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The crypto market has been on a downhill since late November. Billions of dollars have been taken off the market through liquidations, and most of the gains made when the last quarter of 2021 started have been wiped out. Moreover, volatility is high, and any attempt to gain has been followed by another dip.
Currently, the market is showing slight signs of recovery. For the first time this week, Bitcoin and Ethereum are trading in the green zone. Bitcoin is at $48,000 after dipping to $46,000 earlier in the week. Additionally, Ethereum has slightly gained from around $3750 to around $3900.
While the gains are not major, the slight uptrend has revived the market optimism, and now traders are looking for the coins to buy in the wake of a price recovery.
If the market continues to gain for the remainder of the week, below are the 7 crypto coins you can buy this weekend.
1. Solana (SOL)
At the top of the list, we have Solana (SOL). SOL was one of the hardest-hit tokens during the recent downtrend. Solana is known for not following the trend in the broader market. SOL has shown great resistance during the previous bear cycles by gaining while the rest of the market loses.
However, the recent bearish trend hit SOL hard, as it has coincided with a major blow to the Solana blockchain. On Thursday, Solana suffered a distributed denial-of-service (DDoS) attack. It caused a network outage, and while the validators were able to resolve the issue without shutting down the network, it raised concerns over the security of Solana.
Solana dipped to monthly lows of $151 in the recent bear cycle. Currently, SOL stands among the leading gainers during the recent price recovery, with a 5.4% price gain. The token is still 36% below its all-time high, but going by the previous trends, SOL can easily recover its losses. Therefore, it makes a considerable buy in the price recovery.
To learn more visit our Investing in Solana guide.
2. Avalanche (AVAX)
The other cryptocurrency to consider buying for a price recovery this weekend is AVAX. AVAX is also a leading gainer among the top 15 cryptocurrencies. Unlike the other coins gaining because of a market recovery, AVAX is gaining because of the growing technological strength of its blockchain.
Circle, the company behind USDC, announced that it would be integrating the stablecoin into the Avalanche blockchain. The move will help boost decentralized finance (DeFi) adoption on the network.
AVAX has made double-digit gains following this announcement, and it now ranks as the eleventh largest cryptocurrency by market capitalization.
The Avalanche blockchain has received much praise in recent weeks because of its low fees and high speeds. These attributes saw Three Arrows Capital migrating from Ethereum to Avalanche to escape the congestion and high gas fees on Ethereum.
The launch of USDC on Avalanche will make the network even more attractive to developers, which will drive DeFi adoption and aid in AVAX’s price recovery. Hence, AVAX makes a good buy for a price recovery this weekend.
To learn more visit our Investing in Avalanche guide.
3. Gala (GALA)
The other considerable buy this weekend is GALA. GALA has positioned itself as a metaverse coin, and given the rising popularity of the virtual world, metaverse coins are making for ideal assets to hold for a well-diversified portfolio.
Out of the many metaverse coins, GALA is a good buy for a price recovery this weekend because of the developments surrounding it. The first is that GALA’s addition on major crypto exchange platforms has boosted its trading volumes. In mid-November, GALA was listed on Coinbase, which was the beginning of notable gains.
Recently, Gala partnered with C2 Ventures to launch a $100M fund that will be used to create a “Galaverse” and support blockchain gaming. With the trend that the metaverse and blockchain gaming are taking, GALA is poised for notable gains in the future.
GALA is among the few coins that have retained their monthly gains despite the recent downtrend. GALA is still up 437% over the past 30 days. While it has dipped from its all-time highs of $0.82, it has held most of its gains, showing that traders have not rushed to sell despite the market recession.
To learn more visit our Investing in Gala Games guide.
4. Polkadot (DOT)
The other cryptocurrency that also makes for a good buy during the price recovery this weekend is Polkadot. Polkadot was also among the worst-hit tokens during the recent price recession. However, there is still so much going on in the Polkadot ecosystem, which shows promise of price gains.
