In recent days, the cryptocurrency market has plummeted. Since the beginning of May, the price of Bitcoin has fallen by 25%, while the price of Ethereum has fallen by 30%. Many cryptocurrencies have fared significantly worse – Terra Luna is down 99.9% after its TerraUSD stable coin lost its dollar peg.
While many crypto investors are experiencing short-term discomfort, now is an excellent time to purchase the crypto plunge. The cryptocurrency market has seen previous collapses, and each time it has recovered stronger. After crashing in the spring of 2021, Bitcoin stormed back later that year, more than doubling in value from its low point.
However, not every cryptocurrency is going to recover equally or rapidly. So, which cryptocurrencies should you purchase while prices are low?
We’ve selected five cryptocurrencies to keep an eye on right now. During the May crypto crisis, these cryptocurrencies seemed to be heavily oversold, and aggressive investors may be rewarded for purchasing while the rest of the market sells.
1. The Lucky Block (LBLOCK)
LBLOCK is the official cryptocurrency of Lucky Block, a crypto game that rewards participants with a daily coin prize. When it originally debuted, the platform quickly became the quickest crypto startup to earn a $1 billion value.
LBLOCK is now worth somewhat less than it was when the currency was originally introduced. The drop precedes the current cryptocurrency crisis — LBLOCK has been progressively losing value since reaching an all-time high in February. The token is now down roughly 90% from its peak.
That slump, however, may be coming to a close shortly, and LBLOCK may be an undervalued cryptocurrency. Lucky Block’s daily giveaway will begin in mid-May, which implies that LBLOCK token holders will begin winning daily incentives. Rather than holding a token with guaranteed future worth, LBLOCK investors would earn daily crypto income. This will very certainly raise demand for this token.
Furthermore, Lucky Block has shown that it has more than one invention up its sleeve. The site just unveiled a new NFT game in which participants may earn $10,000 per day. The sale of NFTs for the game alone might generate $15 million in revenue for Lucky Block, which it can utilize to develop new games in the future.
2. The DeFi Coin (DEFC)
The DeFi Swap decentralized crypto exchange’s native coin is DeFi Coin. The currency has seen significant volatility, owing in large part to DeFi Swap’s delay in starting its exchange. However, the exchange eventually went live earlier this month, and the price of DeFi Coin increased by more than 500% overnight.
Since then, DEFC has lost value once again. The currency is now trading at $0.343, down over 40% from its last peak. It’s unclear if a bottom has formed yet, but it is probable that the price will settle or reverse once speculation ends.
When a bottom forms, DeFi Coin will be one of the top value buys in the crypto market. This is due to the fact that DeFi Swap created this currency to promote long-term investment. There is a 10% cost for selling DEFC, therefore there is a strong incentive to keep this asset rather than aggressively trade it. In the long term, this should restrict supply and raise prices.
DeFi Swap also significantly compensates DeFi Coin owners. The exchange provides a crypto interest account for DeFi Coin and pays DeFi interest rates ranging from 30% to 75% APY. These are very high rates as compared to other DeFi staking sites. This alone might increase demand for this currency as news travels about DeFi Swap’s new platform.
3. Tikka (TIKKA)
Tikka has been immune to the May crypto meltdown because to the fact that it has not yet launched. This cryptocurrency, which is provided by Cube Wealth, is anticipated to emerge in the coming months.
You may use the Tikka token to get access to Cube Financials’ wealth management platform. Tikka holders will earn a portion of Cube Wealth’s advising and trading income. You’ll also have access to the platform, allowing you to use Cube Wealth’s investment management tools.
Fundamentally, there’s a lot to appreciate about Cube Wealth’s platform and Tikka in particular. Cube Wealth has a strong presence in India, with over $23 million in assets under management and a 50% year-over-year revenue increase. The platform also boasts an 84 percent client retention rate, suggesting that its wealth management solutions are really world-class.
When it does debut, Tikka’s ICO will be less aggressive than other previous offers. With prices falling across the board, crypto investors are likely to be skeptical of any new cryptocurrency. That means you may be able to get Tikka at a good price.
4. Terra (LUNA)
Terra is a platform for developing algorithmic stable coins tied to currencies like as the US dollar, Euro, British pound, and others. Until recently, it was one of the most exciting new stable coin platforms. LUNA, the platform’s cryptocurrency, increased by 230 percent between February and April of this year.
However, LUNA is currently down more than 99.9% from its pricing at the beginning of May. A coin that was valued more than $80 only two weeks ago is now worth less than 1.5 cents.
The reason for this is that when cryptocurrency prices began to fall, there was a run on the Terra USD stable coin. The computational supply and demand factors designed to maintain 1 UST equal to $1 couldn’t keep up, and the stable coin’s peg was destroyed. 1 UST was formerly worth less than $0.30. LUNA has plummeted as a consequence of investors’ loss of trust in Terra.
Will LUNA ever recover? That is far from assured — once a stable coin’s reputation has been harmed, it is difficult to rebuild. However, considering that this stable coin was the darling of the crypto world just a few weeks ago, it may be worthwhile to take a risk that investors would give it another go. The Luna Foundation Guard, the organization that houses LUNA reserves, has committed to significantly increase its reserves and, hopefully, learning from this experience to avoid a similar run in the future.
Investing in LUNA is very dangerous. However, if the currency can recover, it might be one of the most profitable long-term crypto investments to emerge from the May crisis.
5. Fantom (FTM)
Fantom is another another cryptocurrency that has suffered greatly as a result of the current sell-off. It is currently worth just more than $0.30 per coin, down more than 90% from its all-time peak in mid-January.
The good news is that the price may be approaching its low. Fantom has a strong region of support around $0.22 per coin that it established during the crypto crisis last spring, but it has yet to test it. At the same time, trade activity in this currency is quite low, which might indicate that selling pressure is fading.
Longer term, investors should be positive on Fantom since it has established itself as one of the most scalable and fast alternatives to the Ethereum blockchain. Existing Ethereum dApps (decentralized applications) may be readily upgraded to operate on the Fanton network.
Still, if you’re looking at the basics, it’s worth approaching Fantom with caution. Ethereum remains the most popular platform for executing smart contracts, although rivals such as Solana, Avalanche, and Polkadot are also working on comparable systems. The advantage of investing in Fantom right now is that it has dropped deeper than most of its rivals in the current crisis.
READ ALSO: Terra (LUNA) Briefly Shuts Down; Global Crypto Market Recovers Slightly, Trade Volume Jumps 722%
Conclusion
The May crypto crisis was difficult for investors, but it also presented a huge chance to purchase the dip. If you believe in cryptocurrency’s long-term potential, this may be a good moment to double down.
Lucky Block may be the best cryptocurrency to buy in right now due to its revolutionary crypto game platform and massive price increases.