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Crypto Crash: 2 Tokens to Consider Buying Amid the Carnage

·3 min read
Diagonal chain made of zeros and ones. Cryptocurrency and mining.
Diagonal chain made of zeros and ones. Cryptocurrency and mining.

Written by Chris MacDonald at The Motley Fool Canada

The recent collapse of parts of the cryptocurrency market has taken many investors by surprise. A year ago, many thought this space was one that had relatively unlimited upside. Today, sentiment has shifted in a big way, as this crypto crash weighs heavy on investors.

Whether we’re talking about the collapse of algorithmic stablecoin ecosystem Terra (CRYPTO:LUNA), or the recent perils seen at Celsius and other funds in the sector, there’s a lot of potentially systemic headwinds for investors to process.

However, in this lower-price environment, many long-term investors may be looking to dig through the rubble. Here are two top tokens I think could be worth a look during this crypto crash.

Worried about a crypto crash? Consider Ethereum

Everyone is turning their eyes to Ethereum (CRYPTO:ETH), as it eclipses other blockchains in the non-fungible token (NFT) space. Now, Ethereum is dubbed the leading blockchain by all-time sales volume.

As of May 31, this cryptocurrency has hit a total sales volume of $27.50 billion. It is the topmost blockchain when it comes to NFT transactions. That includes the selling, holding, and purchasing NFT collectibles.

NFT creators prefer this blockchain, because they see their digital collection selling higher on the platform in comparison to the others.

This recent uptick seen in Ethereum’s total sales volume comes as a breakthrough for this crypto, as its price action has been bearish. This crypto dipped below $1,800 just this past weekend, seeing this token’s market cap also drop below $125 million for the first time in a while.

Despite the market headwinds, many investors point to the robust ecosystem underpinning the Ethereum blockchain as a reason to own this token long term. For those with a long investing time horizon, this is a project that may be worth a look at these depressed levels.

Solana

Looking past Ethereum, let’s take a look at a top “Ethereum Killer” now.

Crypto experts informally refer to Solana (CRYPTO:SOL) as an “Ethereum Killer” because of its fast transactions. Compared to Ethereum, Solana can process orders of magnitudes more transactions at much lower prices.

Granted, Solana has seen some hiccups of late. Indeed, network outages and other problems have plagued this token. Accordingly, Solana has seen among the more vicious declines of top-20 tokens of late.

That said, there’s a lot to like about Solana’s underlying technology. The SOL token supports Solana’s permission-less platform, which hosts a range of DeFi applications. For those bullish on the future growth of DeFi, Solana remains a top pick among investors.

Over the long term, I think both Solana and Ethereum provide incredible growth. In this market, value is winning out over growth. That said, when the tide turns, these tokens may be winners investors don’t want to ignore.

The post Crypto Crash: 2 Tokens to Consider Buying Amid the Carnage appeared first on The Motley Fool Canada.

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Fool contributor Chris MacDonald has positions in Ethereum and Solana. The Motley Fool recommends Ethereum and Solana.

2022

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