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The crypto market began the final week of May 2022 on an uptrend. Crypto analysts believe that we might see assets recover some of their lost gains in the coming days. As a result, this might be an ideal time to discover the best coins to buy this week.
We’ve provided a list of 10 of the most attractive assets in the market for crypto investors looking to capitalise on the market downturn and earn gains.
1. Lucky Block (LBLOCK)
First on our list of the best coins to buy this week is LBLOCK. The digital asset is the native token for Lucky Block – an innovative online gaming platform that focuses on optimising transaction transparency and fairness using blockchain technology.
LBLOCK’s price is $0.0027 – an increase of 3.63% in the past 24 hours. This price jump is primarily due to the launch of Lucky Block’s prize pool program this month. Lucky Block is giving up to $2.3 million away, allowing community members to enjoy both cash and prizes.
The first draw for the prize pool is anticipated to occur on May 31. Lucky Block’s developers have also confirmed that their web app will launch on May 30.
LBLOCK is also more readily available as investors can now purchase the asset with fiat on the Lucky Block website. This purchase option presents a much better procedure than purchasing Binance Coin (BNB) and exchanging it for LBLOCK on decentralised exchanges.
2. Bitcoin (BTC)
Bitcoin is one of the best coins to buy this week. The digital asset leads the entire crypto market, and any gains this week would most likely begin with Bitcoin. As a result, the digital asset is especially attractive for investors looking for low-risk gains.
Trading at $30,560, Bitcoin is up by 0.98% in the past 24 hours. While there hasn’t been much in terms of fundamental news, Bitcoin is getting a boost from the broader economy. The U.S. dollar index (DXY) has been trading down for a week now, with major stock indices also recording increasing losses. As the macroeconomic environment looks bleak, we expect to see a rush for Bitcoin as investors seek to cap their losses this week.
3. Binance Coin (BNB)
Here we have BNB, one of the best coins to buy this week. The digital asset has so far maintained its status atop the charts
With a current price of $326.7, BNB is up by 2.32% in the past 24 hours. The digital asset has seen gains primarily because of Binance – the world’s top exchange. Besides recently re-opening trading for Terra’s embattled LUNA token, Binance has also added support for Optimism – an Ethereum layer-two scaling solution that is expected to improve transaction speeds on the platform.
4. Cardano (ADA)
ADA powers Cardano Network – one of the most popular high-performance blockchain platforms in the market.
The digital asset currently trades at $0.54 – a jump of 0.57% in the past 24 hours. ADA’s price is a result of Cardano’s continued increase in user adoption. Data from Google’s Data Studio indicates that a daily average of 2,000 ADA wallets have been added to the network over the past month.
5. TRON (TRX)
TRX is another large-cap coin that makes our list of the best coins to buy this week. The digital asset, which powers the TRON blockchain, has remained in the limelight due to a string of strong performances in the face of the market downturn.
TRX currently trades at $0.07, down by 1% in the past 24 hours. Despite the market downturn, TRX is up by 16% in the past month.
We believe there are several reasons why TRX has outperformed the general crypto market. The TRON blockchain is now the third-largest in terms of total volume locked for DeFi, and they recently launched USDD – a dollar-backed stablecoin.
With investors looking to diversify their stablecoin portfolio following the UST crash, we expect to see many of them move to this coin.
6. Aave (AAVE)
Aave is one of the leading lending protocols in the decentralised finance (DeFi) space.
Trading at $100.90, AAVE is up by a comfortable 7.23% in the past 24 hours. The digital asset is benefiting from the launch of Lens Protocol – a decentralised social media platform looking to rival Twitter.
7. Polygon (MATIC)
With the Polygon ecosystem expected to expand, MATIC just might be one of the best coins to buy this week.
MATIC, Polygon’s native token, currency trades at $0.68 – up by 1.68% in the past 24 hours. The digital asset is benefiting from several Polygon-based developments, including the network’s hosting of Aave’s Lens Protocol social media platform.
Ryan Watts, Polygon’s chief executive, has also confirmed that they are working with projects on the embattled Terra blockchain to discuss how they can seamlessly migrate to Polygon. An increase in network activity is sure to spur Polygon and, by extension, MATIC.
8. FTX Token (FTT)
With FTX expanding its suite of services and raising millions in funding, many have bought into the exchange’s growth by investing in FTT.
With a price of $30.38, FTT is up by 0.13% in the past 24 hours. We expect to see the coin rise even higher as FTX has announced its foray into traditional stock trading. The feature is expected to come to select US users first, allowing them to enjoy commission-free trading in stocks and exchange-traded funds (ETFs).
9. ApeCoin (APE)
Not many cryptocurrencies have been able to gather the type of investor attention that ApeCoin has since its launch.
Trading at $8.08, APE is up by 0.70% in the past 24 hours. The digital asset has garnered investor interest as recent reports confirmed that the decentralised autonomous organization (DAO) controlling the coin is looking to migrate from the Ethereum blockchain.
This ApeCoin DAO is reportedly looking into the Avalanche and Flow blockchains. The move was reportedly spurred by issues with Ethereum, which cost investors over $100 million in transaction fees in the recently-concluded Otherside metaverse auction.
10. The Sandbox (SAND)
Last on our list of the best coins to buy this week is SAND – the native token for The Sandbox metaverse ecosystem.
The digital asset is trading at a price of $1.43 – up by 3.22% in the past 24 hours. This jump is primarily due to The Sandbox’s acquisition of Cualit – an Uruguay-based technology company.
As part of the deal, Cualit will become The Sandbox Uruguay and help improve their platform’s user experience while accelerating the adoption of Web3.
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