In today's video, we're going to show you 6 Altcoins to buy right now to survive a bear market. We'll give you the reasons why these projects are strong, and we'll share important updates on projects like Hex, Solana, and Cardano.
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The first crypto to survive this bear market is Hex.
Hex has certainly been on a steep decline lately, but some great things are happening on Hex right now.
The first is that if you go to Hex Whalebot's profile on Twitter, you'll see that he recently shared the public address of a whale who bet 10,000,000 Hex, which is about $300,000 at the time of this recording. That's absolutely insane. And the reason we're so confident about Hex is that when someone bets that much money, it means they have enough confidence in the project, and that they're sure this project isn't going to fail in the next few months.
Another good thing is that at the moment, the Hex crypto is bet by more than 487,000 people according to hex.com, and offers an annual income of 38%.
In addition, founder Richard Hear is building PulseChain, which will be a fork of Ethereum, so you will have a free copy of your hexes on the PulseChain network.
So, by buying hexes now, and staking them, you will be able to have a copy on PulseChain when it launches.
Another factor to consider is that people who own hexes do not want to sell them easily. The reason is that since Hex is currently on the Ethereum network if you want to destock your hexes, you will spend hundreds of dollars in gas fees.
Also, there is a massive community on Hex. Richard Heart is a great marketer, and a lot is coming up on Hex. And for these reasons, Hex is stronger than ever, and it is one of the cryptos that will survive this bear market.
#2: Binance Coin (BNB)
The second crypto that we believe will survive the bear market is Binance Coin.
Maintaining the focus on relativity, the Binance coin (BNB) is a token that has fallen markedly less than other major cryptocurrencies. It's down by 3% in the past month, and by 70% since an all-time high of $686, set back in May 2021.
What supports BNB's price is the fact that, as a utility token granting Binance users discounts on trades, it remains in use even during a bear market. In other words, there remains a certain basic level of demand for it, while its attachment to the world's largest exchange also means that investors may have more faith in it than other general cryptocurrencies.
Binance is admittedly the subject of an investigation by the SEC right now, but a similar story applies to many other exchange tokens like LEO Token, FTX, and KuCoin.
#3: Cardano (ADA)
The number tree cryptocurrency on this list is Cardano, which has been struggling to break out and support its price against other currencies in the cryptocurrency market. It might be one of those coins that will go down with the bear trend if it continues. Moreover, the coin failed to sustain the cryptocurrency market in 2017. The data shows that in 2017, Q1, and Q2 Cardano lost about 15% of its price against bitcoin. Cardano's market cap went down to about $1.6 billion in early 2018 but since then, there has been a significant increase in its market cap, making it one of the most valuable cryptocurrencies in the world today.
On January 12th, 2018, Cardano had an all-time high at $1. 32. It dropped to $0.38 on February 1st, 2018. In February, the price of Cardano fell even further to $0.25 before it started a steady climb back up to its all-time high of about $1.06 in March 2018.
Since March 2018, the price of Cardano has dropped over 80% from its all-time high and has gone down to less than 50 cents after that.
Then, once the bear market ended, Cardano exploded and even hit another all-time high of $3 in September 2021, before starting to fall in the current bear market.
According to analysis, that's pretty much what's happening now. So, Cardano is one of the cryptos that will survive this bear market, as it has seen worse.
Then, we have Apecoin.
The crypto-currency Apecoin, which has a market capitalization of about $1.12 billion at the time of this recording, is among the cryptocurrencies that will survive this bear market.
Apecoin reached an all-time high of nearly $27, which is a significant increase from its initial price of $7.
However, since then, its price has seen a significant decline and it is now valued at around $4 at the time of this recording.
Apecoin has many advantages for people who want to buy it. It has a large user base or its developers are trying to market it to give them value.
On top of that, there have been some significant developments for this crypto-currency recently, which could make it a relevant crypto-currency in the markets of 2022.
If you are considering investing in a cryptocurrency in the current bear market, you should also consider other important elements such as the overall demand for the coin, its user base, its development status, and the marketing efforts of the developers.
And believe it or not, Apecoin has all these elements. Moreover, at the time of this recording, the coin has already gained more than 15% of its value in the last 24 hours. This means that Apecoin is immune to this bear market.
These are just a few of the elements that can help a crypto-currency survive the mass bearish trend we are experiencing today.
#5: Polygon (MATIC)
The next crypto is Polygon (MATIC).
Polygon is an Ethereum sidechain that is scaling DeFi at a rapid rate. Ethereum's high gas fees have highlighted the network's struggle to upgrade to Eth2. Ethereum co-founder, Vitalik Buterin, has expressed his support for Layer 2 scaling solutions, which handle transactions on a side chain before submitting a batch of transactions to Ethereum's layer 1 blockchain. As a result, users pay significantly fewer transaction fees and can settle transactions in just a few seconds.
Layer 2 sidechains play a critical role in scaling Ethereum, and Polygon is one of the 1st to do it. Assets must be bridged to the sidechain, so some switching costs will lead to people staying on Polygon for the long term. And for that reason, this crypto, in our opinion, will survive the bear market.
#6: Solana (SOL)
The last crypto on our list that we believe will survive this bear market is Solana.
One of Ethereum's top competitors, Solana, has seen exponential gains in 2021. From lows around $1 leading into 2021, Solana is now trading over $100. There are billions of dollars in cryptocurrency locked on its blockchain, making Solana one of the largest blockchains for decentralized finance. Many investors are using Solana's blockchain for both NFTs and DeFi.
The main benefit of Solana over other smart contract blockchains is its focus on scalability. Solana uses a proof of stake consensus model alongside proof of history to process thousands of transactions per second. Plus, transaction fees on Solana are about 99% less expensive than Ethereum's, making it a great option for retail traders that don't have the capital to pay 3-figure gas fees on Ethereum.
Right now, there is no serious competitor for Solana. So logically, people will continue to use it over and over again, making it a solid project for this bear market.
We hope we were able to provide some value and helped you to move a step ahead in your crypto journey Be sure to check out our Crypto Brand called Cryptopreneur, get yourself the highest quality Crypto Merch available right now on the market, and make sure to subscribe so that you don't miss out on any of our content. Till next time, Goodbye.