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Bear markets and pessimistic investor attitudes are both common occurrences in the cryptocurrency market, just like they are in the stock market. The cryptocurrency market has recently been hit by a series of significant price drops, which have caused the value of most tokens to fall by more than 50% relative to their all-time highs in a couple of months.
Since November, when it was valued at more over $3 trillion, the whole cryptocurrency market has fallen to a value of about $1.3 trillion as of the previous week. The market for cryptocurrencies, on the other hand, has shown signs of improvement during the previous several days.
As investors rush back into this high-risk transaction in large numbers, the market for cryptocurrencies is getting dangerously close to crossing the $2 trillion threshold. It is not clear if this indicates that the crypto winter that everyone was predicting only one week ago has ended or whether it will continue.
On the other hand, it is unequivocally obvious that positive momentum has at long last returned to the cryptocurrency industry. Long-term investors in cryptocurrencies have witnessed market downturns in the past that were considerably more severe and lasted for much longer than what they are experiencing now.
As a result, investors who are looking to acquire high-quality cryptocurrency projects at a reduced cost may find this downturn to be an appealing opportunity. This brings to light the most burning question every investor will have, “Which cryptos should you invest in which are cheap and are worth holding for a long time?”
Fear not, your question has been answered in this article. Check these 5 cryptos available at a low price now as they are fundamentally sound.
5 Fundamentally Sound Cryptos to Buy Now
1. Ethereum (ETH)
Ethereum, which is the world’s second-largest cryptocurrency at the moment, is a vital asset for the majority of long-term cryptocurrency investors. Ethereum (ETH-USD) is widely considered to be the cryptocurrency to watch after Bitcoin (BTC-USD). The decentralized finance (DeFi) movement has grown to rely heavily on this network, which makes it possible to create smart contracts.
This is why investors probably won’t be too shocked to find that the value of this coin has increased by about 30,000% over the course of the last five years. Those are without a doubt, quite respectable returns over the long term for investors.
The early use of smart contracts within this network proved to be beneficial to Ethereum’s development. On the Ethereum network, there are around 2,900 different kinds of decentralized apps (dApps) at the moment.
Ethereum is anticipated to become the basis upon which other blockchain-based solutions will be built as the world continues its hunt for more blockchain-based solutions. This network is in the process of undergoing a significant update that will bring about the implementation of Ethereum 2.0. This year, it is anticipated that Ethereum 2.0 will finally be ready for use in its entirety.
This upgrade brings with it the possibility of higher speeds and reduced expenses, which is a driving factor of investor confidence in this token right now. This update includes potential for higher speeds and lower costs.
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2. Litecoin (LTC)
Litecoin is one of the “old guard” tokens that has been in existence almost from the inception of the cryptocurrency industry. Its current market value ranks it as the 20th largest cryptocurrency in the world.
The price of one of these tokens skyrocketed to more over $400 in the past year, but it has subsequently returned to around $135 as of the time this article was written. In point of fact, there has been a considerable amount of adverse emotion behind this token as of late, maybe for a valid cause.
It appears that the majority of people that invest in cryptocurrencies are interested in DeFi, Web3, NFTs, and other “use cases” in the cryptocurrency realm. The majority of the initiatives that are associated with these expansion areas are connected to Ethereum, Solana, or other layer-1 networks that enable the capabilities of smart contracts.
On the other hand, Litecoin is more analogous to Bitcoin in the sense that this token is seen more as genuine “money” that can be exchanged for goods and services. It’s a lot of fun to conduct transactions using the blockchain.
On the other hand, everybody does it. The features that set Litecoin apart from other cryptocurrencies haven’t been very prominent as of late. Having said that, investors who are positive about Bitcoin should also consider Litecoin as an alternative. The network for this currency is about four times quicker than that of Bitcoin.
