©Reuters. Crypto Crash: 2 Tokens You Should Buy Amid the Carnage
The recent collapse of parts of the cryptocurrency market has taken many investors by surprise. A year ago, many thought this area had relatively unlimited potential. Today, sentiment has changed a lot as this crypto crash weighs heavily on investors.
Whether we’re talking about the collapse of the algorithmic stablecoin ecosystem (CRYPTO:LUNA) or the recent threats to Celsius and other funds in the sector, there are plenty of potentially systemic headwinds for investors to digest.
In this low-price environment, however, many long-term investors may be looking to dig through the rubble. Here are two top tokens that I think might be worth checking out during this crypto crash.
Concerned about a crypto crash? Keep in mind that everyone has their eyes on Ethereum (CRYPTO:ETH) as it eclipses other blockchains in the non-fungible token (NFT) space. Now Ethereum is named as the leading blockchain by sales volume of all time.
As of May 31, this cryptocurrency has reached $27.5 billion in total sales volume. It is the top blockchain when it comes to NFT transactions. This includes selling, holding, and buying NFT collectibles.
NFT creators prefer this blockchain because they see their digital collection selling better on the platform compared to the others.
This recent increase in Ethereum’s total sales volume is a breakthrough for this crypto as its price action has been bearish. This crypto fell below $1,800 just this past weekend as the market cap of this token also fell below $125 million for the first time in a while.
Despite the market headwinds, many investors are pointing to the robust ecosystem underpinning the Ethereum blockchain as a reason to own this token for the long term. For those with a long investment horizon, this is a project that might be worth a look at these low levels.
Looking beyond Ethereum, let’s now take a look at a top “Ethereum killer”.
Crypto experts informally refer to Solana (CRYPTO:SOL) as the “Ethereum killer” due to its fast transactions. Compared to Ethereum, Solana can process orders of magnitude more transactions at much lower prices.
Granted, Solana has seen some hiccups lately. In fact, network outages and other issues have plagued this token. Accordingly, Solana has seen one of the more violent declines in the top 20 tokens of late.
However, there’s a lot to like about Solana’s underlying technology. The SOL token supports Solana’s permissionless platform, which hosts a number of DeFi applications. For those bullish on DeFi’s future growth, Solana remains a top pick among investors.
Over the long term, I think both Solana and Ethereum offer incredible growth. In this market, value wins over growth. If the tide turns, however, these tokens could be winners that investors won’t want to ignore.
Crypto Crash: 2 Tokens to Consider Buying Amid the Carnage first appeared on The Motley Fool Canada.
Stupid contributor Chris MacDonald has positions in Ethereum and Solana. The Motley Fool recommends Ethereum and Solana.
This article was first published on The Motley Fool