VET - 3 Fire-Sale Cryptos to Buy Right Now
Blockchain technology, and the cryptocurrencies that power the blockchain, are often viewed by investors as innovative long-term bets on growth. Through the end of last year, bullish bets on this sector paid off handsomely. However, this year, high-flying tokens have, in many cases, become fire sale cryptos no one wants to touch.
The saying “buy low and sell high” sounds great. That said, it’s harder to implement in practice than in theory. When everyone’s selling, it’s easy to run for the exits.
However, those looking to pick up some cryptos that appear to be on fire sale may want to take a look at these three lesser-known tokens right now.
Top fire-sale cryptos to buy: VeChain
VeChain (CRYPTO:VET) was one of the big winners from last year’s rally in crypto markets. This project’s unique focus on integrating blockchain technology with supply chain tracking has garnered tremendous interest — for good reason.
Via QR codes, VeChain allows shippers to store their package tracking information on the blockchain. Remember, blockchain technology is, at its core, a digital ledger. This move makes sense and provides a real-world use case in which VeChain creates meaningful utility for end users.
However, during the recent market downturn, VET (VeChain’s native token) has declined precipitously. Trading at just $0.03 per token at the time of writing, this crypto is now down approximately 85% from its 52-week high.
For those thinking long term about the projects that create real value in this sector, VeChain is worth keeping on the radar right now.
Basic Attention Token
Basic Attention Token (CRYPTO:BAT) is a utility token that also relies on the idea of creating value for end users. In Basic Attention’s case, the goal is to provide digital marketers as well as consumers of information with value when browsing the internet.
Basic Attention Token powers the Brave browser, which looks and feels a lot like Google Chrome. That’s because Brave is based on the same source code and has essentially the same functionality.
However, users are compensated for units of their attention (how many ads they view), with marketers able to more efficiently track their return on investment on how many people view their ads. This model is intriguing to many investors and appears to be seeing impressive growth, despite the market downturn.
That said, like most tokens, BAT is down significantly. At $0.40 per token, Basic Attention Token is down roughly 80% from its 52-week high.
Curve Finance
Finally, we have Curve Finance (CRYPTO:CRV) , one of the world’s largest decentralized exchanges. In the world of decentralized exchanges, there’s been plenty of concern of late tied to liquidity issues with other major players. In most respects, Curve has managed to skirt most of the heat.
Curve’s unique liquidity pools and the potential for an over-collateralized stablecoin to be released are some of the key reasons long-term investors like this project.
However, this token is down considerably from its peak on these concerns. Currently, CRV tokens can be had for around $1.35 per token at the time of writing. Compared to this token’s 52-week high of $6.74, investors are able to pick up Curve at an 80% discount.
The post 3 Fire-Sale Cryptos to Buy Right Now appeared first on The Motley Fool Canada .
Fool contributor Chris MacDonald has no position in any of the stocks mentioned. The Motley Fool recommends Basic Attention Token and Curve DAO Token.
2022