It is a sea of red in the cryptocurrency industry as most digital coins keep falling. According to CoinGecko, the total market value of all digital coins has dropped to more than $1.2 billion. While this crash has been painful, it has made many cryptocurrencies significantly cheaper. So, here are some cryptocurrencies to buy the dip in.
The Terra UST crash is one of the most important reasons why cryptocurrencies have fallen. In my view, the fall of LUNA will likely bring more people and developers back to Ethereum. For one, Ethereum is significantly bigger than Terra and has been around for years.
Also, the success of Ethereum’s platform is not based on a single stablecoin like that of Terra. This explains why Ethereum has done well over the years even after some serious hacks in the network.
Further, Ethereum is in a transition as the developers seek to make it significantly faster and more environmentally friendly. Therefore, I expect that the Ethereum price will bounce back ahead of the Merge that will happen in the third quarter.
Here’s how to buy Ethereum.
Near Protocol is another cryptocurrency to buy the dip in. It is a blockchain project that seeks to become a better platform for developers. It aims to be a platform that is better and more reliable than Ethereum and other proof-of-work platforms. It does this using its technology known as sharding.
Near Protocol is a good investment because of the ongoing growth of its ecosystem. The developers are also seeking to launch their stablecoin, which will be used for governance of the network. Now, with the implosion of Terra UST, there is a likelihood that the developers will use these lessons when they launch it.
Near Protocol is also a good investment because of the large sums that the developers have raised recently. Most of these funds will go towards building their ecosystem.
A fact in the blockchain industry is that industries like DeFi and the metaverse are here to stay. This is what makes Chainlink one of the best coins to buy the dip in. This is simply because the platform is widely used by developers to connect off-chain data to on-chain.
It is the biggest oracle in the world and has little competition. Therefore, with Chainlink price down by 86% from its all-time high, there is a likelihood that the price will bounce back.
Learn more about how to buy Chainlink.