On a per-transaction basis, it is also far less expensive than Bitcoin. Consequently, individuals who are concerned about the effect that congestion on large-scale networks like as Bitcoin will have on the future of this cryptocurrency might wish to have a look at the alternatives available. Litecoin is one of the larger alternatives when seen from this perspective.
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3. Solana (SOL)
Solana is now at the forefront of most investors’ minds as one of the cryptocurrencies that are sometimes referred to as “Ethereum killer.” Solana is now the project with the eighth-largest market valuation among cryptocurrencies, and it is a really exciting one to investigate.
Due to the fact that it uses smart contracts and a validation method based on proof-of-stake, Solana has an edge in both speed and cost that should be taken into consideration. The infrastructure behind Solana is what sets it apart from other cryptocurrencies and provides it an advantage.
The proof-of-history (PoH) system that Solana uses is one of a kind, and the network supports 400 decentralized applications. This solution frees Solana from the burden of confirming the timestamps of each every transaction and makes it possible for the company to run many blockchains simultaneously.
According to recent reports, the Solana network is capable of handling up to 50,000 transactions in a single second. In addition, the gas fees that are imposed for each transaction on this network have lately been set at an extremely affordable $0.00025.
These principles are difficult to compete with, which is why Solana is a network that is worth keeping an eye on over the long run. These foundations were also essential in the development of Solana Pay, a platform that enables retailers to accept cryptocurrency payments. This is a major trigger that investors should keep a close watch on right now.
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4. Cardano (ADA)
It is interesting to note that Cardano only just exceeded Solana in terms of market capitalization. Another “Ethereum-killer,” this top proof-of-stake network is commonly believed to be the world’s biggest pure proof-of-stake network that currently exists.
Cardano has a number of advantages for long-term investors who are willing to buy the dip despite the fact that its price has fallen by more than 60% since it hit its all-time high in September of last year. This network is one that is currently working toward the goal of making the world a better place.
The creation of wholly new economies and widespread adoption of Cardano’s ADA token by large-scale enterprises are two of the goals that are hoped to be achieved by the cryptocurrency.
In order to make this a reality, Cardano has been putting a lot of effort into expanding its developer base and developing an environment for decentralized applications. The fact that Cardano is so concerned about the state of the planet is one of the aspects of this network that is most interesting.
More than one million trees have been planted as part of the Cardano Forest Project, which has been supported financially by the Cardano Foundation. This is being done to help offset the carbon emissions that are produced by the network.
It is hoped that Cardano will one day become carbon-neutral, or perhaps carbon-negative, network, which will make the world a significantly better place. Lastly, the fact that Cardano is working to address its scalability problem is a positive development that contributes to its potential.
ADA’s transaction speed is far slower than that of other Ethereum Killers, clocking in at 257 TPS. On the other hand, it is anticipated that the next Hydra 0.2.0 version would be able to assist the Cardano network in conquering these problems. This upgrade should enable a transaction pace of up to 2 million per second, allowing for increased efficiency.
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5. Axie Infinity (AXS)
A coin with a focus on the Metaverse Over the course of the past year, Axie Infinity’s popularity has surged with that of its contemporaries associated with the Metaverse. However, similar to those of its competitors, the price of Axie Infinity’s token has not been doing all that well as of late.
AXS has fallen significantly since its all-time high of more than $165 per token, and it is now trading around $65 at the time of this writing. This precipitous drop is a continuation of the pretty widespread de-risking that has been observed in the general cryptocurrency market.
Many investors who are still optimistic about the Metaverse may just have cashed out their positions early in the expectation of making more purchases at a lower price in the future. Axie Infinity’s value has, to say the least, decreased. Those interested in purchasing on the drop now have the opportunity to do so.
Despite this, the AXS token has been performing quite well since the beginning of February. As interest in the Metaverse begins to grow once more, the price of this token has increased by over half from its low point in early February.
Those who are interested in long-term growth will find the Metaverse to be an attractive avenue to park their investments. As a direct result of this, there is a high priority on keeping an eye on this token right now.
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