While the Stock Market Might is Closed For the Holidays, These 3 Cryptocurrencies are Soaring

These three cryptocurrencies are some of the best you can buy for the long haul, and each had a strong performance over the weekend.

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Over the weekend and throughout this week, the stock market will be closed many days for the holidays. Today the stock market is closed in lieu of Christmas. However, because the cryptocurrency industry trades 24/7, over the weekend several top cryptos continued to soar.

Because the blockchain industry is essentially run by computers and code, there is never a need to close markets for the holidays, which means investors can continue to trade at all hours of the day, no matter what day it is.

By 8 a.m. Monday morning, several cryptocurrencies had posted impressive gains over the weekend. Here are just three of the top gainers.

Polygon continues to be a top cryptocurrency to own

Several of the top gainers over the weekend were some of the best cryptocurrencies that you can buy for the long haul. One of those is the Polygon network which has the native token MATIC.

MATIC has been performing exceptionally well lately, as many investors look for high-quality substitutes for Ethereum’s main network, which still has a tonne of drawbacks. And over this weekend, MATIC continued its strong performance.

At 1 o’clock on Friday when the TSX closed for the holidays, MATIC was at a price of roughly US$2.55. By this morning at 8 a.m., though, MATIC had rallied to US$2.86. That’s a gain of more than 10% over just a couple of days and all while the stock market is closed.

That’s not all, though. Over the last seven days, MATIC boasts a more than 35% gain as it continues to become more popular, and is now the 14th most valuable cryptocurrency.

So, if you’re looking for a high-potential cryptocurrency that you can hold for the long haul, MATIC is one of my top recommendations.

Cardano continues to be one of the top cryptocurrencies outpacing the stock market

Another blockchain that’s out to take over from Ethereum is Cardano, which has the native token ADA. Cardano is one of the most popular Ethereum competitors, and already it’s the sixth most valuable cryptocurrency with a market cap north of US$50 billion.

It has a tonne of improvements compared to Ethereum. However, it also has some significant drawbacks, such as that it’s not compatible with Ethereum like Polygon is.

Nevertheless, there are many who are bullish on Cardano’s potential, so it’s no surprise it’s been a top gainer all year and again over the holiday weekend.

On Friday, when the market closed, ADA was worth just US$1.44. By Monday morning, ADA had already rallied to US$1.56, giving it a significant gain over the weekend and earning it an almost 30% gain over the last seven days.

Fantom is a high-potential blockchain network that’s looking to dethrone Ethereum

Lastly is FTM, the native token of Fantom. Fantom is another low-cost substitute for Ethereum, and like MATIC, it’s EVM compatible. This is crucial because developers who have already built projects on Ethereum can now also launch their projects on Fantom without any real additional work.

This is attractive for developers, and it’s what attracts more users to Fantom’s network. So, it’s no surprise that Fantom was another top gainer over the weekend, as it’s one of the best cryptocurrencies you can own today.

Fantom also happens to be the cheapest on the list. It’s currently just the 34th most valuable cryptocurrency and has a market cap of less than US$6 billion. Over the last seven days, though, it’s up an astounding 75%, including an almost 10% gain over the holiday weekend.

So, if you’re looking for a high-potential cryptocurrency to buy and hold for the long run, these three happen to be some of the best you can consider.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Daniel Da Costa owns Ethereum, Fantom, and Polygon. The Motley Fool owns and recommends Ethereum.

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