By EWN • 10 December 2022 • 14:00
The long crypto winter of 2022 has made investors wary of throwing too much money at any given token. With marketing teams working overtime, it can be difficult to cut through the hype and decide what crypto to buy now. The cheapest cryptocurrency isn’t necessarily the best cryptocurrency to buy. Fortunately, a bevy of top cryptocurrencies priced under a dollar make it easy to build a diverse portfolio while overall market pressure keeps costs artificially low. Here are eight of the best cryptos to buy now, each of which has a place in every portfolio built for medium- to long-term growth.
1) BudBlockz (BLUNT)
Some cryptocurrencies base their valuation on technological innovations. Others rely on real-world assets and holdings of fiat financial instruments. Still others, like meme coins, are happy to declare that they hold value simply because people enjoy using them. BudBlockz reflects all three of those approaches to valuation, making it the most exciting debut we’ve seen in years and a remarkable opportunity for growth investment.
To be clear, BLUNT’s debut is ongoing. Its private sale sold off early, and the second phase of its presale is scheduled to end on November 20, two weeks before its official launch in early December. But the excitement isn’t all speculative: during its presale alone, BLUNT has appreciated more than 200%.
Behind this intense early interest in BLUNT lies a thoughtful roadmap that seeks to take advantage of the retail cannabis market’s explosive growth without getting too far over its skis. An innovative marketplace, for instance, will allow BudBlockz members to purchase fractional ownership in real-world businesses all along the cannabis supply chain. To help physical cannabis outlets reach more customers, BudBlockz is planning a flexible network of virtual dispensaries and a payment-processing network that eschews the clunky ATMs of yesterday for a lightweight, nimble point-of-sale system. And since it wouldn’t be a marijuana-themed crypto without a sense of fun, the BudBlockz arcade will introduce P2E gaming to the platform.
Best of all, BudBlockz has deliberately underpriced BLUNT in its pre-launch stages in order to build a community more quickly. At less than $0.05, it’s an immensely promising growth opportunity that anyone can seize.
2) Tron (TRON)
The second-most-traded cryptocurrency by total value locked (behind only Ethereum), TRX has nonetheless traded at just over a nickel throughout 2022 while retaining a heartening share of its value. Give TRON this: it keeps itself in the headlines. The Layer 1 Ethereum rival has struck deals with national governments, experimented with its own stablecoin, and launched founder Justin Sun into the limelight, where he too has remained.
There’s substance behind the splashy news, too. TRON started as an ERC-20 token before establishing its own platform away from Ethereum, but it bills itself as a similarly developer-friendly environment that scores high marks for speed, efficiency, and cost-effectiveness. Those are all fine things, but they don’t set TRON apart like its broader business model does.
Sun made a splash in 2018 with his acquisition of BitTorrent, which advances TRON’s long-term goal of becoming a peer-to-peer hub for content providers and consumers. TRON got another boost just recently, when Sun purchased a controlling stake in Huobi Global, a once-booming exchange that had slipped after China outlawed cryptocurrency trading. Those two moves alone put TRON at the center of a potentially resonant family of crypto and P2P services and support considerably greater valuation moving forward.
For all its strengths, TRON isn’t perfect. Its algorithmic stablecoin once lost its peg for more than a month, the real market value of its designation as Dominica’s official fan token has yet to be tested, and like many top cryptocurrencies it has earned the attention of the SEC from time to time. But its unique positioning alongside BitTorrent and Huobi Global, along with its maverick founder’s record of success, make TRX a strong value at current levels.
3) Cardano (ADA)
Ethereum’s Merge wasn’t the only significant fork this September. Cardano entered its hard fork, Vasil, as number eight on the list of top cryptocurrencies by market cap. Like Ethereum, Cardano had sound technical and strategic reasons for significantly updating its blockchain—in its case, greater throughput and increased efficiency that allowed Cardano to dramatically lower transaction costs. Unlike ETH, ADA saw a sharp rise in value following its big event; it struggled to maintain that momentum, though, and has dawdled below $0.50 since Vasil made its debut.
