Best Coins to Buy in this Dip – Helium (HNT), Terra Luna Classic (LUNC), GMX, QNT
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Downturns present opportunities for value-seeking investors to rebalance their portfolios and focus on growth. This article reviews the best coins to buy in this dip.
1.) Helium (HNT)
HNT ranks number 1 on our list of best coins to buy in this dip. The asset is the native token for Helium – a blockchain-based network for internet of things (IoT) devices that uses nodes as hotspots to connect wireless devices.
The HNT token powers the entire Helium network, serving as a payment and incentive option whenever a hotspot transfers connection data across the Helium network itself.
HNT currently trades at $5.34. The asset’s price has increased by 0.71% in the past 24 hours.
Investors are especially excited about Helium following the platform’s move to the Solana blockchain. The move, announced late last month, means that Helium’s governance and tokens will relocate to the Solana blockchain.
As the developers have explained, the move will allow them to make more HNT available to subDAO reward pools. It will also help to integrate more consistent mining and a more reliable data transfer module.
2.) Terra Luna Classic (LUNC)
LUNC used to be the main token for the Terra stablecoin ecosystem. However, following Terra’s crash in April, LUNC’s value plummeted by 99%. This crash led to the ecosystem moving away from LUNC with a new cryptocurrency and a new blockchain fork.
Nevertheless, many of Terra’s original users have remained committed to LUNC and are banding together to get the asset back on track. Today, the coin trades at $0.0002962, an increase of 0.55% in the past 24 hours.
LUNC might have lost most of its value this year, but the asset still has a lot going for it. Firstly, its community remains strong, with many original Terra investors still holding on to the belief that it could surge again.
8-The burn mechanism on #Binance will burn all $LUNC trading fees, both Spot & Marging trading. Think of it like this, #Binance makes up for around 55% of $LUNC's trading volume. If #Binance can implement the burn mechanism, so can the others #CEXs.— Sjuul | AltCryptoGems (@AltCryptoGems) October 5, 2022
The asset’s circulating supply of over 6 billion was one of the major reasons for its crash, and the LUNC community has now instituted token burns as a solution. Binance, the world’s largest exchange, supported the token burn last month. So far, 1.8 million tokens have been burned.
First LUNC burn, $1.8 million ish.— CZ 🔶 Binance (@cz_binance) October 3, 2022
With other exchanges like MEXC and KuCoin also supporting this burning mechanism, the future of LUNC’s deflationary model looks bright.
3.) GMX (GMX)
GMX is a decentralized spot and perpetual crypto trading exchange that allows users to benefit from zero price impact trades and low swap fees through market making and leverage trading. The platform uses Chainlink oracles to find dynamic pricing information through different crypto exchanges, and it currently operates via the Avalanche and Arbitrum Layer 2 chains.
The exchange’s native GMX token currently trades at $45.83, marking a downtrend of 9.08% in the past 24 hours.
GXM is currently finding its footing in the market. However, the asset undoubtedly has a bright future. It got listed on Binance and FTX earlier this week, a move that sparked a significant 35% rally between Tuesday and Wednesday.https://www.twitter.com/GMX_IO/status/1577605355328212994
4.) Quant (QNT)
QNT is the utility token for Quant, a blockchain that makes it easier and more effective for users to share information. The Quant protocol was created to remove barriers encountered by blockchains in information sharing and dissemination. It has different layers for specific tasks, including transactions, messaging, and ordering.
QNT, the network’s native token, currently trades at $138.41. The asset is on a bull run marked by a 2.93% price increase in the past 24 hours.
Quant has resolved to expand interoperability between blockchains. Last month, the network released Overledger 2.0.5 – a payment API that would bridge multiple ecosystems together for payment settlement.
Overledger 2.0.5 released to bridge ecosystems with Stablecoins, DeFi, NFTs & popular ERC20/ERC721 digital assets for clearing & settlement.— Quant (@quant_network) September 7, 2021
The new Payment API settles between different digital asset types with a few lines of code.
More: https://t.co/Qte4ot49yJ #NFT pic.twitter.com/R7NybtFZIS
Interoperability and effective communication are two areas blockchains need to improve if they hope to reach their full potential. Quant is one of the few platforms making progress toward hacking this.
Conclusion on the Best Coins to Buy in this Dip
While the crypto winter continues, opportunities abound for investors to take advantage of crypto gems in the market. Our roundup has considered some of the best coins to buy in this dip.
Another asset investors can consider is the IMPT token, a crypto protocol focused on using the blockchain to reduce the world’s carbon footprint. Investors can buy IMPT tokens on presale now.