The global market cap for cryptocurrencies reached an almighty $1.84 trillion this week — an incredible feat.
To put this into scale, the global telecommunications market — 5G tech and all that jazz — is only valued at $1.74 trillion, the global food market is valued a bit more at $5 trillion, and the value of the ENTIRE U.S. stock market is $98 trillion.
In the short time they have existed, cryptocurrencies have become the most explosive, fastest-growing industry in history. Here’s a snapshot of the 10 most valuable tokens by market cap today:
That’s a lot of money invested in a space only a few truly understand — folks like myself and my colleagues at Energy and Capital.
When Bitcoin soars to ever-higher record gains — which I believe it inevitably will — a lot of people are going to make A LOT of money.
And it won’t only be Bitcoin owners enjoying their newfound riches. The rest of the space will soar too, and many alternative coins will become extremely valuable assets…
Perhaps even more valuable then Bitcoin.
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A Crypto’s Worth Comes Down to Utility
The derived value of a cryptocurrency comes from its utility. In Bitcoin’s case, the world’s most popular crypto has established itself as a very useful store of wealth, a useful investment vehicle, and a useful blockchain that offers many solutions to our current cybersecurity problems.
Other cryptocurrencies provide utility in different ways. One crypto, Power Ledger, functions as the operating system for new energy markets, enabling tracking and trading of energy, flexibility services, and environmental commodities. Users who contribute to the grid receive crypto, which can be converted to cash or used for energy credits later on.
Cardano, another popular alt-coin, is a cryptocurrency co-founded by Charles Hoskinson, one of Ethereum’s five initial founding members. This network has been touted as the Ethereum killer, and while I think it’s quite a stretch to make that claim, the Cardano network is noted as having some of the best decentralized transaction security protocols of any blockchain network; the basis of this technology could find its home very nicely in the global financial market.
Another inventive crypto provides incentives to advertisers by creating better targeted ad campaigns. It does this with a proprietary algorithm that finds “qualified audiences,” i.e., people more likely to purchase the advertiser’s products. It also incentivizes the consumer by providing crypto to those who view the ads featured on the network.
In short, the possible use cases for the various cryptocurrencies and blockchain networks are endless at this point, which means there are dozens if not hundreds of other cryptocurrencies out there that provide viable investment opportunities.
The More You Know, the Richer You Could Be
Now, don’t get me wrong. You can’t just throw cash into any old cryptocurrency and haul in big returns. As with all popular ideas and great opportunities, there are a lot of swindlers and snake charmers out there looking to steal your money with the latest and greatest crypto promise that will never come to fruition.
In the grand scheme of things, this is normal. Get-rich-quick shysters circle around the uninformed when it comes to any type of investing. I have very smart family members who have lost thousands of dollars in retirement funds because they believed in a slick-talking fund manager.
When it comes to making the most out of your crypto investing, knowledge is key, which is why my colleagues and I are here for you — to provide trustworthy information or find the trustworthy folks who have the information we need to make the right investments in the cryptocurrency space.
Take for instance my colleague and market analyst Chris DeHaemer, whose followers claimed their first stakes in crypto in its earliest days.
You see, Chris first recommended Ethereum at $96… and Bitcoin at $449. Readers that put as little as $7,000 into each of those plays and held through recent highs could have made over $1.16 MILLION.
The proof is in the profits, and the profits come from finding the cryptocurrencies and blockchains that have true utility.
And in a new special bonus report on the best ways to invest in cryptos beyond Bitcoin and Ethereum, my colleague Chris covers them all…
Including offering the six most explosive cryptos that you haven’t heard of yet but could make you wildly rich.
To your wealth,
Sean McCloskey
Editor, Energy and Capital
@TheRL_McCloskey on TwitterAfter spending 10 years in the consumer tech reporting and educational publishing industries, Sean has since redevoted himself to one of his original passions: identifying and cashing in on the most lucrative opportunities the market has to offer. As the former managing editor of multiple investment newsletters, he's covered virtually every sector of the market, ranging from energy and tech to gold and cannabis. Over the years, Sean has offered his followers the chance to score numerous triple-digit gains, and today he continues his mission to deliver followers the best chance to score big wins on Wall Street and beyond as an editor for Energy and Capital.