Those aren’t the only things linking Cardano and Ethereum—they also share a founder, Charles Hoskinson, and a developer-centric ethos. To a significant degree, Cardano is competing for the space that Ethereum currently dominates. That’s a tall order, but Cardano’s recent performance is why we believe that it is undervalued and worth serious consideration, especially for investors looking for long-term growth potential.
In its first few years following its 2017 debut, Cardano struggled to attract significant development activity, and ADA’s price suffered as a result. The past 15 months have seen a remarkable turnaround for Cardano. Both developer activity on the platform and the price of ADA shot up after last September’s Alonzo hard fork introduced support for smart contracts to the Cardano platform, and the blockchain remained popular. Cardano now hosts more active developers than Ethereum, and could narrow the gap considerably in the years to come. With Vasil’s upgrade completed and Ethereum facing the possibility of liquidity issues in the near future, the time may be fast approaching for a serious challenge to the crypto market’s longstanding second fiddle.
XRP started the year just under $1.00 and followed the market downward. In retrospect, that might have been an odd little indicator of its strength: XRP has retained more of its value than Bitcoin or Ethereum despite an ongoing legal battle between Ripple and the SEC that is approaching its second year.
Under different circumstances, the threat of an adverse ruling might be enough to keep investors away from a token until the legal air cleared. But Ripple’s case involves uncharted territory—the question of whether XRP should be treated as a security—and until recently, all bets were off. Ripple has scored a number of procedural victories in recent weeks, giving observers reason to believe that it will prevail.
If Ripple does win the case, XRP could be off to the races. Just 18 months ago, it traded near $2.00, and its signs of strength during the crypto winter could launch it beyond even that figure if its legal troubles evaporate. Even if it loses the case and ends up paying a fine, it’s not all gloom and doom for XRP. Other major cryptocurrencies have shed more value while facing only the headwinds of a bear market. XRP has struggled against both the market’s malaise and a major court case, and analysts believe that a good deal of downside risk from the lawsuit is already baked into its price. In other words, XRP could benefit either way: by rebounding off of good news in the courts, or merely by shedding itself of a huge source of uncertainty once the case is decided.
Whatever the case’s outcome, Ripple remains a compelling solution for cross-border financial transactions, giving it a set of use cases that could easily support a price well north of $1.00 in the near future.
5) Hedera (HBAR)
Hedera claims to have built a better mousetrap. Will the world beat a path to its door? The innovative platform eschews blockchain technology altogether for a new kind of distributed ledger technology: a “third generation public ledger” as Hedera’s marketing puts it, based on hashgraph consensus. This novel approach allows Hedera to deliver much greater throughput at much higher speeds than blockchain-based platforms, with a vanishingly small fraction of the energy consumption incurred by either Bitcoin or Ethereum.
Even more impressive is that Hedera’s architecture is based partly on co-founder Leemon Baird’s research on the theoretical limits of security and speed. As impressive as this sounds on a conceptual level, it also has serious implications for investors. Other similar technologies will arise alongside Hedera, but the platform has the advantage both of a massive head start and of performance advantages that cannot be exceeded to any meaningful extent. Little wonder that Hedera, whose platform and network code are open source, is officially owned and governed by a consortium of heavy hitters including Google, IBM, Deutsche Telekom, and LG.
There is of course a catch. After years of planning and small-scale deployment, Hedera is open for business. The remaining question is whether developers will be attracted in sufficient numbers, and develop sufficiently effective and popular services, to create the kind of traffic necessary to pull HBAR’s out of the doldrums it’s shared with plenty of company since mid-June. Analysts tend to agree that it will, and that it represents an excellent opportunity for patient long-term investors.
6) Cronos (CRO)
CRO is the native token of Crypto.com, a long-established cryptocurrency exchange and one of the first to make cryptocurrency an easily used method of payment in the real world through its branded card partnership with Visa. That alone gives it a solid set of use cases and a firm base of price support. Like many major cryptocurrencies, CRO has touched that floor repeatedly throughout 2022, but there are reasons to believe that it could leap ahead more quickly than its competitors when the crypto winter begins to thaw.
