For months cryptocurrencies have been selling off. Even the top cryptocurrencies to buy have lost tonnes of value as the whole industry has sold off.
Late last fall, the industry hit a wall. Then as investors began to rebalance their portfolios and lower their exposure to risk ahead of higher interest rates this year, cryptocurrencies suffered significantly. And although some of the sell-off makes sense, because of the volatility of these assets, many have fallen substantially in value.
So for long-term investors who are bullish on the cryptocurrency industry, the last few weeks have been one of the best times to add to your portfolio. And now, as the industry has started to bottom, it looks like the significant sell-off could be over and cryptocurrencies may finally start to rebound.
So if you’re looking for a top cryptocurrency to buy now, here are three of the best that have all gained at least 10% in the last week.
A top cryptocurrency to buy and hold for years
One of the top cryptocurrencies to buy and hold long term is Ethereum (CRYPTO:ETH), the second-largest by market value.
Ethereum is one of the most revolutionary cryptocurrencies created, a major reason why it has so much value. However, because Ethereum was created so long ago, it has some significant drawbacks that need addressing. Those upgrades are in the works at the moment and should be introduced later this year, which is why Ethereum continues to have so much potential.
In addition, there are several other chains that are compatible with Ethereum. This is important because although Ethereum’s network can be expensive to use, developers and users in the industry haven’t abandoned Ethereum since they can use other chains in its ecosystem.
So naturally, as Ethereum can implement these upgrades and fix congestion issues, its popularity should continue to increase. Therefore, you may want to gain exposure soon, especially if the industry starts to rebound. Already in the last week, Ethereum’s price has gained more than 10%. However, it still offers an attractive entry price to buy now, while the top cryptocurrency trades more than 35% off its all-time high.
A top Ethereum-compatible blockchain
As I mentioned above, there are several Ethereum-compatible blockchains that developers can run their dApps on. In addition, users can easily bridge their tokens from Ethereum’s main network to these other chains.
So right now, some of the top cryptocurrencies to buy are high-quality blockchains like Avalanche (CRYPTO:AVAX). Avalanche was only launched a couple of years ago, but it has already risen to be the eleventh-most valuable cryptocurrency.
The blockchain has become a lot more popular in recent months as more dApps have been deployed on it. This naturally increases the demand for AVAX tokens, which pushes the price higher.
Avalanche is a crypto with a tonne of potential, so you’ll want to buy it sooner than later. In the past week, it has gained 20%, and it’s already up more than 50% from the low it reached on January 22 of this year. Plus, with Avalanche still trading 40% off its all-time high, it’s certainly one of the top cryptocurrencies to buy now.
A top play-to-earn game
The last cryptocurrency you’ll want to consider buying soon is the native token of a top play-to-earn game, Axie Infinity (CRYPTO:AXS). As with most innovations made in the cryptocurrency industry, there is a tonne of play-to-earn games launching lately.
However, Axie Infinity has been one of the favourites and already gained a lot popularity, despite the full game not even being fully released yet as it continues to see upgrades often. The game, which is built on Ethereum’s blockchain, allows players to collect, breed, battle, and trade in-game pets called Axies. And because many of the in-game assets are NFTs, they are easily tradeable.
Play-to-earn games like this, that empower the users and reward them for their contributions to the game’s ecosystem, are some of the best developments to come from blockchain technology. So naturally, games like Axie Infinity will continue to gain popularity as the cryptocurrency industry continues to become more mainstream.
Therefore, if you’re looking for a top cryptocurrency to buy now, AXS has already gained 15% in the last week.
