Crypto Crash Shopping: Top 5 Altcoins to Consider After the Latest Crypto Drop
The latest crash showed that the bear market may be far from over - but some assets are becoming attractive for medium to long-term holds.
During the latest rounds of crashes, coming roughly every couple of weeks, altcoins have taken a beating and lost more in comparison to Bitcoin (BTC). There is no guarantee that altcoins have seen bottom prices and there is still talk of a “capitulation” event, in which altcoin holders give up on their portfolios, and even liquidate masternodes.
At this point, picking up altcoins for guaranteed returns may be a futile game, however, if you’re still looking to fill some bags, here are the top 5 altcoins to consider during this crash.
TRON (TRX): Recently, the TRON network launched its virtual machine, and now there are more than 300,000 accounts for TRON users. It is unclear what the network would be used for, but owning TRX is a way to participate in the community, and watch the developments more closely.
TRX is at $0.02 as of 10:00 UTC on Thursday, having lost more than 16% net in the past 24 hours. Even if TRX goes lower, the current price allows for easily buying some TRX for voting, as well as testing the system.
Other coins in this price range, which have the features of a survivor, include DigiByte (DGB), Bytecoin (BCN), and Verge (XVG). Relatively low-priced assets keep attracting users where more expensive coins look more prohibitive. Low-priced coins also recall the early days of crypto, and allow for community engagement while waiting for better times on the markets.
Ethereum Classic (ETC): This digital asset has a relatively low, and a rather stable price. It also has a stable network with a solid development team and is now on Coinbase. ETC sees active trading on the Asian markets. After the latest crash, ETC slid by around 13% as of 10:00 UTC, going down to $11.40.
ETC may also be a good alternative to Ethereum but without the attempt to make mining obsolete. While there are very few ICOs on the Ethereum Classic network, the coin remains useful as a digital currency. In this price category, NEO (NEO) is also a reasonable choice, as the price sank again below $20. The NEO network carries a few prominent ICOs, and is also a dividend-paying asset, sending out GAS each month.
DogeCoin (DOGE): This low-grade, comic digital asset may actually serve a valuable role. For one, it is a fast and cheap way to transfer funds between exchanges. DOGE is always relatively cheap - although at the current prices, it may be wiser to wait and see where DOGE is going. This asset is easily exchangeable for other coins, and recently had a USDT pair added on Bittrex. This means the price of DOGE may become more independent from Bitcoin prices, serving to offset some of the market risks. DOGE is also a coin co-mined with Litecoin (LTC), ensuring a large and secure network.
Stellar (XLM): The Stellar network is here to make a difference. Stellar offers an already functioning network of nodes and a semi-centralized system of consensus to ensure speed and low fees. While for some the Stellar network is too centralized, the XLM asset has now become more accessible. XLM also remains relatively robust in BTC prices. In the latest crash, XLM slid within minutes from $0.21 to $0.19 at around midnight UTC, and has kept to those levels. XLM is set to support the Kik app and serve in place of the KIN Ethereum token for faster, cheaper transfers. Buying some XLM now may be useful to explore a promising digital ecosystem.
VeChain Thor (VET): As a platform coin, this is one of the projects with a robust launch and an idea of serving the logistics industry. VET remains a risky proposition. However, the relatively low price of VET is still seeking direction. At $0.015, VET is also accessible enough. A large part of the coin’s supply is locked for staking, and the coin distributes the VTHO asset, which may move on to gain value on its own. VET is a relatively accessible way to bet on new platform coins. At this point, NEM (XEM), with a price sinking as low as $0.08, may be a good choice too.
At the current depressed prices, buying into an altcoin may be done with a medium to long-term timeframe. Most of the projects have to evolve and prove themselves. However, with prices for many coins returning to pre-boom levels, buying now allows for a more affordable exposure.
Altcoins are extremely risky, and another 90% loss is not out of the question, as there are no hard and fast criteria for the valuation of tokens and coins. However, with attractive use cases and improved technologies, some of the assets keep growing their communities and may remain staples in the crypto world in the coming years.
Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.