The crypto market is currently in a bearish cycle. This presents unique opportunities to crypto investors so long as they choose wisely what crypto to buy now.
Knowing what crypto to buy is tough due to the volatility of the market. It's not just a case of which crypto you like, but which has the best roadmap, where the volume is, and in which direction the market is headed.
In this article we'll look at what crypto is the best buy among BNB, EverGrow Coin and Terra Luna.
EverGrow Coin gathered attention yesterday as it pumped 40% in price. The recent attraction of EverGrow Coin to investors can be explained with three reasons.
Firstly, the EverGrow Coin BUSD reflections have remained strong and stable during the crypto crash. While TerraUSD fell out of the crypto top 20, BUSD jumped up to 7th place and emerged as the most secure stablecoin pegged to the US dollar. To date EverGrow Coin has paid over $37 million in BUSD to investors with an 8% reflection tax on all buy/sell orders.
Secondly, EverGrow Coin also has one of the most robust coin burning mechanisms – buyback & burn. With a further 2% transaction tax, all investors contribute equally to regular coin burns that to date have destroyed more than 52% of the initial EGC token supply. The 2% tax makes coin burning sustainable and scalable.
Lastly, EverGrow Coin is set to drop a number of new applications in 2022: an NFT marketplace, a content subscription platform, a metaverse integration, a crypto wallet, and play-to-earn gaming. Each of these applications will further drive interest to EverGrow Coin and help to boost coin burns and BUSD rewards for investors.
BNB has emerged from the crypto crash smelling of roses.
BNB has grown over 10% in price in the past week – meanwhile Bitcoin, XRP, Cardano, Solana, Dogecoin, Shiba Inu, AVAX and Polkadot have all seen losses.
BNB is also up 3% in the past day as it continues to grow in value. Behind BNB's growth is of course the Binance ecosystem, which houses the largest crypto trading platform in the world by daily volume.
Binance enjoys the use of an extremely low-price blockchain network as well as rapid processing times. The BUSD stablecoin is also the only one in the crypto top 20 that's backed by US banks and publishes regular monthly audits of its US Dollar reserves into the public domain.
Unsurprisingly, BUSD wavered very little from its $1 peg during the crypto crash – meanwhile Tether fell to $0.97.
Binance is proving to be one of the most secure crypto networks in the industry, and with BNB at the heart of it it's likely to be a good buy in 2022. The current BNB price is $332 and is up from a low of $227 during the crypto crash.
Terra Luna caught the crypto market by surprise when it pumped 915% over the past few weeks.
Luna hit an all-time low of $0.00001675 on May 13. The Luna price is currently $0.00017. Investors who sold at the recent high of $0.0002143 could have made significant profits.
Nevertheless, Luna is still incredibly volatile. Over $42 billion was wiped off Luna and UST's market caps during the crypto crash. The Luna market cap is currently just over $1 billion but anything could still happen. Buying Luna is not recommended for retail investors.
It's worth mentioning, however, that May 27 could see the airdrop of new Luna tokens to crypto investors who lost out on Luna and UST. The run up to May 27 could see price pumps as traders try to get a piece of the new airdrop when a final snapshot of LUNA holders is taken on May 27.
Proceed with extreme caution, but it's worth looking at Luna when considering what crypto to buy now.
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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.