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Blockchain technology and the cryptocurrencies that power blockchain are often viewed by investors as innovative long-term bets on growth. Up until late last year, bullish bets on this sector paid well. This year, however, high-flying tokens have, in many cases, become fire-sale cryptos that nobody wants to touch.
The saying “buy low and sell high” sounds great. However, it is more difficult to implement in practice than in theory. When everyone is selling, it’s easy to run to the exits.
Those looking to pick up some cryptos that appear to be on sale should check out these three lesser-known tokens now.
Top Fire Sale Cryptos to Buy: VeChain
VeChain (CRYPTO:VET) was one of the big winners in last year’s rally in crypto markets. This project’s unique focus on integrating blockchain technology with supply chain tracking has generated tremendous interest – and for good reason.
Via QR codes, VeChain enables shippers to store their package tracking information on the blockchain. Remember that at its core, blockchain technology is a digital ledger. This move makes sense and provides a real-world use case where VeChain creates meaningful value for end users.
However, during the recent market downturn, VET (VeChain’s native token) has fallen sharply. This crypto, which is trading at just $0.03 per token at the time of writing, is now down about 85% from its 52-week high.
For those who are thinking long-term about the projects that will add real value to this sector, it is worth keeping VeChain on your radar right now.
Basic attention sign
Basic attention sign (CRYPTO:BAT) is a utility token which is also based on the idea of creating value for end users. In the case of Basic Attention, the goal is to provide both digital marketers and consumers with valuable information while browsing the web.
Basic Attention Token powers the Brave browser, which looks and feels very similar to 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), while marketers can track their return on investment more efficiently based on how many people view their ads. This model is intriguing to many investors and appears to be posting impressive growth despite the market downturn.
However, like most tokens, BAT is down significantly. At $0.40 per token, Basic Attention Token is down about 80% from its 52-week high.
curve financing
Finally we have curve financing (CRYPTO:CRV), one of the world’s largest decentralized exchanges. In the world of decentralized exchanges, there have been many concerns related to liquidity issues among other major players recently. Curve has managed to sidestep most of the heat in many ways.
Curve’s unique liquidity pools and the potential to release an over-collateralized stablecoin are some of the main reasons long-term investors like this project.
However, this token has declined significantly from its peak in relation to these concerns. Currently, CRV tokens are available for around $1.35 per token at the time of writing. Compared to this token’s 52-week high of $6.74, investors can purchase Curve at an 80% discount.
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