It appears that the cryptocurrency market is in a bloodbath right now, with multiple projects trading in the negative. In just one day, the worldwide market capitalization has dropped by 4.1% to $2.28 trillion, with Bitcoin (BTC) now trading below $59,000.
With prices low, it could be a good time for investors to buy more assets and bring their average costs down. It could also be a good time for new investors to enter the crypto market.
With that said, let’s look at three assets you could buy during the dip.
Top 3 cryptocurrencies to buy during the dip
Solana:
Solana (SOL) had an incredible year in 2023. This year, the asset seems to be struggling to gain the same momentum. SOL’s price has fallen by over 9% in 24 hours and 18.4% over the previous month.
Also Read: Cryptocurrency: Top 3 Coins That Can Bring Generational Wealth
Financial giant VanEck recently applied for a SOL ETF. If the authorities approve the application, we may witness a significant price spike for the fifth-largest cryptocurrency. With prices low, it could prove to be a good entry point for new investors.
Toncoin:
Toncoin (TON) has displayed a stellar performance this year. The cryptocurrency hit an all-time high of $8.25 last month and has climbed into the top 10 projects by market cap.
Also Read: Top 3 Cryptocurrencies to Watch in July 2024
TON is part of the Telegram network which has millions of users worldwide. CoinCodex researchers predict that TON will breach the $20 mark later this month and will hit $25.85 on Aug. 1, 2024.
Shiba Inu:
Shiba Inu (SHIB) is down by 7.5% in the last 24 hours and 7.6% over the previous week.
SHIB is a very popular cryptocurrency with an incredibly loyal fanbase. This makes the asset glow with a lot of potential. The low prices offer new investors an incredible entry point to buy into the 14th largest cryptocurrency.
