The bear market of 2022 has lasted quite a while now. Major cryptocurrencies have fallen more than 50%, including the biggest cryptocurrency by market cap, Bitcoin.
All this while, the market cap of crypto has shrunk by more than $1.5 trillion. And a lot of portfolios appear to be in the red. However, amidst all the panic, there’s a great opportunity to invest. Crypto follows a pattern of bear and bull markets, and as per historic record, we’re currently in a bear market.
Accordingly, a bull market may be soon to follow, meaning there’s no better time to invest in cryptocurrencies than now. But with hundreds of exciting cryptocurrencies out there, it can be tough to choose.
To help you with just that, here’s a list of cryptocurrencies you can invest in during the bear market.
Battle Infinity is a play-to-earn fantasy gaming platform, where players engage with each other and earn rewards by participating in virtual battles, among other things.
The token of the platform, IBAT, has collected a massive $800,000 in the first 10 days after its presale launch.
Of the 10 billion coins in circulation, 28% of the coins will be made available in the presale. And these are available to purchase at a price of $0.0015
Given the direction fantasy sports are heading, getting a chance to invest early in something so promising isn’t something to skip over. As per the founder of the project, early adopters can expect up to 100x returns on their investment.
Polygon is a layer-2 scaling solution based on the Ethereum blockchain. It’s essentially an extension of the blockchain, overcoming many issues that the native blockchain had. Transaction time and transaction fee being the major ones.
MATIC is the native token of the Polygon network, used for fees, staking and more. Since its launch in 2019, the currency has scaled heights in terms of price.
The currency traded at $0.003 around its launch, and reached an all-time high in December last year, recording a price of $2.92. As of now, MATIC is trading at $0.87, almost doubling from its price a month back.
Historically speaking, MATIC has delivered amazing returns to its investors and has also grown incrementally as a network.
It was also selected for the accelerator program by Disney with 5 other companies. Given the recent price action and strong fundamentals of the company, MATIC comes out to be an attractive token for investment.
Binance is the biggest cryptocurrency exchange in the world in terms of trading volume. Almost 7 times bigger than its next competitor. The exchange not only allows users to trade cryptocurrencies but also features crypto staking, along with being an NFT platform.
BNB is the native token of the exchange, ranking at #5 according to coinmarketcap.com. The token is primarily used for paying transaction fees on the exchange and can be swapped for other cryptocurrencies as well.
The BNB token is currently trading at $267, showing an uptick of more than 12% over the week. The token is 60% down from its all-time high a year ago, making it a perfect time for investors to fill their bags.
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Recently, BNB USD pairs have garnered some attention too, as they make a better investment asset when the dollar isn’t performing well.
Ethereum arguably has the most use cases than any other blockchain. It is used by developers to build decentralized applications; artists prefer to mint their NFTs on the Ethereum blockchain as well.
The network also allows users to build smart contracts, and other networks to build their products onto the Ethereum blockchain.
The native currency of the network, ETH, is the second most valued cryptocurrency after Bitcoin. Currently trading at $1,575.
Ethereum is the base for innovation, as not only was it the first blockchain to launch smart contracts, but it is also the main layer on which many other crypto projects are based.
The currency is also available to stake on many platforms, meaning users can earn interest on their holdings, benefiting from their investments in more than one way. If previous price activity is any indication, the token shows a lot of promise for the next Bull Run.
There’s no better cryptocurrency to invest in than the one that is quite literally the first cryptocurrency and has managed to dominate the market since its inception.
Bitcoin is the only cryptocurrency to ever cross the $1 trillion dollar market cap, which was a third of the entire crypto market cap at the time it happened. This also makes it one of the safest cryptocurrencies to invest in, especially for beginners.
Additionally, the currency hosts the biggest crypto community around itself, with most believing it’ll provide a hedge against inflation. As the currency has a limited supply, and will only grow in price after a point.
Currently, Bitcoin is trading at $23,000, maintaining an upside of 10% since last week. The recent stability has fostered some optimism among investors, and this could potentially be a sign of the bear run ending. However, the predictions remain speculative. Source: Bitcoininsider.