What’s New With the Most Hyped Crypto Tokens During the Current Market Situation
Some crypto experts have named cryptocurrencies that look the most promising in the current market situation. But do not forget that cryptocurrency is a volatile asset that can lead to financial losses.
On July 15, the cost of Bitcoin dropped to a two-week low of $31,5 thousand, and over the past day, the price of the first cryptocurrency dropped by 7%; at the moment, it reached $29,5 thousand.
During the last week, the leading cryptocurrency fell by 6%. Altcoins’ quotations also dropped. Ethereum has dropped 17% over the past seven-eight days. Over the same period, Cardano has decreased in price by 12%. But who knows, maybe for buying crypto, the situation is not that bad?
Let’s try to figure out which digital coins can theoretically be bought amid a decline in the crypto market.
Correction of the crypto market
Crypto correction may be called a great time to purchase some coins at a discount. Some experts believe that at the moment, Cardano might look interesting. Although the coin was moving with the market, the media background was predominantly positive. The growth of cryptocurrency has been insufficient due to the general dynamics of the market.
Despite the correction of the crypto market, it is worth investing in assets that have the prospect of explosive growth. These assets may theoretically include Basic Attention Token, Chiliz, Decentraland, and Holo. These are inexpensive altcoins that have already shown good dynamics since the beginning of the year, despite the overall decline in the digital asset market.
All of them have grown in the range of 100–700% since the beginning of the year but have the potential to further increase in value. Moreover, given the low initial price of coins, they are available as a purchase to any trader.
Other coins that a potential trader might be interested in
According to some experts, at the moment, it makes sense to take a closer look at a token like Cosmos. It is an interesting blockchain with great potential opportunities for smart contract developers.
You may also pay attention to Polkadot and Chainlink. Chainlink is an Oracle-based network. It is built on Ethereum and is used to grab price data for Ethereum projects. Polkadot is a new generation blockchain that aims to operate without any of the flaws that Ethereum has and provide ways to increase interoperability across blockchains.
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Against the background of the cryptocurrency market correction, Uniswap looks like an undervalued token. Some experts and analysts recommend cutting short-term positions in DeFi tokens, as these coins have high risks due to the prolonged correction. However, others disagree and claim that DeFi tokens remain among the most promising in the long-term strategy.
Find out more information about detecting scam projects in the DeFi industry.
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LATOKEN crypto exchange does not provide any investment, tax, legal, or accounting advice. This article is written for informational purposes only. Like other assets, cryptocurrency is subject to market risk. Please do your own research and trade with caution.