Most cryptocurrencies have been on a downward spiral in 2022, which is discouraging for the market. However, seasoned investors would argue this presents a profitable opportunity to buy and hold some solid cryptocurrencies at bargain prices for the long term – buy low, sell high, as the trading mantra goes. As such, investors need to make smart decisions about which cryptos can survive another crash and choose wisely. While Bitcoin is the natural answer, let’s look at 3 other cryptos that can survive another bear market.
Ethereum (ETH)
The current market conditions are a reflection of how investors have lost confidence in the economy and financial markets. A majority of investors have sold their cryptocurrencies, including Ethereum. The crypto market is slowly stabilizing after a long streak of losses.
The bottom may not be in yet. However, this is one of the best opportunities to buy assets such as Ethereum in small amounts because the market can take any direction at any time. Ethereum (ETH), which Vitalik Buterin built, has become a titan, as it has secured its status as the second-largest cryptocurrency in the world. One of its most prominent features is its smart contract capabilities, applied to decentralized finance (DeFi) and non-fungible tokens (NFTs).
Fundamentals favour Ethereum. The digital asset is preparing for the Ethereum Merge, an upgrade that will see the blockchain become a Proof-of-Stake network. This is one of the most highly anticipated events in crypto, and its success - which looks likely - will push Ethereum to the upside.
There are projections that the network would move the development of blockchain technology to another level. Proof-of-Stake (PoS) consensus will cut its power consumption, which is good news for the network.
As Ethereum can improve its speed and scalability after the Merge, its ecosystem will grow even bigger. An estimated 150,000 transactions per second (TPS) are expected to be possible once all changes have been implemented in Ethereum. This is undoubtedly one of the best times to consider buying ETH.
When it entirely switches to a Proof-of-Stake mechanism, Ethereum will use 99% less energy, be significantly faster, and be drastically cheaper, enabling it to grow, expand and potentially exceed Bitcoin (BTC). These are some aspects that make ETH one of the top 3 cryptos to buy that can survive another crash.
Ethereum seems to be a good option for investors who want to hold short or long-term. In the long term, the digital asset might benefit from the next Bitcoin halving in 2024.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Cardano (ADA)
Cardano is another cryptocurrency to invest in for the long term. While the coin’s bear-market performance has not been the best, the platform has one major benefit over Ethereum: a proof-of-stake protocol.
Whereas Ethereum currently uses an older proof-of-work protocol for verifying transactions and protecting the integrity of the network, Cardano’s proof-of-stake protocol serves a similar function. In addition, it is faster, cheaper, and more energy-efficient.
Although Ethereum’s upgrade might level the playing field — and flood the market with proof-of-stake assets — Cardano’s popularity among decentralized application developers could keep demand high for its ADA token.
In the 24 hours following Cardano’s recent “hard fork,” or change to its protocol, over 100 smart contracts were deployed on the network, according to CoinMarketCap, and it has experienced exponential growth since then.
One reason ADA is one of the 3 cryptos to buy that can survive another crash is that it supports faster transactions as compared to any other crypto assets currently available. Cardano has been able to achieve the title of being the fastest cryptocurrency in terms of carrying out transactions due to its highly scalable blockchain technology. Ever since its first-phase tests, the blockchain network has been doing fairly well and continues to conduct its transaction with speed and sustenance.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Solana (SOL)
Solana was among the stars of the show in the 2020 - 2021 bullish phase. It has plummeted alongside other tokens. However, it has the edge over other cryptocurrencies because its run to the top was driven by solid fundamentals rather than FOMO or hype.
Solana is a relatively new high-performance blockchain. It is currently attracting a lot of attention from developers and investors and shows a lot of promise due to several projects in the works.
This will likely push SOL’s price up. Even though SOL is not a new cryptocurrency, it has become one of the 3 cryptos to buy that can survive a crypto crash. It is a smart-contracts platform that runs on proof-of-history (PoH), which allows fast and cost-efficient transactions.
With more than 50,000 transactions it can perform per second, it has the potential to go up to a million. Another great thing about the network is its low transaction fees. NFTs can be created on Solana with minimal rates and low gas fees.
What makes SOL coin jump to the moon is the NFT project called the “Degenerate Ape Academy.” Even though the current price of SOL is in decline, it can be an excellent opportunity for new investors to purchase it now when the price is low and to wait on profit return. In addition, experts believe this coin will continue to rise once the market stabilizes again.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Bottomline
2022 has driven away quite a lot of the investors who had flocked to the market in the last couple of years. However, true believers of cryptocurrency and blockchain technology know that these market ups and downs are just part and parcel of the investment journey. Such experts also know how to differentiate between crypto projects that are just jumping the bandwagon and those that hold true promise. Conferring with such experts, we present you with the 3 cryptos that you should buy that can survive another crash.
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