The SEC lawsuit filed against Binance in recent days has triggered a crash and crisis in the crypto market. Extremely many cryptocurrencies had to accept heavy losses. Which cryptocurrencies are suitable for investment now to minimize risk? Crypto expert Rudy Fares chooses three cryptocurrencies accordingly.
How have cryptocurrencies moved in the last few days?
cryptocoin.com As you’ve followed, cryptocurrency prices have fallen sharply in the past few days. Only the leading cryptocurrency Bitcoin has dropped a little more than 5%. Leading altcoin Ethereum, on the other hand, has experienced an 8% drop over the past few days. However, altcoins such as Cardano, Solana, and Polygon have occasionally crashed by over 30%.
Total Crypto Market Cap / Source: CoinMarketCapWhich cryptos make sense to buy during the crash?
Currently, most investors do not want to take big risks. There are still coins you can invest with less risk
First place is Bitcoin (BTC)
Bitcoin is the cryptocurrency you’ll want to bet on if you want to play it safe. The last few days have also shown how stable Bitcoin is, despite its price falling. Among the major cryptocurrencies, Bitcoin (besides stablecoins) was the one that lost the least value.
If you don’t want Bitcoin, get Litecoin (LTC)!
The SEC has treated a significant portion of altcoins as securities. Many of these altcoins have suffered huge losses. However, this did not include Litecoin. While this may have lost significantly more value than Bitcoin, it could be significantly more stable than other altcoins. Because Litecoin is very similar to Bitcoin in terms of its structure. Many analysts also see Litecoin as a commodity from a regulatory perspective. Therefore, Litecoin will face far fewer results in the future compared to “typical” altcoins like Cardano or Solana.
Leading atcoin Ethereum (ETH) is also on the list
As the second largest cryptocurrency, you can also invest in ETH tokens if you want security. In times of crisis, cryptocurrencies with the highest market capitalization often benefit. Moreover, the SEC does not seem to be taking action against Ethereum at the moment. But among the “safe” cryptocurrencies, Ethereum may also be at risk. Because it is possible that the SEC is preparing a case against Ethereum in the background. This is because the authority also considers the Ether token as a security. You need to consider this when investing.
The opinions and recommendations in the article belong to the experts and are not investment advice. We recommend that you do your own research before investing.
