The FTX crash was a major turning point in the crypto market. Due to the massive losses in recent weeks and the loss of confidence in the market, the end of the year should be viewed with pessimism. But a crash is always an opportunity for intelligent investors to invest cheaply and hope for strong price gains. Which altcoins are potentially worth investing now after the FTX crash? Let’s go over the top 5 cryptos to buy after the latest FTX crash.
How did Cryptos Perform recently?
At the end of October and beginning of November, it looked as if the cryptocurrency prices could rise more strongly again. The Bitcoin price temporarily rose above a value of 21,000 dollars. But as a result, the price increase could not continue. Then the crypto exchange FTX crashed.
The crash of the FTT token started an avalanche. Bitcoin price briefly fell below the $16,000 mark and lost more than 25% within a few days. Altcoins have mostly even lost more than 30%. In the last few days, however, prices have stabilized again. Nevertheless, the Bitcoin price is only 16,500 dollars.
Which altcoins could benefit in the future?
Such a crash usually hits the altcoins even harder than the Bitcoin course. While Altcoins usually rise more than Bitcoin when prices rise, the losses in the event of a crash are also higher. But overall, most altcoins have lost less percentage than Bitcoin over the past few weeks, as they have seen strong increases beforehand.
Despite the crash, we can see certain altcoins continuing to move in a positive direction. Although they suffered losses as a result of the crash, they could continue their generally positive price development in the coming days and weeks.
Top 5 Cryptos to BUY After the FTX Crash
In the following we would like to present 5 altcoins that could develop in a good direction after the crash:
1. Uniswap (UNI)
If there can be specific platforms that will benefit from a loss of trust in crypto exchanges, it’s decentralized exchanges (DEX). The largest DEX, Uniswap, has recently made headlines for being the #2 trading Ethereum in one day, overtaking Coinbase. In the last few days, Uniswap has also released 2 new smart contracts (Permit 2, Universal Router) that aim to make the platform more cost-efficient and secure.
2. Litecoin (LTC)
Bitcoin’s “little brother” is often forgotten when it comes to relevant altcoins. Crypto influencer Michael Saylor has now found words of praise about the LTC. He said on Twitter that Litecoin, like Bitcoin, could get status as a “digital commodity” from regulators. With this, Saylor gives Litecoin a status similar to that of Bitcoin. Both can be used similarly as decentralized goods.
3. Cardano (ADA)
Cardano and its CEO Charles Hoskinson are currently planning a new blockchain called Midnight, which will focus on complete privacy. This would make Midnight a blockchain similar to Monero, which is often criticized but also appreciated by many. Hoskinson wants to give access to possible regulators in exceptional cases. Although this step is hotly debated, Cardano is one of the altcoins that have very interesting projects planned for the next few weeks.
4. BNB (BNB)
The Binance Coin or BNB has logically received a lot of attention in the last 2 weeks. In the short term, the BNB price could even rise during the FTX Token (FTT) implosion. Binance CEO Changpeng Zhao recently mentioned that the BNB is not a security. This openness was well received. Binance and the BNB should benefit from the FTX bankruptcy in the medium term.
5. XRP (XRP)
Ripple’s XRP token remains in litigation with the SEC . However, if this argument goes in favor of Ripple, strong price gains are definitely possible for XRP. XRP might be one of the most undervalued altcoins right now.
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Source: https://cryptoticker.io/en/top-5-cryptos-to-buy-after-the-ftx-crash/