The SEC ruling on XRP as a utility and not a security is a huge step forward for the cryptocurrency industry. It provides clarity for investors and sets the stage for the XRP token to be seen as a legitimate asset for financial transactions. In the aftermath of the announcement investor confidence increased with an almost instant 70% increase in the price of XRP. This opens up numerous opportunities for developers and entrepreneurs in the cryptocurrency space concerning utility tokens with the favorable SEC ruling will encourage speculators to capitalize on a booming new market.
Utility tokens unlock the doorway to the larger world of digital ownership of goods and services, creating a revolutionary atmosphere for investors wanting to make their mark. With industry veterans and startup leaders, alike, jumping into the field, the potential for market growth and profit is astounding. Now is your chance to take advantage of this momentous and history-making opportunity. With this in mind, eight of the new contributors at Blockchaintips have each selected their top pick of upcoming utility tokens to watch and why exactly it is that they are so excited:
Basic Attention Token (BAT)
The Basic Attention Token (BAT) is a good investment opportunity for a number of reasons. Primarily, the token is designed to be a utility token for the Brave browser, a web browser for Android and iOS that blocks trackers, intrusive ads, and phishing attempts to ensure secure and private browsing. This creates an immediate demand for the token and means that it has real-world usage.
Additionally, BAT is relatively new and is still in its early days, so there is a great opportunity for early adopters to get in on the ground floor before the mainstream jump on the bandwagon. With increasing privacy concerns and the rise of AI in data mining, the Brave browser is likely to continue to grow, with the demand for the token also increasing.
We believe that this will help in ensuring its long-term price appreciation. Finally, BAT has a multitude of other purposes, e.g. It can be used to pay for premium content, boosting demand further and further.
FileCoin (FIL) is a good investment opportunity for a number of reasons.
First, FileCoin is built on the Interplanetary File System (IPFS) protocol of distributed storage, which is a more efficient way to store and share data. By incentivizing users to store data in the network, FileCoin provides a better platform than traditional cloud storage networks like Amazon S3 or Google Cloud Storage, resulting in lower storage costs. In short, it has a competitive advantage over current industry leaders.
Second, FileCoin is an open-source platform and there is a considerable amount of developer activity. This means that the platform has the potential to provide an increased level of adoption of its features and applications. As more users build on top of the technology, adoption will increase.
Finally, FileCoin has strong potential for long-term growth. FileCoin’s token, FIL, is both a tool for incentivizing data storage and a token with intrinsic value due to its use on the FileCoin network. As the network grows and more people are incentivized to store data in it, this could potentially drive an increase in demand for FIL and lead to a higher price in the future. We are very confident in this one.
This one barely needs any explanation. ChainLink (LINK) is a good investment opportunity because of its potential as a blockchain technology that can be integrated into existing systems to bring about secure, reliable, and robust data transfer and making transactions on blockchain networks. TLDR, LINK improves existing use real-world use-cases.
ChainLink also enables users to create and deploy their own smart contracts, which adds an extra layer of reliability to transactions. Finally, ChainLink has seen massive demand from institutional investors and has already gained strong support from a wide range of non-blockchain entities. All these factors make LINK a great long-term investment opportunity with many potential applications. If the smart money is backing them, that tells us everything.
Tezos (XTZ) is a decentralized open-source platform that advertises itself as ‘the self-amending ledger.’ It offers a secure protocol for the deployment of smart contracts, digital assets, and even decentralized applications. It has become a popular choice for stakeholders, developers, and cryptocurrency investors because of its self-amending governance model, secure, cutting-edge technology, and low transaction fees.
The integration of modern smart contract functionality into a decentralized platform makes it a one-of-a-kind asset. Furthermore, its inflationary staking mechanism creates an additional source of yield for investors, making it an appealing crypto investment opportunity.
As the yield opportunities attract more parked funds, the price will only increase. We consider this a very safe long-term proposition with a lot of benefits.
CIVIC CVC is a great investment opportunity because it is a well-established, profitable online identity management platform that is built on one of the most advanced blockchain platforms today, Ethereum.
CIVIC also provides a secure, reliable, and high-throughput solution for identity verification, which is becoming increasingly important in today’s world. With the rising demand for online data and identity verification services, CIVIC CVC is well-positioned to take advantage of the growing need for such solutions. With its low-cost solution, CIVIC CVC also offers great value to investors looking for potential returns on their investments.
With ever-increasing KYC requirements across multiple industries, CIVIC has almost unlimited potential applications and can increase astronomically.
We believe that Synthetix (SNX) is an attractive investment opportunity because it has a unique decentralized finance (DeFi) protocol that offers a wide range of synthetic asset-backed tokens that provide exposure to various financial markets.
SNX can enable users to trade a wide range of on-chain assets at low costs, and its innovative protocol also has the potential to disrupt many traditional financial services because of its improved liquidity, automated market making, decentralized trading, and decentralized custody services.
For investors, this could mean financial freedom, as SNX can provide access to various markets with impressive cost savings. Additionally, SNX is widely held across various DeFi protocols, which makes it highly attractive for investors looking to diversify their portfolios. In the worst-case scenario, it will add diversity to your portfolio. In the best-case scenario, the potential upside is astronomical.
Tratok (TRAT) interests us for a number of reasons. First, the hospitality disruptor is backed by an experienced team with a proven track record in the fields of banking, fintech, hospitality, and blockchain technology.
Secondly, the privately funded company has shown resilience and survived Covid-19 to emerge with a fully working ecosystem, significant partnerships, and successful real-world proof of concept tests.
Finally, differentiating Tratok from others on this list, the token is just one element powering their blockchain ecosystem that also leverages AI and metaverse technology to provide all stakeholders with superior benefits.
Leveraging these game-changing technologies in the outperforming hospitality sector are just some of the factors making TRAT an opportunity too good to pass up, as the project is likely to continue development, see increased adoption and soar in value following a full launch.
Aragon (ANT) is an innovative, decentralized software platform that allows anyone to easily create and manage their own digital organization. The platform is powered by Ethereum and allows users to securely and seamlessly create and manage their organizations without the cost and complexity of centralized legal structures.
The platform lets users manage everything from salaries and hiring to budgeting and taxes through decentralized applications.
In addition, Aragon enables users to raise funds in the form of new tokens, access global markets, and manage their contracts and assets in a decentralized way. By using advanced technologies such as Ethereum, Aragon is a promising platform that offers scalability, security, transparency, and immutability, making it an attractive investment opportunity.
As the world becomes increasingly reliant on digitization, the potential for ANT will only increase with time.
That concludes our list of utility tokens which we feel represent amazing potential value for our readers. If you take anyway one thing for this it should be that investing in utility tokens can be a great way to benefit from the rise of digital applications and services. It is important to do your homework and identify quality projects that have the potential for growth in the future. With the right research, you can make informed decisions about how to diversify your portfolio with utility tokens. They offer cost-effectiveness, liquidity, versatility, and the potential for long-term value appreciation. Investing in utility tokens can help you participate in the digital transformation taking place and create long-term value.
Disclaimer: The information in this assessment is solely the opinion of the authors, and is not intended to be investment advice. Furthermore, the authors may own some of the tokens mentioned in this assessment, and these are for informational purposes only and should not be seen as investment advice.