Best coins to buy in this dip
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Recessions provide opportunities for value-seeking investors to rebalance their portfolios and focus on growth. This article reviews the best coins to buy in this dip.
1.) Helium (HNT)
HNT ranks #1 on our list of best coins to buy in this dip. The asset is the native token for Helium – a blockchain-based network for internet of things (IoT) devices that use nodes as hotspots to connect wireless devices.
The HNT token powers the entire Helium network, acting as a payment and incentive option whenever a hotspot transmits connection data over the Helium network itself.
HNT is currently trading at $5.34. The asset’s price has increased by 0.71% in the last 24 hours.
Investors are particularly excited about Helium following the platform’s transition to the Solana blockchain. The move, announced late last month, means Helium’s governance and tokens will move to the Solana blockchain.
As the developers have explained, the move will allow them to make more HNT available for subDAO reward pools. It will also help integrate more consistent mining and a more reliable data transfer module.
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2.) Terra Luna Classic (LUNC)
LUNC used to be the main token of the Terra stablecoin ecosystem. However, after Terra’s crash in April, LUNC’s value fell by 99%. This crash led the ecosystem to move 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 is trading at $0.0002962, an increase of 0.55% in the last 24 hours.
LUNC may have lost most of its value this year, but the asset still has a lot going for it. First, the community remains strong, with many original Terra investors still clinging to the belief that it can rise again.
The asset’s circulating supply of over 6 billion was one of the main reasons for the crash, and the LUNC community has now introduced 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 such as MEXC and KuCoin also supporting this burning mechanism, the future of LUNC’s deflationary model looks bright.
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3.) GMX (GMX)
GMX is a decentralized spot and perpetual crypto trading exchange that allows users to benefit from trading without price impact and low exchange fees through market making and leverage trading. The platform uses Chainlink oracles to find dynamic price information through various crypto exchanges, and it currently operates via the Avalanche and Arbitrum Layer 2 chains.
The exchange’s native GMX token is currently trading at $45.83, marking a downtrend of 9.08% in the last 24 hours.
GXM is currently finding its footing in the market. However, the asset undoubtedly has a bright future. It was listed on Binance and FTX earlier this week, a move that sparked a significant 35% increase between Tuesday and Wednesday.
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4.) Quant (QNT)
QNT is the tool for Quant, a blockchain that makes it easier and more efficient for users to share information. The Quant protocol was created to remove barriers blockchains encounter in information sharing and dissemination. It has different layers for specific tasks including transactions, messaging and ordering.
QNT, the network’s native token, is currently trading at $138.41. The asset is on a bull run characterized by a price increase of 2.93% in the last 24 hours.
Quant has decided to expand the interoperability between blockchains. Last month, the network released Overledger 2.0.5 – a payment API that will bridge multiple payment settlement ecosystems.
Interoperability and effective communication are two areas blockchains need to improve if they hope to reach their full potential. Quant is one of the few platforms making progress towards hacking this.
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Conclusion on the best coins to buy in this dip
As the crypto winter continues, there are many opportunities 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.
Another asset investors can consider is the IMPT token, a crypto protocol focused on using the blockchain to reduce the world’s carbon footprint. Investors can buy IMPT tokens on presale now.
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