Crypto markets are always tough to navigate, but since the beginning of 2022, they have been particularly difficult to deal with. With Bitcoin (BTC-USD) down over 50% from its peak and nearly all major tokens experiencing similar, extreme drops, crypto traders have never felt more pressure. Nevertheless, the current market downturn presents an excellent opportunity to find good cryptos to buy on the dip.
The crypto market is always volatile. However, because of cryptos’ usefulness in the real world, they can make great investments now, when the stock market could plunge at any time.
It is imperative, however, to find the best cryptos with strong long-term outlooks. Here are three of the best cryptos to buy on weakness.
| ETH-USD | Ethereum | $1.898.60 |
| ADA-USD | Cardano | $0.54 |
| SOL-USD | Solana | $43.72 |
Ethereum (ETH-USD)
Ethereum (ETH-USD) is perhaps the number one cryptocurrency in terms of real-world utility. Its network leads the pack in decentralized finance (DeFi) projects, non-fungible tokens (NFT), and other lucrative blockchain markets. With its laundry list of use cases, Ethereum is arguably the safest bet in the notoriously risky crypto sector.
The biggest concern about ETH over the years has been its sluggish speeds and its high transaction costs. Ethereum 2.0, also called “The Merge,” will transition the network from a proof of work (PoW) protocol to a proof of stake (PoS) system. The change will likely significantly increase the network’s speed and efficiency while lowering the costs of its transactions. Though the transition has been delayed multiple times, it is tentatively set for mid-September.
ETH’s market cap was a mere $0.1 billion in August 2015 and peaked in November 2021 at $549.09 billion. Moreover, Ethereum continues to gain market share as it adds more use cases.
Cardano (ADA-USD)
Cardano (ADA-USD) stands out from the pack of cryptocurrencies,. It was developed with an emphasis on stability, security, and sustainability.
One of the most attractive elements of ADA is its calculated development process that effectively targets multiple network bottlenecks. Novel, thoroughly researched, peer-reviewed features are added to the crypto in every phase of its development.
ADA is currently in its fourth development phase called Basho, which will equip the crypto with sidechains. The sidechains will enable additional blockchains to run in tandem with the main network, thereby reducing fees and congestion and significantly boosting the network’s speeds. This update and Cardano’s recently released Layer-2 solution will help enable its network to process a whopping 3 million transactions per second.
Though Ethereum takes the cake in terms of utility, Cardano and its peers aren’t far behind Ethereum. ADA’s ecosystem, after all, consists of more than 1,000 dApps, and new ones are added yearly.
Its tools can also be used in several industries for identity verification, tracking, and security purposes. In light of all of Cardano’s strengths, it should remain a mainstay of your crypto portfolio.
Solana (SOL-USD)
SOL-USD) blockchain.” width=”300″ height=”169″ />
Solana (SOL-USD) is one of the most promising blockchain networks that turned heads last year. Its price skyrocketed by over 4,200% in 2021, making it one of the most profitable cryptos of the year. In conjunction with the recent downturn of most cryptos, SOL has shed a great deal of its value in the last several months. However, its bull case remains intact, making it a fascinating pick for the long haul.
One of the more unique elements of the network is its robust consensus mechanism. It operates a proof-of-stake system, which effectively requires token holders to validate their transactions. Solano is one of the fastest blockchain networks, as it’s able to handle 50,000 transactions per second.
Data from Hello Moon indicates that more than 25 million Solana users were active in July, representing a 150% year-over-year surge. Additionally, there are more than 1,100 active programs on the network, up from just 100 during the same period in 2021.
Another key element that sets SOL apart from the rest is Solana Labs’ ability to innovate. It has introduced cutting-edge projects such as a crypto smartphone and executable NFTs. Another tool it launched is Solana Pay, which should help lower transaction costs on the network.
SOL remains a top cryptocurrency today, and those who think the network can be disruptive should consider owning Solana.
On the date of publication, Muslim Farooque held LONG positions in Solana and Ethereum The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines
