The recent collapse of FTX has led to price declines for almost every cryptocurrency. Although the event was catastrophic and caused significant damage to many portfolios, we should try to remember the silver lining. There are currently many top crypto projects for sale for investors. With that in mind, here are the top 5 best cryptos to buy now before prices recover from the FTX collapse:
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Metacade (MCADE)
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Solana (SUN)
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Polygon (MATIC)
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United Nations (UN)
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GMX (GMX)
The best cryptocurrency to buy since the FTX collapse is Metacade. The platform aims to become the largest arcade on the blockchain, offering a range of services to a large community of players. With Metacade’s advanced earning mechanisms and collection of arcade games, the platform has the potential to become a central hub for all GameFi enthusiasts.
Metacade will support both casual and competitive gameplay. There are a number of classic arcade games in development as well as brand new blockchain games being developed exclusively for use on the platform. Players can experience endless variety as they play through multiple titles while earning MCADE tokens.
Metacade’s earning mechanisms are also extremely advanced. Players can earn MCADE tokens for creating content on the platform, completing tasks, staking cryptocurrency, and interacting with other users.
Users can decide which new blockchain games are developed on the platform and can provide early funding to game developers through the Metagrant program. The project aims to become, over time, a decentralized autonomous organization (DAO) fully governed by its community.
Why buy MCADE?
The MCADE token recently announced the start of its presale event. In the first three weeks since the start of the pre-sale beta phase, all 140,000,000 MCADE tokens have sold out. The project has raised over $1 million in total and is just getting started with over $2.1 million raised to date.
The project could compete with major GameFi platforms like Decentraland and Axie Infinity over time due to its unique features. Right now, the price of MCADE is only $0.01 and has the potential to increase 50x in the coming years. Because of this, Metacade is currently the number one best crypto to buy right now.
>>> You can participate in MCADE pre-sale here <
2. Solana (SUN)
The second best cryptocurrency to buy right now is Solana – a Layer 1 blockchain network that can support the development of decentralized applications (dApps). The blockchain uses a unique consensus mechanism that combines Proof-of-Stake (PoS) with Proof-of-History (PoH) to achieve fast block finality.
Solana processes crypto transactions at high speed and low cost, which can help improve the user experience for independent dApps. The network aims to support Web3’s growth by creating a scalable blockchain solution as developers can build applications that serve millions of users on the Solana network without significant latency or a significant performance hit.
The Solana ecosystem is home to many different blockchain applications and a thriving digital art scene using Solana-based non-fungible tokens (NFTs). Applications include DeFi products such as decentralized exchanges (DEXs) and GameFi platforms.
Why buy SOL?
SOL lost over 70% in value after FTX collapsed in November. This is because Sam Bankman-Fried’s two companies – FTX and Alameda – were key supporters of the Solana ecosystem. After FTX and Alameda filed for bankruptcy, investors exited their SOL positions after a widespread loss of confidence.
However, Solana is expected to recover from his recent distress. The current price of $15.68 is an understatement for the utility to be found in the Solana ecosystem, and over time the token is expected to reclaim its previous all-time high of $250. With this in mind, SOL is one of the best cryptos to buy since the FTX controversy.
3. Polygon (MATIC)
Polygon is a Layer 2 scaling solution for Ethereum. The network could help improve the overall user experience for dApps within the Ethereum ecosystem, giving it tremendous value and making it one of the best cryptos to buy at current prices.
The Polygon network processes transactions at high speed and at low cost. It is well suited to support blockchain-based games, as these applications typically require large numbers of user transactions during gameplay. Polygon has now become one of the most popular targets for developers creating GameFI platforms.
Polygon can turn Ethereum into a multi-chain ecosystem as it allows developers to create their own sidechains compatible with Ethereum Virtual Machine (EVM). More and more blockchains are becoming interoperable, and Polygon is expected to become a major player in the internet of blockchains (IoB) due to its ability to support large numbers of users.
MATIC is the native token for the Polygon network. It is used to pay transaction fees and provide rewards to validation nodes. Anyone can become a validator in the Polygon ecosystem, as the process doesn’t require expensive hardware – it just requires validators to stake tokens to keep the network secure.
Why buy MATIC?
Ethereum is the largest ecosystem of dApps found on any blockchain, and it has historically suffered from scalability issues, which Polygon’s Layer 2 solution solves. As a result, Polygon Web3 can help achieve global adoption by enabling thousands of dApps to support many more users.
The MATIC token is currently priced below $1, but it is not expected to remain at this price level for long. MATIC seems to be a high potential investment opportunity since the FTX controversy, making it the third best cryptocurrency to buy right now.
4. United Nations (UN)
OKB, the native token for the centralized exchange OKX (CEX), is the fourth best crypto to buy right now. The platform has partnered with some big companies, including Manchester City FC, which can help the exchange get involved in mainstream markets.
CEXs are a key entry point for new blockchain users as they offer a range of useful trading services in a single location. OKX is an intuitive platform that offers spot trading, futures trading, borrowing and lending. After the collapse of FTX, the title of the second largest CEX is at stake and OKEX could grow to this level over time, making it one of the best cryptos to buy right now.
OKB is the native token for the OKX ecosystem, which offers a number of benefits to its holders. It is used for transaction fees on the exchange and holders can get reduced fees for holding the tokens at certain thresholds. It can also be used to generate passive income and vote on OKX in governance proposals.
Why buy OKB?
OKB could increase in value significantly as more users join the CEX over time. Despite the recent controversy surrounding the collapse of FTX, blockchain technology is expected to continue on its way to global adoption in the years to come. OKX could play an important role in this development.
OKB currently costs $27.33 per token. Over time, it has the potential to compete with BNB as a top CEX token and break resistance levels above $100. Because of this, OKB is currently one of the best cryptos to buy.
5. GMX (GMX)
The fifth best cryptocurrency to buy right now is GMX – a decentralized exchange (DEX). It offers much of the same functionality as a CEX, with the exception that users keep their digital assets safe and do not have to provide Know-Your-Customer (KYC) verification.
GMX allows traders to buy cryptocurrency on spot markets and trade with leverage on a selection of major tokens. The smart contracts used by GMX are fully secure and the platform uses liquidity pools to ensure users can withdraw their funds at any time. In comparison, major centralized DeFi platforms halted payouts during the 2022 bear market, including FTX and Celsius Network.
Trading relies on the GMX token to provide rewards for liquidity providers (LPs). LPs ensure that the balancing pools can support trading activity on the GMX platform and are therefore rewarded when a trader buys cryptocurrency on the spot market, makes a futures trade or when liquidity pools are rebalanced.
As more blockchain users choose to self-custody after the FTX capitulation, GMX could become a popular destination for trading services on the blockchain. Offering an intuitive interface and advanced trading tools, it represents a reliable alternative to CEXs, making it one of the best cryptos to buy right now.
Why buy GMX?
GMX is the best performing cryptocurrency in 2022 – in stark contrast to its CEX competitor FTX. The token has more than doubled since January, while most other cryptocurrencies have lost over 75% in value due to the ongoing bear market.
GMX has deflationary tokenomics and a total supply of less than 9,000,000. The scarcity of the GMX token means it could become extremely valuable over time. It could make some big gains from its current $ price level[x]making it one of the best cryptos to buy right now.
Metacade is the best crypto to buy right now, as the MCADE token presale is a rare opportunity to get early-stage exposure to a high-potential crypto project. Prices will probably never be this low again before MCADE skyrockets and becomes one of the biggest GameFi platforms on Web3.
The price of MCADE increases from $0.008 to $0.02 during the pre-sale and investors have a limited time to participate. Each pre-sale period is expected to be completely sold out, so investors will need to be quick if they want to add MCADE to their portfolio during the post-FTX price level.
You can participate in the MCADE pre-sale here.
Disclaimer: Insights provided by crypto industry players and not part of BanklessTimes editorial content.
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