assets Aaron Chomsky believes that the rate of this cryptocurrency can grow to $100 thousand on the background of inflationary expectations due to high commodity prices, the global shortage of chips, failures in the supply chain, as well as the limited supply, which was signaled by the fact that most investors began to follow a savings model of behavior.