7 Cryptos to Buy as the Markets Get More Volatile


  • Continued volatility will provide tailwinds for these cryptos in the coming weeks.
  • Tron (TRX-USD): Tron is showing technical signs of future price advances. 
  • Dogecoin (DOGE-USD): Dogecoin is becoming a safer mechanism for playing volatility.  
  • Bitcoin (BTC-USD): The first quarter showed why Bitcoin remains a top choice for investors. 
  • Read more for the full list of cryptos to buy!
cryptos to buy - 7 Cryptos to Buy as the Markets Get More Volatile

Source: Chinnapong / Shutterstock

The fear & greed index has shifted over the last week, indicating that market sentiment is becoming more pessimistic. That also means investors should expect more volatility overall, as fear leads to more unpredictable behavior. In turn, the crypto market could get a shot in the arm, as investors seek returns in the more volatile cryptocurrency markets.  

The Fed’s most recent 25 basis point rate hike raises the possibility that something unexpected could break in the financial system. The move increases volatility across the markets as banking fears remain high.

It remains unclear whether additional interest rate increases will continue, given the rather opaque wording provided by the Federal Reserve of late. However, for investors who view cryptos as a way to hedge against uncertainty, here are seven top options to consider right now!

TRX-USD Tron $0.069
DOGE-USD Dogecoin $0.073
BTC-USD Bitcoin $27,750
ETH-USD Ethereum $1,847
QNT-USD Quant $104.88
FTM-USD Fantom $0.367
HBAR-USD Hedera $0.054

Tron (TRX-USD)

Tron crypto logo
Source: tropical-travel / Shutterstock.com

Tron (TRX-USD) remains an interesting choice for crypto investors. The project’s primary goal is to reward content creators a greater share of the rewards from their efforts. Tron aspires to cut out intermediaries that dominate content creation though massive platforms. The notion is to disintermediate companies like YouTube and Facebook that benefit from creators and to return a greater share of the rewards to creators themselves. 

Tron is a reasonable option for crypto investors for several reasons. One, it’s very inexpensive. Currently, TRX trades for around $0.06 apiece, meaning speculators can get a lot of exposure for a small up-front investment. This relatively low price doesn’t mean TRX will double quickly. In fact, it traded at $0.16 two years ago. Even at the height of cryptomaina it was valued 2.5-times its current price.

However, Tron has shown positive momentum recently. Prices broke above two-month resistance levels, even as development slackens. That’s the kind of activity traders like to see, and exactly the type of activity that can spur price spikes higher. 

Dogecoin (DOGE-USD)

Dogecoin Cryptocurrency
Source: Orpheus FX / Shutterstock.com

As market volatility rises, Dogecoin (DOGE-USD) provides immense opportunity. That pattern has been well-established over the past few years. Although we are no longer in the low-interest, money-printing era of the recent past, Dogecoin continues to see rapid price movements. 

This year ,there have been multiple occasions on which the coin has increased in value by more than 10% in a day. Investors continue to recognize and appreciate DOGE as a mechanism by which to chase those gains. So, despite its lack of overall utility, investors will continue to direct capital into this meme token, at least over the near-term.  

Dogecoin remains among the most popular cryptocurrencies that exist. That’s something of a double-edged sword these days. Its market capitalization is high now so the gains that were possible in the past aren’t as great now. But Dogecoin is also one of the first places investors will turn when market volatility makes crypto appealing. It’s become safer and more predictable, in many respects. 

Bitcoin (BTC-USD)

Bitcoin cryptocurrency with pile of coins, Vector illustrator
Source: Sittipong Phokawattana / Shutterstock.com

Bitcoin (BTC-USD) is even more popular than Dogecoin. In fact, it’s the most popular cryptocurrency in the world judging by market cap. Its market cap of roughly $540 billion accounts for approximately half of all the capital invested in the cryptocurrency sector. 

Indeed, 2023 has already proven that Bitcoin is a great magnet for capital as volatility rises. In the first quarter of this year, Bitcoin rose from around $16,000 to $28,000 as concern over traditional financial systems waned.  The Fed’s rate increase only serves to further increase the odds of greater volatility moving forward. Any resultant shocks to the stock market likely translate into gains for BTC. 

Given that expectations of future bad news are rising, it’s clear that Bitcoin provides strong opportunities. What’s better is that Bitcoin is the most liquid crypto in the market, which provides many benefits to investors. It’s relatively easy to cash out gains into real-world currency, and it’s also very easy to trade relative to many smaller-cap options in the market. 

Ethereum (ETH-USD)

Concept graphic of Ethereum Classic (ETC) crypto logo in green techno style
Source: shutterstock.com/BT Side

Ethereum (ETH-USD) tends to move in lockstep with Bitcoin as the second-largest cryptocurrency globally. So, it too had a very strong first quarter, moving from around $1,200 to more than $1,800. Indeed, gains of more than 50% in a matter of weeks is simply staggering, even if those gains slightly underperformed those provided by Bitcoin. 

