The crypto market crashed this week with coins and tokens across the board turning red. While declines can be disconcerting for investors, they also provide opportunities to buy promising projects at a lower price.
In this article, we’ll explore the factors behind the current market downturn and highlight five cryptocurrencies that might be worth buying at a discount.
Geopolitical tensions and halving nervousness cause crypto slowdown
The recent crypto downturn can be attributed to a few key factors that have spooked investors and created risk aversion.
First, geopolitical tensions are escalating after Iran retaliated against Israel with drone strikes. This development has pushed traders away from riskier assets like cryptocurrencies.
The attack triggered a wave of deleveraging. Nearly $250 million in crypto positions were liquidated in the last 24 hours alone.
Most of these liquidations were long traders caught off guard.
But it’s not just geopolitical concerns that are weighing on cryptocurrency prices.
With Bitcoin halving in less than two days, some investors are taking profits and reducing risks ahead of the event.
This “sell the news” mentality, combined with four straight days of outflows from spot Bitcoin ETFs, has led to additional downward pressure across the entire crypto market.
What are the best coins to buy during the dip?
While no one can predict with certainty which coins will rebound the most, some investors are already looking for projects with long-term potential.
Here are five cryptos that traders think might be worth acquiring during the current market cool-down:
1. Dogeverse (DOGEVERSE)
The first coin investors may want to buy on a dip is Dogeverse (DOGEVERSE).
As the name suggests, Dogeverse is a meme coin that pays homage to the OG meme coin, Dogecoin.
However, Dogeverse is more than just a copy.
It will feature a multi-chain architecture allowing holders to seamlessly move their crypto tokens across different networks including Solana, Ethereum, Base, etc.
Additionally, DOGEVERSE holders will also be able to stake their tokens and get returns of up to 159% per year.
Although it is not yet available on the open market, early investors can purchase DOGEVERSE via the ongoing presale for just $0.000297.
And with over $6.7 million in funding already raised, it could be a play to consider ahead of its open market debut.
Visit the Dogeverse Presale
2. Slothana (SLOTH)
Next up is Slothana (SLOTH), another crypto coin that is expected to launch soon.
Like Dogeverse, Slothana saw huge success during its presale – raising over $10 million from early investors.
There are only ten days left until SLOTH debuts on the open market, which many believe could trigger a price surge.
More than 20,000 people now follow Slothana’s Twitter page despite the token having no use case or roadmap.
However, this hasn’t stopped similar coins, like SLERF, from exploding after their initial listing on an exchange.
So, with the hype around Solana-based meme coins showing no signs of dying down, SLOTH could be another hidden gem to consider on the dip.
Visit the Slothana presale
3. Mega Dice (DICE)
Mega Dice has just launched the pre-sale phase of its new DICE token – and has raised over $340,000 in less than two days.
For those who don’t know, Mega Dice is one of the fastest growing crypto casinos in the world and now has over 1,000 active monthly players.
The casino also offers over 4,000 games from top providers like Evolution and Pragmatic Play.
However, the developers are taking it a step further with the launch of the DICE token, which will provide holders with daily rewards and pre-registration bonuses.
There will even be a $2.25 million airdrop for casino players and DICE investors.
At the time of writing, DICE can be purchased in presale for just $0.069 – the lowest price ever available for the token.
Visit the DICE Token Presale
4. Bitcoin (BTC)
No discussion of the best crypto coins to buy during the dip would be complete without mentioning Bitcoin (BTC).
BTC is down to $61,450 at the time of writing, representing a 13% decline over the past week.
However, with the halving on the horizon, many believe that now could be a great time to buy Bitcoin at a discounted rate.
Indeed, previous halvings preceded significant rebounds, such as in 2016 and 2020.
While there is no guarantee that history will repeat itself, many believe that the next supply squeeze could lead to a further rise in the original crypto.
5. Ondo (ONDO)
Rounding out our list is Ondo (ONDO), a DeFi protocol aimed at bringing real-world assets (RWA) into the mainstream.
Ondo allows the creation of symbolic representations of “traditional” assets, such as stocks and bonds.
These tokenized versions can then be exchanged, lent and borrowed easily.
ONDO is the native token that governs the Ondo platform and is primarily used to vote on governance proposals.
Given that RWAs were one of the best performing crypto stories in Q1, investing in ONDO during the market decline could be a wise move.
DISCLAIMER: THIS IS A SPONSORED ARTICLE
reference: watcher.guru