In today’s fast-paced and dynamic world, diversifying investments is a common strategy among investors. The crypto market is no different, and diversification is becoming increasingly essential in this space. Ethereum is one of the most popular cryptocurrencies globally and is often used as the main asset in many portfolios. However, with the emergence of several Ethereum alternatives, investors now have more options to diversify their portfolio. In this article, we will explore Ethereum alternatives available on MEXC, a leading cryptocurrency exchange, and how they can help you diversify your crypto portfolio.
What is Ethereum & its Price?
Ethereum is a blockchain-based decentralized platform that enables developers to build decentralized applications (dApps) using smart contracts. It is the second-largest cryptocurrency by market capitalization, with a current market cap of over $220 billion, according to CoinMarketCap. As of May 14, 2023, Ethereum’s price is $1,802.30, which is subject to fluctuations based on market conditions.
Why Ethereum is Good as a Main Asset in the Portfolio?
Ethereum has gained widespread adoption due to its versatility, security, and scalability. Some of the reasons why Ethereum is an excellent investment for a diversified portfolio are:
- It is the foundation of the decentralized finance (DeFi) ecosystem.
- It is the primary blockchain used for non-fungible tokens (NFTs).
- It has a large and active development community.
- It is compatible with most wallets, exchanges, and dApps.
As of today, Ethereum is priced at $1,801.98 USD and has a 24-hour trading volume of $4,348,224,824 USD. It’s worth noting that the price of Ethereum fluctuates frequently, so investors should keep an eye on market trends to make informed decisions. Ethereum is currently ranked #2 by CoinMarketCap and has a live market cap of $221,557,205,088 USD. The circulating supply of Ethereum is 122,951,966 ETH coins. You can find the best ethereum price usd on MEXC!
Ethereum Price USD
Here is a table of historical Ethereum prices in USD:
|Date||ETH Price (USD)|
|May 14, 2023||1,800.00|
|May 13, 2023||1,766.61|
|May 12, 2023||1,746.31|
|May 11, 2023||1,832.49|
|May 10, 2023||1,879.84|
What are the Alternatives to ETH?
While Ethereum is a popular choice for cryptocurrency investors, there are several alternatives available that can help diversify your portfolio. Here are some of the top Ethereum alternatives available on MEXC:
Solana is a high-speed, low-cost blockchain that uses a unique proof-of-history consensus algorithm to achieve fast transaction times and low transaction fees. Solana can process up to 65,000 transactions per second, making it one of the fastest blockchains on the market. The SOL token is used to pay for transactions on the Solana network and can also be used to stake and earn rewards.
Polkadot is a multi-chain platform that allows different blockchains to communicate with each other. Polkadot’s main feature is its ability to connect different chains, creating a network of interoperable blockchains. The DOT token is used to participate in the governance of the Polkadot network, and holders can stake their tokens to earn rewards.
Avalanche is a platform that offers high-speed, low-cost transactions and supports the deployment of smart contracts and decentralized applications. The AVAX token is used to pay for transactions on the Avalanche network and can also be staked to earn rewards.
While there are many other alternatives to Ethereum available on MEXC, these three are some of the most popular choices among investors.
Which is the Best Token for dApps?
Decentralized applications, or dApps, are one of the most popular use cases for Ethereum and other blockchain platforms. When it comes to choosing the best token for dApps, there are several factors to consider, including transaction speed, scalability, and security.
While Ethereum is still the most popular choice for building dApps, other platforms such as Solana, Polkadot, and Avalanche offer faster transaction times and lower fees, making them attractive options for developers and investors alike.
Ultimately, the best token for dApps depends on your individual needs and preferences. It’s important to do your own research and consider all the factors before making any investment decisions.
As the cryptocurrency market continues to evolve, it’s important to consider diversifying your portfolio beyond just Bitcoin and Ethereum. MEXC offers a variety of alternatives to Ethereum that can help you achieve your investment goals and expand your portfolio. Whether you’re interested in high-speed transactions, interoperability, or other features, there’s an Ethereum alternative out there for you.
By exploring the different options available on MEXC and doing your own research, you can find the best cryptocurrency investments to suit your needs and goals.