Top 10 Cryptocurrency Picks To Own Over the Next 12 Months: Deaton

Lawyer and cryptocurrency enthusiast John Deaton shared his top 10 token picks on X today. According to the post, Deaton would choose to hold Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Quant (QNT), Render (RNDR), Solana (SOL), Kaspa (KAS), Avalanche (AVAX), Hedera (HBAR), and Casper (CSPR).

If you had to pick only 10 tokens to own for the next 12 months (as a trade) what are they? Here’s mine:

BTC
XRP
ETH
QNT
RNDR
SOL
KAS
AVAX
HBAR
CSPR

What am I missing?

— John E Deaton (@JohnEDeaton1) November 22, 2023

Bitcoin (BTC)

The global cryptocurrency market cap took a 2.24% hit over the past 24 hours of trading, and BTC’s price certainly reflected this. At press time, CoinMarketCap indicated that BTC was worth $36,442.51 after its price slipped by 2.56%. Throughout the past day, BTC also ended up dipping below the $36K mark to set a 24-hour low price of $35,670.97.

Ripple (XRP)

XRP suffered a very similar fate as its price ended up dropping by over 3% in the past day. This left the remittance token trading hands at $0.5906. This price drop caused XRP’s weekly performance to decrease to -6.20%.

However, there have been some rumors in the cryptocurrency community that the U.S. megabank J.P. Morgan bought 7.5 million XRP tokens. An increase in institutional investors like this could be a good sign for the altcoin.

Ethereum (ETH)

The largest altcoin by market cap, ETH, also saw its price fall by 1.26% since yesterday. This meant that the token’s value dropped to about $1,993.36. ETH’s 24-hour trading volume rose by 12.74%, causing it to rise to $14,614,057,648, but this increase could likely be attributed to selling volume.

Quant (QNT)

QNT was trading at $99.33 after it experienced a 0.86% price dip in the past day of trading. This pushed down its weekly performance to -3%. The altcoin reached its all-time high price of $428.38 in September of 2021, but its price has retraded by more than 77% to trade at its current level.

Render (RNDR)

RNDR, on the other hand, saw its price rise by 1.06% throughout the past 24 hours, which is pretty significant considering the big knock that the global market cap took. As a result of its price success, RNDR was worth about $3.40.

The recent developments at OpenAI and the increase in the prices of AI-based tokens could be one of the main reasons why RNDR caught the attention of Deaton. Also, in just the past week, RNDR’s price has increased by almost 50%.

Solana (SOL)

Meanwhile, SOL was one of the top 10 tokens by market cap that suffered the most over the past few days. In addition to its price slipping by 3.99% in the past seven days, its price also took a 4.75% dive over the past 24 hours, causing it to trade at around $54.85. However, SOL’s price was still up by 86% on its monthly time frame.

Kaspa (KAS)

KAS secured a spot on CoinMarketCap’s trending list, but not for the reason most traders may be hoping for. Since yesterday, the altcoin’s price slipped by 4.67%. Nevertheless, KAS’ weekly performance was still firmly set in the green zone at +42.64%. Its positive +153.98% monthly performance could also be what caught Deaton’s eye.

Avalanche (AVAX)

Considering the carnage in the rest of the market, AVAX’s slight 0.84% price drop did not deliver too big of a blow to the price of the token, as it was trading hands at $20.83 at press time. AVAX also set a high price of $22.18 during this time.

Deaton is not the only person interested in AVAX either. Colony Lab, a developer and investor in the Avalanche ecosystem, has announced a $10 million investment to support the long-term growth of the network.

Hedera (HBAR)

HBAR also took a big 6+% price knock in the past 24 hours, causing its value to drop to $0.06027. Unfortunately for HBAR holders, this price dip came mere days after Binance Japan announced that it would list the token after receiving approval from the Japan Virtual and Cryptoassets Exchange Association (JVCEA).

Casper (CSPR)

Lastly, CSPR was the only token singled out by Deaton that did not form part of the top 100 cryptocurrency tokens by market cap. The altcoin also stumbled over the past day, as its price fell by over 5% to trade at $0.03257 at press time.

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