Buy these best cryptos now and build your millionaire future.
Downturns present opportunities for value-seeking investors to rebalance their portfolios and focus on growth. This article reviews the best coins to buy in this dip.
2022 has not been kind to the crypto market. Additionally, the rising threat of inflation has led analysts to believe that rescission is imminent, leaving several investors in fear and despair. However, experts opine that the current bear market poses a promising opportunity to buy up crypto assets. In other words, buy the dip. Several retail investors are now exploring different cryptocurrencies to buy on the dip for outsized returns. The current crypto winter will be coming to an end soon, but forecasting the exact moment that cryptos will turn around is difficult. Nevertheless, here are the top 5 cryptos to buy on this market dip.
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Virtual currencies are highly volatile. Your capital is at risk.
1. Ethereum (ETH)
Ethereum is an advanced blockchain network where developers can create smart contracts and decentralized applications (dApps), and users can access various types of transactions without an intermediary. The world’s second-largest crypto is already a leader in decentralized applications and non-fungible tokens (NFTs).
The price of ETH has dropped since the beginning of 2022, following the prolonged crypto winter. From the all-time highs of $4,891.70, ETH has dropped to $1,386.90, presenting the best opportunity to buy in the dip. Given its improved risk-reward at these levels, Ethereum has a good long-term prospect.
One of the key catalysts for the growth of Ethereum price prediction is its recent Merge upgrade, which essentially rolled the network’s Proof-of-Stake into the mainnet, making it much more energy-efficient.
Vitalik Buterin had announced at the Ethereum Community Conference in Paris this July that the Merge would bolster Ethereum’s capabilities, and the network would be able to handle as many as 100,000 transactions per second (TPS).
In addition to this, Ethereum has also marked its place in the Metaverse sector. Several projects like Star Atlas, Axie Infinity, and The Sandbox use the Ethereum blockchain.
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Virtual currencies are highly volatile. Your capital is at risk.
2. Solana (SOL)
Solana has carved a unique niche in the NFT marketplace and development space, making it a potential investment opportunity.
Solana is an advanced blockchain developed to facilitate scalable and user-friendly applications. It is a smart-contract platform designed to enable fast and efficient decentralized applications (dApps) and decentralized finance (DeFi) services. The core innovation of the Solana blockchain is its unique consensus mechanism that blends Proof-of-Stake and Proof-of-History to timestamp incoming transactions.
SOL was not immune to the crypto winter in 2022 and is trading much down at $34.73 from its all-time high of $260.06 in 2021. But this has presented the best opportunity for investors, making SOL one of the best cryptos to buy in the dip to make profitable returns. Additionally, it is one of the fastest blockchains, has lower fees when compared to other blockchains, and was ranked as the fourth-most-popular blockchain in the crypto sphere. It is also one of the leading DeFi platforms, with $2.7 billion invested in products on the blockchain.
As Solana-based dApps and DeFi services continue to gain traction with users, demand for the underlying SOL coin will rise significantly, making it more valuable over time. And since the token is trading significantly down from its high, it looks like a good time to buy on the dip.
One key reason to buy Solana crypto is its fast-growing NFT marketplace. The lower minting costs and fast speeds have made Solana a great place for smaller developers to build their projects.
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Virtual currencies are highly volatile. Your capital is at risk.
3. Cardano (ADA)
This is the right time to buy ADA on the dip, as it is trading at a lower price of $0.462329. Investors can be assured that Cardano would rise significantly higher in the future as the crypto has numerous real-world utilities and strong potential for growth. The crypto’s involvement in the NFT marketplace with the launch of SundaeSwap has been a boost for the network’s adoption.
Moreover, earlier this year, ADA was listed in the most popular online brokerage Robinhood Markets which would help in broadening exposure and bringing more users to the cryptocurrency.
Cardano is already a choice for environmentally conscious investors as it operates under a Proof-of-Stake mining concept, which is much more energy efficient. Over time, the network has become a popular landing spot for decentralized applications, and over 1,000 applications are being created on the network.
Cardano is also known for its consistent upgrades and rollouts. With Alonzo, the crypto has enabled the smart contract functionality, offering businesses and developers the opportunity to use the blockchain to support non-fungible tokens, crowdfunding, and DeFi dApps as well.
The community is now waiting for the Hydra update, a layer-2 scaling solution that would help push the network for commercial use. The update would launch over 1000 Hydra nodes capable of handling 1000 transactions per second. This would make Cardano one of the highest-scaling networks in the world, making ADA a good buy on the dip.
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Virtual currencies are highly volatile. Your capital is at risk.
4. Terra Luna Classic (LUNC)
LUNC used to be the main token for the Terra stablecoin ecosystem. However, following Terra’s crash in April, LUNC’s value plummeted by 99%. This crash led to the ecosystem moving away from LUNC with a new cryptocurrency and a new blockchain fork.
Nevertheless, many of Terra’s original users have remained committed to LUNC and are banding together to get the asset back on track. Today, the coin trades at $0.0002962, an increase of 0.55% in the past 24 hours.
LUNC might have lost most of its value this year, but the asset still has a lot going for it. Firstly, its community remains strong, with many original Terra investors still holding on to the belief that it could surge again.
The asset’s circulating supply of over 6 billion was one of the major reasons for its crash, and the LUNC community has now instituted token burns as a solution. Binance, the world’s largest exchange, supported the token burn last month. So far, 1.8 million tokens have been burned.
With other exchanges like MEXC and KuCoin also supporting this burning mechanism, the future of LUNC’s deflationary model looks bright.
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Virtual currencies are highly volatile. Your capital is at risk.
5. GMX (GMX)
GMX is a decentralized spot and perpetual crypto trading exchange that allows users to benefit from zero price impact trades and low swap fees through market making and leverage trading. The platform uses Chainlink oracles to find dynamic pricing information through different crypto exchanges, and it currently operates via the Avalanche and Arbitrum Layer 2 chainz.
The exchange’s native GMX token currently trades at $45.83, marking a downtrend of 9.08% in the past 24 hours.
GXM is currently finding its footing in the market. However, the asset undoubtedly has a bright future. It got listed on Binance and FTX earlier this week, a move that sparked a significant 35% rally between Tuesday and Wednesday.
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Virtual currencies are highly volatile. Your capital is at risk.
Conclusion on the Best Coins to Buy in this Dip
Cryptocurrencies are definitely a red-hot investment asset class. Given the old investment adage “buy the dip,” these are the top 5 cryptos for investors to buy in the dip in this crypto winter.
While the crypto winter continues, opportunities abound for investors to take advantage of crypto gems in the market. Our roundup has considered some of the best coins to buy in this dip.
>>>Buy Cryptos Now<<<
Virtual currencies are highly volatile. Your capital is at risk.