When the market plummets, which assets are suitable for bargain hunting?

Original｜Odaily Planet Daily

Author: Wenser

From April 12 to 14, affected by the situation between Iran and Israel, the crypto market fell sharply and widespread grief.

Coingecko data shows that the overall market value of cryptocurrencies once fell below $2.5 trillion, BTC once fell below $61,000; ETH once fell below $2,800; SOL once fell below $120. The callback of the cottage was more severe, and mainstream currencies such as MATIC, XRP, DOGE, BCH, etc. all fell by more than 30%. The previously popular MEME coin BOME even fell by more than 50%. As of the time of writing, affected by the re-emergence of risk asset selling in the US market, the price of BTC has fallen again to around $63,000, the price of ETH has fallen again to $3,100, and the price of SOL has fallen again to around $138. In view of the many altcoins that have not yet fully recovered, Odaily Planet Daily has listed a "bottom-picking list" for everyone to discuss. (Odaily Note: The recent market fluctuations are large, the following content is only for perspective sharing, not investment advice, please pay attention to asset security and carefully choose investment targets.)

Value Coins: SOL, CKB, W

Value investment is a vicious circle that every crypto person cannot avoid. In this cycle, the representative "value coins" of the SOL ecosystem, BTC ecosystem and cross-chain bridge ecosystem are none other than SOL, CKB and W.

Although it was previously affected by the FTX crash, SOL still relies on the powerful Memecoin ecosystem, low interaction costs and continuous construction to gradually grow into an indispensable part of today's market. Therefore, SOL, which is still some distance away from the recent high of US$200, still has a certain bargain value.

CKB is completely influenced by the RGB++ ecosystem. As the best bridge between the BTC ecosystem and the Nervos ecosystem, the birth of SEAL, the first protocol asset in the RGB++ ecosystem, caused the price of CKB to exceed US$0.036. Therefore, with the continuous improvement of the subsequent asset issuance system and the feedback from the BTC ecosystem, CKB also has room for growth.

W is a high-risk bottom-fishing option, with a low point higher than the high point, and even a halving before falling nearly 20%. However, in the long run, Wormhole's position in the cross-chain bridge ecosystem is obvious to all. Therefore, although it is difficult for us to predict the specific time of its resurgence, we can now put it on the watch list and choose the opportunity to bottom-fish.

Restaking: PENDLE, ENA, ETHFI

As the "only lifeline of the Ethereum ecosystem", Restaking plays a vital role from the second half of 2023 to the first quarter of this year. On the one hand, it allows Ethereum's big players, whales, and institutions to find an outlet for their overflowing liquidity; on the other hand, it provides small investors with an opportunity to enter the market through a large-volume, low-circulation model, and at least obtain certain Beta returns.

Therefore, PENDLE, ENA, and ETHFI are relatively cost-effective options in this field. Although the recent declines of the three are relatively small, in the long run, the subsequent news of the Ethereum spot ETF, whether passed or not, will to a certain extent enable them to maintain an upward trend.

RWA: ONDO, MKR

As an intermediary token connecting real-world assets and virtual assets, the leaders of the RWA track can only be ONDO and MKR. The former is a synonym for the RWA track that has reached a cooperation relationship with BlackRock Fund, and the latter is a veteran DeFi organization that has been insisting on repurchases. Therefore, it also has a certain bargain-hunting value.

AI: WLD, AGIX

Although the AI track is still at the peak of its bubble, it is still a hot track now and in the future, so it is worth watching.

Among them, although WLD has fallen back from its high point, it still holds the leading position of AI concept coins, so it can be included in the bottom-fishing list. AGIX, thanks to its token name, has great hype value, and its main concept is "a decentralized artificial intelligence platform and market that aims to build a "protocol that connects artificial intelligence and machine learning tools and forms effective applications", which is in line with the development trend of the AI X Web3 concept and is also suitable for bottom-fishing considerations.

Memecoin: SLERF, BOME, DEGEN

In addition to the good rebound momentum of the above tokens, as a representative track of this cycle, the top players of Memecoin are also performing quite well at present, among which SLERF, BOME, and DEGEN are particularly worth mentioning.

In addition to the Drama opening and the influence of the Meme, SLERF's locked LP and the continuously deflationary economic model determine that the market's expectations for it are growing day by day, so after experiencing a low of 0.22

After a drop of about US dollars, it has now rebounded to around US$0.35.

BOME is the leading Memecoin in the SOL ecosystem, and compared with projects such as WIF, its price is lower, so its bargain hunting value is relatively greater.

DEGEN's bottom-fishing logic is based on Fracaster's social ecology and Degen Chain's Layer 3 ecology. It is both an incentive token and native gas. There is still a lot of room for subsequent growth. If there are any players worth looking forward to in the Base ecology, DEGEN is definitely the first one.

summary

Of course, the above are just subjective conclusions drawn from personal observations of recent market conditions. In the short term, affected by the world’s political and economic situation, the subsequent trends of many cryptocurrencies including BTC and ETH are still full of huge uncertainties. But one thing is certain: this cycle has not ended, and the bull market has not ended. So, stay patient, be optimistic, and see you in the future.