The cryptocurrency market has been bearish for months, mainly due to inflationary fears globally. Internal cryptocurrency factors such as the collapse of Earth and FSO and now the Celsius pause on all withdrawals have not improved things.
While it may seem like the sky is falling, savvy investors know that this is an opportunity to look for the best cryptocurrencies to buy during the recovery.
If you’re an investor looking to capitalize on these low prices and invest, you’ve come to the right place.
Table of Contents:
Avalanche (AVAX) – a scalable and stable smart contract network
At the top of the list of the best cryptocurrencies to buy for recovery is Avalanche. Avalanche is a smart contract platform known for its scalability and network stability.
Avalanche can easily handle over 4500 transactions per second at an almost negligible cost. This has seen him grow in adoption, especially in DeFi.
Avalanche is also constantly innovating to give Dapps developers the best. For example, Avalanche recently introduced Subnet, which gives it near-infinite scalability, perfect for the fast-growing Web 3.0 space.
As adoption increases, so do the odds of AVAX pricing over time. Therefore, investors who choose to buy AVAX now could see significant gains, once the markets have stabilized.
Avalanche is currently trading at $15.03 and is down more than 40% in the month.
Chainlink (LINK) – Top Decentralized Data Oracle Network
Next on the best cryptocurrencies to buy for recovery is Chainlink. Chainlink has established a dominant position in the market in allowing smart contracts to access the external data needed for optimal operation.
Chain Link is gaining popularity because it ensures that there is not a single point of failure in the data.
Chainlink has also been working on scaling by introducing hybrid smart contracts. This means combining on-chain and off-chain data, ensuring that Chainlink never lags behind, no matter how heavily it is used.
Due to its dominance and scalability, Chainlink has seen massive market adoption. One of the latest protocols to adopt Chainlink is Crust Network, which has Chainlink integrated into its Web 3.0 platform.
When he wrote this article, Chainlink was trading at $7.15, down 25% in the week and more than 40% in the month.
Ethereum (ETH) – The King of Smart Contracts
The first-mover advantage is important throughout, and Ethereum has it in the smart contract space. It was the first programmable blockchain and today accounts for over 50% of all smart contracts.
Due to its popularity, Ethereum has faced many scaling issues, but is currently in the process of addressing them. This is done by a switch from a Proof-of-Work algorithm to Proof-of-Stake.
While the union that will see Ethereum run as a Proof-of-Stake network has come a long way, Ethereum developers expect it to happen as early as August 2022. Below is a tweet from Ethereum developer Tim Beiko confirming the same.
Thanks to Ethereum’s advantage as one of the most decentralized networks, adding scalability to the image makes ETH a top cryptocurrency to buy for recovery. As a Proof-of-Stake network, investors will also be able to earn passive income on Ethereum, further adding to ETH’s appeal as the best cryptocurrency investment.
When I wrote this article, Ethereum was trading at $1,122.49.
Solana (SOL) – One of the most scalable blockchains
Solana is one of the newest cryptocurrencies, but it has already made a name for itself for its scaling capabilities.
Solana can handle up to 50k transactions per second. All this thanks to its hybrid algorithm that combines Proof-of-Stake (PoS) and a new consensus mechanism called Proof-of-History (PoH). Solana is also known for its low fees, starting at $0.01 per transaction.
These metrics have seen a supporting infrastructure like the oracles of data that choose Solana. For example, Chainlink, the main decentralized data oracle, recently went live on the solana blockchain.
This means that Dapps developers on Solana can now use Chainlink data for pricing to execute their smart contracts.
Despite this growing acceptance of Solana as a smart contract platform, the price continues to fall. In the last 30 days alone, SOL has decreased by more than 50%.
SOL is currently trading at $26.81, a pale shadow of its all-time highs of $260. However, this collapse and Solana’s solid fundamentals make SOL one of the best cryptocurrencies to buy for the recovery.
A new test of its all-time highs would be a big win for investors and explains why experienced investors are looking to buy Solana now.
Celo (CELO) – A blockchain protocol optimized for smartphones
Celo · easily gets to the list of the best cryptocurrencies to buy for the recovery, and for good reason.
According to the white paper, Celo wants to make cryptocurrencies easily accessible via smartphones.
The idea behind Celo is simple; rather than having long, hard-to-remember crypto addresses, it uses mobile numbers. This means that a user can send or receive cryptocurrencies using the recipient’s mobile number as the address.
However, Celo is a bit more than trying to make addresses readable by humans. Thanks to its integration with the Ethereum Virtual Machine, Celo users have access to many blockchain opportunities, including in DeFi.
Celo’s appeal is growing, as is evident in the number of platforms that now support the CELO token and its reserve-backed stablecoin called cUSD. Among the latest to support cUSD is Huobi Global, one of the largest exchanges globally.
All of these factors are pushing people to invest more in Celo, and once things cool down, this growing demand could play in its price direction.
Conclusion
This article has looked at some of the best cryptocurrencies to invest in for growth. While everyone has a lot of growth potential, Avalanche is our first choice for the best cryptocurrencies to buy for the recovery.
