Imagine having to pay nearly $40 in credit card fees every time you make a transaction, you would probably stop using your credit card it doesn’t make sense right? Were that scenario to happen, you would likely react by stopping the use of your credit card or changing your credit card provider.
Well, crypto investors are faced with a similar situation when trading on the Ethereum (ETH) network, finding themselves having to pay several dozens of dollars for transactions that are often lower than that amount.
While it’s nothing new, it’s certainly starting to take a toll on the crypto community, now increasingly turning to alternative blockchains that offer lower gas fees, usually along with highly-competitive transaction speed and low latency compared to Ethereum.
We’ll cover three of these networks in that article, each of them possessing its own native token which could be an attractive investment if you believe in the long-term potential of these projects.
Solana (SOL)
Solana (SOL) is the shining star of the moment. Despite several hiccups along the roads in the form of hacks and other online attacks, Solana managed to hold its ground and solidify its status as a leading cryptocurrency part of the exclusive Top 10 club.
Solana made headlines as a major contender in the “Ethereum killer” club due to its network offering some of the fastest transactions on the market, and that for only a fraction of a cent. In fact, Solana’s network can process up to a staggering 65,000 transactions per second (TPS), while the Ethereum network does approximately 15. Numbers speak for themselves…
If you wish to gain exposure to Solana’s extraordinary performance, present and future, you can invest in its token, SOL. And in fact, over the past week, Solana’s currency, SOL, has seen a meteoric rise, soaring nearly 20% over the past 7 days.
Despite most market analysts claiming that SOL has now reached overvalued territory, history has shown that investors are not afraid of chasing SOL at such high valuations, pushing the price even further up.
Naturally, one must be careful in such a situation when excitement and greed grip the market. As SOL’s price might not be as attractive now as it was a couple of weeks back, it remains that Solana remains a great cryptocurrency to hold for the years to come.
Solana’s main challenge lies in securing its network as it suffered important attacks over the last months, but Solana has proved its strength by weathering these crises while other projects might have collapsed altogether. Definitely a promising project to keep on your watchlist!
Binance Coin (BNB)
Trading under the BNB ticker, Binance Coin (BNB) is the currency of the Binance ecosystem.
As a company, Binance has now grown to become the world’s leading cryptocurrency exchange, even processing more transactions on a daily basis than its main rival Coinbase. That success is reflected in BNB’s performance, soaring 1344% in 2021 and outperforming blue-chips like Bitcoin (BTC) and Ethereum (ETH).
Now, BNB boasts a market cap of $75 billion and occupies the 4th rank of largest cryptocurrencies by market cap. Originally launched on the Ethereum network, BNB was then migrated to Binance Chain and Binance Smart Chain (Binance’s Ethereum-Virtual-Machine-compatible network), which can handle about 160 transactions per second (TPS) for negligible gas fees.
Not only is BNB interesting as it gives you exposure to Binance and its explosive growth, but the cryptocurrency appears to have a well-thought utility.
Indeed, having started as a simple utility token providing discounts on Binance’s trading fees, BNB evolved to become one of the most complete and polyvalent cryptocurrencies currently in circulation. Now, holding some BNB enables you to pay Binance’s transaction fees entirely (not just a discount), access exclusive financial services, and even book certain venues!
Besides, every three months, Binance uses one-fifth of its profits to buy back BNB on the market and subsequently burn them. This mechanism, known as buyback-and-burn, makes Binance Coin scarcer over time, increasing its value based on the principle of supply and demand.
Although less fast than the Solana network, Binance Chain remains about ten times faster than the Ethereum network, a significant feat.
Quitriam Finance (QTM)
Quitriam Finance (QTM) is another project that aims, amongst other things, at countering the rising trading costs within more mainstream networks, notably Ethereum.
This emerging project ambitions to develop a multichain decentralized exchange (DEX) called Quitriam Swap. Quitriam Swap would be present on several networks at once in order to offer some of the fastest transactions on the market. Indeed, the Quitriam team claims that Quitriam Swap could process up to 50,000 TPS, a massive achievement if that is actually the case.
And this is just the tip of the iceberg: eventually, Quitriam Finance aims at launching its own stablecoin, MC, and offering its users yield farming and lending solutions, along with an NFT marketplace – some developments that certainly remind those of now-famous PancakeSwap (CAKE).
Quitriam Finance is currently in its presale stage and offers its native token, QTM, $0.000011.
As other projects have demonstrated over time, presales can be the place to be if you have a higher-than-average risk appetite and are ready to experience some market turbulence in the initial stage.
In turn, presales also provide an opportunity for investors to experience multiple-digit performances and easily double, triple, or 10x their initial investment. High risk high reward as they say…
In any case, Quitriam Finance looks like a promising project with a solid roadmap that deserves a spot on your watchlist with their market launch coming up.
Keywords: Solana, SOL, Binance, BNB, Quitriam Finance, QTM, Ethereum, Blockchain, Token
Learn more about Quitriam Finance
Website: https://quitriam.io/
Presale: http://presale.quitriam.io/
Intagram: https://www.instagram.com/quitriam_finance
Twitter: https://twitter.com/quitriamfinance
Telegram: https://t.me/QUITRIAMFINANCEOFFICIAL
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