Top 3 proof-of-stake tokens to buy on December 2: Solana, Cardano, and Algorand.
- A lot of projects are transitioning to Proof-of-Stake due to its eco-friendly way of verification.
- Solana, Cardano, and Algorand are leaders in the PoS token market in terms of market cap.
- They are all worth buying on December 2, and this is why.
Solana SOL/USD uses a combination of Proof of History (PoH) and Proof of Stake (PoS) for quickly processing transactions, which makes it an eco-friendly blockchain network.
Cardano ADA/USD also uses PoS, which leverages the amount of stake held in the system with the goal of determining consensus. Its variation of PoS is known as Ouroboros, which is the first blockchain consensus protocol to be developed through peer-reviewed research.
Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.
Algorand ALGO/USD is an open-source, decentralized network that uses a two-tiered structure as well as a unique variation of the Proof-of-Stake (PoS) consensus mechanism to increase transaction speeds and achieve finality.
Should you buy Solana (SOL)?
On December 2, Solana (SOL) had a value of $222.
To get a better level of understanding as to exactly what kind of value point this is for the token, we will be going over its all-time high value as well as its performance in November.
The SOL token had its all-time high value on November 6, when its value increased to $259.96. At its ATH value point, SOL was $37.96 higher in value or by 17%.
Its lowest point of value in November was on November 28, when the token fell to a value of $185.93.
This means that the token fell in value from November 6 to November 28 by $74.03 or by 28%.
However, from November 28 to December 2, the token increased by $36.07 or 19%.
With this in mind, we can expect SOL to reach a value of $230 by the end of December, making it a solid buy.
Should you buy Cardano (ADA)?
On December 2, Cardano (ADA) had a value of $1.69.
To better understand what kind of value point this is for the token, we will go over its all-time high value as well as its performance in November.
ADA’s all-time high value occurred on September 2, when it reached $3.09. At its ATH value point, the token was $1.4 higher in value, or by 82% when compared to its value on December 2.
In terms of November’s performance, on November 9, the token had its highest value point at $2.33.
Its lowest point, however, was on November 28, when it fell to $1.46. Here, we can see that ADA decreased in value by $0.87 or by 37%.
However, from November 28 to December 2, ADA’s value increased by $0.23. With that in mind, we can expect ADA to reach a value of $2 by the end of December, making it a solid buy.
Should you buy Algorand (ALGO)?
On December 2, Algorand (ALGO) had a value of $1.86.
With the goal of indicating what kind of value point this is for the token, we will go over its all-time high value as well as its performance last month.
The highest value point of Algorand (ALGO) occurred on June 20, 2019, when the token reached the value of $3.56. Here we can see that at its ATH value point, the ALGO token was $1.7 higher in value or by 91% when compared to its value on December 2.
ALGO’s performance in November is interesting, as the token raised its value to $2.26 on November 12.
However, the token then fell to $1.59 on November 27. This is a decrease of $0.67 or 29%.
However, from November 27 to December 2, ALGO increased by $0.27 or by 17%.
With this in mind, we can expect ALGO to reach a value of $2.4 by the end of December, making it a solid buy.
Where to buy right now
To invest simply and easily, users need a low-fee broker with a track record of reliability. The following brokers are highly rated, recognised worldwide, and safe to use: