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Cryptocurrencies have done well this year, with November being their best month so far. Bitcoin is a few points below $100,000, and a move above that will likely lead to more gains in the next few months. This article looks at some of the best crypto coins to stake if you want to generate 12% and above returns.
A review of the best crypto coins to stake
The best cryptocurrencies to stake have a few things you should have in mind. First, they should have a high staking yield, which will determine the amount of money you will make. A coin with a 10% staking yield means that you will make at least $1,000 if you have $10,000 invested in it.
Second, it is ideal to stake coins that have little dilutive power through regular unlocks. When new coins are unlocked, they usually move to the staking pool, reducing the overall returns that people earn.
Third, you want a coin that is backed by a strong ecosystem or one that is highly thematic, which will help to boost its price. So, here are some of the best crypto coins to stake ahead of the altcoin season.
Binance Coin | BNB
Binance Coin is the cryptocurrency that powers the BNB Smart Chan, which is one of the most vibrant in the industry. For example, BNB has a total value locked (TVL) of over $5.58 billion, making it the fourth-biggest chain in the industry. Its network also has over $6 billion in stablecoins.
Also, the BNB Chain is the fourth-biggest chain in the DEX industry, where it handled over $8.9 billion in assets in the last 7 days. Binance Coin has a high staking yield of 12.3% and is aggressively burning BNB coins. Its goal is to bring the total coins in circulation from 144 million to 100 million over time.
Therefore, there are chances that the staking yield will keep growing because the fees collected by the network is growing. On top of this, BNB price has strong technicals as it has moved above all moving averages and formed a cup and handle pattern pointing to a jump to $1,000 soon.
Mantra | OM
Mantra is one of the best crypto coins to stake because of its strong performance and staking rewards. The OM token has a staking yield of almost 30%, meaning that one will make about $300 if they invested $1,000 in it.
Mantra is a network that has created a chain for Real World Asset (RWA) tokenization, an industry that is expected to have robust growth over time. This is a big industry that is expected to continue growing in the next decade.
Mantra’s token has strong technicals as it is currently forming a falling wedge and a bullish flag chart pattern. If this happens, it will bounce back to over $5 in the near term.
Cosmos | ATOM
Cosmos is another altcoin to stake and generate robust rewards. ATOM has a staking yield of 21.5% and a staking ratio of 51%, meaning that most coins in the ecosystem are being staked.
Cosmos also has strong technicals since it has jumped by over 125% from its lowest level in August. As shown below, it is forming a bullish pennant chart pattern, which is made up of a long vertical line and a symmetrical triangle.
Cosmos is also about to form a golden cross chart pattern, which happens when the 50-day and 200-day moving averages cross each other. This pattern often leads to strong gains, which, in this case, could push it to $14.50, the highest point his year, which is about 78% above the current level.
Bittensor | TAO
Bittensor has become one of the top AI cryptocurrencies this year as its market cap jumped to over $4.52 billion. Its growth happened because of the ongoing demand for AI assets as evidenced by the popularity of NVIDIA, the biggest company in the world.
Bittensor is an ideal altcoin to stake because of its high reward rate of 18%. It also has strong fundamentals. Technically, the coin seems to be in an accumulation phase, which will ultimately lead to a strong bullish breakout in the near term.
Polkadot | DOT
Polkadot is another top crypto coin to stake for double-digit returns. It is a leading player in the crypto industry that lets developers launched their parachains. Some of the top dApps on the Polkadot ecosystem are Acala, Moonbeam, Astar, and Phala Network.
Polkadot has a staking yield of 11.85% and a staking ratio of 52%. Also, the DOT price has continued rising and has more room to run now that it has formed a golden cross pattern, which is a highly popular bullish sign.
Some of the other top altcoins to stake are Celestia (TIA), which has a staking yield of 10.6%, Injective (INJ) of 10.72%, and ALEO’s 26%.
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