When traditional stock prices rise, cryptocurrency prices rise much more, and vice versa. This has been the case for almost the entire year of 2022, making cryptocurrencies a type of high-beta version of the stock market. Unfortunately, the stock market has not risen: At the end of September, bear markets were declared for the S&P 500, the Dow Jones Industrial Average, and the Nasdaq. At the beginning of the last quarter of 2022, the S&P 500 had lost 24.8% of its value, while the tech-heavy Nasdaq had lost 32.4% of its value. During that time span, the value of crypto had shockingly decreased by 56.6%. The good news is that despite the fact that the stock market saw a loss of 9.3% in the month of September, digital assets demonstrated hints of resilience while falling by only 3.1%. The past of cryptocurrency price changes is littered with examples of tremendous volatility, and further increases in interest rates are almost certain to take place. However, November might be an excellent time to take a position in crypto for those who are willing to go against the grain. Here are the top five cryptocurrency tokens that you should consider investing in before the end of the year.

Bitcoin

When it comes to taking your first step into the world of cryptocurrencies, the only way to truly get your feet wet is to invest in Bitcoin. BTC has the most impressive track record and the most well-known brand name in its asset class as it was the first cryptocurrency ever created, and now has the greatest market capitalization. Bitcoin, in contrast to the other cryptocurrencies on this list, is not a fundamental component of any larger ecosystem or decentralised financial network. There are only ever going to be a total of 21 million Bitcoins in existence, however there are currently 19.2 million in circulation. Bitcoin is often compared to digital gold or to an alternative global currency. Trust, like every other money, is the source of its worth; but, in contrast to other currencies, such as the strengthening of the United States dollar, for example, its supply can never be controlled. The widespread adoption of Bitcoin, in particular as a means to broaden the investment options available to corporations’ treasuries, is likely to be its most important future catalyst.

Filecoin

Filecoin, which has the smallest market capitalization of any name on this list, is one of the top cryptocurrencies that you should consider investing in. Having said that, Filecoin is by no means a brand-new cryptocurrency, since its history can be traced back to 2017. Along the same lines as Cosmos, Filecoin is a little more speculative than some of the other names on this list; but, due to its one-of-a-kind project goal, it is definitely worth keeping an eye on. Filecoin is a decentralised storage network with the claimed goal of keeping the world’s most significant information. Due to the fact that it is decentralised, Filecoin is ideally suited for data that an individual may wish to shield from the possibility of being subject to censorship. So, why are web3 cryptocurrencies important? Well, the term “Web 3.0 crypto coins” refers to cryptocurrencies that are associated with blockchain projects that are driving the decentralisation of the internet. They are also some of the most widely used cryptocurrencies in the industry, and they frequently provide investors with profitable returns on their investments.

Ether

Ether is the only other coin that can compete with Bitcoin’s price since it is the native token of the Ethereum blockchain, which is extremely popular. The ecosystem surrounding Ethereum soon established itself as an early shelter for apps related to decentralised finance, sometimes known as DeFi. This was popular among both users and developers. Ethereum, in contrast to the Bitcoin network, provides real-world utility beyond only payments. With the issuance of smart contracts and non-fungible tokens, Ethereum can seemingly build enterprises that are worth several billions of dollars overnight. One of the most common criticisms directed at cryptocurrency is that it is a waste of resources, particularly energy. In September, Ethereum finished a long-awaited event that was referred to as “The Merge.” This transferred it from a proof-of-work consensus to a proof-of-stake consensus, which resulted in a reduction in predicted energy consumption of more than 99%. Ethereum faced this challenge head-on, and brilliantly at that. The next largest non-stablecoin in existence, with a market cap of more than $160 billion, is less than a third of the size of Ethereum’s market cap.

Solana

Solana is another prominent competitor in the DeFi industry. It is a blockchain that is similar to Ethereum but has its own vibrant ecosystem of users and developers. Even simpler to program for than Ethereum, Solana’s primary benefit over its larger competitor is a charge structure that is far cheaper than Ethereum’s. Solana’s transaction fees are already incredibly low in comparison to Ethereum’s steep transaction tax,despite the fact that Ethereum already has a strategy in place in attempts to lower its transaction fees, which are often referred to as Ethereum gas prices. Therefore, Solana will have an advantageous handicap to catch up to Ethereum until the latter significantly lowers its transaction fees, which isn’t anticipated to happen until at least 2023. The price of a single Solana coin is now hovering around $34, which places it marginally above its 52-week low of $26.06 but orders of magnitude behind its 52-week high of $260.06.

Avalanche

The Avalanche blockchain, which claims to be the world’s fastest platform for smart contracts, has its own native currency called AVAX. The vision that Avalanche has for its platform is to make it into something akin to Amazon Web Services in the cryptocurrency world. AWS, which stands for Amazon Web Services, is the most successful cloud computing firm in the world. It is a branch of Amazon.com Inc., which trades under the ticker symbol AMZN. Amazon Web Services (AWS) is used to power the online operations of many financial institutions as well as big worldwide organisations. Avalanche’s vision for the future is one in which every commercial entity will want to build their own blockchain, and the company’s goal is to do the same thing for this technology, just like the CIOS is attempting to tackle cybersecurity challenges from emerging technologies. Because of a relatively recent addition to the platform known as subnets, Avalanche is in a position to uniquely foster such a development. Even though a market cap of $5 billion is completely ordinary in the stock market, it is enough for Avalanche to be ranked among the top 20 cryptocurrencies. AVAX is currently trading around $17, with a trading range of $13.79 to $146.22 over the past 52 weeks.

Conclusion

You will need to do your research before picking which cryptocurrency to put your money into as there are over 1300 different cryptocurrencies that are available for purchase. Customers of the overwhelming majority of cryptocurrency exchanges that are currently operational will only have access to a restricted number of opportunities to invest their money, but when considering the list of tokens we included above, now is a great time. It is crucial that you set aside some time to examine which cryptocurrencies most spark your interest in order to get the most out of your time spent doing this. We hope that this article was helpful in pointing you in the direction of some of the greatest cryptocurrencies on which to make an investment, particularly during times of extreme volatility such as those that can be seen this year. Good luck to all!