Buy these top cryptos in May and reap massive returns in the long run.
When investing in cryptocurrencies, choosing the right digital asset that suits your investment portfolio is paramount. Some well-known cryptos have seen a tremendous rise in value last year, and experts believe that these will continue their stride in 2022. Here are the top 5 bargain coins to buy in May 2022 with solid fundamentals and high growth potential.
1. Chainlink (LINK)
Chainlink is one of the best DeFi cryptocurrencies to buy in May 2022.
The rising demand for decentralized products and services has positioned Chainlink as one of the top bargain coins to buy in May. It has become the go-to decentralized oracle network (DON) for integrating real-world data into smart contracts efficiently and securely. As the name resonates, Chainlink connects external data sources to various blockchains by using a decentralized oracle network.
The release of the Chainlink 2.0 upgrade was yet another boost for the LINK token in 2021. The 2.0 upgrade aimed to build off-chain networks on top of the oracles to handle heavy computational lifting for the Ethereum mainnet. The network’s promise to integrate real-world data into Ethereum has opened up a new world of possible applications for Ethereum’s smart contracts. Moreover, Chainlink’s continued innovation and solid growth make it one of the best coins to buy in May 2022 and also signals innovations that are yet to come for the DeFi project and the industry as a whole.
2. ApeCoin (APE)
APE, the popular NFT-based crypto, is one of the best bargain coins to buy in May 2022.
ApeCoin is the native cryptocurrency of the Bored Ape Yacht Club (BAYC) ecosystem and a product of the ApeCoin decentralized autonomous organization (DAO). This allows every token holder in the ApeCoin DAO to have a say in the organization’s development.
APE is a token specifically designed to support what's next, controlled, and built on by the community. It aims to serve as a decentralized protocol layer for community-led initiatives that drive culture forward into the metaverse. The APE Foundation fuels the growth and development of the APE ecosystem fairly and inclusively.
Despite the lack of first-mover advantage, a competitive edge ApeCoin has is its association with Yuga labs and BAYC. As a result, this bargain coin has positioned itself as a promising utility token for the trending ecosystem since Bored Apes and other Yuga Labs projects have a bright future ahead.
3. Dogecoin (DOGE)
DOGE is one of the best coins to buy in May, thanks to its developer’s plans to strengthen the token’s utility.
Dogecoin is the ideal example of the heights to which a bargain coin can rise with strong community support. Designed to be an Internet meme, Dogecoin demonstrates how a simple joke coin can grow to reach an $18 billion market capitalization.
The continuous support from high-profile names like Elon Musk and massive adoption by large institutions has made Dogecoin one of the best bargain coins to buy in May. Moreover, the Dogecoin Foundation introduced the Dogecoin Trailmap, which comprised a list of essential projects that would reshape the crypto’s identity. It aims to strengthen the utility of the cryptocurrency by integrating it with new projects.
4. Solana (SOL)
Solana is one of the rapidly growing cryptocurrencies in the list of the top bargain coins to buy in May 2022.
Thanks to its highly affordable price and fast transaction speed, Solana blockchain is attracting developers from across the globe. Solana can process over 250,000 transactions a second. Additionally, Solana is exceptionally cheap, with average fees of less than $0.1, and censorship-resistant, allowing the application to remain open and run freely.
Dubbed the ‘Ethereum killer,’ SOL saw its price grow almost tenfold last year. Solana stands apart from its competitors because of its innovative and hybrid Proof-of-History (PoH) algorithm. Solana is known as the fastest blockchain globally and has a rapidly growing ecosystem with thousands of projects spanning DeFi, NFTs, Web3, and more.
A key growth driver for this bargain coin recently was the launch of Solana Pay, a “build your own online store” application on its blockchain. This allows users to eliminate the need for a bank or credit card and create a storefront and accept low-fee, global payments directly into their wallets. Over 600 merchants have engaged with Solana Pay, and others incorporated the ecosystem into their payment flows, encouraging space for new investors to join the blockchain.
5. Terra (LUNA)
Terra is one of the most actively developing cryptocurrencies, making it one of the best bargain coins to buy in May.
2021 was a spectacular year for Terra, with the token taking the whole crypto market by storm. Experts believe this stride will continue throughout 2022, with LUNA skyrocketing to new highs. Terra is a decentralized financial infrastructure and blockchain protocol that introduces a set of algorithmic decentralized stablecoins to power a vibrant ecosystem and makes DeFi accessible to the general population.
Terra has great potential and ambition as a medium of exchange and payment, making it an attractive option for investors. In addition, LUNA brings several benefits to the market, as the network offers competitive programmable payments, logistics, and an infrastructure that focuses on simplifying the use of decentralized apps, and stablecoin development.
With market transformations being a serious concern, making a mindful decision is crucial. Considering growth potential, strong support, popularity, market position, and value, these are the 5 best bargain coins to buy in May 2022 to diversify your portfolio.