For the first time since July 2021, Bitcoin was below US$29,000 In a matter of hours, the entire volume of the cryptocurrency market dropped below US$29,000 for the first time since July 2021. The entire crypto market crashed as a result of the fall in BTC prices. This wiped out some of the most valuable altcoins on the market. Investors have lost hope after Terra’s unexpected collapse and refuse to wait for the market stability to return.
Investors are fleeing the market as the economy is in a deteriorating state. Investors are worried about their investments and how TerraUSD’s collapse will impact Bitcoin. The Terra Founder stated that he will use BTC for Terra ecosystem support. Altcoins will be required to replace Bitcoin as an investment option since it is not a viable investment option at the moment. These top altcoins investors should be aware. However, make sure your savings are intact. You are prepared to take any losses. Before you jump into the market, consult your financial advisors.
10 Best Altcoins to Buy During the Cryptocurrency Bloodbath
The cryptocurrency has finally recovered from the recent plunge in Ethereum when Bitcoin reached its lowest point. ETH is a better investment option than Bitcoin, even though it’s still in an extremely volatile area. The launch of ETH 2.0 is expected to support the current downturns. However, investors need to be cautious when buying ETH as its market movements are very similar to Bitcoin’s.
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2. USD Coin
Investors became wary of investing in stablecoins after the TerraUSD fell. The USD coin may be a better investment than TerraUSD, as its current value stands at US$ at the time this article was written. You can use the USDC coin for many purposes. It provides volatility protection and can be used to make payments on various exchanges.
Despite market volatility, Cardano is still a highly-regarded blockchain project. It is one of the most rapidly-growing cryptocurrencies and also has the largest blockchain to use a proof-of-stake consensus mechanism that is less energy-intensive than the proof-of-work algorithm.
Ripple’s native token is XRP. It offers an alternative to the popular SWIFT system for international transactions. XRP Ledger, Ripple’s open-source blockchain, has the XRP currency as its native asset. Although it is independent of Ripple’s economy, Ripple can use it for different purposes.
5. Binance Coin
Binance Coin is one of the most prominent cryptocurrency exchanges in the world. Binance is focused on bringing cryptocurrency exchanges into the forefront of financial activity worldwide. Binance Coin is currently in decline due to plummeting crypto prices. However, Binance Coin may prove to be a more profitable investment than many other cryptocurrencies on the market.
With the crypto market downturn, many investors are moving to the NFT market. Apecoin is one of the most sought-after NFT collections, the Bored Ape Yacht NFT. Apecoin is an ERC-20 governance token and utility token within APE’s ecosystem. Apecoin has seen a dramatic increase in transactions over the last few weeks as more investors joined the NFT market.
After the metaverse became well-known, Decentraland was a very popular name in crypto markets. The Decentraland price has increased by a huge 3,300% in the last few days. The Decentraland, one of the most important metaverse cryptocurrencies, is helping to develop a domain that offers immersive and exciting experiences.
8. The Sandbox
Another metaverse cryptocurrency, the Sandbox, has seen a lot of growth in recent months. Despite the fact that the crypto market is currently in a fragile state, the SAND token continues to be a popular investment because of its consistent reputation as a profitable one.
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Before the market plunged into a slump, the Avalanche was the rising star. The token saw a huge growth rate of at least 4,500% in 2021. This was more than any other major cryptocurrency. The token is in a similar situation to the rest of the cryptocurrency, so there are no major downfalls. However, its current position is expected to improve with the fall of the entire crypto market.
Dogecoin gained for a brief period after Elon Musk announced his purchase of Twitter. The cryptocurrency is volatile because Musk’s one move determines market movements. However, Musk may add Dogecoin to the payment system on Twitter so that the token could regain market dominance.