The crypto market has tumbled in recent days. The price of Bitcoin is down 25% since the start of May and the price of Ethereum is down 30%. Many altcoins have fared even worse – Terra Luna is down 99.9% after its TerraUSD stablecoin lost its peg to the dollar.
While many crypto investors are feeling short-term pain, now is the perfect opportunity to buy the crypto dip. The crypto market has gone through crashes before, and each time it’s come back stronger. After Bitcoin crashed in the spring of 2021, it roared back later in the year and more than doubled in value from the short-lived bottom.
That said, not every crypto is likely to rebound equally or quickly. So which cryptocurrencies should you buy on the dip?
We’ve picked out 5 cryptos that are worth watching right now. These cryptocurrencies appear to be significantly oversold during the May crypto crash and aggressive investors could be rewarded for buying while the rest of the market sells. 1. Lucky Block (LBLOCK)
LBLOCK is the official cryptocurrency of Lucky Block, a play-to-earn crypto game that offers a daily crypto giveaway to players. The platform gained immense popularity when it first launched, becoming the fastest crypto project to ever reach a $1 billion valuation. Now, LBLOCK is worth slightly less than it was when the coin was first launched. The slide predates the current crypto panic – LBLOCK has been steadily losing value since hitting an all-time high in February. Right now, the token is off its high by around 90%.
That slide could come to an end soon, however, and LBLOCK may be an undervalued cryptocurrency . Lucky Block is starting its daily giveaway in mid-May, which means that LBLOCK token holders will start earning daily rewards. Instead of holding a token that has promised value in the future, LBLOCK investors will receive crypto income every single day. That’s very likely to increase demand for this token.
On top of that, Lucky Block has demonstrated that it has more than one innovation up its sleeve. The platform recently announced an NFT game that offers players a chance to win $10,000 every day. The sale of NFTs for the game alone could bring in $15 million in cash for Lucky Block, which the platform can use to build even more games in the future.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. 2. DeFi Coin (DEFC)
DeFi Coin is the native cryptocurrency of the DeFi Swap decentralized crypto exchange . The coin has seen a lot of volatility, in large part because DeFi Swap was running behind on launching its exchange. However, the exchange finally launched earlier this month, and the price of DeFi Coin skyrocketed more than 500% overnight.
Since then, DEFC has been shedding value once again. The coin is now trading at $0.343, down nearly 40% from its recent high. It’s not clear if a bottom has formed yet, but it seems likely that the price will stabilize or reverse once speculation comes to an end.
When a bottom does form, DeFi Coin represents one of the best value buys in the crypto market right now. That’s because DeFi Swap designed this coin to encourage long-term investing. There’s a 10% fee every time someone sells DEFC, so there’s a lot of incentive to hold onto this asset rather than actively trade it. Over the long run, that should limit supply and push up the price.
In addition, DeFi Swap generously rewards DeFi Coin owners. The exchange offers a crypto interest account for DeFi Coin and pays out DeFi interest rates ranging from 30% to 75% APY. Those are very high rates compared to what other DeFi staking platforms offer. That alone could drive up demand for this coin as word about DeFi Swap’s new platform spreads.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. 3. Tikka (TIKKA)
Tikka has been insulated from the May crypto crash by virtue of the fact that it hasn’t launched yet. This cryptocurrency, which is offered by Cube Wealth, is expected to launch sometime in the next few months.
With the Tikka token, you stand to benefit from Cube Wealth’s wealth management platform. Tikka holders will receive a share of advice and trading revenues from Cube Wealth. You’ll also get access to the platform itself, enabling you to take advantage of Cube Wealth’s investment management tools.
From a fundamental perspective, there’s a lot to like about Cube Wealth’s platform and Tikka […]
source 5 Best Cryptos to Buy on the Dip in the May Crypto Crash
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