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5 Cryptocurrencies to Buy Low

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Check out a list of five cryptocurrencies, plus one as a bonus, to buy low with a focus on the long term.

Chainlink (LINK)

The Chainlink network is a pioneer in building blockchain oracles. Oracles are nodes that provide data transfer from off-chain sources to smart contracts. Thus, they allow a greater degree of interconnection between the two platforms.

Oracles have great functionality in data transmission, a potential recognized by large companies. In this sense, Chainlink has already partnered with names such as Google Cloud, Swisscom, AccuWeather and others.

In addition, it has integrated a protocol to help transfer messages, data and even tokens from different blockchains. In this way, Chainlink promises to revolutionize various sectors both inside and outside the cryptosphere.

To use Chainlink it is necessary to have the native token of the network, called LINK. The more the search for oracles grows, the greater the demand for the token tends to be. This demand reached an all-time high in 2021, reaching $52.70 in May. But now each LINK is worth $13.92, which represents a good buying opportunity with a long-term focus.

Ripple (XRP)

Ripple is a network designed to broker and facilitate transactions. Like Chainlink, the use of Ripple is promising with both cryptocurrencies and fiat currencies. In fact, the network closed important partnerships with large banks, especially Santander.

However, a lawsuit filed by the United States Securities and Exchange Commission (SEC) has undermined some confidence in XRP for quite some time. This process has taken new steps in 2022 and many investors point out that it will have a satisfactory end.

If that happens, Ripple’s advantages over current transfer systems (low fees, high speed platform) should overlap. As a result, the price of XRP is expected to rise again in the long term.

According to CoinMarketCap, XRP reached its all-time high in January 2018, hitting $3.44. Currently, the cryptocurrency is priced at $0.86.

Cardano (ADA)

Cardano is one of the most famous “ETH killers”, the name given to cryptocurrencies that can displace Ethereum (ETH), the second largest on the market. It is an open source platform that makes use of a peer review consensus mechanism called Ouroboros.

Your network is made up of two layers. The first (settlement layer) serves to settle transactions, while the computing layer executes smart contracts. This second layer has been active recently, but it still develops at a slow pace compared to ETH.

To compensate for this delay, Cardano prides itself on offering low transaction fees and higher transaction per second (TPS) capacity. It recently had its first decentralized exchange, Sundaeswap, which conducts exchanges between tokens created in its ecosystem.

As network usages increase, demand for the ADA token could make its price rise again. The token reached its high in August 2021, when it was worth $2.96. With market corrections, each ADA is worth $0.86 at the current time.

Terra (LUNA)

The growth of stablecoins – tokens backed by fiat currencies – is one of the factors that has transformed the cryptocurrency market. It was with this market in mind that Terra, a blockchain in which stablecoins can be created and exchanged for other assets, emerged.

The network has a global payments platform that uses only stablecoins and has Terra USD (UST) as the main one. The backing of each stablecoin is established by smart contract algorithms that are enforced by the network’s validators.

LUNA token is responsible for managing this ecosystem. Just like mining BTC, Earth validators receive LUNA as a reward for their work. Increasing network competitiveness among stablecoins can capitalize on a large market, increasing the amount of validators and demand for LUNA.

The token’s all-time high was reached in December 2021 at $103.34. With the correction, the price dropped almost 50% and is now quoted at $53.15.

Polygon (MATIC)

Polygon is a second-tier blockchain built for the Ethereum network. Its main objective is to solve the speed, security, efficiency and interoperability issues of the second largest blockchain in the world.

While ETH is a fully-fledged network, Polygon provides some additional features. It comprises zk-rollups, optimistic rollups, Validium Chains and so on. It also supports smart contracts.

MATIC is Polygon’s native token and among other things it helps to reduce high gas fees on ETH. It hit an all-time high at $2.87 just on Christmas Day 2021, but it also suffered from the correction. Today each MATIC is worth US$ 1.41.

Bonus: BTC

Of course, one cannot talk about valuations without mentioning BTC, the largest cryptocurrency on the market. Created by Satoshi Nakamoto in 2009, BTC emerged as an answer to two problems. First as a decentralized payment system; and second as scarce digital money.

BTC allows you to send money quickly and cheaply, including billions of dollars. Its use has also spread as a store of value, especially in countries with high inflation. Given this, more and more companies and even countries have started to acquire cryptocurrency for their balance sheets.

This movement intensified in 2021, the same year that BTC hit $69,000, its all-time high to date. With the drop in early 2022, each BTC is worth around $37,200.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
BlackRock (IBIT), the Grayscale Bitcoin Trust (GBTC), Fidelity (FBTC), Ark Invest/21Shares (ARKB), Bitwise (BITB), Franklin (EZBC), Invesco/Galaxy (BTCO), VanEck (HODL), Valkyrie (BRRR), WisdomTree (BTCW), Hashdex (DEFI)

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