The cryptocurrency market has been volatile for the last two months, with major virtual currencies like Bitcoin and Ethereum trading in the red zone. However, there are several digital assets you can buy for recovery as the market rises. This article highlights some of these digital assets that can give you good returns for your investment.
1. UNUS SED LEO (LEO)
Starting off our list of cryptocurrencies to buy for recovery is the utility token Unus Sed Leo with the ticker symbol LEO. The ERC-20 token is the fuel for the iFinex crypto exchange ecosystem.
Named after a Latin citation, Unus Sed Leo allows users to save money on trading fees. However, the extent of the user’s discount is dependent on the amount of LEO the customer has in their account.
The iFinex Bitcoin exchange created LEO following a financial shortfall in May 2019.
Like the prominent proprietary coin Binance coin (BNB), the LEO token uses a token burn mechanism that sees the iFinex exchange buying back a particular amount of LEO from the market monthly.
The amount that is repurchased and burned stands at a fixed rate of 27% monthly, and they are usually bought at the present market rate.
In regards to its price action, the LEO token has had several wild swings. Beginning the year at $1.3564, the LEO token has surged with other crypto assets. It surged to $3.8905 on May 12, following a string of impressive performances.
Rising higher became a challenge during the general crypto market crash that saw over $1 trillion shaved off the market. It subsequently dipped 25% to $2.07 on May 27 before rallying at the beginning of June. However, it has not reached its previous all-time high (ATH) of $3.8905 and has traded at $2 on average.
LEO is up 1.11% and trading at $2.73 at press time. This gradual rally shows that LEO is a good digital token to buy for recovery.
2. Revain (REV)
If you are a value-driven investor looking for coins to buy for cheap and sell high, then you should be excited about our next cryptocurrency to buy for recovery. Bringing blockchain into the traditional reviewing space, Revain allows users to review Ethereum blockchain-based tokens.
Founded in 2018, Revain is more like a feedback channel that enables developers to receive constructive feedback about their projects.
The blockchain platform also incentivizes authors to provide high-quality reviews through its REV tokens. It also uses the RVN token to facilitate interactions between users on the platform.
According to the development team, Revain creates a legitimate and genuine feedback structure for all global products and services that leverage emerging technologies like machine learning and blockchain technology.
REV has not been successful thus far in the aspect of price action, with a breakthrough only materializing in mid-May when it surged from $0.03655 to $0.06221, rising more than 50%. However, it dipped and has traded below its ATH for some time now.
Meanwhile, REV is picking up steam and is set to break the ice soon enough. Even though the digital asset is trading below the 20-day moving average (MA) support at $0.00859, its current price peg of $0.00791 puts it in a good position to begin a bullish run. It has rallied 0.51% on the daily trading chart.
3. ICON (ICX)
Another cryptocurrency going for a bargain that you can buy for recovery is ICON.
ICON focused on the interoperability challenge and used its blockchain transmission protocol to allow independent blockchains to connect and transfer value in a trustless manner.
The ICON blockchain protocol uses smart contracts like Ethereum. It uses a dual consensus algorithm, the delegated proof-of-stake (DPoS), and an economic-governance protocol called delegated proof-of-contribution (DPoC).
It runs on a proprietary blockchain engine called loopchain, which ensures the integrity and transparency of data between institutions and companies. The ICON project plans to become an ‘interchain’ through which multiple blockchains can interact.
Price-wise, its native token ICX has had a roller-coaster experience. Trading as high as $12.19 in its early days, ICX has slumped consecutively over the years. It even went for $0.161 in Nov. 2019. However, 2021 has seen the token rebound reaching an impressive $3.1198 on March 31.
It could not retain the price action and consequently dropped to $1.84 towards the tail-end of April. It rallied 11% in May, surging to $2.733 before crashing with the wider market.
With a current price peg of $0.9399, ICX is up 1.39%. This makes it a digital token to buy for recovery this month.
4. Theta Fuel (TFUEL)
Another cryptocurrency to buy for recovery is Theta Fuel. Theta Fuel is one of two native tokens of the Theta network.
The Theta Network is a blockchain platform focused on video streaming and data delivery. It has Enterprise validators like Google, Samsung, Binance, Blockchain Ventures, and Gumi.
The Theta Network is a fast-growing protocol that has seen massive adoption in the past months. This has been through its innovative blockchain protocol that enables content creators to upload videos for rewards.
Viewers are not left behind as they also get rewarded for streaming the uploaded videos.
The Theta blockchain is powered by the Theta token which is focused on the governance of the blockchain platform as well as Theta Fuel which serves as the gas of the platform.
This makes TFUEL the ERC-20 token that powers most of the operation that goes on in the Theta network.
Some of the functions TFUEL fulfills in the Theta platform are to serve as a payment medium to relayers for sharing video streams, the deployment of smart contracts, and for transactions consisting of NFTs and DeFi products and services Theta network.
Aside from this, TFUEL is also used to pay users who share their redundant computing power and bandwidth resources. With video streaming becoming a norm in 2021, the Theta network has grown and TFUEL is one of the top 50 digital assets in the crypto space.
In regards to price, TFUEL has experienced a bumpy ride. Starting off at $0.03349 at the beginning of the year, the digital token surged to $0.4817 on March 23 increasing more than 2,000% in just three months.
Although it subsequently lost its momentum, its breakthrough moment occurred again on June 19 when it surged to $0.5905. However, it has not been able to retain the positive price action and slumped 10% and ended the month at $0.4113.
It also dropped briefly in July but seems to be regaining some of its positive price action. At press time, TFUEL is up 0.98% and trading at $0.3585.
5. Pax Gold (PXG)
Moving into precious metal space is Pax Gold, one of our digital tokens to buy for recovery. Launched in 2019 by blockchain protocol Paxos Standard, Pax Gold is a gold-backed cryptocurrency. It is an ERC-20 token and is easily tradable on several exchanges.
Piggybacking on the price of gold, PXG aims to make the valuable metal tradable since the commodity is not flexible and divisible in a sense. According to the project team, Pax Gold allows investors to buy small quantities of precious metal without holding the metal.
Paxos Gold is regulated by the New York State Department of Financial Services (NYSDFS). Paxos Gold is fully collateralized by physical gold at one troy ounce to 1 PXG. It also complies with the London Good Delivery.
PXG has seen much growth since last August and traded for $2,083. It fell to $1,732 in March and has since recovered. At press time, it is up 0.92%, and I PXG goes for $1,827.21.
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