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5 Best Cryptocurrency to Buy for Long-Term Returns May 2022 week 4

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best 'buy the dip' cryptocurrency to invest in now
best 'buy the dip' cryptocurrency to invest in now

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As the bulls gradually return to the Crypto market, investors are finally reminded of why they need the best cryptocurrency to buy for long-term returns. These digital assets are known to post consistent returns in the long term. Here are our best picks.

1. Lucky Block (LBLOCK)

The LBLOCK token from Lucky Block is our top pick for the best cryptocurrency to buy for long-term returns.

LBLOCK Price ChartLucky Block intends to revolutionise the online gaming industry. The platform’s appeal stems from its user investment structure, governance votes, and the potential for long-term holders to profit from jackpot winnings.

Lucky Block allows for many drawings per day, increasing players’ chances of winning while minimising their gaming costs. The platform employs distributed ledger technology (DLT) to deliver speedier payouts and thorough documentation and verification. Also, Lucky Block uses Chainlink VRF to provide a reliable source of randomisation.

By locking in their tokens, LBLOCK holders can compete in the daily jackpot. At the end of the game, an individual will receive 70% of the jackpot, 10% will be given to charity, 10% will be spent on promotion, and 10% will be distributed to all LBLOCK token holders based on the number of their tokens.

On the 31st of May, Lucky will debut its much-anticipated free daily jackpot prize draws. The network has confirmed May 30 as the launch date for its online app.

Lucky Block continues to attract seasoned crypto users and individuals from traditional giveaway platforms who are attracted to the platform’s free entrance and crypto-specific transparency benefits. Investors can now buy Lucky Block with fiat currencies on the website using crypto-wallets.

At press time, LBLOCK trades at $0.002499, a downtrend of 4.35% in the last 24 hours. However, the digital asset has seen a surge of 88.72% in the past 7 days, indicating great potential.

2. Cardano (ADA)

Cardano’s token ADA comes next on our list of best cryptocurrency to buy for long-term returns.

ADA Price ChartCardano is a blockchain that uses the Ouroboros proof-of-stake (PoS) consensus process to approve transactions swiftly. The blockchain aims to create a scalable decentralised network that can validate transactions quickly and efficiently while using as little energy as possible.

Cardano has two layers: the Cardano Settlement Layer (CSL) and the Cardano Computing Layer (CCL). The CSL contains the account and balance ledger and is where the Ouroboros consensus mechanism validates the transactions. All computations for apps running on the blockchain are performed in the CCL layer, using smart contract operations.

Output Input Honk Kong (IOHK), the firm behind Cardano, has announced the opening of its Project Catalyst Fund9 in June. This announcement comes after the firm concluded the Fund8 round and revealed the winners.

According to the report, the project will obtain 1,000 ideas. The initiative has already received $16 million in ADA ecosystem incentives and grants from IOHK. Administrators of the project stated that the project is expected to significantly increase participation and improve the Cardano Network.

ADA currently trades at $0.51. The crypto asset has seen a downtrend of 0.30% in the last 24 hours and has shrunk by 8.01% in the past 7 days. Despite this, the relative strength index is in the underbought zone of 50.86. Investors can take advantage of this dip in price and buy Cardano till the broader crypto market stabilises.

3. Polkadot (DOT)

Polkadot’s native token DOT is next on our list of the best cryptocurrency to buy for long-term returns.

DOT Price ChartPolkadot is a sharding system that connects and secures a network of specialised blockchains. The system communicates with many blockchains simultaneously using a relay chain concept (parachains). DOT holders will benefit from Polkadot’s security and throughput.

Polkadot has a user-driven governance structure, meaning that all token holders have a vote in how the system is administered. Polkadot also allows developers to customise their blockchain governance to their individual needs.

Nominators, validators, and collaborators all have various roles in keeping the network safe and secure while also preventing undesirable behaviour.

Moonbeam, Polkadot’s top multi-chain app destination, has announced a cross-chain connection with the Acala network, allowing native conversations and token transfers between the two chains without bridges.

As a result of this connection, the chains’ base utility tokens, ACA, GLMR, and aUSD, Acala’s decentralised stablecoin, will now be freely moved and used across both parachains’ DeFi ecosystems.

At press time, DOT trades at $9.97, a rise of 0.27% in the last 24 hours. The crypto asset has seen a downtrend of 3.99% in the past 7 days. Despite this downtrend, DOT still ranks 11th on the global crypto charts. Also, Polkadot currently commands $10 billion in market cap. If you are keen, you can buy Polkadot using our detailed guide. 

4. Tezos (XTZ)

XTZ, Tezos’s token, is next on our list of best cryptocurrency to buy for long-term returns.

XTZ Price Chart Tezos is a cryptocurrency and decentralised computing platform with formal verification and proof of stake (POS) consensus. Developers can validate their code with these tools, and stakeholders can vote on protocol changes.

The computing platform offers a more scalable foundation for dApp development. The future-proof architecture of Tezos allows it to scale without requiring a hard fork. Also, users in the DeFi, NFT, and Metaverse ecosystems benefit from Tezos’ high-performance and low-cost transactions.

Baking is the process of creating and validating blocks in Tezos. XTZ holders who stake their tokens can obtain XTZ tokens as compensation for making and verifying blocks.

Tezos Foundation, the computing platform’s non-profit arm based in Switzerland, has paid £1 million to establish a permanent collection of non-fungible token (NFT) art on its platform.

Misan Harriman, the director of the Southbank Centre in London, will curate this collection, which will debut as a digital art gallery on the foundation’s website this summer. Harriman intends to purchase works by emerging African and Asian artists underrepresented in the NFT community.

XTZ currently trades at $2.03, a drop of 2.90% in the last 24 hours. The crypto asset has also seen a surge of 11.81% in the past 7 days. XTZ’s relative strength index (RSI) is in the underbought zone of 39.86. This value indicates an opportunity for investors to buy Tezos at its current bargain price for long term gain.

5. Avalanche (AVAX)

AVAX, Avalanche’s token, completes our list of the best cryptocurrency to buy for long-term returns.

AVAX Price ChartAvalanche, the Layer 1 blockchain, is a platform for decentralised applications (Dapps) and specialised blockchain networks. The blockchain intends to boost transaction output to over 4,500 per second while maintaining scalability.

On Avalanche, there are three levels: X-Chain, C-Chain, and P-Chain. In contrast to the Bitcoin and Ethereum blockchains, each of Avalanche’s chains serves a different purpose. As a result, all nodes are required to validate all transactions.

Valkyrie Investments has incorporated an Avalanche-focused trust into its portfolio of cryptocurrency funds. Valkyrie Avalanche Trust (VAVAX) only invests in AVAX, Avalanche’s native cryptocurrency.

According to the firm, the Trust’s principal investment objective is to reflect the value of Avalanche stored within and provide investors with insurable, cost-effective access to the digital asset.

At press time, AVAX’s price is $28.46, a drop of 1.71% in the last 24 hours. However, the digital asset has seen a downtrend of 13.91% in the past 7 days.

AVAX remains slightly bearish while trading below the simple moving average (SMA) indicator of $28.50. The relative strength index (RSI) of 50.86 also indicates that the asset is in the underbought zone. This indication creates an opportunity for investors to buy Avalanche at this bargain price and hold for the long term.

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