Following a major market correction, the crypto market is full of opportunities.
Over the past few days, the entire cryptocurrency market has experienced a massive decline. These fixes are not unusual, but they have occurred for the first time in quite some time.
While it looked like a rally for much of the spring, with crypto market capitalization still up 40% year-to-date, this correction felt a little more painful than usual and caught some investors off guard. It is possible that
But it's usually during these adjustments that the best opportunities exist. This is not the result of any major development, but mainly just natural flushing. Think of it as one step back and two steps forward.
For those looking for an opportunity to acquire cryptocurrencies with long-term potential, here are three cryptocurrencies that I buy on the dip.
Image source: Getty Images.
1. Bitcoin
There's no need to say much here. Bitcoin (BTC 0.65%) has been the leader in the crypto asset class for the past 15 years and is likely to remain so for decades to come. Even if it is the most valuable cryptocurrency, that does not mean there is no room for growth.
Some predictions claim that Bitcoin will one day reach $100,000, $500,000, or even $1 million. As sensational as it may sound, the overall theme that Bitcoin's value is likely to rise is probably correct.
With limited supply, falling inflation, and rising demand, the price of Bitcoin will continue to be under upward pressure as it is pushed and pulled by the fundamental laws of supply and demand. Dew. This doesn't mean there won't be bear markets or corrections along the way, but for long-term investors, Bitcoin is a safer option for growing a crypto portfolio.
Recently, Bitcoin fell as low as $57,000, but has since recouped some of its losses and is currently trading at around $63,000. But even with the rally in recent days, there are still opportunities for investors. Just as the days of Bitcoin trading for less than his $10,000 are over, the time for Bitcoin trading for less than $100,000 may be near as well.
2. Stack
i'm a big fan stack (STX 0.21%). As a Bitcoin-compatible Layer 2 blockchain, it introduces new features that Bitcoin does not have natively, namely his DeFi features.
Stax's point is clear. This effectively frees up Bitcoin's $1.5 trillion market cap and allows it to be used beyond traditional buy-and-hold strategies. Its hierarchical structure not only offers the security and decentralization benefits of Bitcoin, but also participates in several popular DeFi uses such as lending protocols, non-fungible token purchases, and yield farming. We are also adding features.
To quantify the stack's potential, look at layer 2 blockchains built on top of the stack. Ethereum (Crypto: ETH). Currently, Ethereum-compatible Layer 2 is worth a total of about $23 billion. If the stack reaches a level of utility similar to Ethereum’s equivalent helper token, its price will rise significantly by 7x.
Compared to Bitcoin, Stax's price took a particularly hard hit during the recent correction. It has fallen more than 30% in the past few weeks. Like Bitcoin, it has recouped some of those losses, but its price is still far off its high of $3.48.
A return to previous highs could give investors a significant 50% return, but Bitcoin's potential as the best Layer 2 and its ability to grow as big as Ethereum's Layer 2 blockchain Considering that, there is still a lot of room for upside in the stack.
3. Airfield
In case you haven't heard of it, Base is probably the most popular blockchain on the market today.it is coinbase global's (NASDAQ:Coin) It is a very proprietary blockchain and is optimized to have a user-friendly interface, along with very low fees and lightning-fast speeds.
This may be a bit technical, but Base does not have its own cryptocurrency. This design is likely an attempt to avoid the jurisdiction of the Securities and Exchange Commission, but that doesn't mean there aren't opportunities to make money.
Instead of investing in native cryptocurrencies on Base, like Ethereum or Bitcoin, the next best option for providing your portfolio with the fast-growing potential of Base is to invest in the most valuable cryptocurrencies built on Base. Investing in cryptocurrencies. airfield (Aero).
Aerodrome is known as a decentralized exchange (DEX). Users can also exchange tokens, provide liquidity to earn yield, and participate in voting processes to earn rewards. As it stands, Aerodrome accounts for nearly half of Base's total value, making it an ideal proxy for gaining exposure to the fast-growing blockchain.
Airfield prices have fallen by about 40% in the last week. Although it may sound bearish, this type of correction was likely premature. Since its launch in February of this year, Aerodrome is up more than 1,100%.
With its unique technology that encourages user participation and is based on one of the most popular up-and-coming blockchains, it could be a hidden gem in the market. However, Aerodrome is still new and has a lot to prove, so proceed with caution.
