thecryptobasic.com
Karan, the founder of the NFT project Alpha Husky Club, has disclosed the top five cryptocurrencies in his crypto investment portfolio for this bull run.
The crypto community eagerly awaits the second phase of this season’s bull rally, and notable figures continue to disclose crypto assets they hold to position for the buoyant market. Karan has joined the roster of commentators who shared insights into their crypto portfolios.
At the top of his holding is XRP, the seventh-largest crypto by valuation. XRP is the only crypto asset among the top ten ranking assets in the market that Karan holds for this bull run. Other assets making up his portfolio are low-cap crypto projects.
Specifically, the crypto influencer holds Flare (FLR), WadzPay (WTK), Hedera (HBAR), and Algorand (ALGO).
My top 5 crypto's I hold for the this bull run:$XRP$FLR$WTK$HBAR$ALGO
RT 🔄 IF YOU HOLD ONE OF THEM!
— 👑 𝕂𝕚𝕟𝕘 𝕂𝕒𝕣𝕒𝕟 👑 (@KingKaranCrypto) May 16, 2024
Notably, Karan did not specify what drove his choice of these assets. Yet, it is inferable that their current and past performances, along with their unique roles in the blockchain industry, likely influenced his decision.
The Case for Holding XRP
For instance, XRP remains a favorite asset in the crypto scene given its utility in payment and settlement transactions. Moreover, in the 2017/2018 bull season, XRP was one of the best-performing assets as it delivered returns of 750X in less than a year for holders.
This impressive history is often used by analysts to forecast XRP’s potential in the current season.
However, XRP’s more recent price history has been underwhelming, dampening optimism about its potential this season. For instance, in the first phase of this season’s bull rally, XRP was outperformed by 61 assets among the top 100 tokens by market cap.
Nonetheless, market observers hold that XRP’s moment is yet to arrive, similar to the 2017/2018 season, when its explosive surge came at the very end of the bull run frenzy.
The Case for Holding FLR, WTK, ALGO, HBAR
Meanwhile, Karan’s two other assets—FLR and ALGO—show similar lackluster performance.
FLR is down 13% over the last 30 days. Investors who have held this token since last year currently hold it at a 0.14% gain, essentially at zero profit. Conversely, those holding FLR since its 2023 launch have suffered losses exceeding 65%.
Similarly, the earliest ALGO investors shoulder a more staggering loss of 94% with the asset’s price at $0.1794. Meanwhile, those who bought ALGO a year ago made profits of only 6.5%.
On the other hand, WTK and HBAR, which Karan holds for the coming bull run, are notable performers in recent times. HBAR preserves positive gains across its seven-day, 30-day, and one-year timeframes. Likewise, WTK retains a more substantial 164% gain since last month and a 229% return since last year.