Best crypto to buy as the fear and greed index turns green

October 24, 2023 05:10 AM PDT | By Invezz

Best crypto to buy as the fear and greed index turns green — Image source: Invezz

Chainlink

I believe in buying cryptocurrencies that have a proven utility. And in this case, Chainlink (LINK) has one of the biggest utilities in the industry. The network, which counts Eric Schmidt as a board member, is the biggest oracle in the industry.

Its oracles provides a way for developers to connect off-chain data to the on-chain. It powers some of the biggest players in DeFi like Uniswap and Aave. Most importantly, Chainlink has a pole position in the tokenisation industry, which is seeing robust growth. In this regard, other similar coins to buy are Quant and AllianceBlock’s Nexera.

BlackRock's CEO Larry Fink said Chainlink is coming after the financial system. When people aren't distracted by the propaganda of a Bitcoin ETF solving the Institutional Investor and Venture Capitalist problem. #Chainlink will eclipse Bitcoin. pic.twitter.com/v1PXkSH7RJ

— Junko Suzuki (@Junko__Suzuki) October 22, 2023

Uniswap

Uniswap (UNI) is the biggest player in the decentralised exchanges (DEX) industry. The company runs a platform where people can buy and sell cryptocurrencies without passing through centralised gatekeepers like Binance and Coinbase.

Uniswap and other exchanges do well when the crypto industry is booming. This explains why the Coinbase stock price has jumped bounced back this year. Therefore, there is a likelihood that UNI token will do well in this crypto bull run.

Tron

Justin Sun’s Tron (TRX) has been in a major bull run even as the crypto winter started. It jumped to a high of $0.094 on Tuesday, the highest point since December 2021. The coin was a major survivor of the crypto winter.

One of the reasons for the rally was that JustLend, a key part of its ecosystem, grew to become the fourth-biggest player in the DeFi industry. It has over $5.34 billion in total value locked (TVL). Tron also maintained over 1 million active users.

Therefore, since Tron did well during the crypto bear market, there is a likelihood that the coin will do well in the long term.

Bitcoin Cash, Bitcoin SV, and Stacks

The other three crypto to buy in the new bull run are Bitcoin Cash (BCH), Bitcoin SV, and Stacks (STX). These coins are important because of their close relationship with Bitcoin. BCH and BSV are BTC folks, meaning that they have a similar technology with BTC.

Stacks, on the other hand, is a platform that provides smart contracts for Bitcoin’s ecosystem. It thrives when Bitcoin is doing well, as I wrote recently.

Some of the other cryptocurrencies to buy in the ongoing crypto bull run are Cardano, Internet Computer, Hedera Hashgraph, and Injective.

The post Best crypto to buy as the fear and greed index turns green appeared first on Invezz

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