For one thing, Crypto.com might just have the most aggressive marketing and advertising strategy in the cryptocurrency sphere, at least when it comes to traditional marketing vehicles. Its star-studded advertising campaign, which included a much-discussed Super Bowl ad, is part of a $100 million global marketing initiative. The second half of Q4 2022 will showcase Crypto.com’s sponsorship of the FIFA World Cup, the world’s most-watched sporting event.
At the same time, Crypto.com has diversified its value proposition by attracting more developers to its platform than in previous years. CRO may not be an Ethereum killer, but it does offer a faster, more efficient alternative that remains compatible with Ethereum (and Cosmos, for that matter).
Meanwhile, CRO continues to offer the sorts of perks that come from owning a cryptocurrency exchange’s native token, including interest payments, discounts on trading fees, and a greater variety of trading options. Crypto.com itself may not be nearly as large as Binance, but CRO trades at a fraction of a percent the cost of BNB, with similar characteristics and considerably more medium-term upside.
7) Polygon (MATIC)
Ethereum’s popularity is in some ways its biggest hindrance. The same qualities that make the platform such a hotbed for developers can inhibit speed, scalability, and efficiency. That’s the opportunity Polygon hopes to seize. The Layer 2 scaling pioneer has attracted a strong and growing cadre of developers since its January 2021 rebranding—MATIC hearkens back to the platform’s 2017 founding as the Matic Network—which has helped it control the bleeding during 2022. MATIC retained roughly 25% more of its value during the crypto winter than ETH and BTC. But what about its future prospects?
Its reputation as a developer-centered Ethereum alternative has earned Polygon a reputation for innovative Web3 development, and Web3 development platform Alchemy reports an 804% year-over-year increase in the number of active development teams on Polygon as of Q3 2022. Increased activity is one thing; translating that activity into value is another, and there is significant reason to believe that Polygon has turned that corner. Earlier this year, Stripe chose Polygon for its global crypto payment system, and Instagram made a huge splash by launching its NFT service on the platform, continuing a trend that began with Prada and Adidas.
Those positive factors appear to be adding up, as MATIC begins to buck the market and add value into the end of October. After starting the year above $2.50, MATIC has begun to consistently threaten the $1.00 mark again. When it breaks through, it will be on the strength of a much wider range of use cases and a much firmer value proposition that it knew a year ago.
8) Dogecoin (DOGE)
Memecoins might not seem to take themselves too seriously, but behind the flippancy lies a serious satire of cybercurrency that speaks to its fundamental basis of valuation: cybercurrency is valuable because people agree that it is. If a given token’s community is spirited and engaged enough, it will retain and grow its value. Memecoins just happen to thrive on spirited community engagement, and Dogecoin is the one that started it all.
Dogecoin started as a joke, and its most common use case is still limited to tipping—for some time, its only common use was to tip community members for making amusing comments. But it has caught on in some quarters as a medium of exchange. Gucci and of course Tesla now accept DOGE, and startups have begun to accept Dogecoin as a means of payment. Those factors make DOGE a fine coin to own, but how does it stack up as an investment?
Pretty well, as it happens, in the right context. DOGE is fantastically volatile, so it plays a very specific role in a diversified crypto portfolio. It is also highly inflationary: five billion DOGE are minted each year, and the long-term supply is theoretically infinite. Its supply puts a cap of sorts on the extent to which Dogecoin’s value rises in response to increased demand. This leaves DOGE vulnerable to pump and dump tactics—most famously its meteoric rise at the end of Q1 2021—but difficult to squeeze. While DOGE’s price has softened throughout 2022, it appears to have plateaued at a much higher level than it enjoyed previous to March 2021. Investors who can stomach that sort of ambiguity could find a resilient floor and the prospect of another spike in value from Dogecoin in the medium-to-long run.
Learn more about BudBlockz (BLUNT) at the links below:
Official Website: https://budblockz.io/
Presale Registration:: https://app.budblockz.io/sign-up
BudBlockz Community Links: https://linktr.ee/budblockz
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