Experts have always said that those investors who will be unable to bear more than a 20% loss in the stock market should never buy stocks. But the popularity of the stock market fell after the advent of Bitcoin and several other major cryptocurrencies. Unfortunately, cryptocurrencies are even more volatile than stocks. And those crypto fanatics who believed otherwise have now gotten the proof as major cryptocurrencies like Bitcoin and Terra fell drastically. The present condition of the crypto market is so adverse that even stablecoins are 'de-pegging' from their tethered currency. The crypto market has been plunging in 2022 with more plummets in May than ever before. Bitcoin fell below US$29,000, whereas Terra wiped out 95% of the investors' wealth. Hence, it is quite clear that investors would steer clear of these volatile digital assets and choose other cryptocurrencies that have performed comparatively better than this. In this article, we have enlisted some of the top cryptocurrencies that you should buy after selling your Terra investments.
Ether's current dive in value after Bitcoin's crash has shocked investors. Even as crypto is recovering from its lowest value, investors are considering alternate investment options. Even though the ETH token is at an exponentially volatile place, Ether can be a far better option for investment than Terra. The launch of the ETH 2.0 upgrade is also causing some stir and making investors quite excited about Ethereum's future.
Binance Coin is the native token of one of the world's largest cryptocurrency exchanges. Binance focuses on bringing cryptocurrency exchanges to the forefront of financial and economic markets. Even though the Binance Coin seems to suffer currently due to the fact that almost all crypto exchanges are suffering due to the plummeting crypto values, Binance Coin might prove as a more profitable investment than several other cryptocurrencies in the market.
XRP is the native token of Ripple. It proposes a cheaper and more efficient alternative to the popular SWIFT system to process international transactions. XRP Ledger is Ripple's open-source blockchain with the XRP coin as its native asset. It runs independently of the Ripple economy, and investors can use it for various purposes.
Even after the market volatility, Cardano has not lost its reputation as an actively developing blockchain project. It is one of the fastest-growing cryptocurrencies that also possess the biggest blockchain to successfully use a proof-of-stake consensus mechanism which is less energy-intensive than the proof-of-work algorithm.
Tether was one of the biggest rivals of TerraUSD and sits at the top of the stablecoin pyramid. Tether is considerably more trustworthy than Terra. Tether fell just two hours after UST fell, but its value rose back up within an hour. While it still has not reached full parity with the US dollar, it has still effectively maintained its position around that level.
Apecoin made its way to the top in 2022. It is indeed a new cryptocurrency and represents the Bored Ape Yacht Club NFT collection. Since the crypto market meltdown, investors are moving towards the NFT market and, hence, Apecoin has been performing extremely well. Due to its present popularity, experts believe that in the future, APE will gain the potential to overtake major cryptocurrencies.
Uniswap represents the popular decentralized exchange that enables users to buy and sell digital currencies without requiring communication with any third parties. While all other cryptocurrencies have failed to prove their worth to the investors, Uniswap surpassed its market capitalized in the early part of 2022. Hence, Uniswap proves to be a good investment option in 2022.
Avalanche is an open, programmable intelligent contracts platform for decentralized applications. Avalanche is one of the biggest competitors of Ethereum and aims to become one of the most popular cryptocurrencies for smart contracts. Moreover, it provides significant scalability, as compared to traditional cryptocurrencies like Bitcoin and Ethereum.
Decentraland became a popular name in the crypto market after the metaverse became popular among the tech leaders. Over the past couple of days, the number of Decentraland users has risen exponentially leading to a massive increase in price. The Decentraland is one of the biggest metaverse cryptocurrencies and is supporting the development of a domain that will provide extreme immersive, and exciting experiences.
The Sandbox is another metaverse cryptocurrency that has been soaring lately. Even though the crypto market is in a vulnerable state right now, the SAND token has maintained a consistent reputation of being a profitable investment due to the rising popularity of the metaverse.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.