Cryptocurrency prices rebounded in the overnight session after Joe Biden announced a new set of sanctions on Russia. Still, they remain substantially lower than where they were in 2021. Therefore, here are some of the top cryptocurrencies to buy considering they have become significantly cheaper.
Terra (LUNA) is a leading South Korean blockchain project that is seeking to disrupt the financial industry. The network is built using the Cosmos SDK and is well-known for its stablecoins. The biggest stablecoin in its ecosystem is known as TerraUSD.
Terra is also a platform that enables developers to build decentralized applications (dApps). According to DeFi Llama, there are about 5 confirmed apps in its ecosystem that have a total value locked (TVL) of over $14 billion. This makes it a bigger platform than all other layer 1 projects except Ethereum.
The LUNA price is trading at $67, which is about 40% above the lowest level this week. It is rising as investors cheer the $1 billion that the Luna Foundation raised this week. Therefore, Terra will likely outperform other cryptocurrencies in the future.
Hedera Hashgraph (HBAR) is a leading blockchain project that targets enterprise users. It is an Ethereum-killer that has better features such as fast speeds and lower transaction costs.
Hedera is a bit different from other coins for a number of reasons. For example, it is owned and governed by a group of the biggest companies in the world like Ubisoft, Google, IBM, and ServiceNow.
Today, many of these companies are already building applications and non-fungible tokens using its ecosystem. For example, Ubisoft, one of the leading gaming companies has a partnership with Hedera on NFTs.
HBAR, Hedera’s native token, has a total market capitalization of over $4.2 billion, making it the 32nd biggest coin in the world.
Another cryptocurrency you might want to buy the dip in is Chainlink (LINK). Chainlink is a powerful blockchain project that dominates the smart oracle industry. Its main role is to ensure that other decentralized applications work well. It achieves this by helping the developers connect off-chain data to the blockchain ecosystem.
The Chainlink price has dropped by more than 65% from its all-time high while its ranking among cryptocurrencies has slipped. However, if the industry lives to its hype, there is a likelihood that the LINK price will do well as its demand rise.