3 Screaming Buys to Grab Before Crypto Comes Roaring Back


  • The world of crypto presents many high-risk, high-upside potential options, but these are some of the best.
  • Arbitrum (ARB-USD): This token has exceeded Ethereum’s (ETH-USD) daily activity by more than 100,000 transactions.
  • Avalanche (AVAX-USD): Strong long-term fundamentals, despite some near-term weakness.
  • Solana (SOL-USD): In the burgeoning world of NFTs, Solana could take the lead over time.
crypto - 3 Screaming Buys to Grab Before Crypto Comes Roaring Back

Source: Chinnapong / Shutterstock

There are plenty of options available for investors looking to play the momentum of the crypto sector right now. From mega-cap tokens Bitcoin (BTC-USD) and Ethereum (ETH-USD) to the most speculative meme tokens, there’s something out there for everyone.

Of course, in this environment, investors are best suited to looking for the highest-quality investments. That’s true in the world of equities as well as digital assets. Thus, a rather wide swath of unproven crypto projects can be put aside for the time being by most investors.

However, there are still plenty of higher-quality cryptos to choose from in this sector. The search for “screaming buys” in this space is one that isn’t so cut and dried right now.

That said, I do think certain crypto projects are worth considering, for those betting on a comeback for the entire sector. Here are my top three picks for those looking to play crypto right now.

ARB-USD Arbitrum $1.33
AVAX-USD Avalanche $16.88
SOL-USD Solana $21.91

Arbitrum (ARB-USD)

Ethereum logo over a cityscape
Source: shutterstock

AltLayer has been selected as the initial rollups-as-a-service provider to aid Arbitrum (ARB-USD) Orbit, as the Layer 2 scaling solution for Ethereum now enters the Layer 3 arena. Known for improving the efficiency (both cost and speed) of transactions on the Ethereum network, Arbitrum has seen a surge in interest among investors thus far this year. Arbitrum essentially allows developers to execute unmodified EVM contracts and ETH transactions on the second layer while retaining the advantages of the Ethereum layer 1 blockchain. Notably, optimistic rollups are used to facilitate communication between the Ethereum blockchain and Arbitrum’s scaling solution (more on that later).

Arbitrum’s launch of Arbitrum Orbit in March enabled developers to construct a permissionless Layer 3 blockchain with the help of Arbitrum technology. To assist developers working on Orbit and simplify the creation and deployment of decentralized applications (dApps) using rollups, AltLayer was chosen as a partner. Rollups are integral to the layer-2 scalability of the Arbitrum network overall.

Notably, Arbitrum recently surpassed Ethereum in daily transactions for the third time this past month, processing 367,680 transactions on Apr. 23, versus Ethereum’s 261.86k. Additionally, Arbitrum’s total value locked in smart contracts ranks fourth behind BNB Chain, with $3.57 billion TVL. Thus, this is a network that’s seeing some impressive activity to kick off the year. For those betting on continued growth, picking up some ARB here seems like a solid bet.

Avalanche (AVAX-USD)

Avalanche AVAX symbol. Trade with cryptocurrency, digital and virtual money, banking with mobile phone concept. AVAX-USD
Source: FellowNeko / Shutterstock

Avalanche (AVAX-USD) is among the most impressive projects to have been released post-2020. This network, which runs using its native token AVAX, is often considered one of the fastest smart contract-enabled proof-of-stake blockchains in the entire sector.

Avalanche, a blockchain platform with a market cap of slightly over $6 billion, utilizes a consensus model for blockchain transactions similar to proof-of-stake.

Unlike other cryptocurrencies like Bitcoin and Ethereum, Avalanche offers greater security against network attacks. One of its distinctive features is the addition of subnets, which enables the creation of private or public blockchains for various purposes using the Avalanche network.

I think Avalanche can become a long-term winner due to its use cases. Although it experienced a significant 90% decline during the bear market in 2022, AVAX has had a meaningful rally since the beginning of the year. Accordingly, for those bullish on the future of decentralized finance, AVAX is one project with real-world use cases that should support its valuation and hopeful appreciation over time.

Solana (SOL-USD)

Solana logo on phone screen stock image. Solana price predictions.
Source: sdx15 / Shutterstock.com

Due to its high speed, Solana (SOL-USD) has gained attention as a possible Ethereum rival during the pandemic. The slow transaction speed of Ethereum has been a major problem for users and developers, with Solana being seen as a potential solution due to its fast processing capabilities.

Solana’s transaction processing speed of 50,000 transactions per second is significantly faster than Ethereum’s 13 per second, providing it with an advantage over both traditional banks and Ethereum due to the rapid execution of financial transactions.

In the autumn of 2021, the value of SOL tokens peaked at around $260, at the absolute top of the crypto market. Many in the space were betting on Solana surging to more than $1,000 per token, anticipating a market capitalization in the hundreds of billions (or trillions) of dollars.

Of course, things have changed. That said, I think there are reasons to remain intrigued by Solana. This network recently unveiled its Saga phone, a new Android device for crypto enthusiasts and Web3 optimization. The phone costs $1,000 and offers a “Web3 in your pocket” experience, allowing users to perform faster and more secure cryptocurrency payments and NFT trading.

Solana continues to attract bullish investors due to several reasons. Firstly, it is the second-most traded NFT blockchain, with its Magic Eden NFT marketplace occasionally surpassing OpenSea’s Ethereum NFTs by volume traded. Additionally, Solana’s development team has shown an impressive grasp of marketing. This should bode well for those making long-term bets on which network can dominate the DeFi-driven future.

On the date of publication, Chris MacDonald had a position in SOL. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Chris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.

Article printed from InvestorPlace Media, https://investorplace.com/2023/05/3-screaming-buys-to-grab-before-crypto-comes-roaring-back/.

©2023 InvestorPlace Media, LLC