Major crypto assets are still a buy despite the recent cryptocurrency meltdown…
First, the algorithmic stablecoin TerraUSD and its digital token “luna” crumbled. This resulted in fears rippling across the cryptocurrency sector, as TerraUSD typically provided safe haven for those investing in the speculative crypto market.
Then, crypto exchanges Celsius & Voyager suspended customer withdraws leading to the collapse of crypto hedge fund Three Arrows Capital.
And finally, crypto giants BlockFi & FTX, fell as well after Sam Bankman-Fried gambled away billions of customer deposits.
In turn, the sector suffered major sell-offs, with various coins reporting a rapid loss in value over the past several weeks.
But just because these companies failed does not mean these 3 cryptos will. That's like saying the Internet will fail because a few “dot-com” companies went bankrupt during the tech bubble…
Here are 3 “Crypto Blue Chips” you can trust to hold for the long-term...
This may just be the tip of the iceberg for the crypto market. Recently, several cryptocurrency experts told CNBC that thousands of digital assets are likely to disappear in the years ahead.
Currently, there are over 22,500 cryptocurrencies circulating around. But with TerraUSD’s collapse, industry players say we’re nearing the sector’s own version of the “dot-com bubble.”
Bertrand Perez, CEO of the Web3 Foundation, told the news service that when the internet began, companies were popping up everywhere – many of which were scams.
This is what we’re seeing with the thousands of cryptocurrencies today, he added. However, much like the dot-com bubble, the cryptocurrencies that ultimately survive the inevitable purge will not only become very useful but also significantly more legitimate.
So, while present volatility is putting pressure on the entire sector, it could ultimately be seen as a buying opportunity for scooping up the most likely survivors.
This includes Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), as all three are wildly successful and popular in their respective niches.
Bitcoin
Even with thousands of competitors, Bitcoin is the original and most dominant cryptocurrency in the market. And given its monumental value – and continued adoption by institutional investors, it’s likely to retain its position regardless of which way the crypto market moves.
Ethereum
While you can buy Ethereum much like you would Bitcoin, it’s a decentralized software platform that many of the most prevalent cryptocurrencies are built on. This means it's a sought-after resource for developers looking to not only make cryptocurrencies but also create other blockchain-based applications.
Litecoin
Litecoin is one of the oldest digital assets behind Bitcoin. And it’s often considered the “silver” to Bitcoin’s “gold.” But its uses go beyond investment, as it is an open-source, decentralized global payment network that offers a fairly fast transaction confirmation time.
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When Ian King recommended Binance on May 4, 2020, he knew it'd soar higher… and sure enough, it went up 1,061%.
When he recommended Solana on December 17, 2020, he knew it'd soar higher… and sure enough, it went up 1,934%.
And when he recommended Terra on December 17, 2020, he knew it'd soar higher… and sure enough, it went up 18,325%.
Perhaps what's most amazing of all – these gains came within a year.
Here's why I'm telling you this …
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