2 prime cryptocurrencies prepared for a bull run – the Motley Idiot

Do you want a cryptocurrency that can hit the market for years to come? Look no further than The sandpit (CRYPTO: SAND) and Cardano (CRYPTO: NO). Both assets appear to be geared towards long-term success as they build leadership roles in blockchain-based metaverse and decentralized application development.

1. The sandpit

The Sandbox is up an incredible 110% in the last 30 days and is already on a bull run. And while cryptocurrency valuations are notoriously volatile, the metaverse-focused token of this project can sustain a great rate of growth thanks to its early mover advantage and potential use cases as the cornerstone of a decentralized virtual world.

Flaming stock chart is moving up

Image source: Getty Images.

The Metaverse is a potential iteration of the next generation of the Internet that will support networked virtual realities. And it could transform industries like gaming and social media by making them more immersive. The Sandbox aims to seize this opportunity by creating a blockchain-based platform on which players can “build, own, and monetize” gaming experiences – similar to what the publicly traded video game company does Roblox.

The sandbox also allows users to purchase virtual properties known as “LAND” in their metaverse. Ownership is recorded through non-fungible tokens (NFTs), which are digital records stored on the blockchain.

While blockchain projects should be viewed with sound skepticism, The Sandbox is making impressive strides. On November 29, the platform launched the alpha version of its virtual world, which offers 18 game experiences and will run until December 19. Its developer Pixowl (a subsidiary of Hong Kong-based game developer Animoca Brands) also has hands-on experience developing mobile games (the Sandbox franchise) for Android and Apple IOS, which adds to its credibility.

2. Cardano

With a market capitalization of $ 51 billion, Cardano is the sixth largest cryptocurrency in the world – and for good reason. It aims to rival Ethereum to attract user-created autonomous programs called decentralized applications (dApps) and offers better speed and scalability than its bigger rival.

DApps dramatically increase the potential of blockchain technology beyond simply storing and transferring values. They enable use cases that range from decentralized cryptocurrency exchanges to funding platforms that allow investors to borrow and lend their cryptocurrency holdings. Cardano’s dApps use the network’s native token (ADA) to interact and pay fees on its network, so they directly impact the demand for the asset and its valuation.

Cardano enabled smart contracts (self-executing programs for creating dApps) through its Alonzo upgrade in September. And it can take several years for the platform to have a well-developed dApp ecosystem like its bigger rival Ethereum, which is home to over 3,000 projects. But Cardano wants to bridge the gap by offering superior functionality.

Unlike Ethereum, which uses a cumbersome proof-of-work (POW) protocol where miners solve puzzles to validate transactions, Cardano uses a proof-of-stake system called Ouroboros. This is where the authority to validate transactions comes from the possession of Cardano’s tokens.

Cardano’s miners update the blockchain with existing coins, which is faster (Cardano can process 257 transactions per second, compared to Ethereum’s 15-20) and less polluting than POW systems. Ethereum plans to switch to PoS at some point, but it’s unclear when it will, which makes Cardano a compelling platform for dApp developers who prioritize speed and scalability.

Betting on basics

It can be tempting to jump on flashy cryptocurrencies that are based on speculation rather than fundamentals. But in the long run, these coins tend to end badly when the hype subsides. The Sandbox and Cardano have better chances of sustaining their healthy growth rates because of their innovative use cases and technical advantages.

This article represents the opinion of the author who may disagree with the “official” referral position of a premium advisory service from the Motley Fool. We are colorful! Questioning an investment thesis – even one of our own – helps us all reflect critically about investing and make decisions that will help us get smarter, happier, and richer.


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