Reddit is one of the most popular platforms for cryptocurrency investors. The microblogging platform offers investors a space to gather and discuss strategies, share investment tips, and much more. With Reddit’s investment advice making many traders wealthy, many investors are looking for the top Reddit cryptos for maximum yields.
1. Lucky Block (LBLOCK)
Leading our list of the top Reddit cryptos is LBLOCK – the native token for the Lucky Block blockchain. Investors have been enamored with Lucky Block for months now, and the impressive growth in its ecosystem has spurred positive investor sentiment.
LBLOCK currently trades at $0.0018 – down 2.05% in the past 24 hours. Although the digital asset is currently on a downtrend, it is up over 900% from its listing price of $0.00020.
On Reddit last week, the trending news was that Lucky Block had signed an ambassador deal with heavyweight boxing bigwig Dillian Whyte. The British boxer even spotted Lucky Block gear in his pre-match conference over the weekend where he lost to heavyweight champion Tyson Fury. As awareness continues to grow for this asset, investors believe that it has a very bright future.
2. Bitcoin (BTC)
Currently, Bitcoin trades at $38,883 – down by 1.43% in the past 24 hours. The asset’s drop has been sparked by a rise in the U.S. dollar as the U.S. dollar currency index (DXY) appears to be continuing its uptrend after hitting a two-week high last week.
Despite this, the majority of the Bitcoin conversations on Reddit are from investors who are willing to buy the dip. With institutions like MicroStrategy and the Luna Foundation Guard (LFG) also committing to buying BTC, there is some hope for a possible rebound.
3. Terra (LUNA)
Closely tied to Bitcoin is LUNA – the platform token for the Terra stablecoin ecosystem. Terra is looking to enable the easy creation of stablecoins, and it employs a complex strategy to maintain asset pegs.
Last week, Terra’s native UST stablecoin flipped the Binance Dollar (BUSD) to become the third most valuable stablecoin in the market. This rise has set off a bullish drive for Terra, and LUNA has benefited from that as well.
While most other large-cap coins are seeing significant drops, LUNA is trading at $89.91 – down just 0.67% in 24 hours.
4. Ether (ETH)
Ether currently trades at $2,863 – down 1.68% in the past 24 hours. The asset’s performance isn’t surprising since it is a major coin. Regardless, there is a lot of optimism about ETH once the market flips bullish.
Ether also has some strong bullish sentiment thanks to the upcoming Ethereum Merge. The Merge will be the last step towards the Ethereum blockchain’s transition to proof-of-stake (PoS), and it is expected to happen later this year.
5. Axie Infinity (AXS)
Next on our list of the top Reddit cryptos is AXS. The asset is the native token for Axie Infinity- one of the most popular blockchain gaming platforms. While it was one of the best performers last year, AXS has struggled in 2022.
Things got much worse weeks ago when Axie Infinity’s Ronin Bridge was hacked to the tune of $622 million. While the news was bad, Axie’s developers have so far recovered. They raised $150 million to reimburse victims, and they’ve already seen some progress with recovering some of the stolen funds.
This mixed market sentiment is part of what has caused AXS to slip to $41.09 – down by 7.34% in the past 24 hours.
6. Dogecoin (DOGE)
The leading meme coin DOGE essentially owes its popularity to Reddit. Back in 2021, the Reddit meme stock frenzy spilled into crypto, and several coins began to see massive surges. DOGE was the chief beneficiary of ths frenzy, and it has been a favorite of Reddit investors since.
DOGE currently trades at 0.13 – a healthy jump of 4.17% in the past 24hours. The jump appears to be due to progress with Elon Musk’s Twitter bid. The billionaire – and one of the biggest proponents of DOGE – made a bid for the social media giant two weeks ago, and recent reports suggest that the company’s board might accept the offer. With Twitter’s stock on the rise, DOGE could be in for more gains if this deal closes.
7. Shiba Inu (SHIB)
SHIB is another asset that owes a great deal of its success to Twitter. A leading meme coin in its own right, the self-proclaimed Dogecoin killer went a long way in the past year.
However, while the SHIB frenzy began on Reddit, the asset has gone on to carve a niche for itself in the market. This week, the Shiba developers launched a burning portal that will help reduce the coin’s supply and offer passive income opportunities to investors.
In less than a day since the protocol launched, 8 billion SHIB has already been burned. Burn Dashboard reports that 410 trillion SHIB – about 41% of the asset’s supply – has already been burned. As the asset becomes more deflationary, it should see even better price gains.
SHIB currently trades at $0.000023 – down by 1.47% in the past 24hours.
8. XRP (XRP)
XRP is the crypto market’s standard for cross-border payments. While the asset has performed relatively well this year, it remains limited thanks to a securities fraud case between its developer – Ripple Labs – and the Securities and Exchange Commission (SEC).
Last week, however, Ripple chief executive Brad Garlinghouse noted that he was fairly confident of the case’s progress and their ability to score a victory. Redditors remain committed to the outcome of the case.
XRP trades at $0.6699 – down by 4.15% in the past 24 hours.
9. Cardano (ADA)
ADA is the native token for the Cardano blockchain – one of the most popular blockchains in the world at the moment.
Following last September’s Alonzo hard fork, the blockchain has become a home for developers. With the blockchain’s numbers improving, Reddit investors remain confident that there’s a lot of untapped potential here.
Last week, Cardano’s developers confirmed that there are now 900 projects in development on the network. This is a gain of 400 in just a month. As more developers flock to Cardano, Redditors believe that the ADA price will make much bigger gains down the line.
ADA currently trades at $0.8590 – down 3.05% in the past 24 hours.
10. Avalanche (AVAX)
Rounding out our list of the top Reddit cryptos is AVAX. The asset underpins the Avalanche blockchain -a high-performance blockchain looking to rival Ethereum.
Trading at $70, AVAX is down by 2.11% in the past 24 hours.
Positive sentiment has been driving AVAX lately. Last week, the asset’s developer – Ava Labs – was reported to have raised $350 million at a $5.2 billion valuation. With the Avalanche blockchain also holding over $14 billion in assets, Reddit investors believe that AVAX would see an uptrend once the market flips bullish.