The cryptocurrency industry has entered the mainstream after years of being sidelined. Global financial institutions had long turned their backs on the crypto space. This narrative has changed over the last few years. BlackRock, the world’s largest asset manager, has been hoarding Bitcoin (BTC) after it launched a spot BTC ETF last year. Other financial institutions are also following this trend.
Cryptocurrencies Dip Amid Volatility
The crypto market experienced quite a big price surge earlier this month. Bitcoin (BTC) hit an all-time high of $$111,814 on May 22. The original crypto’s price has since fallen by 5.7%. BTC is currently trading at the $105,000 level.
The latest cryptocurrency dip comes amid heavy market volatility. Price began to slide after a US court blocked President Trump’s tariff proposal. Investors may be anticipating more volatility in the days ahead. An appeals court has since allowed the tariffs to stay in place.
Also Read: Appeals Court Keeps Trump Tariffs, President Urges Supreme Court Action
While the market rally has slowed down, the crypto industry is expected to grow at an unprecedented rate over the next few years. Let’s look at three crypto assets that could become global industry standards in the near future.
Top 3 Cryptocurrencies That Could Become Industry Standards
1. Bitcoin (BTC)
BTC is the market leader. The original cryptocurrency is also one of the first to have broken the barrier between crypto and traditional finance. BTC will most likely become the gold standard for the crypto space.
2. Ripple (XRP)
Ripple’s XRP token is another cryptocurrency that could see a surge in global adoption. There is a high chance that the SEC will approve at least one XRP ETF this year. The XRP Ledger has also seen a steady rise in growth. XRP could become a strong contender to BTC in the future.
3. Solana (SOL)
Also Read: Cryptocurrency: 3 Coins Set To Soar Amid Recent Economic Shifts
SOL is awaiting the Firedancer update that will greatly improve its scalability. The network is projected to be able to undertake more than one million transactions per second after the update is complete. The high transaction capabilities could solidify SOL’s position as a global leader.