If you’ve been considering venturing into the cryptocurrency universe this year, this could be the perfect opportunity to collect various coins at more attractive prices. If you are looking to buy cryptocurrencies today, there are three solid blockchain projects that deserve your attention.
This is a project that aims to scale Ethereum, and that is a big problem. The high demand for space on the blockchain has led to extremely high transactions, and these fees will be greatly reduced on the Polygon Layer 2 chain while preserving all security and decentralization.
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This is an astronomical leap that is sure to attract a lot of attention.
Should you buy Polygon MATIC / USD today?
On May 18, MATIC was valued at $ 2.45 and dropped to $ 2.08 on May 20. That’s a 17.8% decrease, and it can only go up from here. Ideally, you should buy MATIC due to the fact that it is one of the most unique Ethereum-based projects out there and that over time it will make changes and further increase in value.
However, we recommend buying MATIC below the $ 2.10 mark with an adjusted stop loss of around $ 2.00, as short-term volatility has yet to abate. If the $ 2.00 level doesn’t hold, you may want to sell and keep an eye out for a better re-entry point.
Uniswap is one of the largest decentralized cryptocurrency exchanges that is based on the Ethereum network, and even allows users to exchange Ethereum-based cryptocurrencies peer-to-peer. As such, it has managed to revolutionize the liquidity market with its concentrated liquidity provision.
Should you buy Uniswap UNI / USD today?
On May 3, UNI was worth $ 43.48 and has lost more than 35% to trade at around $ 27.77. Investors should consider buying at current levels given Uniswap’s long-term outlook. But similar to MATIC, prudent risk management strategies are required and if you see it drop below $ 25 then it is a sign to cut losses and hope for a better re-entry point down the road.
Cardano is a competitor to Ethereum and a contract-based smart blockchain that was created by one of Ethereum’s co-founders, Charles Hoskinson. This DeFi ecosystem is sure to power the chain when they present their proof-of-stake smart contracts throughout the year.
Should I buy Cardano ADA / USD today?
On May 16, ADA was valued at $ 2.30 and is now down to $ 1.85. This is a 19.6% decline and marks an excellent entry point for newcomers looking to invest. It’s slowly starting to rise, and if you manage to get it below $ 2.00 it could be a smart investment; However, you should avoid it if you see it dip below $ 1.50 as you could see even greater downside potential, perhaps even retesting the $ 1 level as was the case twice in late April.
Generally speaking, MATIC, ADA and UNI are smart investments, and each of them is benefiting from Thursday’s buying momentum.
If you are a true believer in the Ethereum blockchain, or just want to see some competition as in the case of Cardano, you are not alone, and many investors might agree with you and invest in these coins, so buy them during the seasoning.