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Top 5 Cryptos to BUY after the FTX Crash

Which altcoins are potentially worth investing now after the FTX crash? Let’s go over the top 5 cryptos to buy after the latest FTX crash.

The FTX crash was a major turning point in the crypto market. Due to the massive losses in recent weeks and the loss of confidence in the market, the end of the year should be viewed with pessimism. But a crash is always an opportunity for intelligent investors to invest cheaply and hope for strong price gains. Which altcoins are potentially worth investing now after the FTX crash? Let’s go over the top 5 cryptos to buy after the latest FTX crash.

How did Cryptos Perform recently?

At the end of October and beginning of November, it looked as if the cryptocurrency prices could rise more strongly again. The Bitcoin price temporarily rose above a value of 21,000 dollars. But as a result, the price increase could not continue. Then the crypto exchange FTX crashed.

The crash of the FTT token started an avalanche. Bitcoin price briefly fell below the $16,000 mark and lost more than 25% within a few days. Altcoins have mostly even lost more than 30%. In the last few days, however, prices have stabilized again. Nevertheless, the Bitcoin price is only 16,500 dollars.

Which altcoins could benefit in the future?

Such a crash usually hits the altcoins even harder than the Bitcoin course. While Altcoins usually rise more than Bitcoin when prices rise, the losses in the event of a crash are also higher. But overall, most altcoins have lost less percentage than Bitcoin over the past few weeks, as they have seen strong increases beforehand. 

Despite the crash, we can see certain altcoins continuing to move in a positive direction. Although they suffered losses as a result of the crash, they could continue their generally positive price development in the coming days and weeks. 

Top 5 Cryptos to BUY After the FTX Crash

In the following we would like to present 5 altcoins that could develop in a good direction after the crash:

1. Uniswap (UNI)

If there can be specific platforms that will benefit from a loss of trust in crypto exchanges, it’s decentralized exchanges (DEX). The largest DEX, Uniswap, has recently made headlines for being the #2 trading Ethereum in one day, overtaking Coinbase. In the last few days, Uniswap has also released 2 new smart contracts (Permit 2, Universal Router) that aim to make the platform more cost-efficient and secure.

2. Litecoin (LTC)

Bitcoin’s “little brother” is often forgotten when it comes to relevant altcoins. Crypto influencer Michael Saylor has now found words of praise about the LTC. He said on Twitter that Litecoin, like Bitcoin, could get status as a “digital commodity” from regulators. With this, Saylor gives Litecoin a status similar to that of Bitcoin. Both can be used similarly as decentralized goods. 

3. Cardano (ADA)

Cardano and its CEO Charles Hoskinson are currently planning a new blockchain called Midnight, which will focus on complete privacy. This would make Midnight a blockchain similar to Monero, which is often criticized but also appreciated by many. Hoskinson wants to give access to possible regulators in exceptional cases. Although this step is hotly debated, Cardano is one of the altcoins that have very interesting projects planned for the next few weeks.

4. BNB (BNB)

The Binance Coin or BNB has logically received a lot of attention in the last 2 weeks. In the short term, the BNB price could even rise during the FTX Token (FTT) implosion. Binance CEO Changpeng Zhao recently mentioned that the BNB is not a security. This openness was well received. Binance and the BNB should benefit from the FTX bankruptcy in the medium term. 

5. XRP (XRP)

Ripple’s XRP token remains in litigation with the SEC . However, if this argument goes in favor of Ripple, strong price gains are definitely possible for XRP. XRP might be one of the most undervalued altcoins right now. 

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Source: Altcoin

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Binance re-enters the Japanese market with purchase of SEBC exchange

Crypto exchange Binance has reentered the Japanese market after acquiring a 100% stake in Sakura Exchange BitCoin (SEBC), a regulated cryptocurrency exchange in Japan. KEY TAKEAWAYS SEBC is a Japan Financial Services Agency (JFSA) regulated entity. By acquiring SEBC, Binance aims to offer Japanese-regulated services through the exchange. At the time of the Binance acquisition, […]

The post Binance re-enters the Japanese market with purchase of SEBC exchange appeared first on CoinJournal.

Crypto exchange Binance has reentered the Japanese market after acquiring a 100% stake in Sakura Exchange BitCoin (SEBC), a regulated cryptocurrency exchange in Japan.

KEY TAKEAWAYS

  • SEBC is a Japan Financial Services Agency (JFSA) regulated entity.
  • By acquiring SEBC, Binance aims to offer Japanese-regulated services through the exchange.
  • At the time of the Binance acquisition, the Tokyo-based exchange supported 11 trading pairs; mainly cryptocurrency-Japanese Yuan pairs.

Despite the tense situation in the crypto market following the collapse of FTX which seems to be taking other crypto entities like BlockFi down with it, Binance seems to be spreading its wing further and further. The SEBC acquisition comes weeks after Binance pulled out of its planned FTX rescue plan citing issues with FTX’s financial book.

Expanding into Japan

In the past few years, Binance has been expanding its business across various countries as it stamps its authority within the crypto space. So far, the crypto exchange has secured regulatory approvals in France, Italy, Spain, Bahrain, Abu Dhabi, Dubai, New Zealand, Kazakhstan, Poland, Lithuania, and Cyprus.

The acquisition of Sakura Exchange BitCoin marks the exchange’s first entry into East Asia. Most importantly, SEBC is already a regulated entity which means Binance will be able to offer regulated services in Japan, which is a major economy in East Asia.

In a press release announcing the acquisition of the Japanese exchange, the general manager of Binance Japan, Takeshi Chino, said:

“The Japanese market will play a key role in the future of cryptocurrency adoption. As one of the world’s leading economies with a highly-developed tech ecosystem, it’s already poised for strong blockchain uptake. We will actively work with regulators to develop our combined exchange in a compliant way for local users. We are eager to help Japan take a leading role in crypto.” 

At the time of the acquisition, SEBC offered customer consultation services and crypto brokerage services supporting 11 crypto-Japanese Yuan trading pairs. The trading pairs include BTC/JPY, ETH/JPY, BCH/JPY, XRP/JPY, LTC/JPY, ETC/JPY, XEM/JPY, MONA/JPY, ADA/JPY, XYM/JPY, and COT/JPY.

The post Binance re-enters the Japanese market with purchase of SEBC exchange appeared first on CoinJournal.

Source: CoinJournal: Latest Bitcoin, Ethereum & Crypto News

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