The cryptocurrency market is experiencing a downturn with Solana (SOL) and XRP (XRP) being the hardest hit.
Despite overall market conditions, there are still plenty of opportunities for smart investors to find value in specific coins.
In this article, we will take a closer look at the price movements of Solana and XRP and highlight three alternative coins worth buying during this market downturn.
Traders profit as Solana and XRP prices drop
In the last 24 hours, the value of the cryptocurrency market fell 3% to $1.97 trillion.
Both SOL and XRP have seen significant price declines, in contrast to last week’s gains.
SOL, which hit $118 just a week ago, hit $103, down more than 6% from yesterday.
Meanwhile, XRP fell more than 5% to $0.540.
Despite these losses, both cryptocurrencies are still significantly up from the end of January.
The current market decline is due to traders taking profits after last week’s rally.
Additionally, some analysts have suggested that the market is experiencing a natural correction after its recent bullish momentum.
Whatever the cause, it’s clear that many investors are taking a more cautious approach than they have recently.
What coins should investors consider buying during a bear market?
While market declines can be unsettling for some investors, they also provide an opportunity to purchase high-quality coins at discounted prices.
In the next section, we’ll take a closer look at three coins worth buying while the market takes a moment to catch its breath.
1. Bitcoin Minetrix (BTCMTX)
The first coin that coin investors can consider purchasing is Bitcoin Minetrix (BTCMTX).
The project aims to simplify Bitcoin mining and make it more accessible to more people.
Unlike traditional mining, which requires expensive hardware and technical know-how, Bitcoin Minetrix uses a new mechanism called “Stake-to-Mine”.
This mechanism allows users to earn recurring BTC rewards by staking BTCMTX tokens.
The project is built on the Ethereum blockchain, which offers a much higher level of decentralization than most cloud mining companies.
As a result, this makes Bitcoin Minetrix an attractive option for people who are interested in Bitcoin mining but do not have the resources to do so themselves.
Bitcoin Minetrix’s features are not yet available to the public, but the project is currently raising funds through a limited-time pre-sale event.
During this pre-sale event, investors can purchase BTCMTX tokens at a discounted price before they hit the public market.
BTCMTX tokens are available for just $0.0136. However, this price will increase as more funding stages are reached.
Overall, Bitcoin Minetrix is a promising project worth considering for investors seeking high-potential opportunities in market downturns.
Investors can participate in the pre-sale by visiting bitcoinminetrix.com.
2. Starknet (STRK)
Next up is the second coin that investors may want to buy during a bear market: Starknet (STRK).
Starknet is a scaling solution for Ethereum that leverages STARK technology to ensure computational integrity.
By validating off-chain transactions with advanced cryptography, Starknet offers unparalleled scale while maintaining the security and decentralization of Ethereum.
One of the key advantages of Starknet over other layer 2 scaling solutions is its superior user experience.
It uses “native account abstraction” which means that every account is a smart account and its behavior is determined by the developer rather than at the protocol level.
This provides tremendous flexibility in account management and allows developers to customize their apps to their liking.
STRK, the native token of Starknet, was listed on Binance yesterday and reached a market capitalization of $2.4 billion in a matter of hours.
Although still in the early stages of its life cycle, STRK could be another token that investors will want to keep an eye on.
3. PIXEL
The third coin investors may want to keep an eye on during the market decline is PIXEL.
Pixels is an open world with farming and exploration mechanics.
This fun and easy game aims to be the gateway to the world of Web3 for millions of people.
One of Pixel’s main advantages over other cryptocurrency games is its focus on community.
The Pixels Discord server has over 185,000 members, which is testament to the size of the game’s following.
Developers are also experimenting with P2P features, guilds, on-chain player personas, and social pie mechanisms.
The game’s native token, PIXEL, is now tradable on various Tier-1 exchanges and has recorded a trading volume of $370 million in the past day.
Although the market is still in retreat, PIXEL could be an interesting speculative play for those looking for exposure to the growth potential of the cryptocurrency gaming space.