These cryptos are poised to take off. They are ideal if you ever dreamed of hitting the jackpot. They could move substantially higher once the market rebounds from current fears of a recession. As a result, these are the best cryptos to buy for investors who expect big moves up in the crypto market.
Some of these cryptos have large market caps whereas others are relatively undiscovered as of yet. The larger cap cryptos on this list have more liquidity. On the other hand, the smaller cap cryptos on this list could potentially have more upside.
Either way, these cryptos could provide a jackpot-type return for investors if they carefully average into them over the next several months to a half year.
Let’s dive in and look at these best cryptos to buy.
Best Cryptos To Buy: Cardano (ADA)
Market Capitalization: $21 billion
Cardano (ADA-USD) crypto has been one of the worst-hit digital crypto assets. It has fallen from a recent peak of $1.24 on March 28 to below 62 cents as of June 10.
It was not that long ago, on April 10, that ADA crypto was still closing above $1 per token. All told, it is down 55% since the end of 2021, when it traded at $1.37.
Google Data Studio shows that the number of Cardano crypto digital wallets has continued to grow since the beginning of the year. For example, at the end of 2021, there were 2.67 million digital wallets holding ADA. By June 8, there were 3.37 million digital wallets, a gain of 26% year-to-date. That indicates that interest in Cardano is still growing a quite a pace, despite its declines.
This also implies that once the market rebounds, this could be one of the cryptos that move up dramatically.
Lucky Block (LBLOCK)
Market Cap: $52 million
Lucky Block (LBLOCK-USD) — This blockchain platform helps build a global lottery system for players using blockchain protocols. It focuses on security, transparency and fairness, making a global lottery where every player has better odds of success.
Lucky Block built its lottery system based on blockchain technology. This utilizes fundamental features that reduce its vulnerability to hacking as compared to traditional lotteries, according to Cointelegraph magazine.
Another advantage of Lucky Block is that its blockchain technology provides for faster prize payouts. It also allows full tracking and recording, regardless of the payout size, via distributed ledger technologies.
As a result, look for this crypto to make a substantial move higher once markets start to rebound.
Market Cap: $10.5 billion
Dogecoin (DOGE-USD), the 10th-largest crypto, is known as a meme coin with a large community backing, and has fallen down quite significantly from its former heights. It seems to have reached a trough recently at just below 8 cents per token and could be making a comeback.
Elon Musk is a Dogecoin supporter and a growing cadre of merchants are willing to use it as a form of payment. Dogecoin’s tipping point of acceptance and popularity is fast approaching.
AMBCrypto magazine recently pointed out that Dogecoin is undergoing an upgrade from a technical standpoint. The upgrade will fix vulnerabilities common with the Bitcoin network that might also be in the Dogecoin network.
As a result, investors can expect that this will be one of the best cryptos to buy over the next six months.
Market Cap: $2.5 billion
Cosmos (ATOM-USD) is known as the blockchain that solves some of the “hardest problems” facing the blockchain industry. Its goal is to make blockchain technology less complex for developers. ATOM tokens are earned via hybrid proof-of-stake, and they help to keep the Cosmos Hub, the project’s flagship blockchain, secure.
At $8.80 per ATOM token on June 10, the crypto is down 80% from its previous peak on Jan. 16 when it reached $43.61. This implies that even if it were to reclaim half of that former height, to $21.81, Cosmos could make a gain of over 140%.
That will be like a lottery jackpot for most investors.
Market Cap: $216.9 billion
Another reason is that Ethereum is slowly benefiting from the implementation of EIP-1559 a year ago. This is the Ethereum Improvement Protocol, which allowed the burning of Ethereum tokens. This has the effect of lowering the supply of ETH tokens, causing its price to move higher, given the same level of demand.
ETH tokens are down significantly from their peak of $4,812 on Nov. 8. As of June 9, it was at $1,775, a drop of 63% in the past seven months. This implies that even if it only rebounds to $3,300, the upside will be a gain of 86% from today’s price. That shows that this could be one of the best cryptos to buy over the near term.
Market Cap: $5.1 billion
Polygon (MATIC-USD) is an Ethereum-based crypto, which uses proof-of-stake (PoS) to validate transactions. Its focus is on developing an “easy-to-use platform for Ethereum scaling and infrastructure development. … Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications.”
It is known as a Layer 2 scaling solution. It doesn’t intend to upgrade its current blockchain software any time soon as it relies on Ethereum to scale.
Polygon is down significantly from the end of last year and now trades for just over 64 cents down from $2.57 at the end of December 2021. That is a decline of 75% from the end of the year.
Even if it retraces just half of that decline, to $1.61, that would be a return of 150%. That is why Polygon is probably one of the best cryptos to buy right now, as it is clearly oversold.
On the date of publication, Mark Hake did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.