Polkadot started a major uptrend last month due to the parachains auction. The auction slots were unveiled earlier in November, and they have continued to attract interest from decentralized finance (DeFi) protocols.
The parachains auction is boosting demand for DOT because of contributors who are voting for their favourite projects. The fifth auction will happen on December 16, after which the first set of the winning parachains will be onboarded on the Polkadot Relay Chain on December 17.
As such, if there is a recovery this weekend, DOT stands to be among the top gainers because the first set of the winning parachains will go live, thus increasing on-chain activity.
To learn more visit our Investing in Polkadot guide.
5. Polygon (MATIC)
The other token to consider buying this weekend is MATIC, the native token for the Polygon blockchain. Polygon stands among the top gainers in the top 20 list after the market started showing some signs of recovery. The coin is up over 5% and still holding the uptrend.
MATIC is one of the few popular coins that failed to surge to all-time highs last month during the strong bullish rally. However, the network continues to make major moves that are creating optimism regarding its future prices.
Recently, Polygon acquired Mir to boost its zero-knowledge capacity. The acquisition was valued at $400 million, and it will aid Polygon in its developments regarding scalability and achieving interoperability.
Polygon is a layer two scaling solution based on Ethereum, and in recent months, the growing level of adoption has attracted much interest. Earlier on, 21Shares launched a Polygon exchange-traded product (ETP).
The expanding technological capacity of Polygon has made it a considerable buy by investors that invest in projects that have a strong technology backing.
To learn more visit our Investing in Polkadot guide.
6. Shiba Inu (SHIB)
Shiba Inu has dipped by 61% from its all-time high. However, it still makes for a good buy in case of a price recovery because of several factors.
The first is that despite the dips, SHIB is still attracting attention, and the level of adoption is growing. In recent weeks, SHIB has been endorsed as a means of payment on many platforms, including AMC Entertainment, Travala, a Las Vegas Auto dealer and more.
The recent major endorsement was when SHIB was added to the Flexa network. Flexa is a payments network that is backed by the Gemini cryptocurrency exchange. The token will now be available to around 40,000 merchants on the network, including GameStop.
Shiba Inu developers are still making moves to grow the network. These developers had earlier announced that Shiba Inu would be venturing into the metaverse. The launch of SHIB in the metaverse is expected to unveil token burning, which could finally solve the issue of high token supply.
A combination of network development and adoption could see SHIB making another bullish rally, and it could head to new highs.
To learn more visit our Investing in Shiba Inu guide.
7. Cardano (ADA)
The other cryptocurrency that could also return gains in case of a price recovery this weekend is Cardano. The Cardano blockchain is in its early days of smart contract deployment after the Alonzo hard fork in September.
The first major DeFi protocol, Sundaeswap, went live on the Cardano blockchain, but this did not cause much buzz, as it coincided with the market recession. Sundaeswap is currently launched on the Cardano blockchain but on a testing phase.
The Cardano team has welcomed feedback regarding the experience of users who have tested the rollout of Sundaeswap, and it is currently fixing bugs that have been identified in the process. Once the testing phase is over, Sundaeswap will officially go live on the Cardano blockchain.
The ADA token could record major gains as soon as Cardano finds its footing in the smart contract world. If buyers return to the market, ADA will make one of the top buys, triggering gains. Hence, in case of a price recovery, it makes for one of the best tokens that you can buy.
To learn more visit our Investing in Cardano guide.
The crypto market has been dipping since the beginning of this month. However, the prices are showing signs of recovery, and with some slight gains recorded, the market could be headed towards a price recovery by the weekend. The recent recession has put buyers away from the market, and strong price action could make these buyers return.
Above are some coins that could make significant gains if the market recovers. However, it is still important to note that the crypto market is volatile. At times, the market has failed to surge, even after analysts have predicted it will. Therefore, it is best practice to understand the risks and invest wisely.