The crypto markets have been painted red since Monday as Bitcoin experiences a sharp selloff. Indeed, BTC has plunged over 8%, dipping below $65,000 to find support.
While dips like these can be unsettling, here are five potential buying opportunities for investors seeking quality cryptos at a discount.
1. Sponge V2 (SPONGEV2)
As one of the hottest meme coins in early 2024, Sponge V2 (SPONGEV2) has managed to cultivate a dedicated following in the past few months.
The successor to the original SPONGE token has big plans – with the recent migration to Polygon helping reduce fees and pave the way for Play-to-Earn (P2E) integration.
This upcoming P2E game will feature racing mechanics inspired by the classic Mario Kart franchise, allowing players to earn more SPONGEV2 tokens.
Combined with SPONGEV2’s staking protocol, there will be plenty of ways for players to generate recurring tokenized income.
At a current price of $0.00246 per token, SPONGEV2 is down substantially from recent highs.
However, the token remains listed on numerous top exchanges and retains a passionate community – meaning the discounted value could make it an enticing buy.
2. Green Bitcoin (GBTC)
Another token that could offer upside potential during this market downturn is Green Bitcoin (GBTC).
This project is launching the world’s first “Gamified Green Staking” model using Ethereum’s Proof-of-Stake consensus mechanism.
Indeed, by using this mechanism, Green Bitcoin consumes minimal energy per transaction, making it an appealing option for eco-minded investors.
Users can also engage in Bitcoin price prediction challenges to earn GBTC bonuses in addition to the base staking rate of 92% per year.
With its presale now in full flow and 64% of the GBTC supply already staked, Green Bitcoin is showing strong early momentum.
Moreover, given that GBTC tokens are available for just $1.068, Green Bitcoin could be a hidden gem worth considering.
3. Dogecoin20 (DOGE20)
For those looking to capitalize on the hype around meme coins, Dogecoin20 (DOGE20) could be another token worth scooping up.
This Dogecoin-inspired project has dedicated 15% of its total 140 billion token supply purely to incentivizing stakers via passive rewards.
The numbers are enticing – early DOGE20 investors can earn APYs of 290% just for contributing to the ecosystem.
As such, investors receive the benefits of meme coin virality with recurring tokenized income. Subsequently, DOGE20’s ongoing presale has already raised over $2.8 million from investors who can get involved for just $0.0002 per token.
With a Uniswap listing on the horizon, the growth potential of DOGE20 is massive – making it another crypto that investors may wish to buy on the dip.
4. Ankr (ANKR)
As the infrastructure for Web3 continues being built out, Ankr (ANKR) has emerged as one of the most promising enablers in the space.
Specifically, this platform provides a decentralized network of nodes and tools aimed at making blockchain participation more accessible for developers and stakers.
Through its user-friendly offerings like node deployment, liquid staking pools, and cross-chain functionality, Ankr is helping promote the growth of numerous blockchains.
The ANKR token itself has real utility as a payment method, staking instrument, and governance tool in the Ankr ecosystem.
After the recent marketwide selloff, ANKR is currently trading at a discount of around $0.042 per token.
Furthermore, for investors who are bullish on Web3’s growth prospects, ANKR could represent an undervalued buying opportunity today.
5. Jupiter (JUP)
Concluding our list of the best cryptos to buy on the dip is Jupiter (JUP).
As a leading DEX aggregator on Solana, Jupiter sources the most optimal pricing across liquidity sources for token swaps.
However, its utility extends beyond just trades – the JUP token also allows holders to participate in governing the protocol’s future development.
With plans for perpetual futures markets and even a native Solana stablecoin, Jupiter is aiming to become an all-in-one DeFi ecosystem.
Currently, JUP is trading around $1.22, down over 15% in the past 24 hours. Therefore, for risk-tolerant investors who remain bullish on Solana’s DeFi space, acquiring JUP at these levels could be wise if the token can rebound.
