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Cryptocurrency prices have crashed as investors worry about their growth amid a highly hawkish Federal Reserve. Bitcoin (BTC/USD) dropped to about $39,000 while Ethereum (ETH/USD) slipped to $2,800. Here are the top 3 altcoins to buy the dip in.
NEAR
NEAR (NEAR/USD) is one of the fastest-growing platforms in the world. According to CoinGecko, it has a market capitalization of over $9 billion and is the 22nd biggest coin. Recently, however, the NEAR price has crashed hard. It has fallen by over 30% from its highest level this month.
Still, there is a likelihood that the coin’s price will soon bounce back. Its catalyst will be the ongoing visibility of the network as it conducts its Nightshade Sharding upgrade. Sharding is the process of breaking down blocks into several pieces known as shards.
By so doing, the network will become significantly faster than most of its peers. Therefore, as the sharding process goes on, there is a likelihood that the coin will bounce back.
Cosmos
Cosmos (ATOM/USD) is a leading blockchain platform that is relatively different from others. It uses the Byzantine Fault Tolerant (BFT) and the Inter-Blockchain Communication (IBC) technology.
Its main goal is to ensure that multiple chains are able to communicate with one another. Today, there are more than 200 cryptocurrencies in the network like Binance Coin, KuCoin, and Crypto.com Coin among others.
Cosmos also has the SDK project that enables developers to build decentralized applications. Some of the best-known ones are Terra and Osmosis. Therefore, Cosmos is a good altcoin to buy the dip in ahead of an upcoming upgrade.
Ethereum
Ethereum (ETH/USD) is the second-biggest altcoin in the world. It is a popular blockchain platform that has come under intense pressure lately. The number of blockchain projects that are challenging Ethereum has been increasing. They include popular names like Solana, Cardano, and Binance Coin. There are also other less familiar names like Osmosis, Kadena, and Mina.
Still, there are several reasons why Ethereum is a good altcoin to buy the dip in. First, Ethereum is migrating to Ethereum 2.0, which is a faster and more reliable network than the original one.
Second, although it is facing strong competition, it still has a strong market share. Finally, if cryptocurrencies rebound, there is a likelihood that most investors will buy Ethereum.