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The crypto market is off to a slow start for yet another week, erasing all the gains made over the past few days. While the market sentiment remains relatively negative, the most opportunistic investors understand that downturns are the best time to make an investment. As a result, many of these investors are looking to find the top cryptos to buy this week.
In this article, we’ll explore digital assets with the best prospects as well as the factors surrounding their price prospects.
1. Lucky Block (LBLOCK)
Starting off our list of the top cryptos to buy this week is LBLOCK – the native token for the Lucky Block ecosystem. Lucky Block was built as an online gaming platform, allowing players to enjoy access to an ecosystem of games.
The gaming platform is available to players across the world, with LBLOCK serving as an entry point into its ecosystem. LBLOCK, which launched in January 2022, has so far been one of the most exciting coins to watch in the market.
Currently, LBLOCK trades at $0.000890. The crypto asset is down by 14% in the past month.
However, there is a lot of excitement surrounding the Lucky Block ecosystem. Investors will be looking to buy Lucky Block as the platform is currently in the midst of a massive prize pool. Lucky Block’s developers are looking to give $1 million in rewards to community members who buy $5 worth of tickets or own at least $500 worth of LBLOCK. The prize pool began last week and is expected to run until the end of this week.
Only 5 days left! ⏰
Is there a better way to finish your Sunday than by securing a spot in the next draw? 🤔
Exactly 🤩 Go get your tickets now at https://t.co/ZG3icHqoL0#crypto #cryptogames #blockchain #BSCGem pic.twitter.com/dcqjPDrrRZ
— Lucky Block Casino (@luckyblockcoin) June 12, 2022
There is also a non-fungible token (NFT) giveaway, where Lucky Block is also looking to give away $1 million in rewards. Eligibility for this is ownership of Lucky Block’s Platinum Rollers Club NFTs.
2. Chainlink (LINK)
Another option among the top cryptos to buy this week is LINK. The digital asset is the platform token for Chainlink – a decentralised oracle service that feeds off-chain data to blockchain smart contracts. Chainlink is crucial for the operation of most decentralised finance (DeFi) protocols.
At press time, LINK trades at $5.59. This is an 18% drop in the past month, in line with most large-cap coins that have seen double-digit drops in the same period.
We believe that the current development of the Oracle ecosystem makes this an excellent moment to buy Chainlink. Last week, Chainlink Labs released a product roadmap for the protocol, announcing that they would be introducing LINK staking very soon.
Staking marks the start of #Chainlink Economics 2.0, a new era for the long-term security and sustainability of oracle networks.
In this update, we define the long-term goals, roadmap, and initial implementation of staking in the Chainlink Network.https://t.co/WJkoUzPA0i
— Chainlink (@chainlink) June 7, 2022
Staking is one of the most exciting activities in the market, allowing investors to enjoy passive income. We believe that this will spur many investors to buy LINK going forward, setting its price up for more gains.
3. Cardano (ADA)
Already one of the most popular blockchains in the market, Cardano has continued to grow. The introduction of smart contacts has led to a massive influx of developers. And many investors continue to buy Cardano as they believe the asset has more untapped potential.
Trading at $0.45, ADA is down by 11.7% in the past month. The crypto asset has managed to show some gains within the month, but broader market forces continue to weigh on large-cap coins, and ADA hasn’t been spared.
The biggest reason to buy Cardano now is the upcoming Vasil hard fork. Cardano’s developers have claimed that the hard fork will address some of its scalability issues, putting it on par with several other top blockchains.
As of today, nearly 900 projects are #BuildingOnCardano⚒️ And this number goes up day by day. Keeping track of all the news from this incredible ecosystem is not easy & this is why every week we compile an ecosystem digest with highlights & updates. 🧵⤵️#Cardano $ADA
— Input Output (@InputOutputHK) April 18, 2022
This shows that Cardano is looking to become even more competitive and attractive to developers.
4. Binance Coin (BNB)
BNB is tied to the market’s leading exchange, and positive news on Binance usually leads to bumps in the BNB price.
At press time, BNB trades at $221.73. The coin is down by 20.5% in the past month, with the general market downturn taking a heavy toll on its price.
Despite the current downtrend, the crypto asset’s ties to one of the most recognisable brands in the crypto space means that it will always be on investors’ watchlists.
Binance has been making several moves as it looks to expand. The broker recently announced a $500 million investment fund that looks to support Web3 and blockchain startups, and it recently got approval to operate in Italy.
Expansion for Binance will only boost adoption for BNB, providing an ideal opportunity for investors to buy Binance Coin and gain.
5. Solana (SOL)
Solana, a high-performance blockchain, is one of the foremost Ethereum killers – blockchains looking to capitalise on Ethereum’s scalability issues to usurp the top smart contract blockchain title.
The blockchain’s native SOL token currently trades at $27.14. This is a drop of 43% in the past month, with SOL seeing bigger drops than most large-cap assets.
We believe that SOL remains one of the top cryptos to buy because Solana Ventures – the blockchain’s developers – remain committed to growth. They already fixed the blockchain downtime that plagued Solana a few weeks back. Also, they recently launched a $100 million fund that will go towards the DeFi and GameFi spaces.
As the market works towards flipping bullish, investors will want to buy Solana to enjoy gains as it recaptures some of its lost highs.
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