Solana (SOL), Litecoin (LTC), and Parody Coin (PARO) gain widespread interest among cryptocurrency traders. While Solana and Litecoin are established tokens, PARO is an upcoming token that could help to diversify your crypto portfolio.
We will look at these three coins and how each of them represents a unique opportunity to book sizeable returns in the future.
The Solana blockchain provides greater scalability through its unique Proof of History (PoH) consensus mechanism. It is a combined vibrant decentralised finance (DeFi) and NFT supporting network. The SOL token has slowly climbed higher in price as the Solana ecosystem gains support and adoption from the developer community.
The SOL coin is currently trading at $106.51 at the time of writing. The token has delivered gains of near 21100% up to date. It is currently available at attractive prices and can be added to realise potentially huge gains in the future.
Litecoin was designed as a response to Bitcoin’s (BTC) slow speed. It is identical to Bitcoin but provides better speed and more scalability. The LTC coin has seen tremendous growth and is currently exchanging hands at the price level of $110.7 at the time of writing. The all-time high price of LTC is at $410.26.
The Parody Coin is currently in the presale phase and can be purchased on their website. It is a meme token deployed on the BEP-20 Binance Smart Chain. The PARO token could potentially be a good investment to reap magnificent gains in the future as adoption takes place. It could mimic the success story of the other coins mentioned above.
The Parody Coin has been built as a token to support transactions inside the Paroverse, a combined ecosystem supporting NFT marketplace, Metaverse and blockchain network. The total token supply is capped at 300 million Parody Coins (PARO).
Recognising the utility of cross-chain swap and bridges, the Parody Coin will provide support for interoperability. The ParoSwap will enable easy transfers between different blockchains at the click of a button.
The native NFT marketplace of PARO will enable users to mint popular parody versions of NFTs. What’s exciting about this feature is that the original owner can choose to burn the original NFT and gain ownership of the parody version easily.
To ensure transparency, the Parody Coin project has requested a security audit from Certik. The result will be made public soon.
Another unique advantage of holding PARO token is the ability to secure a passive source of income. By simply holding PARO coins in your wallet, you will be entitled to receive 5% of the transaction tax (currently at 10%). So unlike other coins, you can gain more by merely holding the Parody Coin.
The PARO coin is deflationary meaning the supply will reduce over time. It is always a good idea to purchase coins like Parody coin early as the burn mechanism ensures the supply reduces over time thereby helping in increasing the price of the coin.
To provide users with more options, the PARO token reward mechanism will include rewards in any BEP-20 token of the user’s choice and not just the native token. So, users will get to diversify inside their wallet and gain different coins if they desire.
The above three tokens could provide a healthy cryptocurrency portfolio as they serve different sectors. While Litecoin is a good alternative to the original Bitcoin, Solana is developing into a decent ecosystem with huge adoption. The Parody Coin is cross-chain compatible and provides a source of passive income. As a cryptocurrency investor, you should try and build a portfolio that diversifies and reduces risk over time.