The post 6 Best Crypto to Buy on the Dip as Prices Continue to Slide appeared first on Coinpedia Fintech News
Crypto prices have pulled back sharply this week, with Bitcoin (BTC) down over 6% from Tuesday’s high.
This broad market selloff has created buying opportunities in high-quality crypto assets that still have strong long-term prospects.
This article will analyze six of the best cryptos to buy on the dip based on both fundamental and technical factors.
1. Solana (SOL)
Kicking off the list at number one is Solana (SOL), the extremely fast and scalable layer-1 blockchain that has disrupted the crypto space in the past six months.
Despite still being 62% below its 2021 all-time high, SOL has soared 607% in the past year, making it the top gainer among established altcoins.
The network is beginning to see expanding usage from NFT creators and dApp developers, helping it gain market share on Ethereum.
Given that Solana has the theoretical capacity to process over 710,000 transactions per second, it has many advantages over other layer-1 chains that could allow exciting new dApps to emerge.
As such, although SOL has pulled back alongside the broader market, many in the crypto community believe its underlying strength could position it for a rebound once conditions improve.
2. Bitcoin Minetrix (BTCMTX)
Next up is Bitcoin Minetrix (BTCMTX), an intriguing new project aiming to open Bitcoin mining to a broader audience through its innovative staking model.
Rather than requiring expensive specialized equipment, BTCMTX allows users to generate “mining credits” simply by staking their BTCMTX tokens.
These credits can then be redeemed to access cloud mining power and earn BTC passively.
This novel approach provides easy access to Bitcoin mining for those without technical expertise – and also offers yields of 86% per year for stakers.
At the time of writing, BTCMTX is still in its presale phase but has already raised over $7.4 million, indicating strong interest in the project’s concept.
Early investors can buy BTCMTX tokens for $0.0126 during the presale, presenting a limited-time opportunity to get involved at the ground level.
3. Sponge V2 (SPONGEV2)
Another of the best cryptos to buy on the dip is Sponge V2 (SPONGEV2), the next iteration of the popular meme coin Sponge (SPONGE).
SPONGEV2 retains the hype and community of the original token while evolving beyond pure meme coin status by introducing new features.
Planned additions include a play-to-earn (P2E) game where users can spend and earn SPONGEV2, creating built-in demand for the token.
Currently, the only way that investors can acquire SPONGEV2 is through the Stake-to-Bridge mechanism, where SPONGE holders can stake to earn the V2 version as a reward.
At the time of writing, yields are set at an impressive 440% per year.
If the development team executes its roadmap effectively, Sponge V2 could build on the successes of its predecessor, offering a “second chance” to those who missed out during SPONGE’s bull run.
Interested investors can buy SPONGE tokens and stake them using the widget on the sponge.vip website.
4. Sei (SEI)
The fourth coin on our list is Sei (SEI), a specialized layer-1 blockchain designed explicitly for high-speed decentralized trading.
By optimizing for the needs of DEXs and trading platforms, Sei can offer industry-leading speeds and security.
With block times capped at just 380 milliseconds, Sei enables near real-time trade executions – ideal for those who trade crypto.
Recent network upgrades have focused on increasing scalability even more, with Sei’s team also looking to offer Ethereum Virtual Machine (EVM) compatibility.
Despite market weakness in the past few days, SEI has shown resilience, rising 65% since last week.
Given its unique use case, SEI could be another token investors consider buying during the market dip.
5. Meme Kombat (MK)
For investors seeking a project that combines memes, gaming, and solid tokenomics, Meme Kombat (MK) presents a compelling opportunity.
This Ethereum-based platform allows users to watch battles between animated versions of popular memes.
Users can bet on these battles using MK, Meme Kombat’s native token, to earn rewards.
Additionally, users can stake their MK tokens to earn a passive tokenized income over time.
Beyond just battling and staking, Meme Kombat’s team aims to create an engaged community across social media platforms, allowing crypto enthusiasts and meme lovers to interact.
With a clear roadmap for continued growth, including additional game modes and characters, Meme Kombat looks primed for a breakout year.
Prospective investors can buy MK tokens through the ongoing presale for $0.268 using ETH or USDT.
6. Arbitrum (ARB)
Closing out our list of the best cryptos to buy on the dip is Arbitrum (ARB), an Ethereum layer-2 scaling solution that has seen tremendous growth recently.
Arbitrum aims to expand Ethereum’s capabilities by drastically boosting transaction speeds, reducing costs, and adding privacy features.
The network has now cemented itself as one of the largest layer-2 platforms as total value locked (TVL) has passed $2.4 billion.
Sparked by surging use of the GMX Exchange, trading volumes of the native ARB token now top $3.1 billion.
ARB’s value has climbed 20% in the past week while the overall market has pulled back, presenting an opportunity for altcoin investors to get involved before conditions become favourable again.