The crypto market is trading downwards as we head into the month’s final week. Large-cap coins have shed a lot of value in the past week, and investor confidence isn’t at its highest point. However, market downturns remain great opportunities for smart investors to pick high-value coins at a discount. Below, we’ll look into some of the top crypto to buy this week.
1. Lucky Block (LBLOCK)
Topping our list of the top crypto to buy this week is LBLOCK. The digital asset has been an interesting one for investors since it launched earlier this year, thanks to growth in the Lucky Block ecosystem.
Lucky Block is a revolutionary online gaming platform that allows users to gain access to multiple games for free. The service uses blockchain technology to improve transparency and accountability, and its openness to everyone puts it in a good position to disrupt the $230 billion global online gaming space.
Launched in January 2022, LBOCK acts as a ticket to the Lucky Block ecosystem. The asset has also proven to be a great investment, rising from a listing price of $0.00020 to an all-time high of $0.0096 less than a month after its launch. Today, LBLOCK trades at $0.0018, down 4.355% in the past 24 hours.
Currently, Lucky Block is in the midst of a marketing blitz. The gaming platform signed a deal with boxing champion Dillian Whyte last week. Also, the platform’s non-fungible token (NFT) collection – the Platinum Rollers Club – got a shoutout from LaVar Ball.
2. Terra (LUNA)
Terra is one of the most impressive blockchain platforms right now. The network focuses on helping users to easily create stablecoins, incorporating a complex mechanism to maintain the stability of all stablecoins within its ecosystem.
Many believe that Terra’s LUNA token will be one of the best performers of 2022. The coin has come from relative obscurity to become one of the 10 most valuable assets in the market, and it makes it to our list of the top crypto to buy this week as well.
Currently, LUNA trades at $89.06. This is a drop of 1.61% in the past 24 hours, just in line with the market. Despite the drop, there are several reasons this coin could be a big hit.
The first reason is that the Terra ecosystem is still bullish. Last week, the platform’s main stablecoin – UST – flipped the Binance Dollar (BUSD) to become the third-largest stablecoin in the market. For comparison, UST wasn’t in the top 5 at the start of the year. Now, it is hot on USDC’s heels and could very well become the second stablecoin by the end of the year.
The Luna Foundation Guard (LFG) – a nonprofit tasked with maintaining UST’s dollar peg – recently got $800 million as part of its continued campaign to buy more BTC. The LFG expects to purchase $10 billion BTC to back UST reserves, and they remain committed to this goal. When the market returns to its bullish position, this could spell massive windfalls for the nonprofit.
3. ApeCoin (APE)
ApeCoin has been the toast of the crypto market ever since it launched in March. The asset, which is linked to the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection, has seen its profit rise consistently.
Already in the top 30 on the CoinMarketCap chart, APE is the only asset on our list of the top crypto to buy this week that is beating the market. With a price of $17.21, APE is up by an impressive 2.43% in the past 24 hours. Additionally, the coin has been up by an even more impressive 55% over the last 7 days.
The gains primarily came from a rumour that the Bored Ape founders are looking to gift BAYC token holders free virtual land in their upcoming metaverse – dubbed Otherside.
Otherside will be a role-playing game where players will be able to use their Bored Ape NFTs as characters or avatars. A leaked pitch deck from earlier this year shows that Yuga abs – the Bored Ape creator – plans to earn $178 million by selling virtual land, and APE will be the de facto taken for processing these transactions.
There are also rumours that popular retail investment platform Robinhood might list APE soon. The platform’s developers are yet to make any official announcement, but the speculation continues to rise.
4. FTX Token (FTT)
Exchange tokens are among the best investments if you’re into crypto. Right now, hardly any exchange token captures the attention of investors like FTT.
FTT is the exchange token for FTX – one of the world’s largest crypto exchanges. As you’d expect, the digital asset focuses on providing discounts to trades on the platform. However, as FTX continues to grow, FTT’s value has also risen significantly.
FTT currently trades at $39.86 – down 2.38% in the past 24 hours. The asset appears on our list of the top crypto to buy this week following reports that FTX is in talks over possible partnerships with banking conglomerate Goldman Sachs.
According to a report from the Financial Times, Goldman Sachs chief executive officer , David Solomon, had a close-door meeting with FTX chief Sam Bankman-Fried last week. Both men discussed possible potential partnership lines, including mitigating regulatory compliance risks in the United States and Goldman assisting FTX with future funding rounds.
With Wall Street and crypto firms converging ever closely, we expect to see something major coming from FTX and Goldman soon enough. Investors should definitely keep FTT on their watchlist.
5. Avalanche (AVAX)
AVAX rounds out our list of the top crypto to buy this week. The asset underpins the Avalanche network – a blockchain that is looking to rival Ethereum.
Currently, AVAX trades at $67.77 – down 5.23% in the past 24 hours. The asset isn’t doing so great, but its price drop presents an opportunity to get it at a bargain price.
Investors who buy AVAX might be in for some gains. Last week, Ava Labs – the Avalanche blockchain’s developers – was reportedly in the final stages of a $350 million funding round that would see the company valued at $5.2 billion. With the total value locked in the blockchain sitting steady at over $14 billion, Avalanche is becoming more popular in the decentralized finance (DeFi) space.
We expect the funding round to go towards additional development and strengthening Avalanche’s fundamentals, thus putting AVAX in a great place to grow when the market flips bullish again.