Cryptocurrencies are a form of digital currency that is not backed by any central bank or government. They are decentralized and run on a distributed ledger called a blockchain. There are many different types of cryptocurrencies in the market. Bitcoin, Ethereum, Solana, Litecoin, Ripple and Monero are some of the most popular ones.
The first cryptocurrency was Bitcoin which was created in 2009 by an unknown person or group of people under the name Satoshi Nakamoto. It uses the SHA-256 hashing algorithm to generate new coins and has a fixed supply of 21 million bitcoins. Ethereum is another type that has gained popularity over time because it can be used to create decentralized applications and smart contracts on their blockchain.
Recently, many cryptocurrencies saw a downfall. A big name in these was Terra LUNA which lost almost all of its value within hours. The whole crypto market is currently facing a hard time and experts say that it won’t last long. Whenever the good times start, some cryptocurrencies are expected to get a big boost. Following are some of the best cryptocurrencies to buy in the current dip to get amazing profits in the long run.
1. DEFC (DeFi Coin)
DEFC is owned by the DeFi Swap decentralized exchange. It is designed for the long term and is currently one of the best to invest in. The DeFi Swap’s exchange was launched earlier this month and the value of DEFC increased almost 500% overnight. It fell 40% since then but the demand is expected to go up very soon.
2. LBLOCK (Lucky Block)
It is owned by Lucky Block which is a play-to-earn crypto game. The LBLOCK token fell to almost 90% from its high. The owners started a giveaway in the mid of May and token holders are earning daily value from it. This will surely increase the demand for this cryptocurrency.
3. LUNA (Terra)
LUNA is owned by Terra, a platform that creates stable coins. LUNA saw a great rise between February and April but fell to almost 99.9% within hours. Once trading at above 80$, LUNA’s current value is 5$ after the new launch, which also started at 30$. Even though the current stats aren’t good and LUNA has lost the trust of the investors, It still has the potential to get a good pump and give out great profits in the long run.
4. TIKKA (Tikka)
TIKKA is owned by Cube Wealth, a US-based investment advisor that has also settled in India. The TIKKA cryptocurrency is not launched yet but is expected to launch soon. It is said to go big as soon as it launches as there are many benefits a TIKKA token holder will get.
5. FTM (Fantom)
FTM reached its peak in January and eventually became a victim of the May crypto crash. It is a good competitor of the Ethereum blockchain. It has recently proved itself worthy and the Fantom blockchain is relatively easier than Ethereum. Although Ethereum is still the most used platform and other competitors like Solana and Polkadot are also growing, FTM is a good investment for the long term due to its current loss in the crash.
So, in this article, we talked about which cryptocurrencies you should consider buying following the May crypto crash. Make sure to keep checking the market for the most up to date news and speculations.