This could be an indicator that the established cryptocurrency may not truly be ‘established’. Ethereum is surely here to stay, but its price tends to move quickly. One reason to like Ethereum is that it now consumes far less energy than it did prior to its ‘Merge’ upgrade. That switch changed its consensus mechanism from a proof-of-work protocol that relied on mining that consumes a lot of electricity, to proof-of-stake. Accordingly, Ethereum now uses 99.9% less energy than it did before. 

That switch makes Ethereum more marketable overall which could potentially drive future investment. That said, I think it’s simply Ethereum’s size and attractiveness to institutional investors that should be the focus, as I see most investor capital flowing into names like Etheruem when volatility picks up.

Quant (QNT-USD)

The logo for the Quant cryptocurrency network is displayed in white on a black background.
Source: Zeedign.com / Shutterstock.com

Quant (QNT-USD) is all about the concept of blockchain interoperability. The idea behind Quant came from one of its founders, Gilbert Verdian. He identified the importance of interoperability for patients registered across healthcare platforms while working in the industry. 

Quant’s operating system is called Overledger, and is a gateway for connecting blockchain-based systems with all other blockchains. So, Quant is part of an arms race currently ongoing in which multiple projects compete to dominate blockchain interoperability. 

Unlike BTC and ETH, QNT didn’t enjoy a particularly strong first quarter. It went from $106 to $158 in January, but has slowly returned to $112 in May. The thought here is that Quant has already shown that markets will support higher prices this year. It’s relatively cheap now. So, if there’s an ensuing spike in the market, it’s logical to suggest that investors could flock to QNT again. Quant’s chances of becoming a dominant blockchain interoperator remain a guess at this point, but there’s some enticing long-term upside potential for aggressive investors with this name. 

Fantom (FTM-USD)

The Fantom (FTM) crypto logo on a black background
Source: shutterstock.com/ARTEMENKO VALENTYN

Fantom (FTM-USD) is an inexpensive crypto for investors seeking an opportunity with Ethereum potentially weakening over time. Costing only 37 cents apiece, Fantom is a smart contract dApp platform that boasts settlement times of 1-2 seconds. Those speeds are far better than Ethereum, whose network requires 16 seconds to settle a transaction, based on current data

Fantom also costs far less per transaction than Ethereum. Transactions on the Fantom network cost fractions of a penny, whereas Ethereum transactions have been upwards of $2 lately

While technical specifications may favor Fantom, brand recognition does not. Ethereum is well-known and dominant, with a position that has proven exceeding difficult to interrupt. Fantom is one of many projects that are hoping for an opening to emerge. 

That’s the rub with Fantom and its ilk. They look good on paper and they remain inexpensive relative to Ethereum. However, they don’t have the power to displace Ethereum, making these smart contract platforms a speculative bet at this point. 

Hedera (HBAR-USD)

Concept tokens for Hedera Hashgraph (HBAR) on a black keyboard.
Source: Shutterstock

Hedera’s (HBAR-USD) opportunity will occur if enterprise use cases again become attractive. It’s an enterprise-grade public network for dApp creation by businesses and individuals. Hedera has worked with major S&P 500 clients in the past, and looked particularly attractive when enterprise collaboration was stronger during the pandemic. 

That activity and opportunity has waned somewhat since as multiple factors have made crypto less attractive. Namely, higher interest rates driven by quantitative tightening. Yet, continued tightening does open an opportunity for Hedera. 

The opportunity is simple. Waning trust in the traditional financial system, prompted by shocks, leads to rising interest in crypto. Enterprises will then look to integrate Hedera’s functionality into their operations in an effort to distance themselves from the traditional financial markets. 

It’s an interesting proposition to be sure. And it could happen as more and more people seem to be becoming skeptical of traditional finance in its pure form. Hedera is something of an antidote, which is what makes this project interesting. At 5 to 6 cents per coin, it’s a bet worth considering as volatility increases. 

Small, low-volume cryptos

On Low-Capitalization and Low-Volume Cryptocurrencies: InvestorPlace does not regularly publish commentary about cryptocurrencies that have a market capitalization less than $100 million or trade with volume less than $100,000 each day. That’s because these “penny cryptos” are frequently the playground for scam artists and market manipulators. When we do publish commentary on a low-volume crypto that may be affected by our commentary, we ask that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: How to Avoid Popular Cryptocurrency Scams

On the date of publication, Alex Sirois did not have (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.

Alex Sirois is a freelance contributor to InvestorPlace whose personal stock investing style is focused on long-term, buy-and-hold, wealth-building stock picks. Having worked in several industries from e-commerce to translation to education and utilizing his MBA from George Washington University, he brings a diverse set of skills through which he filters his writing.

Article printed from InvestorPlace Media, https://investorplace.com/2023/05/7-cryptos-to-buy-as-the-markets-get-more-volatile/.

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